RSK-Model Validation Group

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 firms comprehensive risk framework responsible for determining and managing the overall risk appetite for the firm. The division is responsible for effectively managing the firms risk-return profile which ensures the efficient deployment of the firms capital. It is one of the firms 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	Associate
Functional Title	Associate/ Sr. Associate/ AVP
Experience	3-6 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:

• • Development of tools for Implementation testing to ensure that the production model is consistent with its theoretical basis

• • Assessment of the integrity and suitability of Model parameters

• • 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

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).