Associate

Nomura Holdings, Inc.; Mumbai; On-site; INR 1,500,000 - 2,500,000; Full time

Job summary

Nomura Holdings, Inc. in Mumbai seeks a suspect valuations professional to support the EMEA Valuations Control team. You will perform IPV on credit products, prepare monthly packs for senior stakeholders, and help validate methodologies with close collaboration with Front Office and Risk Management.

The role emphasizes quantitative analysis, testing, and enhancements to controls, in a dynamic financial environment at Nomura's Powai center.

Qualifications

• Strong IPV experience and product knowledge.
• Experience in Prudent Valuation methodologies and front-office interactions.
• Excellent written and oral communication across seniority levels.

Responsibilities

• Perform IPV for Vanilla and Exotic Credit Products across businesses.
• Prepare monthly forum packs for Front Office, Risk Management and stakeholders.
• Assist Mumbai offshore centre with testing and validation tasks.
• Contribute to methodology enhancements and control design.

Skills

IPV experience

Valuation knowledge

Front office liaison

Quantitative skills

Education

Numerical degree

CFA/CQF/FRM (preferred)

Job description

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Nomura is an Asia-headquartered financial services group with an integrated global network spanning over 30 countries. 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. 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, (Powai) supports Nomura’s businesses around the world. Powai’ s world class capabilities in trading support, research, information technology, financial control, operations, risk management and legal support have played a key role in facilitating Nomura’s global operations and are an integral part of Nomura’s global expansion plans. The Powai operation is a critical part of the platform to support the growth of Nomura’s global business. Nomura is an equal opportunities employer. We are committed to providing equal opportunities throughout employment including in the recruitment, training and development of employees (including promotion, transfers, assignments and beliefs). We prohibit discrimination in the workplace whether on grounds of gender, marital or domestic partnership status, pregnancy, career’s responsibilities, sexual orientation, gender identity, race, color, national or ethnic origins, religious belief, disability or age. Our objective is to attract job applications and applications for development from the best possible candidates and to retain the best people.

Divisional Overview: Business Finance & Control includes Product Control, IPV, and Structured Deal Review. BFC works closely with the Wholesale division supporting the business and their trading activities. They also work closely with Risk, Operations, IT, Legal and Compliance as well as other functions within the Finance division. BFC provide management with valuable insight into the Wholesale trading performance and key financial information. 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 Independent Price Verification (IPV) team is an independent control function that ensures the accuracy and integrity of Nomura's trading book valuations through systematic verification of pricing models, methodologies, and fair value determinations. 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. Additionally, IPV opines on Day 1 P&L adjustments and assigns appropriate fair value hierarchy levels (Level 1, 2, and 3) to ensure compliance with ASC 820 valuation standard Business Overview: 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. This involves a close working relationship with the Front Office as well as all primary support partners including Market, Credit and Model Risk Management, Quants, Operations, other Finance teams and Legal.

Role & Responsibilities:

• Key Responsibilities
• 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

Skills, experience, qualifications and knowledge required:

• 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
• Prior Experience in Prudent Valuation Methodologies
• 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.
• Digital tool awareness