Global Head of Model Governance (Executive Director)

Nomura International; London; On-site; GBP 80,000 - 150,000; Full time

Job description

Job title: Global Head of Model Governance

Corporate Title: Executive Director

Company overview

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. For further information about Nomura, visit www.nomura.com.

Department overview
The Model Risk Management function is part of the Risk Division and has a global footprint, reporting into the Group Chief Risk Officer. The department comprises several Model validation teams and the Model Governance Team, working with all functions across the firm and plays a critical role in managing Model Risk for Nomura.

The Model Governance Team is responsible for establishing, maintaining and enhancing the firm's Model Risk Management framework. This includes the Policies, Standards and Procedures, Cross Functional Engagement, the Model Risk Appetite Framework, Management Information & Reporting, Regulatory communications, business management, and technology change & oversight, amongst other areas.

Role overview:

The Global Head of Model Governance is responsible for the oversight and execution of Model Governance responsibilities across Nomura. Reporting into the Global Head of Model Risk Management, the Global Head of Model Governance will lead a team of 10 colleagues, spread across several regions, and will play a role in steering Nomura through changes to its Model Risk Management framework in line with supervisory expectations across multiple global regulators.

The role requires a strategic and highly structured candidate, capable of influencing senior stakeholders across the firm and being a strong agent for change across the organisation. Given the complexity of Model Risk and the significant changes required to enhance the Model Risk Management framework, the successful candidate will need to be detail-oriented and experienced in change management and transformation, an excellent relationship builder and will have strong leadership qualities, capable of leading a large team across a wide range of areas. Prior experience in Model Risk Management is a pre-requisite with model validation experience preferable.

Primary Responsibilities:

• Review and challenge policies, procedures, and process documents as well as maintain and evolve existing governance documents to meet regulatory and internal requirements
• Sponsor a large remediation programme focussing material enhancements to the firm's Model Risk Management framework.
• Oversee Model Risk Management's Risk & Control Self Assessments and engagement with both Internal and External Audit teams.
• Oversee the development and delivery of a firm-wide Model Risk training and education programme
• Attend and present at key Governance Committees and Forums as the Model Risk representative. This can include various Risk Management Committees, cross functional committees and operational forums.
• Respond to, and engage with, regulators (e.g. PRA, JFSA, CFTC), as well as attending and presenting to regulators on Model Risk framework related topics.
• Oversee Nomura's process and approach to model identification and inventory management, engaging with senior stakeholders across all parts of the firm.
• Prepare analysis and presentations in support of strategic proposals and initiatives

Skills, experience, qualifications and knowledge required:

Essential

• Relevant experience in the financial industry
• Strong knowledge of Model Risk Management governance standards for best practice
• Experience in regulatory and internal audit interaction, exam management/coordination, and issue management/resolution
• Experience with leading large teams and able to inspire and cultivate talent
• Knowledge of best practice for policy and procedure management and design
• Attention to detail, coupled with good written and oral communication skills
• Strong willingness to learn and be able to work both independently and in collaboration with others, as required
• Organised approach to work with an ability to present complex subjects in an accessible manner
• Adaptability to change and ability to build strong relationships and gaining influence to support change across the firm
• A Risk and control mind-set with the ability to operate as a risk-manager

Nomura competencies

• Trusted Partner: Besides having a high level of expertise as a financial service professional, strive to retain clients' trust. Make appropriate decisions in all circumstances to ensure that Nomura will remain a Trusted Partner.
• Entrepreneurial leadership: Drive change across the organization by predicting change in the environment.
• Teamwork Collaboration: Collaborate with different people across the organization, and leverage the diversity to contribute to the growth and profitability of Nomura as a whole organization.
• Influence: Drive strategies and clarify responsibilities of one's business area, and motivate others to contribute towards business success.
• Integrity: Influence others to fully understand the significance and importance of corporate philosophy, professional ethic, compliance, risk management, and code of conduct, and make decisions to take actions accordingly in any circumstance.

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