Nomura is an Asia-based financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com Department overview:
Product Control Valuations at Nomura is primarily responsible for understanding, reviewing and testing the marks and valuation adjustments used to value trading positions. The main functional responsibilities include: frequent testing of front office marks to external levels; ensuring that the appropriate accounting principles and reserves are applied to reach fair value; calculation of Prudential Valuation capital adjustment; development and application of rules for fair value hierarchy classification; partnering with the Front Office and other support groups in facilitating and approving new products and initiatives, in particular determining reserving and revenue recognition approaches. This involves a close working relationship with the Front Office as well as all primary support partners including Risk Management, Quants, Model Validation Group, Operations, Finance and Legal. Role description:
Skills, experience, qualifications and knowledge required:
- Manage the team performing IPV for full spectrum of Vanilla and Exotic Credit Products across all businesses, including the review of the marking of CVA exposures.
- Determining methodology for and computation of relevant valuation adjustments
- Responsible for management reporting of IPV, including detailed analysis of desk marking trends
- Extensive degree of Front Office, Product Control, MVG, Finance and senior management interaction
- Opining on revenue recognition and reserving for new product / transaction approvals
- Training and supervising Mumbai offshore centre to ensure appropriate, and accurate testing
- Conducting reports for all relevant areas covering regulatory requirements (e.g. Prudential Valuation, Solvent Wind Down), internal management reports and audit / SOX related reporting
- Resolution of collateral disputes on credit products
- Reviewing, designing and enhancing controls
- Responsibility for Fair Value Hierarchy classification for Credit products and Significant Unobservable disclosures under FAS157
- Computation of quarterly Prudential Valuation Adjustments
- Contributing to the overall management and development of the EMEA Valuations Product Control team
- Numerical degree with history of strong academic performance required.
- Additional professional qualification from top university or institution preferable (ACA/CIMA, CQF, CFA, FRM, PRMIA).
- Excellent written and oral communication skills required given the level of exposure to all levels of seniority and experience across businesses and regions.
Nomura competencies Trusted Partner
- VBA and Python skills would be preferable, but are not essential.
- Understand clients' needs and issues, and provide solutions utilizing Nomura Group company's resources, earn the clients' trust
- Acquire a wide range of knowledge as an employee of Nomura, instead of focusing only on one's own area of expertise; play a part in improving the company's services level and corporate value
- Take on new challenges for improvement and cultivate a corporate culture of challenge by driving change in business operations
- Ensure views are not biased, accept different opinions and perspectives, and collaborate with other members to create common values
- Provide appropriate guidance to others and act in a manner that places emphasis on the performance and growth of the organization
Right to Work
- Improve further the understanding and awareness of corporate philosophy, professional ethics, compliance risk management, and code of conduct, and make decisions and take actions from a management position
The UK Government have taken steps to reduce net migration to the UK by limiting the number of overseas workers coming to the UK for employment. Please note that whilst we are able to consider applications from overseas workers from outside the UK (who require a Tier 2 Skilled Worker visa) we can only employ them if we can provide evidence that this is a genuine vacancy for a qualified role. Diversity & Inclusion
Nomura is an equal opportunity employer. We value diversity and are committed to ensuring we best reflect the diversity of the communities we serve creating an inclusive environment for all our employees. We welcome all applications and do not discriminate on the basis of age, disability, gender identity and gender expression, pregnancy and maternity, marriage and civil partnership, race, religion or belief, sex or sexual orientation.
If you require any assistance or reasonable adjustments due to a disability or long-term health condition, please do not hesitate to contact us.