The Valuations Specialist provides accurate valuations, based on subject matter expertise and an in-depth understanding of the financial products/transactions/collaterals, market data /trends and valuation methodologies and recommends appropriate valuation risk mitigation strategies. Where the role incorporates control function responsibilities, the Valuations Specialist will provide an independent validation of the valuations, including the recommendation of appropriate valuation adjustments, where relevant, to ensure reflection of the accurate value of assets and liabilities in the financial books and records of the Bank. They will also contribute to the development of valuation control policies and/or methodologies, in line with applicable legal and regulatory frameworks.
Details of the Division and Team:
The Valuations team is a specialist group within Risk that independently challenges all aspects of the valuation of the Banks fair value balance sheet.
- Performance of monthly and intra-month Independent Price Verification (IPV)
- Ownership of fair valuation adjustments (reserves) and prudential valuation adjustments
- New transaction Day 1 observability and recognition decisions and IFRS leveling decisions
- Ownership of key elements of the Banks’ Pricing Model Controls including model reserves, model exception monitoring, Product taxonomy challenge
- Booking controls on exotic and structured transactions
- Client valuations and collateral valuations management
- Analysis and communication of key valuation uncertainty issues and risks to senior management.
- Valuations works closely with Finance, Trading, Strats, Market Risk Management and Model Validation throughout the Asia Pacific region and globally. This includes the businesses in the Asia-Pacific hubs: Singapore, Japan, Australia and Hong Kong, as well as the regional Asian branch network.
What we will offer you:
- A healthy, engaged and well-supported workforce are better equipped to do their best work and, more importantly, enjoy their lives inside and outside the workplace. That’s why we are committed to providing an environment with your development and well-being at its center.
- You can expect:
- Flexible benefits plan including virtual doctor consultation services
- Comprehensive leave benefits
- Gender Neutral Parental Leave
- Flexible working arrangements
- 25 days of annual paid leave, plus public holiday & Flexible Working Arrangement
- Your key responsibilities:
- The primary function of the role is to manage the model, methodology and Day 1 controls within the Valuations Asia-Pacific function. The team partners closely across all the Valuations functions and controls across businesses, asset classes and regions to support technical methodology topics.
- The candidate is required to demonstrate deep pricing, modelling, booking and risk comprehension of the products and markets across our businesses with an emphasis on exotic derivative and structured products. In addition, the candidate is expected to exhibit solid stakeholder and project management skills, and make decisions balancing commercial judgment with a robust valuation risk culture.
- Implement alternative model methodologies via reserves to address weaknesses in production models including use of alternative models, using alternative model settings and re-calibrating existing models
- Facilitate resolution of model usage exceptions across the region, partnering with business, quant, risk and model validation colleagues.
- Developing, implementing and reviewing valuation methodologies deployed across the valuation control spectrum (including Day 1, model, levelling, reserves, prudential valuation and independent price verification)
- Analysis of new exotic/structured transactions including dimensions of market data observability, xVA, reserves, model appropriateness and booking appropriateness.
- Implementing market data observability standards across the dimensions of Day 1 profit recognition, IFRS levelling and independent price verification methodologies. This includes active engagement with Strats to codify our methodologies and rule-sets in current and future systems architecture.
- Proactively improve methodologies, controls and processes through automation and optimising Singapore & Mumbai footprint.
- Liaise with Trading, Finance management, Market Risk Management, internal/external audit and regulators on technical methodology issues both regionally and globally across markets and businesses
Your skills and experience:
- High level of academic achievement, preferably from a mathematical / statistical / engineering / quant background. Further quantitative education desirable (e.g. Master of Quantitative Finance or equivalent)
- Ideally the candidate will have 5+ years of experience within the valuation/quant/technical middle office departments of a large investment bank with in-depth technical knowledge across a broad range of markets, products and asset classes
- Specific exposure to reserving, pricing, risk management and modelling aspects of global markets trading businesses is preferred.
- The individual should be highly motivated and have demonstrated an ability to work in a team. They should be able to work effectively under pressure, multitask and take a proactive approach to all aspects of the role. They should have an ability to devise creative solutions to issues as they arise while maintaining a strategic perspective.
- The candidate must be numerate, articulate and confident. Must be able to interact effectively with the trading staff and senior management. Good communication and organisational skills required.
- Practical experience of Excel-VBA, other coding applications (particularly Python), market data services and banking model libraries desirable.
How we’ll support you:
- Flexible working to assist you balance your personal priorities
- A culture of continuous learning to aid progression
- A range of flexible benefits that you can tailor to suit your needs
- Training and development to help you excel in your career