Risk Methodology, Economic and Credit Model Associate

London, United Kingdom
23 Sep 2022
23 Oct 2022
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
Job title: Risk Methodology - Backtesting and PLA Associate

Corporate Title: Associate

Department: Risk Management

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:

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 Global Backtesting Team is part of the Market Risk Methodology Department and is responsible for ensuring risk models are performing within acceptable thresholds. Backtesting is centralised in London for all entities globally.

Role & Responsibilities:
  • Assist in developing and testing an FRTB compliant PLA and backtesting process.
  • Performance of daily backtesting process and Profit and Loss attribution test.
  • Early identification and reporting of backtesting exceptions, and highlighting issues with the PLA test.
  • Review the results of the backtesting process, liaising with Finance (Product Control) and Risk managers to understand and analyse exceptions from a profit and loss and VaR perspective, and ensure that comments given are valid.
  • Preparing reports to senior management and regulators. Ensuring any anomalies are highlighted and investigated.
  • Identifying and resolving process and other issues, and making improvements where required.

Skills, experience, qualifications and knowledge required:

  • 5+ years of experience either in Market risk or finance/product control
  • Good understanding of financial products (Bond, Derivatives), and accounting/ risk management process around these.
  • Understanding of VaR.
  • Good written and verbal communication skills.
  • Degree or equivalent in a relevant discipline.

  • A strong Mathematical background.
  • Experience in accounting / finance / product control and familiar with processes in the area.
  • FRM/PRM/CFA other accounting qualification would be added advantage.
  • Knowledge of Python, SQL, VBA.
  • Knowledge of financial products and risk reporting, experience working in product control will be helpful.

Nomura competencies

Trusted Partner
  • Understand clients' needs and issues, and respond with high-quality proposals
  • Acquire capabilities to perform one's responsibilities and contribute to being a Trusted Partner

Entrepreneurial leadership
  • Produce new ideas that might challenge the status-quo or oneself


  • Seek advice from senior colleagues and utilize it for improved results
  • Collaborate with members from relevant departments

  • Contribute to the success of the organization both quantitatively and qualitatively, and act with awareness of the impact on others
  • Serve as role model and provide guidance to junior employees

  • Have a good understanding of corporate philosophy, professional ethics, compliance, risk management, and code of conduct, and make decisions and take actions accordingly

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.

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