Nomura · Data Scientist
Updated · 2026-09-24

Nomura Data Scientist
Interview Questions & Guide 2026

THE 60-SECOND BRIEF

A Data Scientist at Nomura operates at the intersection of quantitative finance, advanced analytics, and strategic decision-making. You will be responsible for building predictive models, optimizing trading strategies, and providing data-driven insights that influence the firm's global market operations. Whether you are working with interest rate quant teams or broader market research groups, your work directly impacts the efficiency and profitability of one of the world's leading financial institutions.

SQL is seldom the hardest round and is often the one that eliminates people. The working bar is usually window functions, correct deduplication, and joins that do not silently fan out rows, rather than obscure syntax.

Nomura candidates report 3 rounds · ≈ 3-5 weeks. The stages below are what candidates describe, not a published process.

Define numerator, denominator and window preciselyPick a randomisation unit that respects interferenceSeparate novelty effects from durable behaviour change

35 min read

Browse Data Scientist questions

See the practice prompts

17Practice promptsAcross five skill areas
3With worked solutionsIncluded in the practice prompts

A Data Scientist at Nomura operates at the intersection of quantitative finance, advanced analytics, and strategic decision-making. You will be responsible for building predictive models, optimizing trading strategies, and providing data-driven insights that influence the firm's global market operations. Whether you are working with interest rate quant teams or broader market research groups, your work directly impacts the efficiency and profitability of one of the world's leading financial institutions.

This role is both technically demanding and intellectually rigorous. You will navigate complex, high-dimensional datasets to solve real-world financial problems, often requiring a blend of statistical modeling, machine learning, and domain-specific financial knowledge. Success in this role requires not only mathematical prowess but also the ability to communicate complex findings to stakeholders who rely on your output to mitigate risk and capture market opportunities.

Prepare to demonstrate how your technical models translate into business value. Nomura values candidates who can bridge the gap between abstract mathematical theory and practical, actionable financial strategy.

01

Initial Screening

reported

Data Scientist covers at least four different jobs: experimentation, product analytics, causal work on observational data, and applied modelling that ships into a system. A screening call is the cheapest place to find out which of them is being hired for, and doing that diagnosis openly reads as senior rather than fussy. Ask what the last few pieces of work on the team actually were, and roughly how a week splits between querying, modelling and stakeholder time. Then say which parts of that you have done and which you have not. Claiming the whole range is the fastest way to be caught one round later.

What to demonstrate

  • Whether you can distinguish the flavours of the role and locate your own experience inside one of them honestly
  • Whether you name what you have not done instead of stretching to cover every line of the posting
  • Whether your hard constraints (notice period, location, work authorisation, level) surface now rather than at offer stage

How to prepare

  • Map the last two years of your time into rough percentages across query writing, experiment design, modelling and stakeholder work, so a question about scope has a real answer
  • Mark every responsibility in the posting as done, adjacent or new, and prepare one sentence for each adjacent item naming the closest thing you have actually built
  • Decide which logistics are non-negotiable before the call so you can state them in one sentence rather than negotiating live
PracHub interview research ↗
02

Technical Interviews

reported

This round decides whether someone can hand you a schema and a question and trust the number that comes back. Correctness under a clock is the bar, not clever syntax. The habit that separates strong from weak answers is checking the grain: after every join, know how many rows you expect and whether the count moved. Most wrong answers in this format are not wrong logic, they are a fan-out from a key that turned out not to be unique, or a filter applied before an aggregate when it belonged after. Say what you expect before you run it.

What to demonstrate

  • Whether your row counts survive each join, and whether you notice on your own when they do not
  • Deliberate handling of rows that fail to match, including whether the question needs an inner join or a left join with the non-matches kept and counted
  • Whether NULLs are treated on purpose, given that a NULL compares equal to nothing and that COUNT of a column skips it
  • Reaching a defensible answer inside the window instead of a refined one after it

How to prepare

  • Take a two-table schema, write a join that fans out on purpose, then fix it by collapsing the many-side to one row per key before joining. Repeat until the fix is reflex rather than recall.
  • Write a funnel as one query and print the distinct user count at each stage, then confirm each stage is a subset of the one above it rather than assuming it
  • Do a few timed runs in a plain text box with no autocomplete and no formatter, since assessment editors often have neither
PracHub interview research ↗
03

Group Discussions

reported

An added round often puts you in front of someone outside the core hiring team: a partner engineer, a product owner, a domain expert, sometimes a more senior manager. The question they are really asking is not whether you can do the work but whether they would trust a number that came from you. That changes what a good answer looks like. Lead with what the decision cost and what it changed, keep the method available but not central, and be plain about the limits of your evidence. Overstating a result is the fastest way to lose this round.

What to demonstrate

  • Whether you can explain a technical choice to someone who will never read your code, without either flattening it into nothing or hiding inside jargon
  • Honesty about evidence strength: what the analysis establishes, what it only suggests, and what it cannot say at all
  • How you take disagreement, specifically whether you update on a good objection, hold your position with reasons, or fold on contact

How to prepare

  • Write the two-sentence version of your most technical project for a non-specialist, then check that neither sentence needs a method name to make sense.
  • For one result you are proud of, write the strongest objection someone could raise and a response that concedes the part of it that is correct.
  • Prepare one decision that turned out to be wrong: how you found out, what it cost, and what you changed afterwards. A senior cross-functional interviewer asks for this more often than a technical one does.
PracHub interview research ↗

PracHub editorial advice for the preparation topics above.

01

Watching an experiment daily and stopping when it crosses significance

A fixed-sample test controls type I error at one pre-declared look. Checking repeatedly and stopping at the first p < 0.05 inflates the false positive rate to roughly 0.15 to 0.20 for ten looks, and it rises further with more frequent checks, because the p-value takes a random walk that will eventually dip below the threshold under the null. The usual defences are a fixed horizon declared before launch, group-sequential boundaries such as O'Brien-Fleming that spend alpha across a planned number of looks, or always-valid confidence sequences that are correct under continuous monitoring. Compounding it, the effect size reported conditional on having crossed the threshold is biased away from zero, and the bias is larger the lower the power was, so an underpowered test that 'won' typically overstates the lift it found.

02

Treating last-touch attribution as the causal value of a channel

The attribution label on dim_user is the output of a rule that assigns full credit to whichever touch happened to be recorded last inside a lookback window, and that rule systematically rewards channels that sit close to the conversion, especially branded search and retargeting, which largely intercept demand that already existed. Reallocating spend on those labels moves budget toward the channels that are best at being last, which is why attributed return on ad spend often improves while total signups do not. Nothing in the touchpoint data can settle this, because the counterfactual of not running the channel was never observed. The credible reads are a geo holdout or a scheduled pause, sized in advance on the total-signups metric rather than on the attributed one, and the honest framing in the meantime is that the label describes correlation with conversion and not incremental contribution.

03

Generalising beyond the population the sample actually supports

State the frame the sample was drawn from and where it diverges from the population you want to talk about: time window, platform, geography, opt-in. If a group is excluded from the frame, either weight to known margins or narrow the claim rather than quietly extending it.

04

Averaging per-user rates to produce a population rate

Decide which quantity you want: the mean of per-user ratios and the ratio of summed numerator to summed denominator are different estimands, and heavy users dominate one but not the other. For a ratio metric, aggregate numerator and denominator separately and use the delta method for its variance.

Choose a category, try a prompt, then open its approach, worked solution or follow-up when you need it.

14 technical prompts3 include a worked solution

Calculate the probability of a specific outcome given a set of indepen…

medium
statistics and probability

Calculate the probability of a specific outcome given a set of independent events.

Approach
  1. Say what the estimate is of, and over what population it generalises.
  2. Sanity-check the answer against a simple bound or a simulated case.
  3. Write down the assumption the method needs before you use the method.
Follow-up
  • How would you explain this result to someone who does not know statistics?
  • Which assumption here is most likely to be violated in practice?

Explain the difference between frequentist and Bayesian inference.

medium
statistics and probability

Explain the difference between frequentist and Bayesian inference.

Approach
  1. Write down the assumption the method needs before you use the method.
  2. Quantify uncertainty explicitly rather than reporting a point estimate alone.
  3. Sanity-check the answer against a simple bound or a simulated case.
Follow-up
  • Which assumption here is most likely to be violated in practice?
  • How would you explain this result to someone who does not know statistics?

How would you handle multicollinearity in a regression model?

medium
machine learning and modelling

How would you handle multicollinearity in a regression model?

Approach
  1. Set a baseline first, so any model has something honest to beat.
  2. Say how the offline result would be validated online before it is trusted.
  3. Check what information would not exist at prediction time, and exclude it.
Follow-up
  • What would you monitor after launch to know the model is still valid?
  • How would you choose the decision threshold, and who owns that choice?

How do you assess the performance of a model when the data is imbalanc…

medium
machine learning and modelling

How do you assess the performance of a model when the data is imbalanced?

Approach
  1. Set a baseline first, so any model has something honest to beat.
  2. Say how the offline result would be validated online before it is trusted.
  3. Frame the prediction: the label, the moment of prediction, and the action it triggers.
Follow-up
  • Where could label leakage enter this setup?
  • How would you choose the decision threshold, and who owns that choice?

Cluster bootstrap for a per-session rate randomised on users

hardWorked solution
cluster bootstraprandomisation unitvariance

An experiment randomised on user_id reports a per-session conversion rate, so sessions inside a user are correlated. Input: one row per session with user_id, variant in {control, treatment} and converted in {0,1}. Write a cluster bootstrap from scratch: resample users with replacement within each arm, keep every session of a drawn user, recompute each arm's ratio of converted sessions to sessions, and take the difference. Return the point estimate, a 95 percent percentile interval from at least 2,000 resamples, the naive session-level interval that ignores clustering, and the ratio of their widths.

Approach
  1. Name the estimand precisely: it is a ratio of sums, sum(converted) over sum(sessions) within an arm, not the mean of per-user rates. Those differ whenever session counts vary across users, and the ratio is what the reported metric is.
  2. Resample the cluster, not the row. Draw n_users user ids with replacement inside each arm and take every session belonging to each draw, including duplicate draws of the same user. Keeping the user count fixed per arm rather than the session count is what preserves the sampling design.
  3. Precompute per-user (converted_sum, session_count) once, so each resample is two vector lookups and a division rather than a repeated filter over the session frame. That turns 2,000 resamples from minutes into under a second.
  4. Take the 2.5th and 97.5th percentiles of the 2,000 differences for the interval, and report the point estimate from the full data rather than from the bootstrap mean, since the bootstrap mean carries the resampling bias.
  5. Compute the naive interval from the session-level binomial standard error and compare widths. The expected inflation is roughly sqrt(1 + (m-1)*rho), with m the mean sessions per user and rho the intraclass correlation of converted within users, so a computed ratio far from that value points at a bug in one of the two intervals.
Worked solution 35 min
  1. per_user = df.groupby(['variant','user_id'])['converted'].agg(['sum','size']); split into two arrays per arm.
  2. point = (t_sum.sum() / t_n.sum()) - (c_sum.sum() / c_n.sum()).
  3. For b in range(B): idx = rng.integers(0, len(t_sum), len(t_sum)); ratio_t = t_sum[idx].sum() / t_n[idx].sum(); same for control; store the difference. Vectorise by drawing a (B, n) index matrix if memory allows.
  4. ci = np.percentile(diffs, [2.5, 97.5]); naive_se = sqrt(p_t*(1-p_t)/n_sessions_t + p_c*(1-p_c)/n_sessions_c); naive_ci = point +/- 1.96*naive_se.
  5. width_ratio = (ci[1]-ci[0]) / (naive_ci[1]-naive_ci[0]).
EXPECTED RESULTA point estimate identical to the full-data ratio difference, a percentile interval containing that point estimate, and a width ratio greater than 1 whose value approximates sqrt(1 + (m-1)*rho) for the data's mean cluster size m and intraclass correlation rho. A ratio of approximately 1.0 means sessions were resampled instead of users.
Follow-up
  • Users average 3.4 sessions and the intraclass correlation is 0.12. What width ratio do you predict before running it, and does your bootstrap land there?
  • Give the delta-method standard error for this ratio and say when you would prefer it to the bootstrap.
  • Half the users in the treatment arm have exactly one session. What does that do to the cluster bootstrap's coverage, and how would you check it?

Four days spend equal time on query work, statistics, modelling and product judgement at deliberately shallow depth, which produces a scored map of where you actually stand. The last three days spend everything on the two areas the role weights most, and close by re-running day one to measure movement.

Small steps. Visible outcomes.0 / 7 completed
ONE WEEK · YOUR PACE

Prepare, practise & reflect

One practical outcome each day. Spend longer where you need it.

0 / 7 done
01Breadth pass: query fluency
  • Solve six prompts spanning aggregation, joins, window functions and date arithmetic in 60 minutes total, stopping at 10 minutes each whether or not it works, and mark every prompt as solved, solved slowly, or stuck.
  • For each unsolved prompt write the single blocking sentence (I lost the grain, I did not know the frame clause, I could not express the date boundary) instead of reading the solution.
  • Translate one pandas transformation you know well into SQL and one SQL query into pandas, checking that both return the same row count and the same totals.

Deliverable: A scored six-row table, one line per prompt, saved for the day-seven re-run.

Practice prompt ↗Practice prompt ↗Practice prompt ↗Worked solution ↗
02Breadth pass: statistics and inference
  • Answer ten short questions in writing with nothing open: what a p-value is conditional on, what a 95 percent interval covers across repeated samples, when a paired test is the right one, what the bootstrap estimates, why multiple comparisons inflate false positives, how controlling the family-wise error rate differs from controlling the false discovery rate, what power depends on, what a missed real effect costs a product, the three situations where the central limit theorem does not rescue you (small n, very heavy tails, dependent observations), and what a standard error is the standard deviation of.
  • Grade yourself against a reference and count only the answers that were exactly right, not the ones that were nearly right.
  • Rewrite the two weakest answers the following morning from memory in full sentences.

Deliverable: Ten graded answers with an honest count of exact hits.

Practice prompt ↗Practice prompt ↗Practice prompt ↗
03Breadth pass: modelling
  • Take one tabular dataset end to end in 90 minutes: a leakage-safe split, a baseline that is not a model (majority class or historical mean), one regularized linear model, one gradient-boosted tree, and a single evaluation metric chosen before you look at any result.
  • Write why that metric fits the cost structure: precision at a fixed recall for alerting, calibration for anything feeding a price or a threshold, ranking metrics for retrieval, and note that area under the ROC curve is insensitive to class balance in a way that can flatter a rare-positive problem.
  • Name the leak you were most likely to introduce (an encoding fit on all rows before splitting, or a feature computed after the label's timestamp) and write the check that would have caught it.

Deliverable: A notebook whose first cell states the metric and the baseline, plus two lines on what beat what and by how much.

Practice prompt ↗Practice prompt ↗Practice prompt ↗
04Breadth pass: product judgement
  • Answer three case prompts aloud at 15 minutes each, timing how long passes before you state a success metric.
  • For one case write the first segmentation you would run and the row counts you expect per segment, so that a tiny segment cannot quietly drive the conclusion.
  • Take a metric definition you did not write, from a public dashboard, a textbook, or documentation you already have open, and list every place two analysts implementing it would diverge: which rows the denominator admits, whether the unit is an account or a person, what the time window is anchored to, and what happens to data that arrives late. Then write the one question that would close the largest of those gaps.

Deliverable: Three recorded case answers plus an ambiguity list for a metric someone else defined, ending in the single question you would ask about it.

Practice prompt ↗Practice prompt ↗Worked solution ↗
05Depth, first area
  • Rank the four areas by how many bullet points in the role description each one covers, pick the top one, and spend the entire day inside it.
  • Work the six hardest problems you can find in that area and for each write the generalizable move you should have reached for first, rather than the answer.
  • Re-solve the two you failed the same evening with notes closed.

Deliverable: Six generalizable moves written as instructions to yourself, not as solutions.

Practice prompt ↗Practice prompt ↗
06Depth, second area, and the seam between them
  • Repeat the depth protocol on the second-ranked area with the same six-problem structure.
  • Construct one problem that requires both areas at once, for example a metric redefinition whose effect you must validate with a test whose readout you then have to query.
  • Solve your own combined problem end to end and note where the handoff between the two areas cost you time.

Deliverable: One combined problem, solved end to end, with the handoff failure written down.

Practice prompt ↗Practice prompt ↗
07Integration and re-measurement
  • Re-run the six prompts from day one under the same clock and compare both correctness and time.
  • Run a 60-minute mixed mock that moves between areas without warning, since switching cost is what breadth passes do not train.
  • Write the two areas you would still fail on, and the sentence you will use in the interview when you hit one of them.

Deliverable: A before-and-after score table plus a written plan for the two remaining gaps.

Practice prompt ↗Practice prompt ↗Worked solution ↗

Expand any day for tasks and deliverables. Your progress is saved on this device.

A number you shipped turned out to be wrong, and someone had already acted on it. That is one of the most useful stories a data person can carry. What is being scored is how fast you noticed, who you told first, and what you changed in the process so the same class of error could not repeat quietly.

How do you handle missing or noisy data in a production environment?

medium
behavioural and stakeholder questions

How do you handle missing or noisy data in a production environment?

Approach
  1. Name the disagreement or constraint, and how you resolved it with evidence.
  2. State the situation in two sentences and spend the rest on your reasoning.
  3. Quantify the outcome, including what you would not claim credit for.
Follow-up
  • How did you know the outcome was caused by your change?
  • What would you do differently if you ran that project again?

Quantify your own impact without claiming the topline you touched

hard
self-assessmentattributioncommunication

You are writing the impact section of your own review. Over the year you ran four experiments, one of which shipped and three of which were flat; you corrected the definition of gross monthly revenue churn so that cancellation is recognised at period_end_utc; and you built a self-serve funnel dashboard. Weekly active accounts rose 14% over the same period. Your reviewer knows the data well. Write the three impact claims you would defend, stating for each what you contributed, what evidence supports it, and what portion of the outcome you are not claiming.

Approach
  1. Recognise what is being probed: whether you apply to your own work the causal standard you would apply to somebody else's roadmap claim. Nearly everyone who would reject 'accounts that do Y retain better' will write 'I drove a 14% increase' without noticing it is the same error with a friendlier subject.
  2. Sort the work by the kind of evidence it can carry. The shipped experiment is the only item with a randomised estimate, so it is the only one where an effect size is defensible, and you claim the interval rather than the point estimate.
  3. Claim the three flat experiments as decisions prevented and price them. Features not built, or built differently, on evidence, with the engineering weeks reallocated as the number somebody else can verify. A defensible null is a delivered decision and should be written as one.
  4. Claim the definition fix as correctness, not as improvement. The old figure was overstated by a specific percentage and appeared in a specific set of recurring documents; the impact is the change it produced in the forecast built on top of it, not a change in churn itself.
  5. Claim the dashboard on usage and displacement: distinct weekly users of it, and the ad-hoc request count for six months before against six months after. If the request log does not exist, record the claim as unverified rather than estimating it upward.
  6. Disclaim the 14% explicitly and once. State that it cannot be separated from seasonality, other teams' launches and a pricing change, and bound your own contribution from above using the shipped experiment's interval converted into headline units.
Follow-up
  • Your shipped experiment's interval was +0.2pp to +1.4pp on activation. How much of the 14% can that account for, and how do you say so without undercutting yourself?
  • A peer in the same cycle claims the full 14%. What, if anything, do you do about it?
  • If you could only keep two of your three claims, which do you drop, and why that one?

Defend a flat experiment readout against a post-hoc segment

medium
experimentssegmentationpushback

A feature you evaluated is flat on seven-day activation: +0.05pp with a 95% interval of [-0.47pp, +0.57pp], from 61,000 exposed users per arm in fct_experiment_exposure joined to dim_user and fct_event. Baseline activation is 32%. The launch team asks you to drop every surface except mobile_web, where the point estimate is +1.1pp, and re-run. You have ten minutes in their planning meeting. Deliver a spoken position: what you will and will not do, and the decision you recommend.

Approach
  1. Recognise what is being probed: whether you hold a statistical position under social pressure without becoming either rigid or apologetic. A generic answer says the segment is not significant; a strong one separates the request into a question that is answerable (is the mobile_web number real?) and one that is not (can we ship on it?), and answers both.
  2. Price the multiplicity out loud. The slice was chosen after seeing the results, so its estimate is selected on favourable noise and is biased away from zero. With k independent looks at a nominal 5% level, the chance of at least one false positive is 1 - 0.95^k: 26% at six segments, 64% at twenty. Quote the k you actually inspected, not the k you reported.
  3. Use the arithmetic already in front of you. On the point estimates, a +1.1pp mobile_web effect combined with a pooled +0.05pp implies the remaining surfaces average negative in proportion to mobile_web's share of exposures. State that as a testable implication of their story rather than as a rebuttal of it.
  4. Ask the one question that settles the category: was mobile_web named in the analysis plan before launch? If it was, it is a planned comparison and gets a corrected reading. If it was not, it is a hypothesis, and the honest move is to size the test that would confirm it.
  5. Convert the refusal into a cost. Size a mobile_web-only confirmatory test at the claimed effect, state the weeks of mobile_web traffic it needs, and close with the recommendation: do not ship this as a lift, and note that the interval already rules out anything at or above +0.6pp, which is itself a useful input to the roadmap.
Follow-up
  • The confirmatory test you sized needs nine weeks of mobile_web traffic and the team has three. What do you recommend instead?
  • Suppose mobile_web was pre-registered. How does your reading change, and what correction do you apply?
  • Your interval excludes +0.6pp. Is that the same as saying the feature does nothing?
  • 01

    How do you handle missing or noisy data in a production environment?

  • 02

    You are writing the impact section of your own review. Over the year you ran four experiments, one of which shipped and three of which were flat; you corrected the definition of gross monthly revenue churn so that cancellation is recognised at period_end_utc; and you built a self-serve funnel dashboard. Weekly active accounts rose 14% over the same period. Your reviewer knows the data well. Write the three impact claims you would defend, stating for each what you contributed, what evidence supports it, and what portion of the outcome you are not claiming.

  • 03

    A feature you evaluated is flat on seven-day activation: +0.05pp with a 95% interval of [-0.47pp, +0.57pp], from 61,000 exposed users per arm in fct_experiment_exposure joined to dim_user and fct_event. Baseline activation is 32%. The launch team asks you to drop every surface except mobile_web, where the point estimate is +1.1pp, and re-run. You have ten minutes in their planning meeting. Deliver a spoken position: what you will and will not do, and the decision you recommend.

PracHub interview preparation framework ↗
Is this an official Nomura interview guide?

No. It is PracHub's own research and practice material for the Data Scientist role at Nomura. Rounds and questions reflect what candidates have reported, not a process Nomura has published, and they change over time. Confirm the current format and scope with your recruiter.

PracHub interview research ↗
How long does the entire interview process take?

The process can be lengthy, often spanning several weeks to a few months. It is not uncommon for the process to involve multiple rounds of interviews with various team members to ensure technical alignment and cultural fit.

PracHub interview research ↗
Should I expect coding tests on a computer or a whiteboard?

Both are possible. Be prepared to talk through your logic while coding, as the interviewer is more interested in your problem-solving process than just the final lines of code.

PracHub interview research ↗
How technical are the interviews?

They are highly technical. Expect to be challenged on the theoretical underpinnings of your work, not just the application of libraries or tools.

PracHub interview research ↗
What is the best way to stand out?

Demonstrate a deep curiosity about financial markets and the ability to explain how your technical work solves specific, high-stakes business problems.

PracHub interview research ↗
Sources & methodology 3 sources ↗

No official company page is cited. Rounds and questions come from candidate reports and PracHub editorial material; each source shows the date it was read.