Structured Rates Product Control- Vice President

Job Description

Job title: Structured Rates Product Control Corporate Title: Vice President Department: EMEA GMO Location: London Company overviewNomura 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 businessdivisions: 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 furtherinformation about Nomura, visit www.nomura.comOverview:Key objectives critical to success:PRODUCT CONTROL DEPT OVERVIEWProduct Control is a key function within the Finance department, interacting with virtually every part ofthe firms businesses, products and technology systems. Product Control is a global function with stafflocated in London, New York, India and across the Asia Pacific region.Product Control is primarily responsible for understanding, substantiating and controlling the dailytrading balance sheet and income statement for Nomura, to analyse the daily trading activities, to explainand report the trading divisions profits and losses whilst ensuring that the Finance governance frameworkis maintained. Product Control support the execution of regular independent price verification to verifythe values of positions held by the trading desks. In addition, Product Control review and opine on newproducts and transactions ensuring full compliance with governance requirements and efficientdeployment of the firms financial resources.Product Controllers are expected to develop a good understanding of the products they monitor and of thestrategies used by the trading desk to generate revenue for Nomura. The function has become increasinglytechnical in content and offers a challenging and interesting role, suited to dynamic, bright and ambitiousindividuals with a drive to succeed.Product Control has a significant presence and role within the organisation. It has a close workingrelationship with the trading desks, investment bankers and other corporate areas. It is the central point ofcontact for many issues that affect the firm including new transaction and product approval,understanding business performance and independent price verification of the trading inventory. Itoperates dynamically with a heavy focus on automation and technology and is involved in numerouscross departmental projects throughout the firm.Product control management take a hands-on approach to running the department and are keen to rewardhard work, enthusiasm and success. They positively promote the need to constantly question andchallenge, to strive for improvements and to further your understanding, this leads to an ever changingand exciting environment. Nomura presents a unique opportunity to learn and gain experience of a broadrange 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 anemphasis is placed on achieving a healthy work-life balance.ROLE DESCRIPTIONThe role is in the EMEA Structured Rates business. This business includes the Structured Rates Exoticsbusiness as well the Insurance Solutions and Structuring. These businesses are both diverse and complex,covering a variety of trading strategies and products including but not limited to exotic interest rates andreinsurance products namely variable annuity and regulatory capital financing transactions.The candidate will be responsible for all aspects of control and liaison with the Front Office, RiskManagement, IT, Middle Office and other finance teams. The candidate will be one of the finance pointsof contact for the business on new products and new transactions. They will also be responsible forperforming assessments of transactions including PL recognition and reserving, deal review, review offinancial resource metrics and reporting and presenting to both local and global senior financemanagement.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 EMEA Structured Rates 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.

• Ensure that all activities are carried out in full compliance with Product Controls policies and

procedures and internal Nomuras Policies and Policy Standards.

• Represent Finances interest on key firm wide projects.

KEY SKILLS AND EXPERIENCE REQUIRED

• Relevant product control experience with a strong understanding and experience of derivatives and

financial instruments, preferably structured rates products such as but not limited to Bermudan Swaptionsand CMS linked swaps and options. Some knowledge of insurance products would also be desirable butnot essential. Preferably a quali