XVA Product Controller- CVA, FVA - Associate | London, UK

Nomura International; London; On-site; GBP 50,000 - 90,000; Full time

Job description

XVA Product Controller- CVA, FVA - Associate

Nomura International London, United Kingdom

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 is a key function within the Finance department, interacting with virtually every part of the firm's businesses, products and technology systems. Product Control is a global function with staff located in London, New York, India and across the Asia Pacific region. Product Control is primarily responsible for understanding, substantiating and controlling the daily trading balance sheet and income statement for Nomura, analysing the daily trading activities and explaining both the trading divisions' revenue and FTP costs. Product Control reviews and opines on new products and transactions ensuring compliance with accounting, regulatory and valuation guidance and the efficient deployment of the firm's financial resources.

Product Controllers are expected to develop a good understanding of the products they monitor and of the risk exposure and funding management methods used by the trading desk to optimise resources for Nomura. The function has become increasingly technical in content and offers a challenging and interesting role, suited to dynamic, bright and ambitious individuals with a drive to succeed. Product Control has a significant presence and role within the organisation. It has a close working relationship with the trading desks, Risk and other corporate areas. It is the central point of contact for many issues that affect the firm including new transaction and product approval, understanding business performance and independent price verification and reserves. It operates dynamically with a heavy focus on automation and technology and is involved in numerous cross departmental projects throughout the firm.

Nomura presents a unique opportunity to learn and gain experience of a broad range of products and business lines within a supportive setting and surrounded by skilled professionals. The team operate under a hybrid working model.

Role description:

• Key member of the Business Resource Management (BRM) Product Control team.
• BRM is Nomura's XVA desk, comprised of both CVA and FVA and whose role is the effective management of Nomura's counterparty credit and funding risk.
• The FVA desk is run globally from EMEA, with the Global FVA head based in London.
• The successful candidate will be expected to manage the FVA aspect of BRM on a daily basis, running coordination and oversight globally across Asia, Japan and the US and managing the Global Powai Hub in India.
• The role will involve facing off to the Global FVA head on a daily basis, alongside over 10 other BRM traders based in London.
• Responsibilities include trade verification, daily PL, adhoc query resolution, KRI reporting, driving change and daily flash.
• They must understand, maintain and enhance processes utilising knowledge of XVA and controls.
• Partner with Front Office and other control functions to build and develop control and governance frameworks for bespoke and developing business lines.

Skills, experience, qualifications and knowledge required:

• Product Control experience required.
• Accounting qualification and/or numerate degree preferable.
• Familiarity with credit, rate and FX derivatives.
• Detailed understanding of the impact a CSA has on derivative valuation including CVA & FVA.
• Manage relationships with senior traders and other stakeholders such as the offshore teams, business managers, regulatory reporting, risk management etc.
• Strong numerical and communication skills, demonstrate a control mind-set and take initiative to identify and solve problems.
• Need to demonstrate confidence in discussing complex issues with senior individuals.
• Need to demonstrate pro-actively using initiative to improve processes and systems.
• Planning and organizational skills; executing priority actions on-time, keeping stakeholders updated and managing expectations.

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.