Risk Management– Treasury Model Validation -Associate

Nomura 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.

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.

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 Validation

Business Overview:

Quantitative Risk Management- Model Validation:

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.

The Model Validation Group is a global team that assesses the appropriateness of financial and risk management models to ensure that they are fit-for-purpose. The team is independent of those who design and build the models. The current position will focus mainly on validation of Treasury models.

Treasury Risk Model Validation:

As a Treasury Models Validation member you'll be the validator for Treasury owned models used for Liquidity / Funding management & for Regulatory disclosures. The coverage is global. The role will combine your qualitative and quantitative skills to work with the lead validator to correctly identify key issues & viable remediation actions and communicate results at different forums with exposure to senior stakeholders. You will be responsible to ensure that model risk is appropriately managed according to the Bank's Model Risk Policy and Standards and comply with regulatory requirements. The role sits within a team where knowledge sharing is highly promoted.

Position Specifications:

Corporate Title: Associate

Functional Title: Associate

Experience: 3-5 years

Qualification: Grad/PostGrad in a quantitative field

Overview:

The Model Validation Specialist will play a key role in independently assessing the risks and robustness of Treasury models used for funding, liquidity, and related on- and off-balance sheet risk measurement. The role involves deep engagement with model owners, development teams, and business experts to ensure models are fit-for-purpose, compliant with internal and regulatory policies, and deliver reliable outputs to support risk management decisions.

• Develop a comprehensive understanding of the firm's Internal Model Risk Management Policies and Standards (including validation templates, procedures, and development templates)

• Independent Model Validation:
• Conduct rigorous validation of Treasury models by reviewing:
• Data quality and integrity
• Model methodologies and conceptual soundness - rigorously challenge model design choices as required.
• Appropriateness of model assumptions and documented limitations - rigorously challenge
• Technical implementation accuracy
• Model risk analyses, including sensitivity and stress testing results
• Ensure the model's performance aligns with its stated objectives.

• Robust Challenge & Critical Review:
• Develop and maintain an independent technical and methodological viewpoint on Treasury models. Take an independent and critical stance in challenging existing models, questioning assumptions, outputs, and approaches to identify potential weaknesses or gaps
• Cross-Functional Collaboration:
• Work closely with model owners, Treasury Risk Management, business stakeholders, and development teams to clarify model design decisions and assumptions, and to ensure that identified model risks are adequately addressed.
• Governance & Documentation:
• Review and advise on model development documentation to ensure it complies with firm standards and regulatory requirements; guide model owners on documentation improvements and validation approach where needed.
• Validation Reporting:
• Prepare clear, comprehensive validation reports articulating findings, challenges, and conclusions. Facilitate review and obtain agreement from relevant stakeholders on validation outcomes.
• Remediation Oversight:
• Recommend actionable remediation plans to address identified model risks, monitor progress, and ensure timely resolution of validation issues.
• Model Performance Monitoring (MPM):
• Review ongoing performance monitoring of validated models, including reviewing back-testing results, and updating risk assessments as necessary.
• Model Repository Maintenance:
• Ensure that all validation documentation, reports, and relevant model information are accurately maintained and up-to-date within the official Model Database and governance platforms.

Mind Set:

Domain

• Degree in quantitative subject (Math, Engineering, Statistics, Economics with quantitative minor, or equivalent)
• Basic understanding of balance sheet items, ALM
• Basic understanding of Liquidity & Funding management
• Basic knowledge of relevant regulatory landscape (Basel III, ILAAP, LCR, NSFR)
• Good written communication in English
• Ability to communicate and influence effectively
• Strong critical thinking skills and demonstrated ability to produce clear, concise written reports

• Relevant work experience, preferably in liquidity risk model development or validation
• Sound knowledge of treasury business, credit risk and credit rating models
• Knowledge of Treasury instruments, pricing models, and embedded risks
• Experience with behavioural modelling
• Ability to organize & plan
• Highly organised in terms of documentation and follow through

Technical

• Basic exposure to a major programming language (e.g., Python, R) and coding
• Strong analytical and problem-solving skills
• Familiarity with statistical or quantitative software tools
• Experience with advanced statistical or modelling software (e.g. SAS, Matlab)
• Knowledge of data extraction, transformation and loading processes (ETL)
• Understanding of model risk management frameworks
• Experience with model performance monitoring and validation 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