RSK-Market Risk

Nomura; Mumbai; On-site; INR 4,500,000 - 6,500,000; Full time

Job summary

Nomura India Risk Management is seeking a Vice President-level Risk Manager for Rates Structured and Exotics. You will partner with trading centers, analyze risk sensitivities and stress tests, and own risk reports for traders and leadership.

You will supervise junior staff and collaborate across global hubs. Deep knowledge of Rates derivatives, exotic/structured payoffs, and VaR/Economic Capital is essential.

Qualifications

• Good knowledge of Financial Products (derivatives, exotic/structured payoffs).
• Understanding of option greeks and higher-order sensitivities.
• Working knowledge of derivatives pricing models.
• Background in a numerical discipline (engineering, math, science).
• Understanding risk sensitivities and VaR/Economic Capital.
• Strong analytical, quantitative, and technical abilities.
• Ability to challenge traders and senior stakeholders under pressure.
• Strong written and oral communication skills.

Responsibilities

• Partner with risk managers in trading centers as senior escalation point.
• Analyze risk sensitivities and stress tests (vega, skew, correlation).
• Own risk reports for traders and senior management.
• Maintain and challenge the limit framework; monitor limit excesses.
• Prepare reports and escalation to senior management.
• Provide ad-hoc risk views and drill-down analyses.
• Collaborate with Quants and Risk Methodology; supervise junior risk managers.
• Drive improvements through re-engineering of risk reporting with front-office tech.

Skills

Financial products

Option greeks

Pricing models

Numerical discipline

Risk sensitivities

Analytical skills

Stakeholder influence

Communication skills

Education

MBA or Masters

CFA/FRM

Tools

Python for Finance

Microsoft Excel

BI Tools

Job description

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.

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:

Risk Management Division in Powai has the following functions – Credit risk, Market risk, Quant risk, Model Validation, Operational risk and Market Risk Infrastructure.

Business Overview:

Market Risk Management works to identify, monitor and controlthe firm’s exposure to risk, analyze stress test results, and provide analysis on new products and businesses. Powai Market Risk managers liaise with the risk managers in the trading centres on a daily basis to help manage their market exposure, set & review risk strategies. Major activities involve daily analysis and interpretation of the results of risk sensitivities; validation of Value At Risk (VaR), RWA, Economic Capital numbers and sign-off on the relevant Risk systems, working on global projects for enhancement of Market Risk & preparation of risk reports for traders and senior business management. Risk managers are also expected to automate/re-engineer the risk reporting process and provide ad-hoc risk views and drill down analysis of less transparent risks and issues of importance to senior Risk Management/Trading Heads

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

Vice President

Functional Title

Vice President

Experience

7 to 10 Years

Qualification

MBA from a reputed institute or Masters with engineering/math/science/CA background

Requisition No.

15205

Responsibilities and Requirements:

As a dedicated risk manager for the Rates Structured and Exotics business areas, the candidate will be responsible for managing the following:

• Partnering with the risk managers in the trading centers as senior escalation point, setting & challenging risk strategies
• Daily analysis and interpretation of risk sensitivities and stress tests, including vega surface, skew and correlation risks
• Ownership of risk reports for traders and senior business management
• Ownership of the limit framework, including limit levels and resolution of limit excesses
• Preparation of reports and escalation to senior management
• Ad-hoc risk views and drill down analysis of less transparent risks, including model reliance and unhedgeable risks
• Review and challenge of new and bespoke structured trades with Quants and Risk Methodology
• Supervision of junior risk managers and global collaboration across London, New York and Tokyo
• Re-engineering of the risk reporting process including interactions with Risk and front Office technology personnel to drive improvements

The Risk Manager will need to understand the traded products in these asset classes, factors influencing markets and their implications for risk management decisions. In particular, we are looking for candidates with knowledge of Rates derivatives, with depth in exotic and structured payoffs, and exposure to flow and structured fixed income desks

Candidate is expected to understand what drives the risk profiles of Fixed Income and structured instruments in different market conditions (exposure profiles, higher-order sensitivities and model dependency) and implications of how the markets are evolving, with the credibility to challenge traders, quants and senior management

Mind Set:

Mandatory

• Good knowledge of Financial Products (especially derivatives including exotic and structured payoffs), Financial Markets, Economics
• Understanding of option greeks and higher-order sensitivities (vega surface, skew, convexity, cross-gamma, correlation)
• Working knowledge of derivatives pricing models, calibration and their limitations
• Background in a numerical discipline: engineering; math; science; etc.
• Understanding of risk sensitivities and VaR/Economic Capital
• Strong analytical, quantitative and technical abilities
• Ability to challenge and influence traders and senior stakeholders, and hold a position under pressure
• Strong communication skills (oral and written)

Desired

• Masters (MBA preferred) from a tier-1 institution
• Certification in CFA/FRM

Technical

Mandatory

• Python for Finance
• Proficiency in Microsoft Excel

Desired

• BI Tools

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).