EMEA FX & EM Product Control (Vice President)

JOB DESCRIPTION

Job title: EMEA FX & EM Product Control (Vice President

Corporate Title: Vice President

Department: Finance

Location: London

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 

Product Control is a key function within the Finance department, interacting with virtually every part of the firms businesses, products and technology systems. Product Control 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. 

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. 

Overview:

The role is in the EMEA FX & EM Product Control Team. This business includes Flow and Options based desks as well as more complex structured products. These businesses are both diverse and complex, covering a variety of trading strategies and products including but not limited to exotic options, structured note issuances, deal contingent transactions and a spectrum of non-linear rates products.

The candidate will be responsible for all aspects of control and liaison with the Front Office, Risk Management, IT, Middle Office and other finance teams. The candidate will be one of the finance points of contact for the business on new products and new transactions. They will also be responsible for performing assessments of transactions including PL recognition and reserving, deal review, review of financial resource metrics and reporting and presenting to both local and global senior finance management.

KEY RESPONSIBILITIES

• Managing the reporting of a comprehensive daily trading PL and balance sheet, including PL Explain with detailed commentary covering PL drivers, trading activity, key exposures and market context.
• Carry out intelligent analysis and challenge the business performance, trading activity, deployment of financial resources and adherence to governance requirements.
• New deal analysis with responsibility for coordinating Finance wide reviews of new products and new transactions reporting conclusions to senior finance management.
• Own the business relationship, opine and validate PL recognition challenges and reserve requirements.
• Responsible for financial resource and return calculations on new transactions as well as understanding all aspects of financial resource consumption such as capital, balance sheet and leverage exposure for the business.
• Stakeholder management across Trading, Risk, Middle Office, Operations and IT.
• Monitoring of key controls and reconciliations, owning the adherence to policies and procedures.
• Constantly challenge the status quo and look for opportunities to improve the control environment, maintaining best practice control standards.

KEY SKILLS AND EXPERIENCE REQUIRED

• Relevant product control experience with a strong understanding and experience of FX cash and derivatives financial instruments, including options and forwards products. Some knowledge of structure note products would also be desirable but not essential.
• Preferably a qualified accountant (CIMA, ACCA, ACA, etc)
• Good academics, preferably in a numerate subject.
• Self-starter with strong time management and multi-tasking skills.
• Ability to face off with key business stakeholders.
• Strong communication skills and attention to detail with analytical capability and a can do attitude.
• Track record of improving controls and processes and adding value to clients/stakeholders.

Nomura competencies

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 

• Respect DEI, foster a culture of psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).

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. 

Nomura is an Equal Opportunity Employer