Risk Model Validation Associate

Nomura; New York (NY); On-site; USD 80,000 - 120,000; Full time

Benefits offered by this job

Competitive benefits package

Professional development opportunities

Job summary

Nomura is seeking a candidate for Model Risk Management within their Risk department in New York. The role involves developing a Model Risk Management Framework and independently validating models for use. Candidates should have a postgraduate degree in a quantitative discipline and 1-3 years of relevant experience.

The ideal candidate will be familiar with statistical programming and concepts related to Risk Models. Join us at Nomura to help navigate risk and make informed decisions in a rapidly changing market.

Qualifications

• 1-3 years of experience in Model Risk.
• Familiarity with econometrics and statistical programming.

Responsibilities

• Develop and enforce a Model Risk Management Framework.
• Validate, review and approve Models for their intended uses.
• Assess conceptual soundness and develop benchmark models.

Skills

Statistical programming (e.g. R, Python)

Model Risk Management

Econometrics

Stochastic calculus

Risk Models (e.g. VaR, Stress Testing)

Education

Postgraduate degree in a quantitative discipline

Job description

The pay range for this position at commencement of employment is expected to be between $XX and $XX/ [hour/year]*

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

Aon’s Benefit Index ® , Nomura’s benefits rank #1 amongst our competitors

Department Overview

Nomura's Risk department plays a crucial role in identifying, assessing, and mitigating risks across our business. We strive to protect the firm's assets, reputation, and financial stability by implementing robust risk management practices. Join our team and contribute to our proactive approach in managing risks, allowing us to make informed decisions and thrive in an ever-changing market environment.

Role Description

Model Risk Management is a group within Risk Management responsible for:

• Developing, executing and enforcing an effective Model Risk Management Framework.
• Producing a consolidated view of Model Risk for comparison with the Model Risk Appetite.
• Independently validating, reviewing and approving Models for their intended uses.

This role will focus on Risk Models and will be responsible for a range of tasks throughout the Model Lifecycle including assessing conceptual soundness, performing sensitivity analysis, verifying proper model implementation, developing benchmark models and reviewing model performance.

Skills, Experience, Qualifications And Knowledge Required

• A postgraduate degree in a quantitative discipline.
• 1-3 years of experience in Model Risk.
• Familiarity with econometrics, stochastic calculus and statistical programming (e.g. R, Python).
• Familiarity with Risk Models preferred (e.g. VaR, Stress Testing, Counterparty Credit Risk Models).

Nomura Leadership Behaviours

• Explore Insights & Vision: Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.
• Making Strategic Decisions: Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.
• Inspire Entrepreneurship in People: Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.
• Elevate Organizational Capability: Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.
• Base pay offered may vary depending on multiple individualized factors, including market location, corporate and functional title and duties, job-related knowledge and advanced degrees, skills, and experience.

If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors

Nomura is an Equal Opportunity Employer