Nomura India
Nomura India | Associate
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Job Highlights
About the team
Valuations Control 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 IPV; 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.
Responsibilities
- By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Retail, Asset Management, Wholesale (Global Markets and Investment Banking), and Merchant Banking.
- Our objective is to attract job applications and applications for development from the best possible candidates and to retain the best people.
- The Product Control team is an independent control function that ensures the integrity of Nomura’s financial statements with the preparation and independent verification of daily and monthly P&Ls. In addition, PC review trade booking and valuation flows, preform balance sheet reconciliation and substantiation, as well as the independent price verification of Nomura’s trading inventory.
- The team performs regular price testing against market sources, validates model inputs and assumptions, and collaborates with front office and risk management to resolve pricing discrepancies.
- Supporting the day-to-day activities of the EMEA Valuations Control team and collaborating with regional counterparts to maintain consistency in processes.
- Performing IPV for a full spectrum of Vanilla and Exotic Credit Products across all businesses, including the review of CVA exposure markings.
- Analyze and present untested inventory and relevant commentary on alternative approaches used.
- Prepare and present monthly forum packs for Front Office, Risk Management, and other stakeholders covering open items, IPV variances, reserves, untested items and commentary.
- Help standardize the execution of newly required tasks so that these can be mechanized to be performed by specialized team.
- Assisting in determining methodology for and computation of relevant valuation adjustments.
- Contributing to management reporting of IPV, including detailed analysis of desk marking trends.
- Frequent interaction with Front Office Trading and Quants, Product Control, MVG, and Finance stakeholders.
- Assisting in the assessment of revenue recognition and reserving for new product / transaction approvals.
- Coordinating with the Mumbai offshore centre to ensure appropriate and accurate testing.
- Supporting Valuation Control's response to regulatory requirements / requests (e.g. Prudent Valuation, Trading Wind Down).
- Preparing internal IPV and reserves reporting and supporting audit / SOX related reporting.
- Assist and advise Mumbai offshore team on resolution of issues related to valuation and methodology implementation.
- Assisting in reviewing, designing and enhancing controls, including an appreciation of digital tools and how they can be applied in a controlled and effective manner.
- Supporting Fair Value Hierarchy classification for Credit products and Significant Unobservable disclosures under FAS157.
- Supporting computation of quarterly Prudent Valuation Adjustments and contributing to methodology enhancements over time.
- Numerical degree with history of strong academic performance required.
- Additional professional qualification from top university or institution preferable (CFA, CQF, CFA, FRM, PRMIA).
- Strong IPV experience and product knowledge.
- Experience in dealing with Front office with regards to valuation issues and IPV adjustments.
- Excellent written and oral communication skills required given the level of exposure to all levels of seniority and experience across businesses and regions.
About the company
Nomura
Nomura is a Japanese financial services group, founded in 1925 and headquartered in Tokyo, with a network spanning around 30 countries and regions. Its business is organised into four divisions: Wealth Management, Investment Management, Wholesale (Global Markets and Investment Banking) and Banking.
In India, Nomura Services India in Powai, Mumbai supports the group's global businesses with teams in financial control and reporting, risk management, operations, research, trading support, compliance, legal and technology. Roles in financial control, product control, regulatory reporting, risk, audit and operations there suit chartered accountants, ACCA and CFA professionals and MBA (Finance) graduates.
