Vice President - Valuation Control - Investment Bank

Vice President- Valuation Control- Leading Investment Bank

- Independent Price Verification (IPV): Key control to ensure the firm's trading and banking assets and liabilities are accurately valued. Failure may lead to misstatement of the firm's financial-statements, risk information and regulatory reporting. IPV results are raised to Product Control Management and Front Office ensuring appropriate actions can be taken where differences arise. PCA responsibilities include formulating and conducting independent price verification processes.

- Valuation adjustments are made to ensure the firm's positions are marked at their appropriate Fair Value in order that the financial-statements are accurate. Fair Value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between participants at the measurement date. PCA responsibilities include the calculation of valuation adjustments and collaborating with VRC / BFD functions to raise material moves and changes, benchmarking and uncertainty calculations for risk factors in scope.

- Prudent Valuation is a regulatory requirement to quantify Valuation Uncertainty for Fair Valued positions in PRA/EBA regulated entities in scope. The high-level requirement is to calculate the Fair Value to a 90% confidence level with the difference to the Fair Value Books & Records taken as a direct reduction of from Tier 1 Capital. PCA Valuation will calculate additional valuation adjustments (AVA) for risk factors in scope, in accordance with documented methodologies and submit complete and accurate reporting templates (COREP) to the PCA PruVal reporting team.

- Governance: Implement controls to detect unauthorized trading or unusual activity and raise in a timely manner to senior management. Reporting and escalation of IPV and valuation issues at the relevant meetings/forums. Identification and review of Significant Unobservable Parameters and Prices (SUPP) by the SUPP process. Compliance with PCA related SOX requirements.