FIN-Global Middle Office

Location

Mumbai | India

Job description

Finance Middle Office - Product Control - Manager & AVP

Nomura Overview:

Nomura is an Asia-headquartered 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 four business divisions: Retail, Asset Management, Wholesale (Global Markets and Investment Banking), and Merchant 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

Nomura Services India, (Powai) supports Nomura's businesses around the world. Powai' s world class capabilities in trading support, research, information technology, financial control, operations, risk management and legal support have played a key role in facilitating Nomura's global operations and are an integral part of Nomura's global expansion plans. The Powai operation is a critical part of the platform to support the growth of Nomura's global business.

Divisional Overview:

Global Middle Office (GMO) is a control function focused on the integrity of key transactional, risk and financial data and reporting. GMO will also perform an Advisory role partnering with the business and management to help deliver the firm-wide strategy. To achieve this GMO will leverage the latest Digital Innovation & Automation (DI&A) opportunities to optimize GMO's efficiency and operating model. Key Responsibilities include:

• Data Management:

Providing a complete and validated data set of transactional information, efficiencies in the production and proactive management of these data sets

• Control:

Provide assurance on accuracy of firms financial statements through daily PL validation, Risk Model inputs, Proactive management of internal inventory and collateral obligations to ensure key liquidity / collateral requirements are optimized

• Advisory:

Provide business support and oversight on new products/transactions, financial resources, liquidity management and trade bookings. Propose and implement FTB process improvements institute performance analytics and help navigate regulatory, industry and account changes

Team Overview:

Prime Finance has four major business - Equity Financing, F&O Facilitation, Synthetics PB and Cash Prime Brokerage. Profile involves daily reconciliation and reporting of Prime Finance P&L to desk.

Product Control Team Reports T+1 Trading P&L for all the regions across various asset classes. The

Primary responsibility for a product controller is to produce P&L for the trading desk, substantiate the

P&L numbers, explain the P&L to both the traders and onshore regional controllers and ensure that they maintain a 'control' environment.

Position Specifications:

Associate

Manager / Assistant Vice President

6 - 8 years / relevant experience of at least 4-5 years

CA/MBA in Finance with additional qualification of FRM or CFA is desirable

Roles & Responsibilities :

• Person will be responsible for producing daily T+1 P&L production within one of the following product lines: Equities, Equity Derivatives or Fixed Income products
• To ensure that the daily P & L is accurately reported to the FO & reconciled between P & L tools & management reporting tools.
• To ensure that the relevant P&L and Balance sheet positions are correctly reported at month ends and that the applicable reconciliations have been completed and all issues identified/resolved.
• Providing daily commentary on P&L swings and variance investigation to Front office traders and senior finance managers
• To coordinate the completion and delivery of the tasks allocated to the team.
• Review daily adjustments and control accounts and ensure all daily and aged breaks are followed up and resolved
• Accountable for performance and associated risks for all activities performed within the P&L group and ensuring SLAs are met
• Foster an environment that understands and effectively manages risk and control guidelines
• Liaison with onshore controllers and resolve adhoc issues concerning bookings, valuations, new business, strategy and other areas
• Perform UAT testing for new system implementation, process enhancements etc. and identifies risks involved and co-ordinate with respective teams for resolution
• Active engagement in continuous process improvement and change
• To ensure that applicable accounting standards are adhered to regarding P&L and Balance Sheet reporting.
• To ensure that Global policies are adhered to at all times and are kept fully up to date with any changes in the business requirements
• To act as trouble shooter within the team.
• Lead, motivate and manage a team of 5-10 people. Responsible for recruitment, training and development, talent management and retention

Mind Set:

Mandatory

• Good understanding of the P&L production and reporting methodology for the P&L's.
• Broad understanding of the product types traded by the desk and any valuation issues thereof.
• Good understanding of the relationship between Valuations and P&L teams within the bank and the various areas of interaction required.
• Strong knowledge of key Financial Reporting
• Broad overview of Product Control's interaction with Regulatory Reporting
• Ability to understand the booking structure for complex trades and raise relevant issues to Product Control management.
• Good Logical reasoning skills, ability to apply existing knowledge to take logical approach while solving new un-seen issues.
• Confident in double entry accounting associated with products under their control
• Strong analytical skills and detail oriented

• MS office - Intermediate level
• Basic VBA skills

• Strong presentation skills, ability to communicate clearly and effectively in both oral and written form
• Ability to liaise and interact effectively with other departments such as Valuations, Operations, Regional counterparts and Front Office

Job tags

Salary