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.

Division Overview:

The Risk Management Division encompasses the firm's comprehensive risk framework responsible for determining and managing the overall risk appetite for the firm. The division is responsible for effectively managing the firm's risk-return profile which ensures the efficient deployment of the firm's capital. It is one of the firm's core competencies and is independent of the trading areas and operational areas. The Risk Management Division in India comprises:

• Market Risk Management
• Credit Risk Management
• Quantitative Risk Management
• Operational Risk Management
• Data Integrity Group

Business Unit Overview:

The Risk Methodologies Group (RMG) has the mandate to develop / enhance risk models in line with internal and regulatory requirements, perform ongoing model performance and conduct SIMM/VaR back-testing. The methodologies side of the group has the critical task of owning all the risk models that are used for computing capital adequacy for the whole firm, used for internal regulatory reporting and thus ensuring they meet business and regulatory standards. RMG team comprises of five functions working on models covering Market Risk, Economic capital, Market and counterparty Stress Testing, FRTB and Model Performance & Monitoring under one umbrella.

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

Analyst

Functional Title

Analyst/Senior Analyst

Experience

1 - 4 years

Qualification

Master’s in finance/economics or similar

Working Shift

EMEA

Requisition No.

14190

Role & Responsibilities:

Periodic Backtesting and Model Performance Monitoring (MPM) is a critical aspect in ensuring that models are functioning as intended. It involves monitoring the model's outputs, inputs, and performance metrics to ensure that the model is still accurate and relevant. Timely monitoring and analysis of model performance results can help mitigate model risk and improve the model's accuracy and effectiveness. The responsibilities include the following:

• Periodic backtesting/ performance monitoring of the following models:
  • Firm’s internal VaR model
  • SIMM (Standardized Initial Margin Model) model
  • FRTB internal models (via backtesting and P&L attribution test (PLA))
  • Other risk models
• Daily Backtesting of firm’s internal VaR model including FRTB models and related analysis at entity as well as desk level. It also involves detailed analysis across product classes and risk factors.
• SIMM (Standardized Initial Margin Model) model monitoring and reporting, which involves development and ownership of the backtesting/benchmarking methodology, identifying risk not in SIMM and in depth analysis on exception drivers by working across product classes.
• Analyse and review the backtesting exceptions with Risk managers and Product control and highlight deficiencies (if any) in the model.
• Good understanding of risk factors, sensitivity/greeks, valuations and trade lifecycle.
• Good understanding of financial products (bond, derivatives) and accounting/risk management processes around them.
• Working on various regulatory driven weekly, monthly and quarterly tasks which also involves reporting to external regulators and senior stakeholders.
• Work on various development projects including automation/migration of existing model to Python, PowerBI based EUC and maintain proper documentation by using tools such as Gitlab.
• To act as a subject matter expert for the related risk models and providing support to the model users (i.e. Risk managers)
• Interact with senior stakeholders across divisions such as Front office Quants, Finance, Risk management and IT to resolve issues.
• Discuss the results of backtesting in monthly forums with senior members in Risk management.
• Execute routine BAU tasks efficiently and accurately within the established framework and agreed-upon SLAs.
• This role centres on producing timely and accurate reports. It requires strong attention to detail, the ability to work efficiently under pressure, and a commitment to maintaining high standards in a fast-paced financial environment.
• The role demands adaptability to changing market conditions, including the willingness to extend work hours during periods of market volatility. Candidates should be prepared to adjust their schedules as needed to meet critical deadlines and operational requirements.

Mind Set:

Mandatory

Desired

Domain

• 1-4 years of experience either in Market risk or Product control with understanding of risk(VaR) & P&L.
• Strong inclination towards model development along with managing daily BAU deliverables.
• Fair understanding of programming and database languages such as Python, SQL, VBA and GITLAB
• Good understanding of financial products and its valuation.

• FRM/PRM/CFA certification would be added advantage

• Fair understanding of other tools such as Power BI,GIT, etc

• Fair understanding of FRTB backtesting and PLA test.

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).