Valuations Quantitative Methodology and Models Product Controller (Associate)

Job title: Valuations Quantitative Methodology and Models Associate

Corporate Title: Associate

Department: Valuations Product Control

Location: London

Company 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.

Department overview:

Product Control Valuations at Nomura is primarily responsible for understanding, reviewing and testing the marks and valuation adjustments used to value trading positions. The main functional responsibilities include: frequent testing of front office marks to external levels; ensuring that the appropriate accounting principles and reserves are applied to reach fair value; calculation of Prudential Valuation capital adjustment; development and application of rules for fair value hierarchy classification; partnering with the Front Office and other support groups in facilitating and approving new products and initiatives, in particular determining reserving and revenue recognition approaches. This involves a close working relationship with the Front Office as well as all primary support partners including Risk Management, Quants, Model Validation Group, Operations, Finance and Legal.

Role description:

• Performance and design of IPV across asset classes, with particular focus on exotic products
• Emphasis on developing methodologies to calibrate internal inputs and pricing models to external pricing data. This will involve theoretical research, programming implementation, and system integration and liaising with model risk to submit development documentation for model approval
• Determining methodology for and computation of relevant valuation adjustments and associated model approval
• Responsible for management reporting of IPV, including detailed analysis of desk marking trends
• Reviewing, designing and enhancing controls through automation whilst also establishing appropriate ongoing support model
• Extensive degree of Front Office, Product Control, MVG, Finance and senior management interaction
• Opining on revenue recognition and reserving for new product / transaction approvals
• Training and supervising Mumbai offshore centre to ensure appropriate, and accurate testing
• Resolution of collateral disputes across products
• The role also requires assistance with Fair Value Hierarchy classification across products under FAS157
• Computation of quarterly Prudential Valuation Adjustments and Significant Unobservable disclosures

Skills, experience, qualifications and knowledge required:

• Numerical degree and post graduate qualification (Masters or PhD) with history of strong academic performance required.
• Understanding of financial mathematics is desirable. Additional professional qualification from top university or institution preferable (ACA/CIMA, CQF, CFA, FRM, PRMIA).
• Python programming skills essential
• Excellent written and oral communication skills required given the level of exposure to all levels of seniority and experience across businesses and regions.

Nomura competencies

Trusted Partner

• Understand clients’ needs and issues, and respond with high-quality proposals
• Acquire capabilities to perform one’s responsibilities and contribute to being a Trusted Partner

Entrepreneurial leadership

• Produce new ideas that might challenge the status-quo or oneself

Teamwork Collaboration

• Seek advice from senior colleagues and utilize it for improved results
• Collaborate with members from relevant departments

Influence

• Contribute to the success of the organization both quantitatively and qualitatively, and act with awareness of the impact on others
• Serve as role model and provide guidance to junior employees

Integrity

• Have a good understanding of corporate philosophy, professional ethics, compliance, risk management, and code of conduct, and make decisions and take actions accordingly

Diversity Statement:

Nomura is committed to an employment policy of equal opportunities and is fundamentally opposed to any less favourable treatment accorded to existing or potential members of staff on the grounds of race, creed, colour, nationality, disability, marital status, pregnancy, gender or sexual orientation. If you require any assistance or reasonable adjustments due to a disability or long-term health condition, please do not hesitate to contact us.

Right to Work

The UK Government have taken steps to reduce net migration to the UK by limiting the number of overseas workers from outside the EEA coming to the UK for employment. Please note that whilst we are able to consider applications from overseas workers from outside the EEA (who require a Tier 2 (General) visa) we can only employ them if we can provide evidence that there are no other suitable candidates for this vacancy from inside the EEA.

Please contact us if you are visiting our offices and require any form of personal assistance or physical adaptations to be provided for your appointment. A member of staff will be happy to help.

Nomura is an Equal Opportunity Employer