Model Governance Through Independent Validation and Annual Reapproval
First written in FY2017-Q1. 18 of 22 entries say "Restated". Latest entry: FY2026-H1.
0 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「These fair value measurement models are reviewed periodically to align them with market conditions, and the data used are adjusted to reflect the latest market environment and risks. The Valuation Model Validation Group within the Risk Management Division independently of revenue-generating divisions reviews valuation models and assesses their appropriateness and consistency.」
Nomura continues to conduct reviews by the independent Valuation Model Validation Group, data adjustments, and reassessments through comparisons with market prices, alternative models, and risk profiles. - FY2025-H1RestatedAnnual report
「These fair value measurement models are reviewed periodically to align them with market conditions, and the data used are adjusted to reflect the latest market environment and risks. The Valuation Model Validation Group within the Risk Management Division independently of revenue-generating divisions reviews valuation models and assesses their appropriateness and consistency.」
Nomura continues to conduct reviews by the independent Valuation Model Validation Group, data adjustments, and reassessments through comparisons with market prices, alternative models, and risk profiles. - FY2024-Q3RestatedAnnual report
「These fair value measurement models are reviewed periodically to align them with market conditions, and the data used are adjusted to reflect the latest market environment and risks. The Valuation Model Validation Group within the Risk Management Division independently of revenue-generating divisions reviews valuation models and assesses their appropriateness and consistency.」
Nomura continues to conduct reviews by the Valuation Model Validation Group, which is independent of revenue-generating divisions, adjust data, and make comparisons with market prices, alternative models, and risk profiles. - FY2024-Q1RestatedAnnual report
「The Valuation Model Validation Group within the Risk Management Division independently of revenue-generating divisions reviews valuation models and assesses their appropriateness and consistency.」
Nomura continues to conduct reviews of valuation models by the VMVG, which is independent of revenue-generating divisions, and reassessments through comparisons with market prices, alternative models, and risk profiles. - FY2023-Q3RestatedAnnual report
「The Valuation Model Validation Group within the Risk Management Division independently of revenue-generating divisions reviews valuation models and assesses their appropriateness and consistency.」
Nomura continues to conduct reviews of valuation models by the independent VMVG and periodic reassessments through comparisons with observable market prices, alternative models, and risk profiles. - FY2023-Q1RestatedAnnual report
「The Valuation Model Validation Group within the Risk Management Division independently of revenue-generating divisions reviews valuation models and assesses their appropriateness and consistency.」
Nomura continues to conduct reviews of valuation models by the independent VMVG, together with periodic reassessments through comparisons with observable market prices, alternative models, and risk profiles. - FY2022-Q3RestatedAnnual report
「New models and material changes to approved models must be validated by a team independent of the model development team before formal use. To continuously assess whether models remain appropriate, approved models undergo periodic validation and model performance monitoring.」
Nomura continues to conduct independent validation, periodic validation, and model performance monitoring. - FY2022-Q2RestatedAnnual report
「New models and material changes to approved models must be validated by a team independent of the model development team before formal use. To assess whether models are appropriate, approved models undergo periodic validation and model performance monitoring.」
Nomura continues to conduct independent validation, periodic validation, and model performance monitoring. - FY2022-Q1SoftenedAnnual report
「New models and material changes to approved models must be validated by a team independent of the model development team before formal use. To assess whether models are appropriate, approved models undergo periodic validation and model performance monitoring.」
Independent validation and model performance monitoring continue, but the reference to “annual reapproval” explicitly included through the previous disclosure has been changed in this disclosure to “periodic validation procedures.” - FY2021-Q3RestatedAnnual report
「New models and material changes to approved models must be validated by a team independent of the model development team before formal use. To assess whether models remain appropriate, approved models undergo annual reapproval and model performance monitoring.」
Nomura continues to conduct independent validation, annual reapproval, and model performance monitoring. - FY2021-Q2RestatedAnnual report
「New models and material changes to approved models must be validated by a team independent of the model development team before formal use. To assess whether models remain appropriate, approved models undergo annual reapproval and model performance monitoring.」
Nomura continues to conduct independent validation, annual reapproval, and model performance monitoring. - FY2021-Q1RestatedAnnual report
「New models and material changes to approved models must be validated by a team independent of the model development team before formal use. To assess whether models remain appropriate, approved models undergo annual reapproval and model performance monitoring.」
Nomura continues to conduct independent validation, annual reapproval, and model performance monitoring. - FY2020-Q2RestatedAnnual report
「All approved models must undergo periodic reapproval based on their usage, complexity, and the materiality of model changes, to ensure their continued appropriateness. Through ongoing model performance monitoring, Nomura identifies situations in which models have lost, or may potentially lose, the functionality for which they were designed and can implement priority remediation measures, including additional validation.」
Nomura continues to conduct periodic reapproval based on usage, complexity, and the materiality of changes, as well as model performance monitoring. - FY2020-Q1ReframedAnnual report
「All approved models must undergo periodic reapproval based on their usage, complexity, and the materiality of model changes, to ensure their continued appropriateness. Through ongoing model performance monitoring, Nomura identifies situations in which models have lost, or may potentially lose, the functionality for which they were designed and can implement priority remediation measures, including additional validation.」
The criteria for model reapproval are described as a periodic process based on usage, complexity, and the materiality of changes, and model performance monitoring also continues. - FY2019-Q3RestatedAnnual report
「Before a model is formally put into use, the model validation group is responsible for independently validating the model’s soundness and comprehensiveness, separately from its developers. All models must also undergo an annual reapproval process by the model validation group to ensure their continued appropriateness. In addition, through newly introduced model performance monitoring procedures, Nomura identifies situations in which models have lost, or may potentially lose, the functionality for which they were designed and takes necessary measures, including additional validation where appropriate.」
Nomura continues to conduct independent validation, annual reapproval, model performance monitoring, and approval of material model changes. - FY2019-Q1RestatedAnnual report
「Before a model is formally put into use, the model validation group is responsible for independently validating the model’s soundness and comprehensiveness, separately from its developers. All models must also undergo an annual reapproval process by the model validation group to ensure their continued appropriateness. In addition, through newly introduced model performance monitoring procedures, Nomura identifies situations in which models have lost, or may potentially lose, the functionality for which they were designed and takes necessary measures, including additional validation where appropriate.」
Nomura continues to conduct independent validation, annual reapproval, model performance monitoring, and approval of material model changes. - FY2018-Q3RestatedAnnual report
「Before a model is formally put into use, the model validation group is responsible for independently validating the model’s soundness and comprehensiveness, separately from its developers. All models must also undergo an annual reapproval process by the model validation group to ensure their continued appropriateness. In addition, through newly introduced model performance monitoring procedures, Nomura identifies situations in which models have lost, or may potentially lose, the functionality for which they were designed and takes necessary measures, including additional validation where appropriate.」
Nomura continues to conduct independent validation, annual reapproval, model performance monitoring, and approval of material model changes. - FY2018-Q2RestatedAnnual report
「Before a model is formally put into use, the model validation group is responsible for independently validating the model’s soundness and comprehensiveness, separately from its developers. All models must also undergo an annual reapproval process by the model validation group to ensure their continued appropriateness. In addition, through newly introduced model performance monitoring procedures, Nomura identifies situations in which models have lost, or may potentially lose, the functionality for which they were designed and takes necessary measures, including additional validation where appropriate.」
Nomura continues to conduct independent validation, annual reapproval, model performance monitoring, and approval of material model changes. - FY2018-Q1RestatedAnnual report
「Before a model is formally put into use, the model validation group is responsible for independently validating the model’s soundness and comprehensiveness, separately from its developers. All models must also undergo an annual reapproval process by the model validation group to ensure their continued appropriateness. In addition, through newly introduced model performance monitoring procedures, Nomura identifies situations in which models have lost, or may potentially lose, the functionality for which they were designed and takes necessary measures, including additional validation where appropriate.」
Nomura continues to conduct independent validation and annual reapproval, as well as the newly introduced model performance monitoring. - FY2017-Q3AdvancedAnnual report
「In addition, through newly introduced model performance monitoring procedures, Nomura identifies situations in which models have lost, or may potentially lose, the functionality for which they were designed and takes necessary measures, including additional validation where appropriate.」
In addition to the existing independent validation and annual reapproval, Nomura has introduced model performance monitoring procedures. - FY2017-Q2RestatedAnnual report
「Before a model is formally put into use, the model validation group is responsible for independently validating the model’s soundness and comprehensiveness, separately from its developers. All models must also undergo an annual reapproval process by the model validation group to ensure their continued appropriateness.」
Independent validation, approval of changes, and reapproval at least annually remain in place. - FY2017-Q1First statedAnnual report
「Before a model is formally put into use, the model validation group is responsible for independently validating the model’s soundness and comprehensiveness, separately from its developers. All models must also undergo an annual reapproval process by the model validation group to ensure their continued appropriateness.」
Independent model validation, approval of changes, and annual reapproval are described as measures for addressing model risk.