My client, a leading Investment Bank is looking for a VP level individual to lead the Global Macro (Fixed Income- FX/Rates) Team for their IPV/Valuations Group. With the production off-shored this is much more about close liaison with the trading desks and senior management
You must have a strong understanding of current global accounting and regulatory developments pertaining to valuation of financial instruments, along with a strong understanding of implementing/maintaining an effective control framework.
The role will cover valuation control of the entire inventory held within the EMEA business for the Global Macro team and will require strong communication skills and teamwork across multiple locations and departments.
Due to the technical nature of the role and the high-volume nature of the business, it is important that you are able to demonstrate an aptitude to succeed in learning the technical aspects of valuations, in order to pose a credible challenge to a growing business.
The Valuation Control Group is an independent global group within the wider Product Control Group responsible for reviewing and reporting fair value inventory consistently across all asset classes.
The team is organized along business lines and clients of the group include Business Heads, Line Product Control, Market Risk, Model Risk, Compliance, Legal Department, Middle Office, Internal Audit, external audit firms and the regulatory bodies in countries impacted by the bank's footprint. VCG 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 supervise the business from a valuation perspective within EMEA and will be expected to have hands-on involvement as well as supervisory responsibility.
- Responsibility for all aspects of valuation control of the business, including validation of market data inputs, reporting and analysis
- Producing and implementing guidelines / procedures for fair valuation adjustments and price testing across the business, with particular attention to the design of control
- Ensuring timely remediation of regulatory matters requiring attention, audit findings and associated reporting demands associated with the area of responsibility
- Development of appropriate controls to effectively ensure compliance with Policies and Standards pertaining to valuation control
- Acting as first point of escalation with regards to any discrepancies and price variance breaches
- Identifying pricing issues, valuation parameters or instrument types that may require particular attention with critical analysis of the valuation issues involved
- People Management and Leadership
- Strong leadership and accountability for the Global Macro team valuations
- Acting as a business partner to the Business, Risk, Compliance and Finance
- Managing / developing offshore team
- Control Framework
- Enhancement and effective management of the VCG control and governance framework associated with the relevant asset class
- The successful candidate will have the opportunity to play a leadership role within their Valuation Control team
You will have
- 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
- Proven ability and experience of leading a team, both onshore and/or offshore
- Ability to manage time and work priorities efficiently and effectively
- Ability to perform within a time pressurized environment
- Understanding how to design and maintain a robust control framework
- Solid understanding or appreciation of derivative valuation methodologies in at least one Asset class. Cross asset class knowledge is preferred but in-depth knowledge is expected in at least one area.
- Solid understanding of cash and derivative markets for at least one asset class and an appreciation of risk-management and hedging practices in this space by sell-side firms. Knowledge of over-hedging techniques for derivatives is viewed favorably.
- Hands-on experience of implementing new or enhancing existing valuation methodologies. Working with other stakeholders in driving change.
- A strong understanding of accounting for fair-valued instruments, with a focus on complex / exotic derivatives
- Excellent people management skills with the ability to lead, train and develop a team
- Ability to communicate effectively, both written and verbal
- Hands-on. Must have a good eye for detail, but also be able to communicate to seniors in a succinct/clear fashion
- A proven track record of execution Leadership skills
- Ability to work well in a teams (actual and matrix)
- Ability to influence individuals outside of core management hierarchy
- Self-motivated and innovative
- Ability to prioritize to ensure deadlines are met
- Excellent interpersonal skills – able to deal with a range of senior/junior staff across a number of disciplines
- 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