Job Description

Nomura Overview:

Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment 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

Nomura Services, India supports the group’s global businesses. With world-class capabilities in trading support, research, information technology, financial control, operations, risk management and legal support, the firm plays a key role in facilitating the group’s global operations.

At Nomura, creating an inclusive workplace is a priority. Our approach to inclusion encompasses a variety of initiatives, including sensitization campaigns, implementing conducive policies & programs, providing infrastructure support and engaging in community events. Over time, we have made meaningful progress in these areas, and this commitment has been well-recognized across the industry. We are proud recipients of the prestigious Top 10 Employers award by the India Workplace Equality Index (IWEI), IWEI Gold Employer of Choice awards, India CSR Leadership Award 2024 for Holistic Village Development Program and the YUVA Unstoppable Changemaker Awards.

Divisional Overview:

Nomura Global Markets division, based in Mumbai, the front-office team delivers pricing, modelling and risk management expertise to the Global Markets business. Founded as a centre of excellence, the group leads the way in price discovery and portfolio optimization techniques and is integral to the business’ aggressive revenue targets. The team is playing an integral role in structuring, pricing, risk management and new idea generation.

Business Overview:

Global Markets (GM) Powai team is an extension of regional Global Markets (Front Office) teams supporting Equities, Securitized Products, Rates, FX, and Credit. The division in Powai provides support for a range of activities like research, quantitative modelling, sales and trading support, pricing and balancing, product development and strategy. Powai operation is a critical part of the platform to support the growth of Nomura’s global business

The Business Management / Functional Support team in Powai is a key Business Unit within the GM division. It houses a number of extended teams for various regional functions acting as enablers for the Front Office teams such as AEJ, EMEA & US GM Business Management, Client Account Management and Strategy (CAMS), Global Markets Controls Office (GMCO) and Senior Relationship Management (SRM).

This particular role is within the Global Markets Controls Office (GMCO) team. The GMCO team is a global team responsible for creating and maintaining the Front Office Supervision framework for Global Markets and being the key operational risk and control function for the Global Markets business. GMCO operates in 4 Regions (EMEA, Asia ex-Japan, Japan and US).

What We Offer:

• We support employee wellbeing by ensuring a sense of purpose and belonging.
• We offer a comprehensive range of wellbeing services which allows employees to get access to the assistance they need at any point in their wellbeing journey.
• Our bespoke benefits support employees and their family’s holistic wellbeing and are inclusive of diverse identities and family structures.

Position Specifications:

Corporate Title

VP/ ED

Functional Title

VP/ ED

Experience

10 – 20 years of relevant experience, with minimum of 8 years in first line control functions or related area. Experience in managing teams/

Qualification

MBA or CA preferred. Prior educational background in Finance would an added advantage

Requisition No.

Role & Responsibilities:

Role:

The role is to lead the GM Control Office (GMCO) team in Mumbai, control framework for Global Markets and International Wealth Management businesses. Apart from team management the individual would have own book of work as an individual contributor and is expected to dedicate major portion of bandwidth towards it.

We are looking for a forward-thinking individual for this role, with pre-emptive control mindset, who is well aware of latest industry control events and standards.

The position reports to Head of Business management in Powai and to the Global Head of GMCO with regional dotted line reporting.

This role offers significant opportunity to shape and influence Nomura's control framework globally while working with diverse stakeholders across regions. The successful candidate will play a crucial role in supporting Nomura's growth while ensuring robust risk management practices.

Key Responsibilities:

1. Strategic Leadership & Team Management

• Lead and develop a team of approximately 10+ professionals, with potential for growth
• Drive strategic initiatives to enhance Front office control framework across locations
• Collaborate with front office, compliance and risk management to drive initiatives
• Provide thought leadership in developing and implementing global control standards
• Build investigation capabilities within the team for handling operational risk events
• Develop expertise in KRI monitoring and breach analysis
• Identify and drive efficiency opportunities through automation and use of Digital tools

2. Risk & Control Framework

• Drive Global consistency and standardization of framework practices
• Implement robust control frameworks for trading, sales, and wealth management activities
• Manage and evolve the GM Control Framework visualisation tooling (dashboards, MI and reporting and key governance)

• Support the review of GM Policies and Procedures
• Lead operational risk monitoring and assessment programs
  • Analyse patterns in operational risk events
  • Implement preventive measures based on historical event analysis
  • Identify emerging risks through event analysis
  • Design framework for operational risk event analysis and reporting
  • Coordinate with regional teams on cross-border operational risk events
• Establish and oversee KRI breach investigation protocols
• Implement risk assessment framework
• Monitor effectiveness of controls and implemented solutions
• Provide training and awareness sessions

3. Incident Management & Investigation

• Lead coordination of significant operational risk event investigations
• Oversee root cause analysis of KRI breaches
• Ensure proper escalation of material events to relevant stakeholders
• Establish escalation protocols, Maintain investigation documentation and reporting standards
• Develop investigation playbooks
• Maintain investigation tracking systems
• Track remediation progress and effectiveness

4. Governance & Oversight

• Coordinate with global stakeholders to ensure consistent control standards
• Design and oversee control testing programs
• Participate in key governance forums and committees
• Drive regulatory compliance initiatives within the first line of defence
• Establish investigation governance frameworks
• Review and approve investigation reports
• Maintenance of the GM Key Supervisory Controls (KSC)
• Maintain the conduct risk breach log in line with regional requirements
• Execute User Acceptance Testing for new systems and processes
• Engage in non-financial risk projects to remediate or mitigate control issues

5. Business Partnership

• Partner with Front Office senior management, COO office and support functions
• Provide advisory services to business teams on control matters
• Contribute to global initiatives and strategic projects
• Facilitate communication between regional teams and Mumbai centre
• Coordinate with Operations, Risk, and Compliance teams on event investigations
• Partner with business teams to implement preventive measures

Skill Set, Mind Set:

Mandatory

Desired

Domain

Technical Skills

• Deep knowledge of financial markets control frameworks
• Knowledge of regulatory requirements across key markets
• Proficiency in creating data driven risk and control reports
• Understanding of operational risk reporting requirements
• Experience in operational risk event investigation
• Knowledge of KRI frameworks and breach analysis
• Expertise in root cause analysis methodologies
• Proficiency in Data analysis and Visualisation tools

Behavioural competencies

• Forward thinking, pre-emptive control mindset, be aware of industry control events and standards.
• Clear communication and presentation skills
• Strong leadership and people management skills
• Excellent stakeholder management abilities
• Strategic thinking and problem-solving capabilities
• Ability to work in a global, matrix environment

• Project management skills (project definition, planning, risk and issue identification, milestone tracking and summary reporting)
• Experience of working with a diverse stakeholder group across multiple locations
• Ability to work under pressure to tight timelines

We are committed to providing equal opportunities throughout employment including in the recruitment, training and development of employees. We prohibit discrimination in the workplace whether on grounds of gender, marital or domestic partnership status, pregnancy, carer’s responsibilities, sexual orientation, gender identity, gender expression, race, color, national or ethnic origins, religious belief, disability or age.

*Applying for this role does not amount to a job offer or create an obligation on Nomura to provide a job offer. The expression "Nomura" refers to Nomura Services India Private Limited together with its affiliates.

*The benefits are subject to change and will be in accordance with Company’s policies as may be applicable from time to time).