Vice President - Valuation Control

VP - Valuation Control

Location : Mumbai

Job Description :

- You will be part of the Product Control team locally and will responsible for production of daily P&L analysis and control, New products due diligence, Fair Value Adjustments, Day 1 P&L, reconciliation of trader P&L estimates to actual P&L, P&L attribution, Independent Price Verification, Off-Market Rate Checking, Transfer of banks Interest rate risk and monitoring of Permitted Instruments.

- The job holder is also responsible for validating Market data, Stale rates and implementing controls around market data sources for the banking entity of the HSBC group in India.

- The jobholder will additionally work closely with other countries in the South Asian Cluster countries namely Sri Lanka, Bangladesh and Mauritius in reviewing their outputs and control processes.

Principal Responsibilities :

- Production & analysis of Daily P&L for all suites of markets product like Forex, Derivatives, Fixed income, money market & other structured products including review of trader estimates vs actual breaks.

- Computation & accounting of various Fair Value adjustments including Credit / Debit Value adjustments & Independent Price verification.

- Review & validation of day end rates to be uploaded in various Markets systems for EOD Valuation, stale price checks along with building controls around the data sources.

- Reviewing Off market rate check reports & permitted instrument monitoring reports highlight the exception to management.

- Accurate transfer of Interest rate Risk generated from different banking products into Markets.

- Preparing agenda's & running the Valuation committee meeting to adequately cover & document all valuation related issues.

- Reporting of various financial and management reports as prescribed by applicable regulation like RBI / HKMA / PRA / FSA etc and FIM related to P&L & valuation controls.

- Responsible for implementing accurate and efficient controls on accounting for all Global Markets (GM) transactions, in accordance with local and Group requirements

- Periodic review of various internal policies on Fair value adjustments, prudent value adjustment, off-market rate checking etc,

- Independently handle various audit requirement of regulatory audit, internal audit, statutory audit & other compliance reviews along with working towards the closure of audit findings.

- Independently handle PC related IT projects by providing User requirements, performing UAT & post implementation reviews.

- Understand Risk and Control framework including SOX and help track and escalate incidents and operational losses related to PC.

- Assist PC in smaller cluster sites namely Sri Lanka, Bangladesh and Mauritius by reviewing key daily deliveries, performing periodic reviews and help in sorting or escalating issues appropriately.

Qualifications :

Internal Qualifications/Requirements :

- The ideal candidate would have a post graduate qualification in Finance from a top tier institute or a Accountant with a minimum of 4 to 5 years of experience in Product Control.

- Strong communication, Presentation and interpersonal skills. Candidate will independently interact with various senior internal as well external customers like Head of Markets, Desk Heads in Markets, CRO, CFO, Senior personnel in Finance, Auditors etc and represent PC in various forums.

- The jobholder should possess a expert understanding of valuation and risks relating to Market Products and processes.

- Good excel and database skills. VBA knowledge and ability to work with large amounts of data would be an advantage.

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Contact Details :

Priyanka
Conjugate Consulting & Outsourcing Pvt. Ltd
Platinum Technopark, 3rd Floor, 325
Behind Raghuleela Mall, Vashi
Navi Mumbai- India.