Internal Auditor Market Risk

About the role

The Internal Auditor (VP) – Market Risk Management acts as the functional Subject Matter Expert (SME) for assessing the Second Line of Defense (2LoD) oversight of market risks within Nomura's Global Markets businesses.

Responsibilities

• Evaluate how Market Risk functions identify, measure, monitor, and report risk exposures, and how risk appetite frameworks translate across asset classes, products and regions.
• Assess the design and operating effectiveness of risk governance frameworks, including limit structures, escalation processes, and risk appetite adherence.
• Evaluate how Market Risk functions identify and assess emerging risks, including new products, trading strategies, market events, and changes in market conditions or liquidity.
• Evaluate the reliability and governance of risk metrics such as VaR, expected shortfall, stress metrics, sensitivities, and FRTB-related measures.
• Review monitoring and challenge processes applied to trading desk performance, market events, and emerging risk indicators.
• Evaluate governance over risk data aggregation and reporting, including data quality controls, reconciliation processes, management information accuracy and escalation of data quality issues.
• Develop and execute data-driven testing procedures to identify unusual patterns, control weaknesses, or governance gaps.
• Apply AI-assisted techniques to enhance audit risk coverage, automate control testing, or improve documentation review.
• Communicate audit findings and recommendations to Global Market Risk Management supporting remediation and continuous improvement.
• Ensure audit conclusions align with expectations under Basel III / FRTB, SR 11-7, and regulators such as SEC, CFTC/NFA, PRA, FCA, BaFin, and JFSA.

Requirements

• Deep understanding of Market Risk Management concepts: risk identification methodologies, VaR frameworks, stress testing, Greeks (delta, gamma, vega, theta, rho) and other risk sensitivities, exposure aggregation, and backtesting.
• Strong knowledge of risk appetite frameworks, governance structures, and escalation design.
• Ability to assess risk identification processes for new products, trading strategies, and emerging market risks.
• Ability to assess limit management, risk metric reliability, and independent challenge mechanisms.
• Knowledge of P&L attribution, risk factor decomposition, and variance analysis methodologies.
• Quantitative familiarity with market risk concepts across asset classes: Rates, Credit, Equities, FX, and Commodities.
• Understanding of cash and derivative products and their risk characteristics (e.g. RMBS, Structured Credit, options, swaps, structured products, exotics).
• Working knowledge of global regulatory standards (Basel/FRTB/ICAAP/ILAAP, SR 11-7, SEC/CFTC/NFA, PRA/FCA, BaFin, JFSA) and the role of 2LoD market risk oversight.

Qualifications

• 7-10 years of experience in Internal Audit, Market Risk, or risk related functions within an investment bank or financial institution.
• Bachelor’s or master’s degree in finance, Economics, Mathematics, Statistics, Engineering, or related quantitative discipline.
• Professional certifications (FRM, CFA, CPA, CIA) preferred.
• Exceptional analytical, communication, and problem-solving skills with proven ability to present technical findings to senior stakeholders.
• Demonstrated experience leading complex market risk audits across multiple jurisdictions or asset classes.
• Ability to work effectively within a small, global audit team and manage stakeholder relationships across functions and regions.

Skills, experience, qualifications and knowledge required

• Market Risk & Governance: Deep understanding of Market Risk Management concepts, strong knowledge of risk appetite frameworks, governance structures, and escalation design, ability to assess risk identification processes for new products, trading strategies, and emerging market risks, ability to assess limit management, risk metric reliability, and independent challenge mechanisms, knowledge of P&L attribution, risk factor decomposition, and variance analysis methodologies.
• Quantitative & Technical Knowledge: Quantitative familiarity with market risk concepts across asset classes, understanding of cash and derivative products and their risk characteristics, ability to interpret and challenge risk sensitivities, scenario outputs, and stress test results, familiarity with risk data aggregation principles and data quality requirements under regulatory frameworks.
• Data Analytics & Technology: Advanced proficiency in data analytics and automation, experience with AI and machine learning techniques for audit applications, familiarity with visualization tools and audit analytics platforms, ability to design and execute complex data analytics-driven testing strategies across large position and sensitivity datasets.
• Regulatory & Systems: Understanding of global regulatory standards (Basel/FRTB/ICAAP/ILAAP, SR 11-7, SEC/CFTC/NFA, PRA/FCA, BaFin, JFSA) and the role of 2LoD market risk oversight, working knowledge of adjacent risk areas (Model Risk, Valuation Control, Credit, Treasury) to support effective collaboration.

Benefits

The total compensation package for this position may also include other elements, including a sign-on bonus, restricted stock units, and discretionary awards in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave).

Pay

The pay range for this position at commencement of employment is expected to be between $160K and $180K/year.

Schedule

Nomura is an Equal Opportunity Employer.

Nearest Major Market

Manhattan

Nearest Secondary Market

New York City