Senior Manager/AVP - Valuations - Price Valuation & Derivatives

Sr. Manager / AVP-Valuations( Price Valuation & Derivatives)

Global Valuations Group(GVG)

Scale and scope of the position

The Global Valuation Group (GVG) is a cross products and cross region group within the CFO function that is responsible for governance, oversight, challenge and development work around the valuations framework, of which a significant part of the production work is performed in the LOB Business Finance Organisation (BFO). GVG also owns the consolidated reporting to senior management and regulators.

Valuations tasks performed by the BFO are the calculation of

- 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.

- Regular regulatory disclosures including Prudential Valuation, Fair Value Hierarchy.

- LOB reporting

The GVG group itself is split into three functions:

- Strategy and Governance: Lead on valuation control initiatives and consolidated reporting.

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

- IT: Development of technology initiatives related to valuations.

The role involves working as part of the GVG global team under the Strategy and Governance function, supporting both the GVG group in its functions and the monthly work undertaken by the BFO.

Independent valuations is one of the primary controls to ensure accurate and consistent marking of transactions the bank has on its books.

The processes are currently performed in London, New York and Hong Kong. A target operating model involves transitioning support activities off-shore of both the GVG group and the BFO production work.

Responsibilities

The GVG function has a small headcount already and the role is to own, manage and grow the team to increase capacity to on- board work supporting valuations production and reporting work globally. around consolidated reporting and valuations production.

Apart from the day to day management of team and the processes transferred, the individual will proactively engage with the LOB BFO's and GVG in quantifying and escalating valuations and reporting issues where and when they may arise.

Given the scope and high profile of independent valuations across the industry and within the regulatory environment, this is an excellent opportunity for an individual with product and model pricing knowledge and organisational skills to broaden their skill set.

Requirements

This opportunity will offer a highly varied, visible role enabling exposure and opportunity to learn across all of the Line of business within the Investment Bank.

Essential

- CA/MBA from Tier 1-3 institute with 10+ yrs of experience

- Team Management Skills

- Experience in dealing with remote/offshore management.

- Derivative Product and Pricing Model knowledge.Month end derivative price testing.

- Numerate academic background.

- Project/Initiative Experience

- Strong MS Office skills, particularly Excel and SQL

- Strong control mentality

- Strong verbal and written communication skills

- High level of ownership and attention to detail

- Project/Initiative Experience

Desirable

- CFA Level 2

- Experience of working with large volumes of data

- Previous valuations experience

Valuations work is being identified across all lines of business which can potentially be moved from hub locations (London, New York and Hong Kong). This will include, but is not restricted to, the below:

- Valuations Adjustments Production

Liquidity VA's.

Model VA's.

Deal Specific VA's.

- IPV Production across

Management of subscription to and submissions of data to consensus services.

Intra-month production and analysis of vanilla portfolios.

Month end production and initial analysis of vanilla/complex portfolios.

Demonstrating completeness of price testing.

Collateral price testing.

- Reporting

Consolidation of cross LoB reporting for month end valuations work.

Production and review of Management and Regulatory reporting packs.

- Disclosures

Prudential Valuation Monthly Production

Quarterly FAS 157 Production

- Technology

Improvement and streamlining of current processes.

Transfer of processes to technology solutions.

Associates would be expected to work with staff in hub locations to develop methodology, improve cross business/region consistency and identify time and cost savings.