Job title: BRM Product Controller
Department: EMEA GMO, Finance
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
GMO is a key function within the Finance department, interacting with virtually every part of the firms businesses, products and technology systems. GMO is a global function with staff located in London, New York, India and across the Asia Pacific region focused on the integrity of transactional, risk and financial data.
GMO is amalgamation of both the Product Control and Operations functions, both of which work very closely with the trading desk and numerous other stakeholders.
Product Control is primarily responsible for understanding, substantiating and controlling the daily trading balance sheet and income statement for Nomura, to analyse the daily trading activities, to explain and report the trading divisions' profits and losses whilst ensuring that the Finance governance framework is maintained. Product Control support the execution of regular independent price verification to verify the values of positions held by the trading desks. In addition Product Control review and opine on new products and transactions ensuring full compliance with governance requirements and efficient deployment of the firm's financial resources.
Product Controllers are expected to develop a good understanding of the products they monitor and of the strategies used by the trading desk to generate revenue for Nomura. The function has become increasingly technical in content and offers a challenging and interesting role, suited to dynamic, bright and ambitious individuals with a drive to succeed.
Product Control has a significant presence and role within the organisation. It has a close working relationship with the trading desks, investment bankers and other corporate areas. It is the central point of contact for many issues that affect the firm including new transaction and product approval, understanding business performance and independent price verification of the trading inventory. It operates dynamically with a heavy focus on automation and technology and is involved in numerous cross departmental projects throughout the firm.
Product control management take a hands-on approach to running the department and are keen to reward hard work, enthusiasm and success. They positively promote the need to constantly question and challenge, to strive for improvements and to further your understanding, this leads to an ever changing and exciting environment. Nomura presents a unique opportunity to learn and gain experience of a broad range of products and business lines within a supportive setting and surrounded by skilled professionals. The strong team spirit is encouraged by regular departmental social and team-building events, and an emphasis is placed on achieving a healthy work-life balance.
The candidate will be a key member of the BRM GMO team responsible for all aspects of control and liaison with the Front Office, IT, Risk and other finance areas with respect to the BRM business which manage both CVA and FVA portfolios.
The candidate will have to liaise with the Traders to reconcile any differences or discrepancies and also be confident in dealing with Risk Management, Operations and Legal departments to resolve issues.
The candidate will be expected to take ownership of month-end processes including valuation controls, balance sheet substantiation and reporting to senior trading and finance management.
This role will provide a great deal of exposure to senior members of the company and will require excellent communication and presentation skills.
Key objectives critical to success
* Manage the offshore production hub and relationships with senior traders and other stakeholders such as business managers, regulatory reporting, risk management etc.
* Strong numerical and communication skills, demonstrate control mind-set and take initiative to identify and solve problems.
* Need to demonstrate confidence in discussing complex issues with senior individuals.
* Need to demonstrate pro-actively using initiative to improve processes and systems.
Skills, experience, qualifications and knowledge required
* Detailed understanding of the impact a CSA has on derivative valuation including CVA & FVA.
* Familiarity with credit, rate and FX derivatives.
* Strong interest in Financial Markets and Banking.
* Ability to face off with key business stakeholders.
* Product control experience and Accounting qualification.