EMEA Rates IPV Controller- Associate Level (Daria20012022) City of London, England
JOB DESCRIPTION
Job title: EMEA Rates IPV Controller
Corporate Title: Associate
Department: Valuations Product Control
Location: London
Company overview
Nomura is an Asia-based financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset 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
Department overview:
Product Control Valuations 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 testing of front office marks to external levels; 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 Risk Management, Quants, Model Validation Group, Operations, Finance and Legal.
Role description:
- Perform IPV for full spectrum of Vanilla and Exotic Rates Products across all businesses, including the review of the marking of XVA 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, 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
- Conducting reports for all relevant areas covering regulatory requirements (e.g. Prudential Valuation, Solvent Wind Down), internal management reports and audit / SOX related reporting
- Resolution of collateral disputes on rates products
- Reviewing, designing and enhancing controls
- The role also requires assistance with Fair Value Hierarchy classification for Rates products under FAS157
- Computation of quarterly Prudential Valuation Adjustments and Significant Unobservable disclosures
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).
Excellent written and oral communication skills required given the level of exposure to all levels of seniority and experience across businesses and regions.
VBA / SQL / Alteryx / Python programming skills would be preferable, but not essential.
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 competencies
Culture & Conduct
- Makes significant culture contribution
- Sets diverse / inclusive work environment
- Demonstrates high professional integrity
- Actively participates in development opportunities
- Actively leverages strengths and addresses weaknesses
Client-Centricity & Business Acumen
- Expert in own business area, understands its market
- Generates commercial ideas to benefit clients
- Identifies and articulates core issues
- Assimilates and articulates complex information
- Develops workable recommendations
Strategy & Innovation
- Translates divisional and firm-wide strategies into plans
- Contributes innovative / entrepreneurial ideas
- Builds on others' insights and turns ideas into reality
- Knows when to decide / when to escalate
- Recognizes and takes action when changing circumstances require new approaches
- Adapts swiftly
Leadership & Collaboration
- Diligently and objectively evaluates own and others' performance throughout the year
- Identifies quality people
- Recognizes / communicates results, successes and learnings
- Collaborates within and across teams, involving the right people
- Supports / challenges colleagues
- Enables formal / informal development
- Anticipates potential conflict, takes steps to resolve
Communication & Connectivity
- Listens and communicates effectively at all levels
- Moves negotiations / discussions forward
- Gains co-operation / support for ideas
- Grows / maintains internal / external network
- Proactively works across teams / functions
Execution & Delivery
- Inspires positive commitment in others
- Keeps self / others focused on meeting goals
- Identifies conflicting priorities and manages accordingly
- Communicates changes to plans to relevant people
- Maintains commitment in the face of challenges
- Handles difficult feedback positively and constructively
Right to Work
The UK Government have taken steps to reduce net migration to the UK by limiting the number of overseas workers coming to the UK for employment. Please note that whilst we are able to consider applications from overseas workers from outside the UK (who require a Tier 2 Skilled Worker visa) we can only employ them if we can provide evidence that this is a genuine vacancy for a qualified role
Diversity & Inclusion
Nomura is an equal opportunity employer. We value diversity and are committed to ensuring we best reflect the diversity of the communities we serve creating an inclusive environment for all our employees. We welcome all applications and do not discriminate on the basis of age, disability, gender identity and gender expression, pregnancy and maternity, marriage and civil partnership, race, religion or belief, sex 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.