Associate

Nomura Holdings, inc.; Mumbai; On-site; INR 1,800,000 - 3,200,000; Full time

Benefits offered by this job

Wellbeing program

Wellbeing services

Holistic benefits

Job summary

Nomura is seeking a Model Risk Quant for AI applications and large language models. The role focuses on independent validation of AI models, risk analysis, and development of interpretability and monitoring frameworks across diverse AI use cases.

Based in Mumbai, the role requires 1–7 years of data science/AI experience and a strong technical background. The position involves collaboration with risk teams and stakeholders to manage AI-related risks.

Qualifications

• Independently validate AI models and test AI use cases.
• Assess AI model risk including bias/fairness/hallucination; test against business objectives.
• Develop model interpretability frameworks (SHAP, LIME, attention mechanisms).
• Conduct robustness testing against distribution shifts and edge cases.
• Monitor model performance to prevent drift and biased outputs.
• Design and implement model risk controls for AI use cases.
• Prepare model review documentation and support risk teams.

Responsibilities

• Independent Validation of AI Models, including assessment of conceptual soundness and AI parameters.
• Model Risk Analysis to identify and quantify AI Model Risk (bias, fairness, hallucination).
• Develop interpretability frameworks (SHAP, LIME) and attention mechanisms.
• Conduct robustness testing against distribution shifts and edge cases.
• Monitor performance and drift, ensure outputs remain aligned with objectives.
• Design and implement risk controls for AI use cases and document reviews.
• Support risk teams in understanding AI-related risks.

Skills

Gen AI concepts & LLMs

English communication

Stakeholder management

AI governance & regulations

Multimodal AI systems

Postgraduate AI focus

Education

Bachelor’s degree in computer science, Data Science, Engineering, Mathematics or related field

Tools

Python

scikit-learn

TensorFlow

LangGraph

LangChain

Job description

Nomura Overview:

Nomura is a financial services group with an integrated global network. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its four business divisions: Wealth Management, Investment Management, Wholesale (Global Markets and Investment Banking), and 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 across four international regions.

Divisional Overview:

The Risk Management Division encompasses the firm's comprehensive risk framework responsible for determining and managing the overall risk appetite for the firm. The division is responsible for effectively managing the firm's risk-return profile which ensures the efficient deployment of the firm's capital. It is one of the firm's 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 Overview:

Model Risk Management is a group within Risk Management headed by the Global Head of Model Risk responsible for:

(1) Executing and maintaining an effective Model Risk management framework.

(2) Producing a consolidated view of Model Risk for comparison with the Model Risk Appetite.

(3) Independently validating the integrity and comprehensiveness of the Models in the Firm.

Due to the extension of the scope of the Model Risk Management process, the Firm is seeking to recruit a Model Risk Quant for Artificial Intelligence Applications and Large Language Models (LLM). The successful candidate will have a strong technical background and will be responsible for the independent validation of Nomura’s AI Models and AI technologies across a wide variety of business functions. AI Use Cases include chatbots, sentiment analysis, translation tools, voice recognition tools, computer vision tools, data extraction tools and other state-of-the-art applications and LLMs.

What We Offer:

• We support employee wellbeing by ensuring a sense of purpose and belonging.
• We offer a comprehensive range of wellbeing services which allows employees to get access to the assistance they need at any point in their wellbeing journey.
• Our bespoke benefits support employees and their family’s holistic wellbeing and are inclusive of diverse identities and family structures.

Position Specifications:

Corporate Title

Analyst/Associate

Functional Title

Analyst/Associate/AVP

Experience

1-7 years

Qualification

Bachelor’s degree in computer science, Data Science, Engineering, Mathematics, or related field with experience in data science or quantitative analysis or text analytics (no financial services experience required)

Requisition No.

13009

Role & Responsibilities:

• Independent Validation of AI Models, including
• Assessment of conceptual soundness of AI Models and/or Use Cases, including the integrity and suitability of the AI parameters and prompts.
• Model Risk Analysis – to identify, analyse and quantify AI Model Risk such as bias/fairness/hallucination, which involves independent testing of the AI technology against its business objective.
• Develop Model interpretability and explainability frameworks (SHAP, LIME, attention mechanisms)
• Conduct Robustness testing against distribution shifts and edge cases
• Development and Execution of Model Performance Monitoring to ensure that AI Models are performing as intended and they do not drift, hallucinate or return biased outputs.
• Design and implementation of Model Risk Control processes for AI Use Cases.
• Preparation of model review documentation.
• Support risk teams in understanding and managing AI-related Risks

Mind Set:

Mandatory

• Knowledge of Gen AI, LLMs concepts, RAGs, agentic AI frameworks, and their applications
• Excellent verbal & written communication skills in English and competent in delivering high-quality evidence-based reports
• Self-motivated work attitude and ability to deal with various stakeholders
• Postgraduate degree in an AI-related area or any scientific area with a focus on AI technology and Language Models
• Knowledge of multimodal AI systems that combine text, image, and audio
• Knowledge of emerging AI regulations

Desired

Domain

• Knowledge of Gen AI, LLMs concepts, RAGs, agentic AI frameworks, and their applications
• Excellent verbal & written communication skills in English and competent in delivering high-quality evidence-based reports
• Self-motivated work attitude and ability to deal with various stakeholders
• Postgraduate degree in an AI-related area or any scientific area with a focus on AI technology and Language Models
• Knowledge of multimodal AI systems that combine text, image, and audio
• Knowledge of emerging AI regulations

Technical

• Experience in scientific programming & data visualization in Python and its libraries (e.g. scikit-learn, TensorFlow, exposure to agentic AI libraries and frameworks)
• Hands-on experience with querying and analyzing big datasets
• Cloud Platforms: Working knowledge of major cloud services, Gen AI platforms, and agentic AI deployment platforms (e.g. LangGraph, Lang Chain)
• SHAP/LIME (explainable AI techniques)

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).