AVP - Product Control / Valuation Controller

  • £55,000 - £75,000 Basic + Benefits
  • London, England, United Kingdom
  • Permanent, Full time
  • Gresham Hunt
  • 11 Oct 18

Gresham Hunt have partnered with a Global Top Tier Banking Group who are looking to recruit an AVP to join their Global Product Control & Valuations team.

Main Activities of the team: Valuations, Global Valuation Reporting, Quantitative Analysis and Quantitative Infrastructure Development.

The individual will be responsible for calculating / coordinating and thoroughly review reserves related to monthly and quarterly Independent Price Verification (IPV), Fair Value Adjustment (FVA) and Prudent Valuation Adjustments (PVA) reserves.

Responsible for the production / coordination and review of: 

  • All IPV, FVA and Prudent Valuation balances;
  • All IPV and FVA methodologies and documentation;
  • Monitoring model restrictions and recommendations;
  • Levelling returns:
  • Answering to Business Risk and Controls Management (BRCM), Internal/External Audit queries
  • Implement recommendations deriving from Market Independent Model Review reviews
  • Engagement with Corporate Centre and GSF core Product Control to ensure that the valuation conclusions are accurately reflected in the books and that the communication with the business is seamless and consistent.
  • Keep up to date with any core Product Control production issues.
  • Responsible for the governance and controls of Valuation Policy and ensuring this is disclosed and ratified by the Valuation Committee meeting at least once a year.
  • Work with the Analytics team and individuals from within the Valuations Group Holdings and Business Leads to identify the need for, and implementation of, fair value adjustments.
  • Ensure Valuation Group FIM requirements and other applicable accounting / regulatory standards are met. Liaise with Internal/External audit and regulators where necessary.
  • Work to ensure consistency in policies/standards across sites/teams and implement strategies to improve consistency where it is not already in place.
  • Identify, communicate and drive resolution of issues; whether people, process or system.
  • Maintain focus on process optimization and identify opportunities to enhance cost efficiency where possible (e.g. automation, outsourcing, centralization etc.).

Experience Required

  • Demonstrable track record in top-tier global bank.
  • Detailed knowledge of Valuations processes and proven experience of managing Product Control or Financial Process based activities.
  • Extensive market derivative knowledge in fixed income asset classes: Rates, Loans and Credit.
  • Experience of Fixed Income Models and Derivatives Valuation Framework (OIS Discounting / CVA / FFVA / TLAC).
  • Experience of developing methodology and shaping policy for IPV / FVAs is a distinct advantage.
  • Good understanding of Funding, Liquity and Capital requirements for Global Markets.
  • Good understanding of accounting requirements for Valuation activity in Global Markets.
  • Good understanding and appreciation of Regulatory requirements and guidelines for Valuation activity.
  • Proven experience managing a team with diverse professional skills.
  • Proven ability in working across multi-disciplinary and multi-cultural diverse work environments.
  • Experience of interacting with internal and external stakeholder groups (Business, Risk, Internal and External Audit, Compliance, Regulators).

Qualifications:

  • Masters (or equivalent) graduate with experience in Product Control.
  • Chartered Financial Analyst (CFA) or CQF (or equivalent) qualified is a distinctive advantage

Please contact john.nestor@greshamhunt.com for more information