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Head of Risk & Governance at Nomura in GB
Job Description
Job Title: Head of Risk & Governance - VP
Department: IGSL Office of the EMEA COO
Reports To: EMEA Head of Operations & Resilience
Number of Direct Reports 0
ABOUT INSTINET
As the agency-model execution services arm of the Nomura Group, Instinet Incorporated subsidiaries provide brokerage services to clients in over 65 markets around the world. Through its advanced suite of electronic trading strategies, experienced high-touch trading group, top-ranked Commission Management services, award-winning desktop trading platform, and unparalleled access to insightful analytics, content and unique liquidity, Instinet helps institutions lower overall trading costs and ultimately improve investment performance. In the US, Instinet also offers a boutique-model Equity Research offering to assist their clients in the pursuit of alpha generation in a changing landscape. Over the course of its 50+ year history, Instinet has introduced a range of now industry-standard trading technologies and has been an innovator at the forefront of the market's evolution. For more information, please visit www.instinet.com.
PURPOSE AND SUMMARY
The IGSL Office of the EMEA COO is headed by the EMEA COO, who holds the SMF-24 regulatory responsibilities for IEL and sits within the Front Office at Instinet.
The Head of Risk & Governance sits within the EMEA COO Office and reports to the Head of Operations & Resilience.
The Head of Risk & Governance is a team-wide, cross-cutting role within the EMEA COO Office, responsible for owning the risk management process, consistency and consolidated reporting across all areas for which the COO is responsible, including Technology, Information Security, Operational Resilience, AI, and Operations (as it joins).
This includes running the RCSA process and administration, performing root cause analysis on risk events, coordinating MI gathering and governance pack production, and supporting the SMF-24 accountability framework on behalf of the COO.
The Head of Risk & Governance supports the relevant functional lead in the team by providing the consolidated, front-to-back process and reporting layer across these domains, working closely with the functional leads as a cross-trained team providing mutual back-up, and escalates emerging or cross-cutting risk themes to the COO, but does not substitute for functional leads' domain-specific risk ownership.
The role provides front-to-back oversight across all functional areas in the team. It ensures risks, controls, audit findings and service provision are consistently managed and consolidated, and it provides the COO and senior stakeholders with a clear, joined-up view. The role works alongside the functional leads, who retain day-to-day delivery in their areas and provides supplementary and back-up support where required.
The role carries substantive accountability for Instinet's operational resilience and technology risk governance frameworks, operating within a heavily outsourced model in which technology and corporate services are delivered by Nomura Group entities.
ESSENTIAL DUTIES AND RESPONSIBILITIES
The Head of Risk & Governance will work within the EMEA COO Office. Individual responsibilities will include:
Risk and Control Framework
- Own and administer the RCSA process across all areas within the COO's remit, ensuring that risks are identified, controls are assessed for effectiveness, gaps are remediated, and the overall risk profile is accurately reported to relevant governance committees. This includes management of all necessary risk acceptances and review and validation of the scope and outputs of control testing
- Conduct periodic reviews of ICARA process and associated scenario definitions, ensuring that risk ratings, control assessments, and residual risk positions are current, approved, and appropriately evidenced.
- Maintain and develop the SMF-24 accountability framework, ensuring that all regulatory requirements — including handover documentation and periodic review obligations — are met on a timely basis.
- Ensure compliance with applicable regulatory requirements and internal policies across the COO Office's areas of accountability. Coordinate with all Nomura service providers to obtain and validate required evidence and remediation plans.
Governance and Committee Support
- Front to back ownership of the preparation of materials for all governance fora within the remit of the EMEA COO.
- Co-chairing the Technology Service Delivery Forum (TSDF) and acting as secretary, producing high-quality minutes and tracking actions between meetings.
- Prepare high-quality materials for board-level and ExCo governance committees, including the Risk and Capital Committee, ensuring that reporting is accurate, concise, and actionable.
- Deputise for the Head of Operations & Resilience at governance meetings as required.
- Coordinate and continuously enhance key governance fora supporting the COO Office and provide summarised reporting into senior and Board-level committees on behalf of the COO, reflecting the role's broad, team-wide remit across Operational Resilience, AI, and Operations (as it joins).
Audit Engagement and Remediation
- Act as the primary point of accountability for Internal Audit engagement within the COO Office's remit, coordinating the provision of evidence, managing audit point remediation, and ensuring that agreed actions are tracked, completed, and closed on a timely basis.
- Provide active monitoring and reporting of audit actions across all areas within scope, maintaining a clear and current view of the firm's open audit findings and remediation status through to closure. Provide regular reporting to the Head of Operations & Resilience and relevant governance committees.
- Liaise with Nomura GES Technology and other Group functions to coordinate audit remediation where the underlying control or evidence sits within the Group's delivery perimeter, retaining clear Instinet-side accountability.
COO Office — Operational Excellence and Strategic Support
- Support the EMEA COO and Head of Operations & Resilience in the delivery of operational excellence initiatives, including the development and refinement of KPIs and KRIs for technology and operations service delivery.
- Prepare executive briefings, board reports, and management information to a high standard, ensuring that complex technical and regulatory matters are communicated clearly and appropriately for the intended audience.
- Contribute to the development and maintenance of policies and procedures within the COO Office's remit, ensuring that documentation is current, accurate, and aligned to regulatory requirements.
- Identify and escalate continuous improvement opportunities across the firm's risk and control environment, operational processes, and governance arrangements, supporting the Head of Operations & Resilience and COO in driving operational effectiveness.
- Support the functional leads within the team as required with outsourcing and intra-group service governance, operational resilience framework maintenance, AI and Controls governance, and business continuity/crisis management coordination, providing back-up capacity and consolidated reporting across these areas as needed.
SKILLS & EXPERIENCES ASSESSMENT
- Excellent team player with the ability to use own initiative and provide prompt and practical service to stakeholders
- Knowledge of electronic and broker trading processes from execution through to order and applicable regulations
- Understanding of risk management frameworks (RCSA, ICARA) and their practical application within a first-line or COO office context, and prior audit experience
- Familiarity with DORA, including ICT risk management obligations, third-party risk requirements, UK Operational Resilience, and incident reporting sufficient to coordinate effectively with Group functions and maintain Instinet's compliance posture
- Experience of chairing or materially contributing to senior governance committees, with the ability to manage meeting dynamics, drive decision-making, and ensure accountability for actions.
- Strong stakeholder management and influencing skills with the ability to work across multiple functions and balance competing priorities
- Ability to provide structured oversight and challenge of Group or third-party service providers without direct line authority over those functions.
- Excellent written communication skills, with the ability to produce board-quality reports, management information, and executive briefings that are clear, concise, and appropriately calibrated for the audience.
- Strong verbal communication and influencing skills, with the confidence to engage credibly with senior internal stakeholders and Group functions.
- Ability to translate complex regulatory and technical matters into clear, actionable language for non-specialist audiences.
- Strong analytical capability across multiple workstreams.
- Ability to operate with a degree of autonomy and to exercise sound judgement, while maintaining appropriate escalation to the Head of Operations & Resilience.
- Strong collaborative instincts, with a track record of building effective working relationships across organisational boundaries, including with Group and parent company functions.
EQUAL OPPORTUNITIES
We are an equal opportunities employer and welcome applications from all suitably qualified persons regardless of their race, sex, disability, religion/belief, sexual orientation or age.
RIGHT TO WORK
The UK Government have taken steps to reduce net migration to the UK by limiting the number of overseas workers from outside the EEA coming to the UK for employment. Please note that whilst we are able to consider applications from overseas workers from outside the EEA (who require a Tier 2 (General) visa) we can only employ them if we can provide evidence that there are no other suitable candidates for this vacancy from inside the EEA.
CULTURE & CONDUCT
Instinet is committed to conducting its business with honesty and integrity and expects its staff to maintain high standards, act within the law, applicable codes of practice, and to apply the highest possible operating/business ethics in all areas of its activities. As part of the Nomura Group, Instinet staff are required to comply with the Nomura Code of Conduct (“the Code”). The Code explains the Nomura Group’s Corporate Philosophy, it embodies our mission to contribute to society through our expertise in the services we provide to our clients and our vision to become a trusted partner. The Code sets out guidelines for Instinet staff to translate the Nomura Group Corporate Philosophy into actions.
Instinet reflects on our actions to ensure that they are in line with the Code. We promise clients and other stakeholders that we will uphold the highest standards of ethics and integrity under the Code and we carry out all of our business activities based on the Code. The three main areas of the Code are:
| 1. Conduct for Clients
| 2. Conduct for Our People
| 3. Conduct for Society
|
Working for Instinet means that you have a big part to play in supporting the culture and conduct for Instinet’s business, with support from your line manager and the senior management team. You are responsible for ensuring that you are fully aware of and adhere to internal policies that relate to you, your business or other businesses for which you have any level of responsibility. In addition:
- You are responsible for managing, controlling, and escalating risks to management within the scope of your position;
- You are required to act with integrity and apply due skill, care and diligence in carrying out your duties. Your actions should always be able to satisfy high standards of consideration integrity;
- You must observe proper standards of market conduct. Responsibility to ensure that you take reasonable steps to be fully aware of, understand and comply with all regulatory requirements from all regulatory bodies that are applicable to your business;
- You are required to understand and comply with Instinet’s operational policies and procedures as they apply to your role and responsibilities and ensure that Instinet always pays due regard to its customer’s interest and treats them fairly; and,
- You are required to endorse and grow Instinet’s Compliance and Risk culture in order to manage and mitigate Conduct Risk. Conduct Risk for Instinet means inappropriate behaviour which may damage Instinet, its clients, its staff or the trust and integrity of markets, or which delivers unfair outcomes for its clients and staff through direct/indirect contact/action, or omission. Conduct Risk includes the managing of conflicts of interest.