Job title: Structured Rates Product Control
Corporate Title: Vice President
Department: EMEA GMO
Location: London Company overview
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 Overview:
Key objectives critical to success: PRODUCT CONTROL DEPT OVERVIEW
Product Control is a key function within the Finance department, interacting with virtually every part of
the firm's businesses, products and technology systems. Product Control is a global function with staff
located in London, New York, India and across the Asia Pacific region.
Product Control is primarily responsible for understanding, substantiating and controlling the daily
trading balance sheet and income statement for Nomura, to analyse the daily trading activities, to explain
and report the trading divisions' profits and losses whilst ensuring that the Finance governance framework
is maintained. Product Control support the execution of regular independent price verification to verify
the values of positions held by the trading desks. In addition, Product Control review and opine on new
products and transactions ensuring full compliance with governance requirements and efficient
deployment of the firm's financial resources.
Product Controllers are expected to develop a good understanding of the products they monitor and of the
strategies used by the trading desk to generate revenue for Nomura. The function has become increasingly
technical in content and offers a challenging and interesting role, suited to dynamic, bright and ambitious
individuals with a drive to succeed.
Product Control has a significant presence and role within the organisation. It has a close working
relationship with the trading desks, investment bankers and other corporate areas. It is the central point of
contact for many issues that affect the firm including new transaction and product approval,
understanding business performance and independent price verification of the trading inventory. It
operates dynamically with a heavy focus on automation and technology and is involved in numerous
cross departmental projects throughout the firm.?
Product control management take a hands-on approach to running the department and are keen to reward
hard work, enthusiasm and success. They positively promote the need to constantly question and
challenge, to strive for improvements and to further your understanding, this leads to an ever changing
and exciting environment. Nomura presents a unique opportunity to learn and gain experience of a broad
range of products and business lines within a supportive setting and surrounded by skilled professionals.
The strong team spirit is encouraged by regular departmental social and team-building events, and an
emphasis is placed on achieving a healthy work-life balance.ROLE DESCRIPTION
The role is in the EMEA Structured Rates business. This business includes the Structured Rates Exotics
business as well the Insurance Solutions and Structuring. These businesses are both diverse and complex,
covering a variety of trading strategies and products including but not limited to exotic interest rates and
reinsurance products namely variable annuity and regulatory capital financing transactions.
The candidate will be responsible for all aspects of control and liaison with the Front Office, Risk
Management, IT, Middle Office and other finance teams. The candidate will be one of the finance points
of contact for the business on new products and new transactions. They will also be responsible for
performing assessments of transactions including PL recognition and reserving, deal review, review of
financial resource metrics and reporting and presenting to both local and global senior finance
- Managing the reporting of a comprehensive daily trading PL and balance sheet, including PL Explain
with detailed commentary covering PL drivers, trading activity, key exposures and market context.
- Carry out intelligent analysis and challenge the business performance, trading activity, deployment of
financial resources and adherence to governance requirements.
- New deal analysis with responsibility for coordinating Finance wide reviews of new products and new
transactions reporting conclusions to senior finance management.
- Own the business relationship, opine and validate PL recognition challenges and reserve requirements.
- Responsible for financial resource and return calculations on new transactions as well as understanding
all aspects of financial resource consumption such as capital, balance sheet and leverage exposure for the EMEA Structured Rates business.
- Stakeholder management across Trading, Risk, Middle Office, Operations and IT.
- Monitoring of key controls and reconciliations, owning the adherence to policies and procedures.
- Constantly challenge the status quo and look for opportunities to improve the control environment,
maintaining best practice control standards.
- Ensure that all activities are carried out in full compliance with Product Controls policies and
procedures and internal Nomura's Policies and Policy Standards.
KEY SKILLS AND EXPERIENCE REQUIRED
- Represent Finance's interest on key firm wide projects.
- Relevant product control experience with a strong understanding and experience of derivatives and
financial instruments, preferably structured rates products such as but not limited to Bermudan Swaptions
and CMS linked swaps and options. Some knowledge of insurance products would also be desirable but
Nomura competencies Trusted Partner
- Preferably a qualified accountant (CIMA, ACCA, ACA, etc)
- Good academics, preferably in a numerate subject.
- Self-starter with strong time management and multi-tasking skills.
- Ability to face off with key business stakeholders.
- Strong communication skills and attention to detail with analytical capability and a can do attitude.
- Track record of improving controls and processes and adding value to clients/stakeholders.
- 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.