EMEA FXLM Valuations Control Manager

  • Negotiable
  • London, England, United Kingdom
  • Permanent, Full time
  • Citigroup Global Markets
  • 30 Aug 16

Valuation Control & Analytics (VC&A) is an independent global group within Product Control responsible for reviewing and reporting fair value inventory consistently across all asset classes.

VC&A is organized along business lines and clients of the group include Business Heads, Line Product Control, Market Risk, Model Validation, Compliance, Legal Department, Middle Office, Internal Audit, external audit firms and the regulatory bodies in countries impacted by Citi's footprint. VC&A collaborates closely with its client base to ensure complete understanding of business valuation issues and accurate execution of valuation control policy.

The successful candidate will lead the EMEA FXLM VC&A team.

Job Purpose:

We are seeking a candidate to be the EMEA VC&A FXLM Manager.

The candidate must have a strong understanding of derivatives pricing and good knowledge of products traded within the FX and local markets businesses, along with a good understanding of implementing/maintaining an effective control framework.

The EMEA VC&A Manager will be interacting on a daily basis with Senior Management within the FXLM Business and Risk Management and will be responsible for all aspects of reviewing and reporting fair value with the business.

The VC&A Manager will regularly meet with internal and external audit, as well as regulators from the UK. The role also involves working with VC&A partners globally.

Key Responsibilities:

Primary Responsibility

  • Provide reasonable assurance that portfolios across all legal entities are fairly valued and reported in accordance with applicable accounting standards and regulatory requirements, using consistent methodologies and consistent sources of information wherever possible
  • Highlight uncertainties in valuation and work with trading and quantitative groups to fully understand their impact and any accompanying fair value adjustments
  • Immerse rapidly into a developing situation to provide analysis, solutions or create ideas focusing on areas such as valuation methodology, computation techniques, process, systems controls evaluation, and data analysis
  • Help to facilitate the provision of information pertaining to ASC 820-10 (Topic 820) to Policy, Reporting and Analysis for purposes of internal and external reporting
  • Senior point of contact for new trade review and model approval from a VC&A perspective

People Management and Leadership

  • Strong leadership and accountability for FXLM VC&A
  • Developing skills within the team, identifying training and development opportunities for team members
  • Setting a clear agenda, direction and goals for the EMEA FXLM VC&A team

Control Framework

  • Accountable for EMEA FXLM VC&A MCA (Managers Control Assessment) control design, effective operation and escalation

Knowledge/Experience:

  • 10+ years experience in a Valuation Control, Risk or Product Control related function covering FXLM
  • Strong understanding of derivative pricing methodologies and hedging practices / strategies
  • Strong understanding of FX pricing models and their limitations
  • Expertise in implementing price-testing and reserving methodologies
  • A proven track record of working in teams

Skills:

  • Ability to apply theoretical knowledge in a practical environment
  • Ability to understand complex concepts and effectively challenge the Business
  • Proven ability and experience of leading a team, onshore and/or offshore
  • Ability to manage time and work priorities efficiently and effectively
  • Ability to perform within a time pressurised environment
  • Understanding how to design and maintain a robust control framework. Demonstrates a strong leadership and focus on control. Ensuring integrity of reporting and independence of controls associated with critical function
  • Excellent people management skills with the ability to lead, train and develop a team
  • Ability to communicate effectively
  • Hands-on. Must have a good eye for detail, but also be able to step back and see the bigger strategic picture

Competencies

  • Leadership skills
  • Ability to work well in a team
  • Self-motivated and innovative
  • Ability to prioritise to ensure deadlines are met
  • Strong communication skills, both written and oral
  • Excellent interpersonal skills - able to deal with a range of senior/junior staff across a number of disciplines

Qualifications:

  • Degree in a quantitative discipline, such as Mathematics, Physics, Engineering, Finance, etc.