Credit Risk

3 weeks ago

mumbai, India Nomura Full time
Nomura Overview:
Nomura is an Asia-headquartered 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: 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 Services India, (Powai) supports Nomura’s businesses around the world. Powai’s world class capabilities in trading support, research, information technology, financial control, operations, risk management and legal support have played a key role in facilitating Nomura’s global operations and are an integral part of Nomura’s global expansion plans. The Powai operation is a critical part of the platform to support the growth of Nomura’s global business.
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 area.
The Risk Department at Nomura is broadly organised according to the main risk classes Market Risk, Credit Risk, New Business and Operational Risk. The Risk Department provides senior management with an independent view of the principal risks taken by individual business units.
Business Unit Overview:
Credit Risk Management (CRM) is an independent risk oversight function, reporting to the Global Chief Risk Officer (CRO). Its mandate is to manage the risk of loss arising from an obligor or counterparty’s default, insolvency, or administrative proceeding, which results in the obligor’s failure to meet its contractual obligations in accordance with agreed terms.
The process for managing credit risk at Nomura includes:
Evaluation of likelihood that a counterparty defaults on its payments and obligations.
Assignment of internal ratings to all active counterparties.
Approval of extensions of credit and establishment of credit limits.
Measurement, monitoring and management of Nomura’s current and potential future credit exposures.
Setting credit terms in legal documentation, including margin terms; and
Use of appropriate credit risk mitigants, including netting, collateral, and hedging
CRM Powai
CRM Powai is an integral part of the CRM function globally, responsible for credit risk analysis of a diverse portfolio of counterparties across sectors and regions. The team is engaged in assigning credit ratings, carrying out sector and peer reviews, recommending and monitoring credit limits, suggesting credit terms for legal agreements, tracking early warning indicators, and various other portfolio and exposure management activities, as well as participating in global projects. The unit comprises of Credit Risk Analysis, Credit Risk Exposure management, Cash DVP, Portfolio and country risk sub teams.
Position Specifications:
Corporate Title: Associate
Functional Title: Associate / Senior Associate
Experience: 5 to 7 years
Qualification
Chartered Accountant, PGDM/MBA from top-tier Colleges, with prior experience in Insurance Credit Analysis and Rating preferred
Role & Responsibilities:
The Financial Institutions team covers a global portfolio of Financial Institutions. As a member of the team, you will:
Be responsible for independently reviewing and monitoring counterparties within the allocated Financial Institutions portfolio, which will primarily include Insurers. The portfolio also includes Banks, Brokers, and other Financial Institutions to a lesser extent. Specifically, you will -
Write credit reviews recommending credit ratings for insurance counterparties trading with Nomura. This includes an evaluation of a counterparty’s business model, its credit profile, macro-economic and sector trends, financial analysis, performance vs its peers etc.
Perform in-depth sector and peer reviews, highlighting key trends, growing risks, and possible risk mitigation to be undertaken by the firm.
Participate in due diligence calls and create due diligence notes.
Monitor the performance of counterparties and also closely track developments related to the counterparty, industry, economy, regulations, markets etc., which could adversely impact the credit profile of the counterparty.
Preparation and presenting detailed notes with the view/outlook and appropriate risk management action to senior management.
Assist regional analysts in setting and negotiating credit terms to be included in legal agreements with the counterparty.
Present at various forums on critical developments.
Determining Nomura’s trading capacity by assigning risk appetite to counterparties
Set or rationalize credit limits in conjunction with business activity with the counterparty.
Investigate limit excesses by liaising with Front Office, Operations and Exposure Analytics team, to determine the cause and escalate genuine breaches as per Credit Policies
Analyze stressed exposure under various scenarios and provide commentary on the same.
Participate in ad hoc projects related to rating methodology, portfolio monitoring, regulatory requirements etc.
Requirements:
Professional degree holders such as CAs, MBAs from reputed institutes or CFA
At least 3 years prior experience in analyzing Insurance companies and writing credit reviews is a must.
Must have excellent communication skills, both verbal and written
Ability to work in a global set-up, multi-tasking and handling several tasks and stakeholders independently.
Self-starter with the willingness to work independently and flexibly in a challenging environment.
Strong analytical skills and flexible thinking across disciplines
Proficiency in Microsoft Word, Excel and PowerPoint is a must.
Relevant Credit Research experience covering other Financial Institutions in EMEA region may be considered.
Knowledge of Python, Alteryx, PowerBI, SQL is desirable.

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