Risk Management – Quantitative Risk Management (Research Model) - Model Validation

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 :

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 models utilized in the firm’s business activities. MVG also develops measures of Model Risk, monitoring Model Risk vs. the firm’s Model Risk Appetite and escalates model approval breaches.

This position is primarily responsible for reviewing the models utilized in the Nomura Research Division (e.g., Economic Research and Quantitative Analytics team supporting the Investment Banking business). These models cover several critical areas, including :

Financial market analysis (equities, FX, rates, and commodities)

Economic research

Corporate credit research (credit rating, credit spread)

Valuation of convertible bonds

Position Specifications :

Corporate Title : Analyst / Associate

Functional Title : Analyst / Senior Analyst / Associate / Senior Associate / AVP

Experience : 1-6 years

Qualification :

Grad / PostGrad with a strong degree in quantitative / engineering domain or PGDM Finance

Role & Responsibilities :

Based on Nomura Group's Model Risk Management Framework, you will primarily focus on validating models utilized in the Research Division, which include Equity Research, Economic Research, and Quantitative Analytics team supporting the Investment Banking division. Additionally, you will contribute to the establishment and promotion of model governance.

Model risk management is currently gaining significant attention from the financial industry and regulatory authorities. In response, its scope has expanded to encompass all models utilized by financial institutions. Nomura Group has developed a robust framework based on a risk-based approach that complies with regulations in Japan, Europe, and the United States, and is working to implement it across all divisions.

You will join a key project aimed at building a strong model risk management framework by addressing challenges with flexibility and integrity while collaborating closely with stakeholders. Given the limited domestic and global precedents in this area, this role represents a valuable opportunity to contribute to an initiative that holds significance not only for Nomura Group but also for the financial industry as a whole.

With the rapid evolution of AI and other technologies, the importance of effective model risk management continues to grow. We look forward to welcoming new team members who aspire to deepen their expertise and build a meaningful career within this transformative field and its application to models used in Research division

Mind Set

A strong graduate / post graduate degree in Engineering, Mathematics, Statistics, Computer Science, Economics or other quantitative area

Expertise in at least one of the following areas :

Economic research

Market research of equities, interest rates, or FX (proficiency in one asset class is sufficient)

Corporate valuation

Corporate credit analysis

Valuation of convertible bonds

Exposure to AI, ML techniques

Technical

A strong graduate / post graduate degree in Engineering, Mathematics, Computer Science, Economics or other quantitative area

Proven work experience conducting quantitative analysis using programming (proficiency in Python, R, or VBA is required).

Strong written communication and reporting skills in English, as you will collaborate with overseas stakeholders

A proactive and collaborative attitude for working with stakeholders in various positions, demonstrating integrity and resilience while actively contributing to consensus building and the advancement of projects.

Cleared some levels of CFA

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).