Risk Management – Model Governance - Vice President

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:

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 Risk Management
• Operational Risk

Business Overview:

The Model Risk Management function comprises Model Validation Teams and the Model Governance Team.

• The Model Governance Team provides centralized oversight and coordination of enterprise-wide model risk management, encompassing framework development, risk reporting, inventory management; and additionally fulfils the business management/COO responsibilities for the Model Risk Management function

• Model Validation Teams validate the integrity and comprehensiveness of models and equivalent used across the firm's divisions and business operations.

The current role will sit in the Model Governance tea. The role will support the development and implementation of enterprise-wide model risk management. The successful applicant must demonstrate experience in model risk governance across framework design, risk and control assessment, risk reporting, and inventory management; combined with understanding of related regulatory requirements in jurisdictions where NHI Group operates , and model business applications. This role requires the ability to effectively engage, influence and challenge stakeholders at all levels while maintaining risk commensurate control standards.

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: VP/ Associate

Functional Title: VP/AVP/ Senior Associate

Experience: 5 years+

Qualification: Grad/Post Grad/ MBA

Role & Responsibilities:

Model Risk Framework Design & Implementation: • Design and implement model risk management policy, procedure and standards with evolving regulatory standards, industry best practices and internal requirements. • Conduct risk assessments to evaluate control effectiveness, governance gaps across the model lifecycle; and develop remediation plans. • Establish model risk appetite statement and level with corresponding monitoring and reporting mechanisms. • Develop risk-based model tiering and classification systems to ensure proportionate governance based on model complexity and business impact. • Support model identification firm-wide. • Design model governance committee structures and decision-making processes.

Model Risk Reporting & Analytics: • Design and produce model risk reporting including executive dashboards, risk metrics, and trend analysis. • Create reporting protocols that communicate model risk profile to senior management and committees. • Perform model risk data analysis across business lines and model types.

Model Inventory Management & Architecture: • Establish and maintain comprehensive model inventory systems capturing model metadata, risk classifications, and control status. • Design inventory architecture and data governance to ensure accurate, complete, and timely model information. • Implement model lifecycle tracking from development through retirement, including change management and version control. • Develop automated inventory reporting and monitoring capabilities to support ongoing governance oversight.

Stakeholder Management: • Represent the Model Risk Management function at various forums with credible governance expertise. • Develop and deliver model risk training firm-wide. • Collaborate with model developers, business users, and risk teams to enhance model risk culture and governance awareness. • Contribute to regulatory interactions including recurring meetings and ad hoc information requests with substantive governance insights.

Mind Set:

Domain

• Minimum 5+ years of model risk governance experience across framework design, risk and control assessment, risk reporting, and inventory management
• Demonstrated understanding of model business applications.
• Experience with regulatory requirements.
• Technical proficiency in risk reporting tools, inventory systems, and governance platforms.
• Attention to detail, coupled with strong written and oral communication skills

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).