Assistant Manager - Financial Valuation/Analysis - Bank

A Global Bank, one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

We are a part of the Global Business Services which delivers technology and operations capabilities to all lines of business (LOB) and enterprise functions.

Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.

Process Overview:

GVG Governance and Strategy is responsible for oversight of valuation framework and reporting, ensuring that changes and updates to the regulatory and internal environment are understood and implemented effectively and consistently across LOB's.

Independent valuations is one of the primary controls to ensure accurate and consistent marking of transactions the bank has on its books. GVG is a cross product and cross region function within the CFO function that is responsible for governance, oversight, challenge, development and enhancement work around the valuations framework.

The valuations framework includes:

- Independent Price Verification (IPV): Which is the process of comparing internal prices and parameters used to mark position valuations to a corresponding set of independently verifiable external prices and parameters.

- Valuation Adjustments (VA's): Which are balance sheet adjustments taken to reflect:

The close out costs of positions

- Model deficiencies or approximate bookings that may cause material mismarks of positions.

- Coordinating regular regulatory disclosures. Including, amongst others, Prudent Valuation, Fair Value Hierarchy.

- Regulatory and Management Reporting

GVG itself is split into three functions:

- Strategy and Governance: Lead on valuation control initiatives and consolidated reporting. Responsible for coordinating implementation of changes and updates to the regulatory environment.

- Methodology: Review, challenge and development of methodologies used in valuations.

- Infrastructure Development: Development of technology initiatives related to valuations

Job Description:

GVG Governance and Strategy responsibilities include:

- Work with Finance, GVG Methodology and Infrastructure teams, and other groups as necessary, to ensure that BoFA has a consistent valuations framework that meets requirements, internal and external, providing effective balance sheet control.

- Work with Finance, GVG Methodology and Infrastructure teams on valuation control initiatives and strategic projects.

- Develop and participate in the ongoing review and challenge of GVG/BFO processes and documentation to ensure adherence with governance requirements from the VCG, Valuations Strategy or regulatory requirements.

- Production, review and analysis of consolidated reporting for:

- Monthly IPV, VA and Prudent Valuation analysis for senior management, audit and regulators.

- Consolidated reporting for quarterly regulatory reporting.

- Develop tactical and strategic solutions to improve the efficiency and accuracy of reporting.

- Set the standards documented in the VCG (Valuation Control Guidance)

Responsibilities:

We are looking for an individual to join the India Valuations Governance and Strategy group which sits within the CFO Global Valuations Group (GVG).

- Contribute to the team's daily, monthly and quarterly processes

- Communicate effectively

- Takes full ownership of assigned deliverables.

- Focuses on front to back understanding of the business.

- Effectively manages expectations of stakeholders.

- Working with management to action process and technology initiatives across GVG

- Identify and improve processes across the team as agreed with management

Requirements:

Education:

Postgraduate degree or accounting qualification (e.g. Chartered Accountant - CA)

Certifications If Any

Experience Range: 4-8 years

Foundational skills - Industry, Finance or Product Control experience

Desired skills Access/ VBA skills

Work Timings- EMEA

Job Location- Gurgaon