RSK-Model Validation Group (India)

Nomura; India; On-site; INR 900,000 - 1,300,000; Full time

Job summary

Nomura is seeking a risk model validation professional to join the Model Validation Group (MVG) in Mumbai. You will review models used by Economic and Quantitative Analytics teams supporting Investment Banking, contributing to governance and model risk management across multiple regulatory regimes.

The role offers exposure to cutting-edge model risk initiatives as AI and technology evolve, with collaboration across global teams and regulatory-aligned practices.

Qualifications

• Grad/PG with strong quantitative or engineering degree.
• Experience in risk management or model validation preferred.
• 1–6 years of experience in relevant domains.

Responsibilities

• Review and validate models used in the Nomura Research Division (Economics Research and Quantitative Analytics).
• Contribute to a robust model risk management framework across regulatory regimes (Japan, Europe, US).
• Collaborate with stakeholders to address challenges with flexibility and integrity.
• Support governance and documentation of model risk within the division.

Skills

Quantitative analysis

Model risk management

Model validation

Education

Engineering/Math/Stats/CS/Economics degree

Job description

Job Code: 13576

Country: IN

City: Mumbai

Skill Category: Risk

Description:

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 groups 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 groups 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 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 productive 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.

• Market Risk Management
• Credit Risk Management
• Risk Methodology
• Model Validation

Business Unit Overview:

Model Validation Group (MVG) is globally responsible for independently validating the integrity and comprehensiveness of models utilized in the firms business activities. MVG also develops measures of Model Risk, monitoring Model Risk vs. the firms Model Risk Appetite and escalates model approval breaches.

This position is primarily responsible for reviewing the models utilized in the Nomura Research Division (e.g., Economic Research and Quantitative Analytics team supporting the Investment Banking business). These models cover several critical areas, including:

• Financial market analysis (equities, FX, rates, and commodities)
• Economic research
• Corporate credit research (credit rating, credit spread)
• Valuation of convertible bonds

Position Specifications:

Corporate Title: Analyst/Associate

Functional Title: Analyst/Senior Analyst/Associate/Senior Associate/AVP

Experience: 1-6 years

Qualification: Grad/PostGrad with a strong degree in quantitative/ engineering domain or PGDM Finance

Role & Responsibilities:

• Based on Nomura Group's Model Risk Management Framework, you will primarily focus on validating models utilized in the Research Division, which include Equity Research, Economic Research, and Quantitative Analytics team supporting the Investment Banking division. Additionally, you will contribute to the establishment and promotion of model governance.
• Model risk management is currently gaining significant attention from the financial industry and regulatory authorities. In response, its scope has expanded to encompass all models utilized by financial institutions. Nomura Group has developed a robust framework based on a risk-based approach that complies with regulations in Japan, Europe, and the United States, and is working to implement it across all divisions.
• You will join a key project aimed at building a strong model risk management framework by addressing challenges with flexibility and integrity while collaborating closely with stakeholders. Given the limited domestic and global precedents in this area, this role represents a valuable opportunity to contribute to an initiative that holds significance not only for Nomura Group but also for the financial industry as a whole.
• With the rapid evolution of AI and other technologies, the importance of effective model risk management continues to grow. We look forward to welcoming new team members who aspire to deepen their expertise and build a meaningful career within this transformative field and its application to models used in Research division

Key Skills:

Mandatory

Desired

Domain

• A strong graduate/ post graduate degree in Engineering, Mathematics, Statistics, Computer Science, Economics