Credit Risk Audit - Associate

Corporate Title: Associate

Department: Internal Audit

Location: New York, NY

The pay range for this position at commencement of employment is expected to be between $110K and $130K/year* (see below footnote for additional compensation and benefits information). 

 

Company overview

Nomura is a global financial services group with an integrated network spanning over 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Wholesale (Global Markets and Investment Banking), and Investment Management. 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.

 

Aon’s Benefit Index®, Nomura’s benefits rank #1 amongst our competitors

 

Department Overview:

Nomura's Global Internal Audit Division provides independent assurance to senior management and the Board, reinforcing the firm's sound risk culture and control environment. We operate across major financial centers and collaborate closely with the First and Second Lines of Defense to evaluate and enhance governance, risk management, and regulatory compliance.

 

 

Role Overview:
The Internal Auditor Associate – Credit & Market Risk 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.

 

The auditor will evaluate how Credit & Market Risk functions identify, measure, monitor, and report risk exposures, and how risk appetite frameworks translate across asset classes, products and regions. This role focuses exclusively on market risk management audits—model validation and valuation control reviews are handled by separate specialized audit functions. However, familiarity with how models and valuation processes feed into market risk frameworks is expected to ensure effective collaboration with Nomura's Model Risk and Valuation audit SMEs.  Familiarity with FRTB and other market risk capitalization frameworks also important for collaboration with-in audit and understanding the materiality of issues raised.

 

This is a hands-on, analytical role suited to professionals who combine regulatory and product knowledge with a quantitative mindset, advanced analytics capabilities, and strong stakeholder engagement skills.

 

 

 

Role Description / Areas of responsibility:

• Define the scope of and execute assurance work over Wholesale Credit Risk audits regionally and globally, as required.
• Working closely with the global counterparts, assist in risk assessing the Credit Risk Audit entities under his/her specific responsibility.
• Remain current on any changes to Nomura’s risk profile through continuously monitoring the assigned area of responsibility and establishing close contact with key risk stakeholders. This includes a quarterly formal report that opines on (1) Changes to the Audit Universe; (2) Changes to underlying risk assessments, and; (3) Changes to the Audit Plan.
• Stay actively engaged in all phases of the risk audit, from agreeing the audit plan to approving testing plans, completing and reviewing work-papers, producing draft reports and monitoring budgets and deadlines.
• Participate in other functional audits such as market, credit, liquidity and operational risks.
• Work with the Credit Risk Audit team to define an appropriate engagement model on individual product audits - the front to back reviews for a particular business line.
• Ensure all audit work is executed in accordance with Departmental Audit Methodology and documentation standards. Ensure that each audit is completed within budget (time and effort).
• Be responsible for effective follow up and verifying raised in reports are closed.
• Carry out special projects, ad hoc investigations and advisory work, keeping the Head of Risk Audit up to date on all key findings and emerging issues.
• Developing and implementing data analytics and automated testing to identif