Project Manager – Risk Stress Testing – Contract recruitment
Project Manager – Risk Stress Testing - Contract
Overview:
Nomura is a leading financial services group and the pre-eminent independent investment bank with worldwide reach. Backed by a strong balance sheet, we offer unrivalled asset raising abilities and have a proven record of delivering value for our clients.
We offer a broad range of innovative services tailored to the specific requirements of individual, institutional, corporate and government clients. In many cases our pioneering spirit creates new and differentiated solutions, but always with the reassurance that this is underpinned by a global intelligence network, knowledge and depth of experience in the financial markets.
Risk Management
The Risk Department at Nomura is broadly organised according to the main risk classes; Risk Management (Market risk and credit exposure measurement), Investment Evaluation and Credit (Credit), and Operational Risk. The Risk Department provides senior management with an independent view of the principal risks taken by individual business units. Risk Management consist of four teams with each area head reporting to the overall Head of Risk - Model Validation; Credit Exposure Measurement; Market Risk and Market Risk Standards and Change.
Due to the rapid business expansion as a result of the Lehman Bros acquisition and also the increase in regulatory requirements, there is an urgent need to increase Nomura’s stress testing capability globally and regionally. Previously stress testing was performed within market risk or credit exposure but not across all risk classes simultaneously or on a firm wide basis. Consequently, a new team has been created in order to facilitate the firm’s overall stress testing objectives which are summarised as follows:
- Perform stress testing at the firm-wide level across all risk classes (market, credit, operational, liquidity risks) as well as within risk class and trading book levels;
- Feed stress testing results into other business processes such as stressed revenues, capital planning, decision making and regulatory capital;
- Satisfy the FSA’s scenario requests and other infrastructure and control requirements.
Key responsibilities
• The role sits with the Stress Testing (ST) team but involves dealing with many other teams/functions outside the ST team. It is a process coordination and project management role focusing on all the aspects of Counterparty Credit Risk Stress Testing (CCR-ST).
• Manage CCR-ST projects (IT infrastructure improvements) to meet global extension requirements.
• Manage process improvements for CCR-ST with a focus on planning for a global extension and coordination across teams/functions.
• Help define the requirements/steps to ensure CCR-ST roll out globally.
• Coordinate the CCR-ST process across teams and across regions (BAU – monthly task).
• Liaise and improve communication with all stakeholders involved in the CCR-ST process (IT, Credit, Finance, Front Office, etc.).
• Accountable for the data quality and consistency of the CCR-ST output/reports.
• Accountable for timely delivery. Improvements needed to satisfy regulatory changes (IMM) and global extension.
Requirements:
• Experience working in an investment bank or related organisation (within a risk management/control team) would be a strong advantage.
• Proven experience in managing projects under tight deadline.
• Understanding of process coordination involving different teams/functions and spanning across different regions.
• Strong influencing skills. Role requires coordination of people and process supervision.
• Ability to summarize complex issues (data or process related) and to provide constructive/efficient solutions for them.
• Demonstrable ability to build relationships with the business at all levels.
• Understanding of CCR (OTC derivatives exposure, security finance transaction, etc.) and stress testing technique (scenario set up, analysis, etc.) a strong advantage but not essential.