Head of Market Abuse Detection and Compliance Surveillance (Executive Director)

Department Overview

Nomura's Compliance department is at the forefront of maintaining regulatory adherence and ethical standards. Our team works diligently to ensure that our business operations align with industry regulations and internal policies. Join us to contribute to a culture of integrity and help safeguard our clients' trust.

Role Description

The Head of Nomura Europe Holdings (NEHS) Market Abuse Detection and Compliance Surveillance sits within NEHS Compliance. The core Market Abuse Detection and Surveillance Team is based in London and Powai, India. The team currently has a hybrid approach to working with the main office situated near Cannon Street. The role is a senior management role with responsibilities for strategy, designing, maintenance and oversight the market abuse detection framework including trade and communications surveillance.

• Oversight of trade and communications surveillance teams including tasks outsourced to other Nomura affiliates.
• Operating as an effective member of the Compliance department and engaging with Compliance colleagues to help facilitate a coordinated approach to surveillance matters.
• Driving the long-term surveillance strategy trade and communications for NEHS, including data management and analytics, to align with evolving regulatory, technological, and business environments for NEHS.
• Activities including but not limited to:
• Market Abuse Risk Assessments.
• Scope of surveillance coverage.
• Data strategy and governance
• Regulatory / STOR submissions
• Overseeing model risk management activities
• KPIs and MI.
• Overseeing the team based in London and Powai.
• Oversight of cross-border surveillance in the context of NEHS activity cross-border
• Strategic input and support to Japan management in surveillance globalisation initiatives
• Developing an AI strategy for market abuse surveillance utilising appropriate governance and developing implementation plans.

Compliance Surveillance

• Establish and oversee the escalation processes, relevant procedures and frameworks. And ensure that surveillance activities are executed accordingly.
• Act as the primary liaison for regulators on surveillance matters, ensuring continued readiness for regulatory inspections.
• Proactively collaborate with colleagues across the Front Office, Compliance Advisory, Legal and Risk Management to ensure comprehensive surveillance coverage of all asset classes and build the profile of the team within Nomura.
• Partner with Technology to develop and manage the data and tooling and to ensure the successful implementation of the strategic plan. This will include managing the ongoing Book of Work of enhancements within the global framework.
• Ensure the continuing effectiveness of all surveillance controls, including overseeing effectiveness reviews and testing, including maintaining supporting documentation and evidence.
• Prepare and present relevant information and supporting evidence to Compliance Management of suspicious trading activity identified through existing surveillance tasks or escalations and, where appropriate, the filing of regulatory notifications such as Suspicious Transaction and Order Reports (STOR) and Market Observations (MO).
• Develop and oversee enhancements including leveraging data analytics and AI to enhance surveillance efficiency and alert quality.
• Identify new or enhanced monitoring and surveillance activities that address the changing business structure or regulatory environment and ensure that a robust approach is taken to mitigate regulatory risk.
• Provide support to Japan management and strategic insight into the globalisation of surveillance in Nomura
• Manage the transfer of a separate Nomura Group entity’s Surveillance team across into the NEHS Surveillance Team. This will include managing the integration of all trade and communication surveillance tools.

Management

• Oversight of the Surveillance data strategy.
• Chair quarterly NEHS Surveillance Governance meetings.
• Represent Nomura by attending industry wide surveillance forums, such as the FCA’s Investment Banking Surveillance Forum and AFME’s Surveillance Working Group.
• Develop a sustainable process for horizon scanning for regulatory updates and enforcement actions and, where relevant, provide updates or highlight potential gaps within current controls.
• Lead Regulatory and/or Exchange enquiries and investigations as well as any internal front office referrals requiring investigation.
• Oversee the performance of vendor provided surveillance services in line with the firm’s Vendor Management Framework.

Regional Coordination

• Work with regional Compliance offices to ensure appropriate surveillance coverage is in line with local risk profiles and regulatory/exchange requirements in line with NEHS needs. Build and oversee the appropriate governance.
• Co-chair Cross-border surveillance meetings and act as a regional lead  when considering any cross-border surveillance initiatives or surveillance related matters that have an NEHS nexus.
• Design and operate the surveillance governance framework, including reporting management information (MI), key risk metrics, and audit findings to senior management and committees for NEHS.
• Coordinate the provision of monthly MI and Key Performance Indicators to senior management and other stakeholders covering Surveillance related initiatives and associated risks.

Skills, experience, qualifications and knowledge required

• An end-to-end process mind set
• Sound compliance risk management judgement and inclusive leadership skills.
• Extensive experience of market abuse surveillance and a deep knowledge of trade surveillance and communications regulatory expectations across major jurisdictions.
• Excellent communication and interpersonal skills including the ability to interact effectively with stakeholders of all levels and senior management.
• Ability to manage priorities, work independently and respond proactively to business needs.
• Desire to improve processes or methods of working, and influence change.
• A disciplined approach to data management
• Strong analytical, advisory and time management skills;
• Ability to manage a pipeline of work with different priorities, work independently and respond proactively to business needs.
• The desire and drive to improve processes or methods of working, and influence change.

Nomura Leadership Behaviours

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

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