Risk Management Summer Analyst Program

Job description 2026 Risk Management Summer Analyst Program Company Overview

Nomura is a global financial services group with an integrated network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions:
Retail, Wholesale (Global Markets and Investment Banking), and Investment Management. Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit

The Americas Risk Management Division provides independent oversight of the financial and non‑financial risks of the firm, inclusive of but not limited to credit risk, market risk and operational risk. This function is crucial to the successful performance of the firm, helping us deliver innovative financial solutions that set Nomura apart in the global marketplace. Risk Management works closely with all areas of the firm including Global Markets, Investment Banking, Finance, Legal, Compliance and Operations.

The Summer Analyst Program runs for 10 weeks, during which Analysts will enjoy extensive contact with Nomura professionals at all levels through discussion groups, seminars and informal social functions. This program is an integral component of our full time recruiting. Please note this not a rotational program.

We aim to provide Summer Analysts with the same level of exposure as a first‑year Analyst, with a hands‑on opportunity to participate as full members of the team. They are expected to form effective working relationships and to demonstrate a commitment to the firm’s goals and values. During the course of the internship, Summer Analysts benefit from working closely with a peer and interacting regularly with a senior mentor.

• Credit Risk: assist Credit Officers in analyzing credit quality of various counter party types including funds (hedge funds, private equity and mutual funds), financial institutions (banks, broker dealers, mortgage originators, insurance companies and REITs) and/or corporations. Evaluate proposed transactions for suitable credit quality. Conduct industry research to identify trends. Help develop ad‑hoc reports based on business needs.
• Market Risk: broad involvement in risk management of traded positions, with exposure to cash and derivatives products across fixed income and equities. You will be embedded within the Market Risk team and will work closely amongst market risk managers to understand the behavior of financial products and the market risk metrics used to manage trading activity.
• Operational Risk: support all business areas in the identification of non‑financial risks and the facilitation of processes and/or control improvements to aid in non‑financial risk mitigation. You will help the team with deep‑dive analysis and data analytics to potentially identified processes or controls that require targeted risk assessments.
• Risk Methodology Group (RMG): This team develops a robust risk modelling framework to quantify the potential downside or losses that the firm can incur both at the trade and portfolio level. These models are used in regulatory or economic capital calculations, limit monitoring, trade approval or management reporting. The Market Risk Analytics (MRA) is part of the Global Risk Methodologies Group (RMG), and is responsible to lead research, review, development, testing and enhancement of all components of the VaR model consistent with internal requests and regulatory requirements.
  
  The team works extensively on the development of the new regulatory capital model required for future regulation (FRTB).
• Model Validation Group (MVG): provides independent review of the firm’s models. This team ensures compliance with various policies and regulations, evaluate conceptual soundness, challenge model parameters and assumptions as well as develop benchmark models. You will be working on the validation of Risk Models which are used to calculate regulatory capital…