Credit Risk Management - Executive Director, Hedge Funds + Private Equity

About this role

Job Title: Credit Risk Management – Executive Director, Hedge Funds + Private Equity

Corporate Title: Executive Director

Department: Risk Management

Location: New York

The pay range for this position at commencement of employment is expected to be between $220,000 and $260,000 annually.

* (see below footnote for additional compensation and benefits information).

Company overview

Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment 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.

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

Division Overview:

Credit Risk Management (CRM) is a key function in protecting the Firm and ensuring prudent risk-taking. CRM is responsible for analyzing counterparty creditworthiness, assigning internal credit ratings, establishing and managing credit risk limits in accordance with the risk tolerance.  In addition, CRM measures and controls credit exposure associated with lending, financing and trading activities. CRM is a “Second Line of Defense” control function.

Within CRM, the Hedge Funds (HF) and Private Equity (PE) credit team is responsible for managing all credit risk involving this large and diverse set of clients. The HF & PE Team sits within the Counterparty Credit Risk silo organizationally and works closely with colleagues in other areas of risk and other functions globally including, Front Office, Legal, Finance, Operations and Collateral Management.

Role Description:

This is a leadership role that carries delegated credit approval authority and reports into the Global Head of Hedge Funds and Private Equity Credit Risk.  The candidate will be responsible for independently managing and monitoring exposure to a diverse portfolio of fund counterparties generated by activities including OTC derivatives, securities financing, prime brokerage, loan agreements, and other structured or bespoke transactions. The role requires strong technical expertise in hedge fund and private equity fund credit risk, proven stakeholder management skills, and the ability to lead and develop a high-performing team.

Key Responsibilities

Review and approve credit memos, ratings and limits under delegated authority; assess creditworthiness of hedge funds and private equity funds through comprehensive analysis of fund strategy, performance attribution, liquidity profile, leverage, and manager or sponsor strength

Conduct due diligence visits and calls with HF and PE clients; analyze trading strategies, risk management frameworks, performance metrics, operational controls and governance structures to produce high-quality credit assessments

Collaborate with Front Office Risk and other risk functions to understand stress loss scenarios; perform ongoing monitoring including monthly/quarterly NAV reviews, performance attribution analysis, and proactive identification of deteriorating credit quality; review credit limit breaches and recommend appropriate credit actions when risk appetite thresholds are exceeded

Review and approve trading activity, margin requirements and structural enhancements to transactions; oversee daily trade approvals in coordination with other risk teams and establish appropriate margining requirements

Define credit terms and covenants for legal documentation including Prime Brokerage agreements, ISDA/CSA, GMRA, and negotiate legal documentation while maintaining thorough understanding of associated covenants

Maintain close communication with HF and PE team leads globally and monitor international risk developments; present comprehensive Americas portfolio risk summaries at global risk review calls and regional/global risk committees

Establish and maintain constructive relationships with Front Office, Market Risk, Legal, Operations, Compliance and Finance; oversee client engagement and credit standards in coordination with key firmwide stakeholders

Support enhancement of specialized data analytics and portfolio monitoring tools; lead or participate in firmwide projects such as credit policy development, system implementations, and regulatory

Skills, experience, qualifications and knowledge required:

12+ years of relevant experience in managing credit risk to Hedge Funds and/or Private Equity Funds at a major financial institution, with proven team management experience including application of delegated approval authority

Deep understanding of alternative investment strategies and well-versed in leading client due diligence meetings; experience in both hedge funds and private equity transactions/structures strongly preferred

Strong knowledge of all major derivative instruments and Prime Brokerage products/services with full understanding of their respective risk characteristics; thorough understanding of master trading documentation (ISDA, CSA, GMRA, F&O, Prime Brokerage agreements)

Strong quantitative skills with ability to interpret complex risk metrics for informed credit decision-making; comprehensive understanding of portfolio trade risks and credit risk frameworks

Proven ability to lead, develop and mentor analysts in a fast-paced, high-pressure environment with ability to prioritize and complete tasks according to project needs

Excellent interpersonal and communication skills with demonstrated ability to engage effectively with Sales teams, Front Office, and external clients at all levels; strong negotiation and consensus-building abilities

Experience working closely with various business partners such as sales/trading, market risk, legal, operations and client integration; demonstrated business and project management acumen with executive presence

Bachelor's degree in Finance, Economics, Mathematics, or related field required; advanced degree

Nomura Competencies

Explore Insights & Vision

Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.

Making Strategic Decisions

Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.

Inspire Entrepreneurship in People

Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.

Elevate Organizational Capability

Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.

Inclusion

Foster a culture of inclusion and psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).

*base pay offered may vary depending on multiple individualized factors, including market location, corporate and functional title and duties, job-related knowledge and advanced degrees, skills, and experience. The total compensation package for this position may also include other elements, including a sign-on bonus, restricted stock units, discretionary awards and eligibility for commissions for applicable sales roles 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), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.

If hired in the U.S., employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors”.

Nomura is an Equal Opportunity Employer