Job Title: Commercial Real Estate Valuation Specialist
Corporate Title: Associate
Department: Finance
Location: New York, NY or Jacksonville, FL
The pay range for this position at commencement of employment is expected to be between $115K and $150K/year if hired in New York, and between $95K and $115K/year if hired in Jacksonville (see below footnote for additional compensation and benefits information).
Company overview
Nomura is a financial services group with an integrated global network. By connecting markets East & West, we service the needs of individuals, institutions, corporates and governments through our four business divisions: Wealth Management, Investment Management, Wholesale (Global Markets and Investment Banking) and Banking.
Driven by the insights of some 28,000 people worldwide, we put our clients at the center of everything we do, delivering unparalleled access to, from and within Asia. For further information about Nomura, visit www.nomura.com
Aon's Benefit Index, Nomura's benefits rank #1 amongst our competitors
Department Overview:
Nomuras Finance department manages the companys financial operations and provides financial guidance to support business decision-making. The team collaborates with senior leadership, business units, and stakeholders to develop effective financial strategies, providing guidance on financial planning, budgeting, forecasting, and analysis to align financial operations with business objectives. Nomuras Finance team specializes in financial reporting, accounting, tax, treasury, and capital management, known for providing exceptional service to clients. With a strong track record and commitment to innovation and global reach, Nomuras Finance department is well-positioned to continue driving growth and success in the financial industry.
The Independent Portfolio Valuations (IPV) / Valuation Control Group within the Finance department is primarily responsible for ensuring the appropriate mark-to-market of trading positions on the firms books and records. The group sets independent pricing and valuation adjustment policies, executes and generates results, then communicates the results with various stakeholders to remediate and prevent issues on an ongoing basis. The team interacts closely with other parts of the firm including Trading, Risk Management, Model Validation, Product Control, and Finance. The position will be a highly visible role, assisting in the fair value determination of less liquid instruments across private credit, commercial real estate, and infrastructure. This role offers significant growth and development opportunities under senior team guidance.
Role Description:
- Seeking to fill in a Commercial Real Estate (CRE) Valuation Specialist in the Independent Product Valuation Group (IPV).
- This associate will work closely with senior team members, focusing on building expertise in commercial real estate and private credit valuations while contributing to the teams analytical capabilities
- Independently verify Front Office prices for Commercial Real Estate loans (conduit loans, SASB, loans for syndication) as well as the valuation of private investments
- Develop and maintain valuation methodologies for CRE and private investments
- Review and challenge front-office marks using independent data sources, market comparables, and valuation models; validate pricing methodologies and assumptions for illiquid positions
- Analyze P&L attribution and explain valuation-driven P&L movements; monitor market trends, transaction activity, and CRE fundamentals across property sectors
- Review valuations produced by third party providers using Discounted Cash Flow (DCF) analysis, Valuation Multiple based analysis, comparable company analysis, direct capitalization, sales comparison, cost approach, and asset-based approaches
- Assess financial models, monitor company-specific and property-specific performance indicators, and track news events for the asset classes
- Collaborate with internal and external audit, external valuation firms, senior management, trading, risk, finance, product control, model validation and due diligence
- Prepare monthly, quarterly and ad hoc valuation reports and summary presentations for senior management; conduct monthly valuation meetings
- Support month-end, quarter-end, and year-end close processes; participate in internal and external audit reviews
Key Contribution Areas Critical to Success
- Hands-on expertise with CRE and private credit valuations, utilizing techniques such as DCF, market multiples, direct capitalization, sales comparison, and cost approaches to independent value positions and validating external valuations
- Self-motivated with a transformational and creative mind-set, with a focus on challenging the status quo regarding both the way IPV analyses the positions and how the results are presented
- Ability and willingness to work closely in a team environment
- Attention to detail; ability to deliver high-quality work under time constraints
- Ownership mentality with ability to resolve issues independently
Skills, experience, qualifications and knowledge required:
- 3-5 years of experience in commercial real estate, structured products and/or private investments valuation. Investment banking, product control, or middle office with exposure to valuation work; specific to CRE and/or private credit experience is highly preferred
- Bachelor's degree in finance, Economics, Accounting, or quantitative field; CFA Charterholder or progress toward the CFA charter is a plus
- Strong analytical skills, attention to detail and effective communication are vital to this role
- Experience from valuation services firms, Big-4, investment banking, credit analysis, or asset management with demonstrated understanding of fair value concepts for illiquid instruments
- Experience leveraging AI to analyze deal documentation and company/property-specific performance data is preferred
- Familiarity with industry data sources, and the ability to review deal documentation, including Credit Agreements
- Strong financial modeling and advanced Excel skills (VBA is a plus)
- Knowledge of Programming (Python, SQL), Alteryx, PowerBI and/or other data science, analytics, business intelligence solutions platforms is also a plus
Nomura Leadership Behaviors
- Explore Insights & Vision: Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.
- Making Strategic Decisions: Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.
- Inspire Entrepreneurship in People: Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.
- Elevate Organizational Capability: Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.
- Inclusion: Foster a culture of inclusion and psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).
- base pay offered may vary depending on multiple individualized factors, including market location, corporate and functional title and duties, job-related knowledge and advanced degrees, skills, and experience. The total compensation package for this position may also include other elements, including a sign-on bonus, restricted stock units, and discretionary awards in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.
If hired in the U.S., employee will be in an "at-will position" and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors".
US FINANCE ONLY Applicants f or this position in the Finance Division of NHA must be currently
authorized to work f or any employer in the United States. The Finance Division is not sponsoring or taking
over sponsorship of employment visas f or this posit ion at this time
Nomura is an Equal Opportunity Employer