EMEA Head Credit IPV (Vice President)

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.

Department overview: Valuations Control at Nomura is primarily responsible for understanding, reviewing and testing the marks and valuation adjustments used to value trading positions. The main functional responsibilities include:

• Frequent IPV;
• Ensuring that the appropriate accounting principles and reserves are applied to reach fair value;
• Calculation of Prudential Valuation capital adjustment;
• Development and application of rules for fair value hierarchy classification;
• Partnering with the Front Office and other support groups in facilitating and approving new products and initiatives, in particular determining reserving and revenue recognition approaches.

This involves a close working relationship with the Front Office as well as all primary support partners including Market, Credit and Model Risk Management, Quants, Operations, other Finance teams and Legal. Supporting the overall management and development of the EMEA Valuations Control team and working across regions to drive consistency.

Manage the team performing IPV for full spectrum of Vanilla and Exotic Credit Products across all businesses, including the review of the marking of CVA exposures. Determining methodology for and computation of relevant valuation adjustments. Responsible for management reporting of IPV, including detailed analysis of desk marking trends. Extensive degree of Front Office Trading and Quants, Product Control, MVG, Finance and senior management interaction. Opining on revenue recognition and reserving for new product/transaction approvals. Training and supervising Mumbai offshore centre to ensure appropriate, and accurate testing. Leading Valuation Control’s response regulatory requirements/requests (e.g. Prudential Valuation, Solvent Wind Down). Regular internal IPV and reserves reporting and audit/SOX related reporting. Supporting the resolution of collateral disputes on credit products. Reviewing, designing and enhancing controls. Responsibility for Fair Value Hierarchy classification for Credit products and Significant Unobservable disclosures under FAS157. Computation of quarterly Prudential Valuation Adjustments.

Skills, experience, qualifications and knowledge required:

• Numerical degree with history of strong academic performance required.
• Additional professional qualification from top university or institution preferable (ACA/CIMA, CQF, CFA, FRM, PRMIA).
• Strong IPV experience and product knowledge.
• Excellent written and oral communication skills required given the level of exposure to all levels of seniority and experience across businesses and regions.
• Understand clients’ needs and issues, and provide solutions utilizing Nomura Group company’s resources, earn the clients’ trust.
• Acquire a wide range of knowledge as an employee of Nomura, instead of focusing only on one’s own area of expertise; play a part in improving the company’s services level and corporate value.
• Take on new challenges for improvement and cultivate a corporate culture of challenge by driving change in business operations.
• Ensure views are not biased, accept different opinions and perspectives, and collaborate with other members to create common values.
• Provide appropriate guidance to others and act in a manner that places emphasis on the performance and growth of the organization.
• Improve further the understanding and awareness of corporate philosophy, professional ethics, compliance risk management, and code of conduct, and make decisions and take actions from a management position.

Diversity Statement: Nomura is committed to an employment policy of equal opportunities and is fundamentally opposed to any less favourable treatment accorded to existing or potential members of staff on the grounds of race, creed, colour, nationality, disability, marital status, pregnancy, gender or sexual orientation.

If you require any assistance or reasonable adjustments due to a disability or long-term health condition, please do not hesitate to contact us.

Right to Work: The UK Government have taken steps to reduce net migration to the UK by limiting the number of overseas workers from outside the EEA coming to the UK for employment. Please note that whilst we are able to consider applications from overseas workers from outside the EEA (who require a Tier 2 (General) visa) we can only employ them if we can provide evidence that there are no other suitable candidates for this vacancy from inside the EEA.

Please contact us if you are visiting our offices and require any form of personal assistance or physical adaptations to be provided for your appointment. A member of staff will be happy to help.

Nomura is an Equal Opportunity Employer.