Risk Management
4 weeks ago
“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: 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 ”.
Nomura 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.
Nomura is an equal opportunities employer. We are committed to providing equal opportunities throughout employment including in the recruitment, training and development of employees (including promotion, transfers, assignments and beliefs). We prohibit discrimination in the workplace whether on grounds of gender, marital or domestic partnership status, pregnancy, career’s responsibilities, sexual orientation, gender identity, race, color, national or ethnic origins, religious belief, disability or age. Our objective is to attract job applications and applications for development from the best possible candidates and to retain the best people.
Divisional 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
· Risk Methodology
· Model Validation
Business Unit Overview:
Model Validation:
The Model Validation Group (MVG) is globally responsible for independently validating the integrity and comprehensiveness of Risk Models, Valuation Models, IPV models, Liquidity models and Algo trading models in the firm. MVG also develops measures of Model Risk, monitoring Model Risk vs. the firm’s Model Risk Appetite and escalates model approval breaches.
Valuation Control Model Validation Group (VCMVG):
The Valuation Control Model Validation Group within Model Validation is the team that analyses, reviews & validates the models developed within the Valuation Control division. This group assesses the integrity and suitability of the Model parameters including calibrated and unobservable parameters, perform implementation testing and highlight any model risks. This group is also responsible to determine an appropriate classification for Model Risk Rating.
The outcome of the model review must be discussed and agreed with the Model Owners, who are primarily Global and Regional Heads of Valuations.
The current opening is for a quant in the VCMVG group. Additionally, the role also gives opportunity to develop additional into validation of derivative pricing and hedging models developed by Front Office (e.g. Libor Market Model, Local Volatility and Stochastic Volatility modelling approaches)
Position Specifications:
Corporate Title: Analyst/Associate
Functional Title: Senior Analyst/Associate
Experience: 2-4 years
Qualification: Grad/PostGrad with a strong degree in quantitative/ engineering domain or PGDM Finance
Role & Responsibilities
· Review internally and externally developed Valuation Control models (with additional opportunity to start working on Front Office derivative pricing models) – Ensure that the model meets its stated objective and intended use.
· Perform model validation which would include:
o Development of tools for Implementation testing to ensure that the production model is consistent with its theoretical basis
o Assessment of the integrity and suitability of Model parameters
o Analysis of Model Assumptions and quantification of model Risk
· Preparation of model validation documentation
· Ability to communicate with regional stakeholders and senior management
· Ability to work effectively on multiple projects across model types
Qualification, Experience & Skills:
· Prior Model development or Model validation experience preferably in Derivative Pricing Models(e.g. Libor Market Model, Heston, Local Volatility) or Valuation Control Models or Risk Models (e.g. VaR/Counterparty Exposure)
§ Strong preference for prior understanding of stochastic calculus
§ Good understanding of derivative products and their risk profile
§ Good understanding of derivative pricing
§ Advanced working knowledge of MS Excel and VBA with competency in one of the programming languages like Python
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