Head of EMEA Spread Products Valuation Control

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • Citi
  • 26 Mar 19

Head of EMEA Spread Products Valuation Control

  • Primary Location: United Kingdom,England,London
  • Education: Bachelor's Degree
  • Job Function: Finance
  • Schedule: Full-time
  • Shift: Day Job
  • Employee Status: Regular
  • Travel Time: No
  • Job ID: 19001529


Description

Job Purpose:

We are seeking an outstanding candidate to be the EMEA Lead for Global Spread Products (GSP) Valuation Control.

Price Verification (PV) is a key function within Citi and the team is a vital part of the Product Control organization.  The goal for the Valuations Control team is to provide an exceptional quality analysis, while at the same time ensuring a robust control framework around the firm's inventory valuations. 

This role requires a technical understanding of derivative products.  The individual in this role will be interacting with Senior Management within the Front Office and Risk Management and will be responsible for the implementation and maintenance of a strong governance framework and the application of consistent valuation methodologies across the relevant businesses within Global Spread Products.

Excellent communications and negotiation skills are vital. The individual in this role will meet with internal/external audit and regulators on a regular basis. The successful candidate needs to demonstrate an ability to communicate complex ideas concisely and effectively.

The successful candidate will be expected to develop and leverage a network of business relationships.

Job Background/context:

The Valuation Control team is a cornerstone of the Product Control function. The function is organized into product-aligned teams including a dedicated Price Verification team. The product scope is comprehensive and includes a full range of security and derivative products.

The key responsibilities of the group are to perform the independent price verification for traded inventory, calculate valuation adjustments, perform FV levelling assessments and conduct new trade reviews. 

The successful candidate will play a critical leadership role within the EMEA Valuation Control team and support the Global Head of Spread Products Valuation Control. They will act as the central point of contact for the relevant EMEA business head(s) within Global Spread Products.

There will be regular interaction with a wide variety of other functions within Markets and Banking globally and within the Global Product Control organization.


Key Responsibilities:

People Management and Leadership
  • Strong leadership characteristics that enable the individual to maintain a clear structure of accountability across all aspects of valuation

  • Developing skills within the team, identifying training and development areas for individuals

  • Assisting with the setting of the team's agenda, direction, goals and objectives for the EMEA GSP Valuation Control Team

  • Leading and guiding the team in developing techniques in identifying pricing issues valuation parameters or instruments types that may require particular attention

  • Active role as part of the broader regional and global product control senior management team
Control Framework
  • Accountability for the relevant EMEA businesses within the Global Spread Products Valuations MCA (Manager Control Assessment)

  • Ownership for driving systems and control improvements

  • Responsibility for reviewing and engaging on all valuation matters relating to the relevant EMEA businesses within Global Spread Products
Reporting
  • Ownership of all valuation reporting for the relevant EMEA businesses within the Global Spread Products Business, including clear and effective presentation of results

  • Ensuring consistency of methodologies across the EMEA regions for the relevant businesses within Global Spread Products as well as contributing to global consistency initiatives

  • Acting as the senior partner to the Business, Risk, Compliance and Finance in relation to valuation matters
Regulatory
  • Senior point of contact with external audit and regulatory bodies, responsible for all aspects of valuation related reporting and controls

Development Value:

The successful candidate will be required to play a leadership role within the Global Product Control organization, by demonstrating a wide range of skills and the ability influence Citi's global pricing policy

Qualifications

Knowledge/Experience:
  • Extensive years of experience in a valuation, risk or product control related discipline

  • Strong understanding of current global accounting and regulatory developments pertaining to valuation of financial instruments

  • Ability to understand complex concepts and effectively challenge peers in Finance, Risk and the Business

  • Strong communication skills, both written and oral
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience

Qualifications:
  • A Bachelor's or Master's degree in any finance, economics or quantitative related subject.
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience

Skills:

Leadership and Management
  • Excellent people management

  • People development

  • Inspires and empowers team and individuals
Drives Value for Clients
  • Trusted partner, drive innovation by learning from others

  • Anticipates, demonstrates understanding of expectations and needs
Work as a Partner
  • Works collaboratively across the organization

  • Challenges self and colleagues to higher levels of performance

  • Treats people with respect
Champions Progress
  • Pushes for culture of high standards

  • Sets positive tone and inspires enthusiasm

  • Assists in executing the vision set forth by Senior Management and is responsive to changes in environment
Lives Citi Values
  • Sets the standards for the highest integrity in every decision

  • Has the courage to always do what is right and the humility to learn from mistakes
Delivers Results
  • Sets high standards and achieves performance objectives

  • Prioritizes and provides clear line of sight to most critical work

  • Sets clear goals and measures progress

  • Expects self and team to consistently meet/exceed expectations
Product Technical Knowledge
  • Excellent understanding of derivative products and different models used for valuation
Control Mind-set
  • Demonstrates a strong leadership and focus on control. Ensuring integrity of reporting and independence of controls.
Strong Influencing and Presenting Skills
  • Ability to communicate and deliver key messages to senior audience

  • Credible in front of regulators and external auditors

Competencies
  • Leadership skills

  • Control focused

  • Team Player

  • Self-Motivated and innovative

  • Ability to prioritize 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

  • Proven influencing and negotiation skills

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.

Valuing Diversity:
Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add values to decisions or actions and organisational success.

Citi is an Equal Opportunities Employer