OTC Confirmations Oversight (Associate)

London, UK
Closing date
11 Feb 2021

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Contract Type

Job Details

Company overview
Nomura 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 business divisions: 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 further information about Nomura, visit www.nomura.com

Department overview:
The Oversight team based in London forms part of Operations Shared Services and provides key support and oversight to the offshore teams in Powai, India. OTC Confirmations Oversight look after all OTC Confirmations products, including Equity, FX, Rates and Credit, and the primary function of the team is to challenge and oversee the processes for the OTC Confirmations team.
The Oversight team also focus on the 'change the bank' strategy, targeting risk mitigation and cost reduction through process improvement and change implementation with key focus applied to identifying control gaps along with solutions for the business and enforcing Operational Standards effectively. The 'change the bank' scope also includes any market mandatory changes.

Role description
Oversight & Governance of the OTC Confirmations process
* Act as an escalation point/SME to internal stakeholders to assist with the resolution of OTC Confirmations related issues including aged outstanding confirmations and un-dispatched confirmations, and targeted focus on confirmations based on market or counterparty news, and counterparty concentration.
* Compilation and review of daily and weekly MIS reports and metrics for dissemination to Senior Operations Management.
* Liaise daily with the OTC Confirmations in Mumbai to resolve issues and build networks
* Monitoring and review of transaction exception items ensuring adequate narration and clearance.
* Provide BCP/RTR cover for any offshore critical processes.
* Oversight scope includes EMEA (Europe, Middle East and Africa) trades as well as providing oversight for NIP entity (Nomura International Plc) as a whole
Control Analysis and Supporting Framework
* Ongoing detailed review of the adequacy and effectiveness of existing controls within the oversight department.
* Assist management in implementing corrective projects and action plans associated with Risk and Control deficiencies/gaps.

* Review RCSA's as a live document to ensure risks are noted and measured appropriately.
* Participation/contribution towards any ODRG/Audit/Risk & Controls initiatives as required.
* Produce and maintain Oversight procedures.
* Assist management in the production and presentation of management and performance data in areas such as Volumes, Capacity and Control.
Project Involvement
* Assist management in implementing solutions to accommodate any potential market developments as required.
* Ensure you are well aware and participate in any Powai efficiency initiatives and aid the London Middle Offices and Traders to migrate to new workflow or KRI tools

Skills, experience, qualifications and knowledge required

* Excellent written and oral communication skills enabling the individual to liaise effectively and share information with Nomura senior management and other key stakeholders throughout the industry.
* A self motivator who is able to work proactively to identify opportunities for process improvement and/or and realising cost save.
* Must have good analytical skills and a strong attention to detail. The ability to question existing practises/procedures, ensuring efficiency and recognition of streamlining opportunities are all key.
* A strong sense of customer service and the abilty to prioritise workload and the expectations of internal clients.
* Ability to provide oversight to extended teams as required to facilitate control/change/improvement.
* Confidence to represent the department at any relevant internal or external meetings.
* Work well within an extended team environment (on shore and off shore) and take a keen interest in developing the function
* Must have a good understanding of the OTC Confirmations ISDA regulatory requirements
* Must have good understanding of the varied OTC Confirmations products
* Basic Excel skills required

* A detailed understanding of, and exposure to, a wide range of OTC products and stakeholders from previous experience of working in an investment bank or broker/dealer environment.
* A strong sense/awareness of market developments and initiatives.
* Confidence to represent the department at any relevant internal or external meetings.
* Strong skills in Word, Excel and PowerPoint preferred.

Nomura competencies
Culture & Conduct

• Makes significant culture contribution

• Sets diverse / inclusive work environment

• Demonstrates high professional integrity

• Actively participates in development opportunities

• Actively leverages strengths and addresses weaknesses
Client-Centricity & Business Acumen

• Expert in own business area, understands its market

• Generates commercial ideas to benefit clients

• Identifies and articulates core issues

• Assimilates and articulates complex information

• Develops workable recommendations
Strategy & Innovation

• Translates divisional and firm-wide strategies into plans

• Contributes innovative / entrepreneurial ideas

• Builds on others' insights and turns ideas into reality

• Knows when to decide / when to escalate

• Recognizes and takes action when changing circumstances require new approaches

• Adapts swiftly
Leadership & Collaboration

• Diligently and objectively evaluates own and others' performance throughout the year

• Identifies quality people

• Recognizes / communicates results, successes and learnings

• Collaborates within and across teams, involving the right people

• Supports / challenges colleagues

• Enables formal / informal development

• Anticipates potential conflict, takes steps to resolve
Communication & Connectivity

• Listens and communicates effectively at all levels

• Moves negotiations / discussions forward

• Gains co-operation / support for ideas

• Grows / maintains internal / external network

• Proactively works across teams / functions
Execution & Delivery

• Inspires positive commitment in others

• Keeps self / others focused on meeting goals

• Identifies conflicting priorities and manages accordingly

• Communicates changes to plans to relevant people

• Maintains commitment in the face of challenges

• Handles difficult feedback positively and constructively

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.

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