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We are looking for the next generation of entrepreneurs and leaders to shape our future

About Nomura

Careers in global investment banking

Make an impression

At Nomura you will discover a unique spirit and proud heritage. Since 1925, Nomura has built on a commitment to deliver unique value to clients by connecting markets East & West. We continue to service our clients in a differentiated way, providing creative and entrepreneurial solutions.

If you are keen to be a part of a highly nimble and diverse workforce that offers opportunities for you to build a long term career, then come and discover more about Nomura. This could be a perfect fit for you.

Since our founding we have accumulated an unparalled depth and breadth of experience throughout Asia and the rest of the world. We are a highly integrated global network of 27,000+ people in over 30 countries across our retail, asset management and wholesale (Global Markets and Investment Banking) divisions.

Help us realize our strategy and ambition by joining us in one of our three wholesale businesses:

  • Global Markets
  • Investment Banking
  • Corporate Infrastructure (i.e. Compliance, Finance, Operations, Risk and Technology)

Nomura in Europe, the Middle East and Africa (EMEA)

Our EMEA headquarters are at 1 Angel Lane in London with further offices in 18 countries across EMEA. We celebrated 50 years in London in 2014, a commitment to our people, clients and the region. Nomura employees come from all over the world and in London alone, over 70 different nationalities are represented.

Message from the Group CEO

Supporting Japan's Future

Our home market of Japan is on the verge of significant change. Since the new government came to power in 2012, we have seen early signs of an economic recovery. To build on this momentum, we need to look hard at what the country requires and how we can contribute.

Given that Japan is the world's largest creditor nation and has the world's fastest aging population, one area that requires attention is the creation of a new social framework. At the same time, we need to revise the structure of our financial system. For Japan to grow sustainably into the future, the capital markets will have to play a more prominent role. Indeed, Japan's approximately ¥1,500 trillion in personal financial assets holds the key to the country's future growth. Nomura aims to support this growth by facilitating the flow of funds throughout the economy.

Connecting Markets East & West

Asia is expected to account for half of the world's GDP by 2050 and will no doubt remain the growth engine of the global economy over the coming years. However, for the region to realize its full potential, Asian countries must finance the large-scale infrastructure projects required to underpin economic growth. Japan can play a leading role here, growing together with the rest of Asia by putting its financial assets to work across the region. With Asia as our home market, this is an area in which Nomura has a distinct competitive advantage.

As economies around the world mature and become increasingly global, companies and investors in the West are looking East for growth opportunities. As the only Japanese financial institution with a truly global network, Nomura is well placed to connect markets in the East and the West by leveraging our franchise to provide liquidity in the world's capital markets. By meeting the needs of our global client base and expanding our business, we can contribute to economic growth and social development.

In doing so, we aim to win the trust of our clients and society as we work towards being Asia's global investment bank.

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Nomura History

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Diversity and Inclusion

Diversity and Inclusion

We believe that the best solutions for our clients are driven by a team of individuals with different perspectives. That’s why we look to attract, develop and retain a diverse workforce across Nomura. There are 70 nationalities represented here – encouraging diversity of opinions and thought. Regardless of race, ethnicity, gender, sexual preference or disability, we aim to foster an inclusive culture where people can build their careers and be respected for the work they do.

Employee Networks

Through formal and informal events, participants are able to exchange ideas and receive support on both career and outside of work related topics. By supporting the development of employee networks and communities of interest, we are breaking down silos and strengthening relationships across the globe. One of the ways we encourage people to connect with others is through our employee networks:

  • Women in Nomura (WIN)
  • Lesbian, Gay, Bisexual, and Transgender (LGBT)
  • Employee Life and Families (ELF)
Women’s Development Programmes

In EMEA, Nomura launched a series of development programmes for women, aimed at different levels of seniority within the company.

Rather than a ‘one size fits all’ approach, Nomura has designed three separate programmes to address the challenges women may face at different stages of their careers and to develop the specific skills.

While each programme has its own objectives, all provide: access to senior leaders; opportunities to build networks and to develop tailored skills.

The Women’s Development Programmes:

  • Women’s Sponsorship Programme (MD & ED )
  • 30% Club Cross-Company Mentoring Programme (VP)
  • Female Associate Development Programme (Associate)
Partnerships and sponsorships

By working with number influential organisations, employees can take advantage of a number of industry events throughout the year. Our partners are:

  • Stonewall
  • The 30% Club Mentoring Scheme
  • City Women Network
  • Citymothers & Cityfathers
  • Women on Boards
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Our Business

Built to value ideas

Intellectual Capital in Action
Get a unique perspective from our international experts – Connecting Markets East & West.

Nomura provides investment banking services across Europe, the Middle East and Africa. We have a client-centric model and continue to make significant enhancements to our investment banking platform, global distribution, structuring expertise and product capabilities.

We continue to significantly increase our global footprint where we believe we have a competitive advantage and can best serve our clients, employees and shareholders. By putting our clients at the center of everything we do, we provide high value-added solutions and contribute to economic growth as Asia’s global investment bank.

Find out more about each of our wholesale businesses:

Annisa Lee
Head of Flow Credit Analysis, Asia ex-Japan

Kevin Gaynor
Head of International Research

George Goncalves
Head of US Rates Strategy

Selim Toker
Hedging Balance Sheet Risk

Nick Kenworthy
Head of Research Sales, UK

Richard Byworth
Head of Multi Strategy Sales, Asia ex-Japan

Investment Banking

Nomura provides investment banking services across Europe, the Middle East and Africa. We have a client-centric model and continue to make significant enhancements to our investment banking platform, global distribution, structuring expertise and product capabilities.

We continue to significantly increase our global footprint where we believe we have a competitive advantage and can best serve our clients, employees and shareholders. By putting our clients at the center of everything we do, we provide high value-added solutions and contribute to economic growth as Asia’s global investment bank.

Our Investment Banking Division provides a variety of advisory and capital-raising solutions to corporations, financial institutions, governments and public-sector organizations around the world. Our global teams act as geographic, industry and product specialists.

Geographies and Industry Coverage: Identify and analyse deal opportunities and manage client relationships across sectors (financial institutions, consumer, healthcare, communication & media, industrials, natural resources and power, financial sponsors) and key geographies teams. Sector and country coverage professionals are critical in identifying and analyzing deal opportunities and managing client relationships. The ideas generated can have a tremendous impact on a sector.

Product Groups: Provide tailor-made client solutions through one of our dedicated product teams: equity advisory; debt financing (acquisition and leverage finance; debt capital markets); and solutions businesses (equity solutions, risk solutions and insurance solutions). The group works closely with sector and country coverage teams as well as Global Markets to originate structure and execute deals across the globe.

We deliver Asia to our clients – accessing deep pools of liquidity and dynamic growth markets, with cross-border collaborations in M&A, DCM, and solutions businesses.

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Global Markets

Nomura's Global Markets Division handles client transactions for financial institutions, corporates, governments and investment funds around the world. We act as market makers, trading in fixed income and equity securities, including currencies, interest rates and credit in cash, derivatives and structured products. We have taken market-leading positions across the globe by leveraging the strength of our talent, client relationships and technology.

By developing strong relationships with our client base through consistent interaction, independent advice and pre-eminent access to Asia, we have built a powerful global franchise across interest rates, currency and credit products. Our client services cover both high-volume flow products and carefully tailored structured solutions. We have adapted to the changing financial landscape to build a client centric focus differentiated by innovation, electronic and service excellence and market-leading derivatives capabilities.

You could join us in one of these roles in Global Markets:

Sales: Develop and maintain strong relationships with Nomura’s clients, which include banks, pension funds, hedge funds, insurance companies and corporate clients. Sales colleagues are responsible for delivering the capabilities of Nomura in the form of services and products that best suit the clients’ needs.
Structuring: Design and develop innovative products and strategies. Structurers work together with sales, trading and research to analyse the risk exposure of Nomura’s clients, and deliver tailor-made solutions that address their needs.
Trading: Control and manage Nomura’s exposure to the markets by buying and selling securities and providing liquidity (market-making). Traders work together with sales, structuring and research in the development of trading strategies for our clients.
Research: Provide internal and external views and published research on sectors, companies and markets. Deliver insights, investment ideas and strategies for asset managers and internal clients that assume market risk.

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Corporate Infrastructure

Nomura’s Corporate Infrastructure Division is what underpins our success. It is internationally renowned and structured to deliver a world-class client service. We rely on our people in the Corporate Division to build and support the business, to deliver innovative financial solutions that set Nomura apart in the global marketplace. In our highly competitive and fast-paced industry, strong infrastructure teams are fundamental to our success and our ability to manage risk. Work with us in these areas and you’ll be operating at the forefront of your field as well as gaining a valuable insight into how Nomura operates on a global scale. You could join us in one of these business groups:

Compliance: Assist the firm and its employees in complying with all relevant regulatory obligations by providing advice, training and monitoring. This is essential to ensure that Nomura is safeguarded from financial and reputational consequences that can result from poor standards of practice.
Finance: Provide business advice and ensure fiscal control of the global franchise. The Finance team manages our funding and liquidity requirements and interacts with our creditors and rating agencies.
Operations: Responsible for the management and execution of transactions, maximizing profitability and minimizing risks. People in Operations work closely with sales, trading and technology teams and develop innovative and efficient approaches to our clients’ investment, liquidity and risk management needs.
Risk: Identify and analyse operational, credit and market risk, as well as shape risk appetite and risk decisions to give us the best possible standing in the global marketplace. Sound risk management is central to the successful execution of our business.
Technology: Work with and design state-of-the-art information technology and risk management systems to support an ever-expanding demand. These are the systems that can often give us that crucial, split-second edge over our competitors.

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Our People

Talented people drive our business forward

Nomura believes in harnessing the ambition of talented and intelligent people to drive our business forward. Our graduates' entrepreneurial spirits are helping us to realize our strategy to become Asia's global investment bank. Hear how Nomura impressed them, their experiences as interns and graduates and the evolution of their roles and responsibilities since joining.

Programmes

We’re looking to recruit individuals who are motivated

Our apprenticeships will see you working within one of our industry leading teams. In their first year you’ll spend time gaining a relevant NVQ qualification in partnership with one of our training providers. If successful you’ll then go on to study for further qualifications in your second year whilst having the opportunity to progress your career with us in a wide range of roles. Alongside this, you’ll have your own personal development plan to ensure you are ready for the challenges ahead. Throughout the scheme you will get lots of support and encouragement from the HR team, your line manager, buddy, mentor and the team around you.

We offer apprenticeships on an ad-hoc basis across Technology, Operations, Multimedia, Human Resources and Real Estate for periods of between 12-24 months. Available roles will be advertised on the Apply Now section.

Our Human Resources department provides comprehensive human resource manager services for the company. Its main functions include recruitment, payroll, learning and development, employee training and development programmes as well as a range of advisory services.

We currently offer HR apprentices in the following areas:

HR Advisor - The HR Advisory teams cover Nomura’s three core divisions: Global Markets, Investment Banking and Corporate Infrastructure. This role involves working in conjunction with HR Advisors to deliver solutions, advising managers on handling performance, absence, and other concerns, and supporting the Year-End Compensation process, amongst other projects.

CAO Apprentice - The role sits within Human Resource CAO (Chief Administrative Office) team and is a fantastic role for someone looking to begin a career within finance and general management. Although not a finance role per se, key stills would include being good with numbers and confident in dealing with senior managers withint the business.

HR Analyst Centre - The HR Analyst Team is responsible for managing the workflow of employee lifecycle activities between the strategic HR Advisor teams and the HR administrator team. The role requires interaction with HR colleagues and clients across the whole company and at all levels. The HR Analyst Team also supports the Graduate Recruitment and Programme Teams with the regular in-take of Graduates and Interns.

Learning and Development – This role sits within the EMEA Talent Team, directly supporting the Leadership & Development team. This role plays a critical part in ensuring that all Leadership & Development activities are executed to the highest standard. Key capabilities in this role are interpersonal skills, a drive for efficiency and effectiveness in execution, and a continuous improvement mind-set.

Graduate Recruitment – The Graduate Recruitment Team is responsible for attracting, recruiting and retaining the strongest candidates through strategic initiatives across European universities and business schools. This role would be involved at each stage of the recruitment process, from marketing and logistics for careers fairs, assisting with interview days and assessment centres, and supporting our summer internships and spring insight programmes.

The primary role of Multimedia is to provide in-house Audio Visual & Multimedia support with event management. This function is vital in enabling Nomura to communicate globally over video conference both internally and with clients. It also provides powerful internal communications support and the facilities are used extensively by Nomura’s clients to support their roadshows and results presentations.

The role will provide the candidate with a solid background in creating, operating and servicing Audio Visual technologies for the corporate environment in line with the InfoComm AV Certified Technologies Specialist (CTS) accreditation. The role will also expose the candidate to industry standard Video Conferencing solutions, with an overview of Broadcast Hardware and Film Editing Software.

Our Corporate Infrastructure Division is what underpins the success of the entire organization. These are the functions that support the business, helping us deliver innovative financial solutions that set Nomura apart in the global marketplace. In our highly competitive and fast-paced industry, strong infrastructure teams are fundamental to our success. Our Operations teams work closely with Sales, Trading and Technology teams and develop innovative and efficient approaches to our clients' investment, liquidity and risk management needs. You will also work with our training provider towards your Level 3 Investment Operations qualification.

As an Operations Apprentice you will be involved in:

  • Processing, controlling, confirming and settling transactions
  • Researching and troubleshooting problems such as resolving booking issues and cash breaks
  • Documenting process flows and creating procedure manuals for the functions performed
  • Reviewing current processes and procedures for improvements, reduce risks and increase controls
  • Assisting with client service initiatives
  • Building successful relationships with colleagues in Mumbai

The main activities of the Real Estate & Services department include property acquisition, disposal and space utilisation, general operations, administration, maintenance and repair, corporate travel and services, and health and safety.

Our current role is based within the Health, Safety & Environmental team, providing support and assistance in delivering environmental services across the Nomura EMEA region. As an apprentice in this team you will be involved in:

  • Assisting with maintaining the company environmental management system
  • Supporting with the coordination of best practice meetings and workshops
  • Monitoring environmental legislative changes and providing briefings and actions
  • Liaising with environmental staff at other company locations (eg Tokyo)
  • Assisting with the daily operations of the Real Estate & Services team

Our programme will provide you with opportunities to develop your skills and the knowledge you need to progress your career within one of our industry leading technology teams.

We offer roles within Development, Support and Infrastructure. Within the Development team, you’ll be working on cutting edge applications across a number of business lines. In Support you could be responsible for a number of systems that are critical to the running of the bank. If you prefer the Infrastructure side, you’ll be working on the infrastructure that supports all our major applications across the bank, from our web applications to staff email and messaging.

Recent Nomura Awards

What insight programmes do we offer?

Nomura offers three insight programmes. Our programmes are designed to help you explore the world of investment banking and experience the variety of career paths available. You will gain exposure across all our business functions allowing you to decide if a career in banking is right for you and identify where your skill set is best suited to within our business.

We will give you the opportunity to put your academic knowledge into practice through interactive case studies, workshops and desk shadowing. Nomura is passionate about developing talent from an early stage and our programmes act as the main pipeline for our summer internship programme and ultimately, our Graduate Training Programmes.

Nomura offers the following insight programmes:

  • First Step Sixth Form
  • Women’s Immersion
  • Explore Nomura
First Step Sixth Form
Women’s Immersion
Explore Nomura

Which insight programme am I eligible to apply to?

For further information on each programme, see the programme overview:

First Step Sixth FormOne Day - Unpaid
Programme Overview

- Increase your exposure of a corporate environment and learn the basics about our Investment Banking, Global Markets and Corporate Infrastructure divisions
- Gain real life experience in a fast paced, high energy environment
- Business presentations
- Interactive skills sessions
- Networking events
- Group project work
- Career advice and guidance

Training

- Case Study Exercises
- Networking and teamwork training
- Interview skills and CV workshops
- Presentation skills training

Assessment

- Group project presentations
- Opportunity to be considered for 2019 Women’s Immersion and/or Explore Nomura Programme

Women's ImmersionTwo Weeks - Paid
Programme Overview

- Two week paid internship in one of our three hiring divisions:

  • Investment Banking (IBD)
  • Global Markets (GM)
  • Corporate Infrastructure

- Case study exercises
- Graduate panel discussions
- Business overview presentations
- Technical and soft skills training
- Networking and social events
- Buddy support network

Training

Pre programme:

  • Online learning modules in Financial Markets, Accounting and Excel

Programme:

- Technical

  • On the desk and online training
  • Case study exercises

- Soft Skills

  • Interview skills and CV workshops
  • Presentation skills training
  • Emotional intelligence
Assessment

- Individual project presentation
- Opportunity to be fast tracked for 2019 summer internship programme interviews

Explore NomuraFour Days - Unpaid
Programme Overview

- Four day internship to gain an insight across our Investment Banking, Global Markets and Corporate Infrastructure divisions

- Desk shadowing in one of our three hiring divisions

  • Investment Banking (IBD)
  • Global Markets (GM)
  • Corporate Infrastructure

- Case study exercises, graduate panels and business overview presentations
- Mock interviews
- Networking events
- Group projects
- Buddy support network

Training

Programme:

- Technical

  • On the desk and online training
  • Case study exercises

- Soft Skills

  • Interview skills and CV workshops
  • Presentation skills training
Assessment

- Group presentations
- Opportunity to be fast tracked for 2019 summer internship programme interviews

Applications for our Insight Programmes open from 1st September 2017. We recruit on a rolling basis and therefore advise you to apply as soon as possible, and in advance of 14th January 2018 when applications will close.

Programme Eligibility Criteria Programme Timing
First Step Sixth Form You must be in your second year of sixth form A Levels (Year 13) TBD
Women's Immersion You must be on track to graduate in 2020 in the:
  • First year of a 3 year degree or
  • Second year of a 4 year degree
TBD
Explore Nomura TBD

We aim to provide interns with the same level of exposure as full-time Analysts. Interns are expected to form effective working relationships and demonstrate their commitment to Nomura’s goals and values. During the course of the internship, interns will benefit from working closely with a buddy and interacting with a mentor. We also ensure they gain exposure with Nomura professionals at all levels through training, seminars and informal networking events.

All Summer Analyst, Regional Analyst and Industrial Placement Programmes offer the opportunity to be considered for our Graduate Programmes.

Analyst entry level requirements: Bachelor or Master’s students. All students must be on track to achieve a 2:1 or equivalent.


The Global Markets internship programme in London take place each summer for Analyst interns.

The process: Your internship programme will consist of two or three placements across different functions of the Global Markets division. The teams you are placed in will depend on our organizational needs at the time but we will also take into account your preferences and skills you demonstrate at interview.

What’s involved?

As an intern, you will build relationships and take on challenges as a full member of the team, allowing you to develop a unique experience that will be vital in your future career. You will, gain valuable on-the-job training and see what makes us the most exciting proposition in the investment banking world. Roles could include:

Sales - Develop and maintain strong relationships with the firm's clients which include banks, pension funds, hedge funds, insurance companies and corporate clients. Sales colleagues are responsible for delivering the capabilities of the firm in the form of services and products that best suit the clients’ needs.

Trading - Control and manage the firm's exposure to the markets by buying and selling securities and providing liquidity (market-making). Traders work together with sales, structuring and research in the development of trading strategies for our clients.

Research - Provide internal and external views and published research on sectors, companies and markets. Deliver insights, investment ideas and strategies for asset managers and internal clients that assume market risk.

Structuring - Design and develop innovative products and strategies that are tailored to specific client needs. Structurers work together with sales, trading and research to analyze the risk exposure of the firm’s clients, and deliver tailor-made solutions that address their needs.

The process

The teams you are placed into during your rotational internship programme will depend on our organizational needs at the time but we will also take into account your preferences and skills you demonstrate at interview.

Feedback

You will receive constant feedback throughout your internship. At the start of the programme you will be assigned a mentor and a buddy. Both will review your performance and offer you any help and advice you might need.

You can find out more from our graduates and their experiences here.

The Investment Banking internship programme in London is open twice a year in January & June for a 6 month London & Paris rotational programme and in June for 10 week summer interns.

Our continental offices in Europe offer 3 to 6 month Analyst internships year round in Amsterdam, Frankfurt, Paris, Milan, Madrid.

Internships are designed as a spring-board to a career in investment banking. We will give you exposure to the challenges and opportunities a full-time Analyst will have in their first year with us.

What’s involved?

In addition to on-the-job experience, you will benefit from a series of training modules that will help you develop key professional skills. There will be a range of networking events with senior Nomura bankers and seminars to give you an in-depth knowledge of the division. This internship programme is the ideal opportunity for you to learn more about investment banking. The types of activities could include:

Deal execution - You will work closely with clients and execution teams (lawyers, accountants, consultants and bankers) on mandated transactions, including mergers and acquisitions, divestitures, capital raisings and restructurings.

Client relationship management - We want to see you generating and presenting ideas at client meetings alongside senior bankers.

Strategic analysis - We will train you to produce financial, structural and business risk analysis to support transactions and client presentations.

The process

You will be placed in one team during your internship (or if you are part of the 6 month rotational programme you will complete two 3 month rotations. Whichever team you are assigned to, you will benefit from a range of invaluable experiences that will give you a clear head-start on a career at Nomura.

Feedback

There will be constant feedback throughout your placement. At the start of your programme, you will be assigned a mentor and a buddy who will review your performance and offer you any help and advice you might need.

You can find out more from our graduates and their experiences here.

Our Compliance summer Analyst program is a 10 week program for students in their penultimate and final year. As a summer Analyst, you will be trained, placed in a business and encouraged to develop your skills. We will give you the opportunity to see how our Compliance division functions and the role it plays in our business as a whole.

You will take on responsibility from day one, building strong working relationships and facing challenges as a full member of the team. As you progress in your internship, you will have the opportunity to take on extra responsibility, which will help you gain knowledge and experience, which will be vital to your career.

What's involved?

Through this programme, you will gain in-depth knowledge of compliance whilst being exposed to a wide breadth of compliance disciplines, such as:

Regulatory Affairs, Risk Assessment and Employee Compliance - Spending time in this team within compliance would give the opportunity to get exposure and experience of a wide range of regulatory issues and priorities which impact the firm – not just in Compliance but across Finance, Risk Management and other areas of the business as well. The team also has a broad range and scope of responsibilities which include the areas set out below:

  • Coordination and management of Nomura’s relationship with regulators in the EMEA region – most notably the PRA and FCA. This is a very demanding and dynamic area of compliance responsibility as the firm needs to ensure that regulatory expectations are being met and that the firm is coordinated and organised in relation to regulatory relationships. These requirements and expectations are continually changing and evolving.
  • Employee compliance – management of the personal account dealing process, regulatory registrations, gifts and entertainment and outside business interests. These are some of the core processes which Compliance undertakes centrally.
  • Compliance Risk Assessment Team – team are responsible for undertaking compliance desk reviews and interaction with Operational Risk for compliance matters. An area of compliance which potentially gives broad exposure across different functions within the firm.
  • Conduct Risk – an area of significant regulatory focus and a considerable amount of work is ongoing to define conduct risk, provide training across the firm and collate key risk indicators in relation to conduct risks.
  • Compliance management information and reporting

Financial Crime - Spending time in this team within Compliance would give the opportunity to get exposure and experience of a wide range of financial crime and anti-money laundering issues which impact the whole firm. The team has primary responsibility for the firm’s systems and controls designed to protect and enhance the fight against financial crime which is essential to the integrity of the UK financial system. There will be scope for an individual on the Compliance Internship Programme to get involved in all of the activities conducted by the Financial Crime team thereby providing full lifecycle of a client relationship from a financial crime perspective.

  • Financial Crime surveillance including suspicious activity, negative new and sanctions monitoring
  • Conducting enhanced due diligence for the firm’s client which represent a high financial crime risk, for example Politically Exposed Persons or clients located in high risk jurisdictions
  • Exposure to multitude of client risk and regulatory issues either when on-boarding clients or during the client relationship from various risk jurisdictions.
  • Participation in the Politically Exposed Persons monitoring programme
  • Involvement in various systems and controls enhancement initiatives with firm-wide reach

Control Room - The EMEA Control Room team has responsibility for handling research clearance, maintaining the Firm’s Watch and Restricted Lists, conducting transactional conflicts checks, tracking Chinese wall crossings, significant position disclosures and other associated Control Room tasks including Personal Account Dealing clearance, Surveillance and Investigations. The EMEA Control Room is instrumental in developing the Firm’s policies and technology infrastructure in these areas in line with regulation and market practice and involves dealing with all areas of the business.

  • Implementing controls and conducting surveillance to ensure the effectiveness of the Firms information barriers to make sure that inside information cannot leak to the public side of the Firm.
  • Responsible for meeting the Firm’s Takeover Panel disclosure obligations, internal disclosure reporting and Significant Position Disclosure requirements throughout Europe and the Middle East

Our Finance summer Analyst programme is a 10 week programme for students in their penultimate and final year. As a summer Analyst, you will be trained, placed in a business and encouraged to develop your skills. We will give you the opportunity to see how our Finance division functions and the role it plays in our business as a whole.

You will take on responsibility from day one, building strong working relationships and facing challenges as a full member of the team. As you progress in your internship, you will have the opportunity to take on extra responsibility, which will help you gain knowledge and experience, which will be vital to your career.

What's involved?

Finance plays a pivotal role in our business and you will help our division provide expert and timely advice throughout all banking divisions. Depending on the team you join responsibilities could include:

Treasury - Understand key drivers for liquidity for Nomura entities, analyse the liquidity position of Nomura entities, manage the liquidity systems and data feeds that support stress testing for certain business / product lines, and provide commentary to Treasury management on changes in the liquidity profile of individual entities.

Product Control - Review daily trading activity to ensure correct accounting and P&L recognition treatment, perform independent price testing of trading portfolios using market data and internal models, conduct P&L discussions with trading desks at the end of each day, provide explanation of trading P&L and reporting to Product Control, and management of the consolidated weekly, monthly and quarterly commentaries.

Financial Resource Management - Understand the balance sheet and capital position of Nomura entities, analyse key issues around P&L, balance sheet and capital management, manage databases and modelling projections of financial resources into the future, and provide inputs into internal and external communication around key challenges and solutions for resource related issues.

Tax – Assist with the preparation of UK corporate tax returns to meet all UK group compliance obligations, assist with the EMEA quarterly tax provisioning / reporting process, become familiar with key concepts within Corporate and VAT tax law, and advise on operational tax matters including withholding tax obligations and various stamp duties. As well as a wide exposure to Nomura and on-the-job experience, you will receive structured training, a buddy and a mentor who will provide you with advice and guidance, as well as answer any questions you have regarding your career development.

You can find out more from our graduates and their experiences here.

Our Operations programmes include a 10 week summer internship for penultimate year students or a 12 month Industrial Placement. You will be trained, placed in a business and encouraged to develop your skills. We will give you the opportunity to see how our Operations division functions and the role it plays in our business as a whole.

You will take on responsibility from day one, building strong working relationships and facing challenges as a full member of the team. As you progress in your internship, you will have the opportunity to take on extra responsibility, which will help you gain knowledge and experience, which will be vital to your career.

What's involved:

As part of the Operations team, you will be responsible for the management and execution of transactions in a way that maximizes profitability and minimizes risks. The division's main responsibility is to process, control and settle all Nomura's transactions and as a result you will work closely with Sales, Trading and IT teams and develop innovative and efficient approaches to our clients’ investment, liquidity and risk management needs. Through this programme, you will gain in-depth knowledge of Operations whilst being exposed to a wide breadth of operations disciplines, such as:

Global Markets Business Services play a key role in controlling and supporting the full range of Global Markets activities. Work closely with Global Markets to support and facilitate business development and execution to build the client franchise. Key control function providing operational expertise across a broad scope of activities to manage associated risks and deliver positive business outcomes. Deliver product, process and industry expertise to wider Operations and Strategic Firm Wide Change initiatives.

Operations Change Management deliver transformational change for Operations to meet regulatory, control, business enablement and efficiency goals. Ensure a structured approach to delivery and transparency of decision making for projects and programmes. Elicit business requirements from users, regulators and industry participants and ensure that they are robustly tested and are fit-for-purpose in advance of go-live.

EMEA Shared Services covers a group of functions which provides operational services to support the activities of the Global Markets, IBD and Corporate functions. The EMEA group covers Settlements Oversight functions across all asset classes working closely with our Powai teams. New Issues are a global support team for the issuance of debt securities where Nomura International act as lead manager or dealer for a new debt security. Asset Servicing which involves processing corporate events working with the front office to ensure Nomura reflects its positions correctly. Tax Operations incorporates tax reporting and calculation. Reference Data Oversight is responsible for overseeing the day to day processing of all data in the Reference Data stores and associated downstream unlinked systems. Network Management function covers both the selection and performance of Nomura’s custody and settlement agent banks along with a high level of regulatory focus on due diligence

Regulatory Operations caries out the operational processes to meet our regulatory Client Assets responsibilities; oversight and management of Transaction Reporting under MiFID, EMIR and CFTC regulations; performance of due-diligence controls for new clients and on an ongoing basis to ensure clients pass Anti-Money Laundering and other control checks required by regulators and by the firm; and integration of new clients and new trading accounts into Nomura systems.

Operations Control includes the creation and maintenance of control standards; internal independent review of Key Risk Indicators; oversight of reconciliation processes; analysis of Operations risk events and trends; oversight of timely remediation of audit and regulatory issues; the review of new products and processes; and the oversight and management of independent internal quality assurance testing of processes.

You can find out more from our graduates and their experiences here.

Our Risk programmes include a 10 week summer internship for penultimate year studetns or a 12 month Industrial Placement. You will be trained, placed in a business and encouraged to develop your skills. We will give you the opportunity to see how our Risk division functions and the role it plays in our business as a whole.

You will take on responsibility from day one, building strong working relationships and facing challenges as a full member of the team. As you progress in your internship, you will have the opportunity to take on extra responsibility, which will help you gain knowledge and experience, which will be vital to your career.

What's involved?

Depending on the team you join, responsibilities could include:

Operational Risk Management: You will work across our business functions to ensure they are managing their operational risks effectively. Using tools such as event reporting, KRIs, Risk Control Self Assessments (RCSAs) and scenario analysis, you will assist in the various aspects of the Operational Risk lifecycle, i.e. identification, assessment, remediation and monitoring, of Operational Risks identified.

New Business Group: Working with the New Business Group Managers, you will engage with a variety of business units and corporate functions, in several aspects of the New Product and New Transaction review and approval process, to ensure all new products and transaction have gone through the appropriate due diligence and to help support strong corporate governance and risk management.

Credit Risk: Alongside our credit officers, you will analyze the credit quality of hedge funds, corporates and financial institutions before we take them on as clients. You will obtain an overview of rating analysis, trading limits, reporting and advice provided by the Credit Risk analysts in managing our counterparty exposure.

Market Risk: Focused on fixed-income you will evaluate our exposure in cash and derivatives, making sure all relevant data is recorded and used in daily risk calculations. You will work with the Market Risk Managers gaining insight in to trading limits and mandates, market risk reporting and how they work with the business to identify and analyze market risks and concentrations.

You can find out more from our graduates and their experiences here.

Our Technology programmes include a 10 week summer internship for penultimate year students or a 12 month Industrial Placement. You will be trained, placed in a business and encouraged to develop your skills. We will give you the opportunity to see how our Technology division functions and the role it plays in our business as a whole.

You will take on responsibility from day one, building strong working relationships and facing challenges as a full member of the team. As you progress in your internship, you will have the opportunity to take on extra responsibility, which will help you gain knowledge and experience, which will be vital to your career.

What's involved?

Technology at Nomura involves working with, and designing, state-of-the-art information technology and risk management systems. These are the systems that can often give us that crucial, split-second edge over our competitors. Work ranges from infrastructure support and deployment to in-house development of complex modelling software and applications.

This programme will give you the opportunity to develop new applications that keep us at the forefront of technology. You’ll develop an impressive level of technical knowledge, using a range of technologies (Java, C#, C++, SQL, Python, Perl, JavaScript, HTML/CSS and others) and frameworks (Spring, Maven, Camel, WPF, Node, React, and many others). Depending on your role, you’ll gain an understanding of different financial products, and build a valuable knowledge of risk management techniques and live trade analysis.

There is a wide breadth of roles available in technology. Your role will fit into one of the below:

Business Analysis – To help bridge the gap between the worlds of Technology and the business, Business Analysts are the intermediary through which each side can communicate effectively. Each modification we make to our in-house software requires complete understanding and agreement from both sides as to how things are to be changed, and as a Business Analyst you will facilitate this. You’ll be meeting regularly with business representatives to understand the problems that are currently occurring, and will be translating these problems into concrete requirements for the Development and Support teams. Analytical skills are a must for this role, as well as the ability to express an idea in more than one domain language.

Software Development – Bespoke software is at the heart of everything we do, and as a software developer you will help build out our ecosystem to help our clients and traders create and maintain a competitive advantage over other banks and organisations on the street. We write a large proportion of our software in-house and you could be involved with anything from generating real-time risk measures for our traders, to ensuring that payments to other companies are correctly collated, calculated and executed. As a software developer at Nomura, you will be designing, implementing and deploying solutions to meet rapidly changing business and regulatory needs. Strong coding skills and a logical outlook are a must.

Technical Support – To support the many systems that are written in house, our technical support teams are the first line of communication between our business users and Technology. As a member of one of our dedicated teams you’ll be doing anything from diagnosing and remediating issues in complex system flows to investigating previously unknown issues, all while in contact with traders or other business staff in a fast-paced environment. Excellent communication and technology knowledge are required to get the ‘big picture’ and disseminate information to find a solution to issues.

Bear in mind, that not all jobs fit into one of these categories, and can sometimes span two or all three!

Your role will be in the context of one of our IT divisions:

CTS – Corporate Technology Services is responsible for delivering and supporting business applications to Operations; Finance; Compliance; Investment Banking; and the rest of the Corporate divisions. CTS plays an essential role in servicing the Firm’s business needs and future direction by providing the appropriate solutions and capacity whilst also ensuring the ability of the Firm to report, monitor and supervise this business.

EIS – Enterprise Infrastructure Services is responsible for maintaining Nomura's Core Infrastructure IT Platforms and ensuring operational stability within the IT environment. This division underpins the rest of IT by providing and maintaining servers, networks, databases, datacenters and many other key pieces of infrastructure.

GMIT – Global Markets IT develops and maintains software solutions for the Global Markets division. Products include trading, pricing, analytics, research and sales systems.

Risk IT – Risk IT supports the Risk Management division by developing and maintaining software solutions. The focus is on sustaining appropriate risk appetite in accordance with regulatory requirements, by covering key areas of Market, Credit and Operational Risk.

You can find out more from our graduates and their experiences here.

Getting a full time role at Nomura is a great achievement and a unique platform to launch your career. As an organization, we are committed to creating long-term opportunities for top talent in this industry and as such invest significantly in your assimilation into Nomura, performance management and career mapping. An intensive training course and continuous on-the-job training and support are designed to accelerate your learning curve and the amount of responsibility you can assume at Nomura.

Once you have chosen the programme and region you would like to apply to, please complete our online application to launch the process. We recognize that many people are flexible in their thinking about geographic location, so please note that you can apply to more than one region. You will be contacted shortly about the next steps in the process.

Analyst: Apply to this programme if you are a recent Bachelors, Masters or Ph.D. student

Our training programme builds Nomura's pipeline of future leaders and functional experts through the successful integration and development of early tenured professionals. The global nature of our programmes is a key differentiator and our graduates begin their career with us in London with participants from EMEA, US and Asia offices. We will also provide you with ongoing learning and development opportunities throughout your career.

Our training programme covers various modules, which include:

  • An introduction to Nomura, its strategy, platform and businesses
  • Providing a comprehensive understanding of the Analyst role in their respective division
  • Equipping our Analysts with the finance/technical skills essential for their career
  • Promote networks for collaboration amongst global colleagues

When new Global Markets Analysts start at Nomura, they will join the Global Markets Global Training programme.

The Global Training programme is designed to provide our Analysts with the knowledge and the skills required to make an immediate contribution to their team. The global course is the first step in the graduates' assimilation into Nomura and the development of their career.

The 4 week curriculum combines a broad Global Markets overview, financial fundamentals and specific divisional and functional content. Participants are exposed to senior leadership through integrated business speakers, success panels and networking events. The programme also emphasizes Nomura's commitment to giving back to the community through an organized philanthropic activity. In 2015, the EMEA, US and AEJ classes came together in London and Tokyo to take part in the Global Training programme.

After Global training, the delivery of the Continuous Education Programme takes place via a broad means, including classroom sessions, senior speaker series, e-Learning, subject matter experts, mentoring programmes and team-building events.

The training programme is designed to provide a solid foundation in preparation for a smooth transition into investment banking at Nomura.

The programme comprehensively covers: accounting, corporate finance/valuation, financial modelling, fixed income and equity product analytics and banking group overviews. Complementing the classroom learning, Analysts complete assignments, deliver presentations on financial news and attend social events arranged to facilitate teamwork and peer interaction.

Our continuing education series comprises of sessions delivered by bankers on a variety of topics such as DCM, ECM, M&A process, LBO modelling. In addition, all Analysts have the opportunity to attend soft skills training, which focus on presentation, communication skills, personal impact, negotiation skills and relationship management skills.

Nomura's Corporate Infrastructure training programme comprises of online resources, classroom based technical and product training and a soft skills curriculum. Before our graduates join the firm, they are able to access our Global Learning site, an online learning library.

The two weeks of intensive training when graduates join offers a comprehensive introduction to banking in general, along with financial products and concepts. The training is delivered by external trainers and senior internal subject matter experts. During the initial training graduates will participate in classroom based seminars, trading simulations, business overviews and networking events.

Our continuous education series focuses on skills development, which includes presentation skills, presence and impact, assertiveness, project management, networking and MBTI effective communication and personality preferences, all delivered by an engaging and knowledgeable trainer.

Graduates joining the Corporate Infrastructure Finance programme will also have the opportunity to study for the CIMA or ACCA qualifications, while those in Operations will be able to study for the IOC. Graduates on the Technology and Risk programme benefit from a wide range of software, development and technical training.

Whatever division you join, you will benefit from ongoing performance feedback. At Nomura, our managers spend time focusing on your career development. They will dedicate considerable amounts of time to coach and mentor you, helping you to realize your full potential.

Nomura is proud of its people, and rewards employees for their contribution to the business. Benefits form an integral part of your reward package, alongside your salary and other elements of cash compensation. Our Nomura Select programme delivers a variety of benefits designed to offer value and relevance to our employees lifestyles and life choices.

The benefits on offer include:

  • Bonus scheme
  • Pension plan
  • Private medical insurance
  • Life assurance
  • Income protection
  • Maternity and paternity leave
  • Flexible working policy
  • Dental insurance
  • Season ticket loans
  • Employee discount programme
  • Gym membership at our onsite gym at Angel Lane or memberships at external gyms
  • Extra vacation days

Apply Now

One step closer to a successful career

Whether you are just entering the industry or an experienced professional looking for your next exciting opportunity, working at Nomura is a unique opportunity to make a difference in the industry in a way that is unprecedented. We have quite a number of roles for which we are currently accepting applications and we invite you to go through our list of global opportunities and send your CV to us.

We accept applications from all degree disciplines - although you will need a minimum 2.1 degree (or equivalent). While your degree subject doesn't matter, you must be numerate, have an interest in finance and a desire to work in the investment banking industry.

The structure of your recruitment process will vary depending on the division and region you have applied for. Our diagram below shows the process flow for our various programmes.

Please see Application FAQs and Interview Tips for advice on how to approach the various stages of our recruitment process.

Nomura runs a competency-based interview process:

  1. Culture & Conduct
  2. Client-centricity & Business Acumen
  3. Strategy & Innovation
  4. Leadership & Collaboration
  5. Communication & Connectivity
  6. Execution & Delivery

The deadlines for the programmes are listed below and we will be accepting applications from 1 September.

The dates below are final deadlines, but we do review applications on a rolling basis. We therefore advise that you apply as soon as possible.

Corporate Infrastructure (Compliance, Finance, Operations, Risk & Technology)

Full-time Analysts in Compliance, Finance, Operations Sunday, 12 November 2017
Summer Internship's in Compliance, Finance, Operations, Risk & Technology Sunday, 31 December 2017
Industrial Placement's in Operations, Risk & Technology Sunday, 31 December 2017


Global Markets

Summer Internship Sunday, 31 December 2017
Year-round Analyst 3 – 6 month Internship Programme Sunday, 31 December 2017


Investment Banking Division

Full-time Analysts Sunday, 12 November 2017
Summer Internship Sunday, 31 December 2017
Year-round IBD Internships in our European Offices (Amsterdam, Frankfurt, Paris, Madrid and Milan)
Fluency in the European language is a prerequisite
Rolling deadline


Spring Programmes

First Step Sixth Form programme Sunday, 14 January 2018
Women's Immersion programme Sunday, 14 January 2018
Explore Nomura programme Sunday, 14 January 2018
How should I apply?

To apply to any of our programmes, you will need to complete a short application form, including three motivational questions and attach a copy of your CV – there is no need for a cover letter.

The application form is your chance to make a strong first impression. Before completing it, make sure that you:

  • Research the business area that you feel best corresponds to your skill set and interests, and your motivation for applying to this area.
  • Tailor your answers to the motivational questions to Nomura. Be original!
  • Check your grammar and spelling carefully before you submit your application.
  • Have good examples of our core competencies, such as leadership, academic achievement, national and school-specific awards and work experience.
When should I apply?

Applications open from September 1. We recruit on a rolling basis so it’s advised that you apply as soon as possible. For specific deadlines, you can click here.

Can I apply to more than one division?

You can make up to two different applications per recruitment year. We would not recommend applications to different divisions; however should you wish to do so you should do as much research as possible beforehand. It's important to understand which business area would best match your skill set and interests. We will expect you to be able to discuss your choice, and show both enthusiasm for, and knowledge of the various roles. If you are unsuccessful in an application, you are unable to reapply to that vacancy during the same application year.

Will I be required to complete online testing?

Some candidates may be required to take an online test, depending on which programme they are applying to. Once you have submitted your application form, you will be invited to take the test in order to complete the application process. It is recommended that you take the test within 7 days of submitting your application form. If you experience any technical problems with the online tests, click here.

Will Nomura sponsor work authorization?

Yes, we will sponsor those students we offer, but the UK Home Office will ultimately make the final decision as to whether this will be granted.

There is no need to be nervous at interview - we want you to do well and to show us your potential and what you can do. Preparation is essential and well prepared candidates are more confident, provide more thorough and focused answers and are therefore more likely to be successful.

Use our step by step guide to ensure you take the time to prepare wisely; the key is to ensure your preparation is carefully planned and focused.

Focus - Structure and Plan your Preparation

Firstly, you should congratulate yourself in being selected for interview stage and have confidence in your ability. Secondly ask yourself the following questions:

  • What will the interviewers want to know?
    • An interview is not an opportunity to divulge everything you know- instead you need to focus on what is relevant to the company and the position you’re applying for
    • To identify what is most relevant, you will need to fully understand the role, it’s requirements and the key skills and competencies required
  • How are you going to sell yourself?
    • What is your unique selling point? I.e. what sets you apart from the competition?
    • How do you want the interviewers to remember you after the interview – what key points do you want them to recall?
  • How will you be assessed?
    • You can’t start your preparation until you know what you are preparing for
    • Read the interview format thoroughly to identify how you will be assessed (i.e. Interviews, case study exercises, and tests). If you’re unsure – ask.
  • What are the core competencies required for the role?
    • Your interview performance and ultimately if you are successful or not, will be dependent on how you perform against core competencies
    • Identify what are the key competencies required for the role and for the company
    • What examples do you have to demonstrate each competency? Have you considered examples outside academia (i.e. sports, music, drama, volunteering, charity, mentoring, societies or other extracurricular activities)
    • What achievements are you most proud of and why – which competency do they demonstrate?

Interview Questions

Interviewers will use a variety of questions to assess your ability against each competency. Ensure you are familiar with each type of question and how to structure your answers accordingly.

Types of interview questions may include:

  • Competency based questions
    • These require you to provide a real life example to explain how you behaved in a certain situation. Past behaviour is used as an indicator to assess potential future performance
    • Delivering a structured answer is crucial - research the STAR method to guide you
    • Top Tip: Ensure your examples are varied and recent (the more recent the past behaviour; the greater the indication of future ability)
  • Technical questions
    • Practice! There are many online resources or books available with practice questions
    • Questions may include basic accounting, valuation, brain teasers and mental arithmetic
    • Top tip: Brain teasers – the key is not the answer; it is the how you derive at the answer. The interviewer is assessing your ability to formulate a logical and methodical response
  • CV and application questions
    • Ensure you are able to discuss all aspects of your CV confidently and identify any obvious questions the interviewer may ask
  • Industry related questions
    • Interviewers will assess your interest, understanding and industry knowledge
    • Top tip: Form an opinion – digest the information you read and form your own judgment. Use facts and statistics to back up your conclusions

Research

There are a number of readily available resources to help you prepare. Make sure you fully utilise all resources available to you. These may include:

  • Online resources: Company website, press releases, annual reports, research publications, social media and online forums
  • School career services and recruitment events
  • Networks – academic staff, alumni, peers, family and friends – even if they do not have a financial services background, they can help you practice questions

Your Questions

An interview is a two way process. It is an opportunity for you to assess if the company, role and culture is right for you. You will be given time to ask questions at the end of the interview, so you should ensure you use this time wisely.

  • Plan questions to ask in advance - ensure they are relevant, well-thought-out and to the point
  • Show you’ve done your research and use the opportunity to demonstrate your interest

Plan the Interview Day

Preparing as much as possible in advance of your interview day will remove many of the inevitable nerves associated with the process.

  • Before the interview:
    • Dress professionally. Plan you outfit the day before and ensure you wear corporate attire
    • Be Punctual. Plan your route and account for delays in public transport
    • Aim to arrive 15 minutes before your interview start time. Contact us if problems arise and ensure you have noted the name and contact details of who to contact should this happen
    • Take a notebook, a pen (that works) and a calculator. Take a copy of your CV and application form
    • Remember: Be polite to everyone you meet, your interview begins as soon as you walk through the door of the building
  • During the Interview:
    • Ensure your mobile phone is turned off
    • Greet your interviewer(s) with a firm handshake. Remember their name(s)
    • Maintain eye contact with your interviewer(s) and be aware of your body language – smile, sit upright and don’t fidget.
    • Listen carefully to questions you are asked. If you are unclear about anything, ask for clarification
    • Be honest. Back up your answers with real examples. If you exaggerate or lie it will show up in pre-employment checks
    • Relax - whether you are successful or not, the interview is a valuable learning experience. Make sure you get something out of it.
    • Close the interview – thank your interviewer for their time. If you’ve enjoyed the experience and you look forward to hearing about the next steps – tell us
  • After your Interview:
    • Be responsive. Following the interview, go back to your recruiter and continue to build a relationship
    • If you are offered a position it is unprofessional to renege (to accept and then later decline). This could be the first impression you create in the industry - you never know what the future holds

Final round interviews (for Investment Banking and Global Markets) will involve a case study. Case study interviews are designed to show us your problem-solving skills and analytical thinking. We will also be looking at how you present yourself and how good your communication skills are under pressure.

Why use case studies?

We use case study interviews because they provide us with insights into your thought processes. Problem solving is often independent of any particular subject expertise you may have and we want to see how you would tackle any of a very wide range of potential case study questions. We are interested in your expertise in general business, your ability to apply your formal education and work experience in an analytical and creative way, and your raw intelligence.

What kind of questions should I expect?

Often a case study is business-related, but it could touch on anything - the question is not designed to test any previously acquired knowledge or experience. You will be asked to prepare an exercise from information given to you when you arrive at the interview. You will have between 45 and 60 minutes to read the data and compile your notes. You will then be asked to make recommendations. Remember, there are no right answers. You should consider all lines of argument and then present one as your chosen opinion, mentioning why you discarded the other possibilities.

How to do well

  • Practice extensively beforehand. Research case study examples on the internet and use them to build your experience.
  • Ensure that you are able to present your pitch concisely and articulately. You will have a very limited time to get the main points across before the interviewer starts asking you questions on your rationale.
  • Listen carefully to the question. If you like, repeat it back to your interviewer to make sure you have understood fully.
  • Don't jump into your answer immediately. Take a moment to collect your thoughts, and get ready.
  • Remember that we are not looking for a 'correct' answer. It is the route you have taken to reach your answer that is important to us.
  • Ask questions. Asking the right questions will be key to proving that you have the analytical skills we expect. The interview is meant to be interactive.
  • Construct a logical framework with which to explore the critical issues of the case.
  • Prioritize the issues and objectives. Don't get bogged down trying to deal with every aspect.
  • Don't be afraid to think outside the box. Creativity is seen as a major asset at Nomura.

Further reading

http://www.wikijob.co.uk/wiki/case-study
http://www.casequestions.com

Asset and Liability Management (ALM): the practice of managing risks that arise due to mismatches between assets and liabilities of the financial institution.

Bond: an instrument of indebtedness of the bond issuer to the holders. It is a debt security, under which the issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay them interest (the coupon) and/or to repay the principal at a later date, termed the maturity date

CAGR: “Compound Annual Growth Rate” – the year-over-year percentage growth rate of an investment over a specified period of time

Capex: Acronym meaning Capital Expenditures, that are funds used by a company to acquire or upgrade physical assets such as property, industrial buildings or equipment. This type of outlay is made by companies to maintain or increase the scope of their operations

D&A: Acronym meaning Depreciation and Amortization, a category of expenditure by which a company gradually records the loss in value of a tangible (Depreciation) and Intangible (Amortization) asset

Deleveraging: Reduction of the leverage ratio, or the percentage of debt in the balance sheet of a single economic entity, such as a household or a firm.

Discount rate: The interest rate used in discounted cash flow analysis to determine the present value of future cash flows. The discount rate takes into account the time value of money (the idea that money available now is worth more than the same amount of money available in the future because it could be earning interest) and the risk or uncertainty of the anticipated future cash flows (which might be less than expected).

EBITDA: Acronym meaning Earnings Before Interest, Taxes, Depreciation and Amortization

EBIT: Acronym meaning Earnings Before Interest and Taxes

ETF: Exchange traded funds. An exchange traded fund is an investment fund traded on stock exchanges, just like stocks. An ETF holds assets such as stocks, commodities or bonds, and trades close to its net asset value over the course of the trading day.

EV: “Enterprise Value” – Equal to Equity Value plus Net Debt (or minus Net Cash)

FCF: “Free Cash Flow” – Measure of cash generation used in fundamental valuation of a business. Equal to EBIT x (1 - tax rate) + depreciation and amortisation - changes in working capital - capex

Forward interest rates: An interest rate that is specified now for a loan that will occur at a specified future date. As with current interest rates, forward interest rates include a term structure that shows the different forward rates offered to loans of different maturities.

Hedge: an investment made in order to reduce the risk of adverse price movements in a security, by taking an offsetting position in a related security, such as options or short sales.

LTM: Acronym meaning Last Twelve Months

IRR: Acronym meaning internal rate of return. The IRR corresponds to the rate of return on an investment. The IRR of a project is the discount rate that will give it a net present value of zero

Market Cap: Market capitalisation or market cap is a value of a corporation as determined by the market price of its common stock (shares). It is calculated by multiplying the number of outstanding shares by the current market price of the share

Market liquidity: an asset's ability to be sold without causing a significant movement in the price and with minimum loss of value.

Opex: Acronym meaning Operating Expenditures, a category of expenditure that a business incurs as a result of performing its normal business operations

Payout ratio: The amount of earnings paid out in dividends to shareholders

Shareholder loan: an instrument used to distribute cash to shareholders while minimising a company’s tax liability. Not typically included within net debt

Swap: highly liquid financial derivative instruments in which two parties agree to exchange interest rate cash flows, based on a specified notional amount from a fixed rate to a floating rate (or vice versa) or from one floating rate to another.

Swaption: An option granting its owner the right but not the obligation to enter into an underlying interest rate swap. A payer swaption gives the owner of the swaption the right to enter into a swap where they pay the fixed leg and receive the floating leg. A receiver swaption gives the owner of the swaption the right to enter into a swap in which they will receive the fixed leg, and pay the floating leg.

Ultimate forward rate (UFR): the theoretical forward interest rate to which forward rates converge.

Yield to maturity: Discount rate at which the sum of all future cash flows from the bond (coupons and principal) is equal to the price of the bond.

Q: Tell me about yourself

This is one of the most popular interview questions. It allows the interviewer to assess how you react in an unstructured situation and your answer provides an insight to what you think is most important.

Tip – focus on what will be of most interest to the interviewers. Ensure your answer is structured, brief and highlights your most important achievements.

Follow up questions may include:

  • Why did you choose your place of study?
  • What courses have you most / least enjoyed and why?
  • Talk me through your internship experiences
  • What are you interests and hobbies (outside academic)?
  • What are the most important things to you in a job?
Q: Why Banking?

We look for people who have a strong interest in investment banking. Interview Questions will determine how motivated you are and your rationale behind your decisions.

  • Why do you want to work in investment banking?
  • What do you think an Analyst does on a typical day?
  • Why are you interested in this division?
  • Where do you see yourself in five years? Ten years?
  • Explain the financial crisis
  • If I gave you a million dollars today, how would you invest your money?
  • Which business publications do you read and why?
Q: Why Nomura?

We want to employ graduates who are passionate about joining Nomura and representing our brand

  • Why do you want to work for Nomura?
  • What differentiates us from our competitors?
  • What is the share price of Nomura today?
  • What do you hope to get out of a job?
  • What other banks are you interviewing with?
Q: Skills

Your interviewer’s want to understand what sets you apart from the competition - sell yourself.

  • Why should we hire you?
  • What skills have you got that make you suited to the role?
  • What are your strengths/development areas?
  • What is your greatest achievement and why?
Competency Questions

Show us proof that you are the kind of graduate we are looking for. Give concrete examples from any aspect of your life that show where you have personally made a difference.

  • Tell me about a time when you were creative
  • Tell me about a time when you had to manage conflicting priorities
  • Tell me about when you have missed an important deadline
  • What has been your biggest failure, professional or personal - and what did you learn?
  • Describe an occasion when you have had difficulties working in a team
  • What is the biggest risk you have ever taken?
  • How would you deal with a difficult client that puts you under pressure?
  • If a client told you that they wanted to improve their portfolio performance in the next 12 months, what would you suggest as potential strategies
Tips from our Graduates
  • Understand how the bank operates, the different roles available and the characteristics and tasks that each role entails
  • Don’t regurgitate generic questions and answers; it is quite obvious to those who work in the industry when someone has spent time reading and understanding concepts and news
  • Be yourself! It is important that the interviewer can see your personality in order to stand out from the rest
  • Keep up to date with relevant news - understand the current drivers in the industry
  • Do the obvious – read the latest annual report and CEO’s letter. Gain an insight into the firms values and strategy
  • We look for people with strong analytical and interpersonal skills, plus a keen interest in markets and equities.
  • We want candidates with the energy and the maturity to step up to quite senior positions quickly – ensure you demonstrate your ability to do this
  • Use your Careers services – they have direct contact with the recruiters and can offer invaluable advice you cannot find online
  • Be proactive - speak to graduates at fairs and presentations to get the ‘inside information’
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