Job Title: Model Risk - Risk Model Validation
Corporate Title: Associate
Department: Risk Management - Model Risk Management
Location: New York, NY
The pay range for this position at commencement of employment is expected to be between $115,000 and $135,000/ year. * (see below footnote for additional compensation and benefits information).
Role Description:Model Risk Management is a group within Risk Management responsible for:
- Developing, executing and enforcing an effective Model Risk Management Framework.
- Producing a consolidated view of Model Risk for comparison with the Model Risk Appetite.
- Independently validating, reviewing and approving Models for their intended uses.
This role will focus on Risk Models and will be responsible for a range of tasks throughout the Model Lifecycle including assessing conceptual soundness, performing sensitivity analysis, verifying proper model implementation, developing benchmark models and reviewing model performance.
Skills, experience, qualifications and knowledge required:- A postgraduate degree in a quantitative discipline.
- 1-3 years of experience in Model Risk.
- Familiarity with econometrics, stochastic calculus and statistical programming (e.g. R, Python).
- Familiarity with Risk Models preferred (e.g. VaR, Stress Testing, Counterparty Credit Risk Models).
Nomura Leadership Behaviours- Explore Insights & Vision: Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.
- Making Strategic Decisions: Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.
- Inspire Entrepreneurship in People: Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.
- Elevate Organizational Capability: Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.
- Inclusion: Foster a culture of inclusion and psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).
*base pay offered may vary depending on multiple individualized factors, including market location, corporate and functional title and duties, job-related knowledge and advanced degrees, skills, and experience.
If hired, employee will be in an "at-will position" and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors".
