XVA Independent Price Verification Lead
|Job Title:||XVA Independent Price Verification Lead|
|Salary:||£100000 - £125000|
|Contact Name:||Phillip Wood|
|Job Published:||January 27, 2017 18:16|
Sound financial principles are at the core of everything we offer. That’s why Finance is vital to the way we run our business. In a global marketplace that’s constantly evolving, being adaptable, decisive and precise is critical - and this is exactly the culture of our Finance group.
There are Finance teams dedicated to each of the Bank’s core banking divisions, as well as Group Tax, Group Finance, Treasury and Investor Relations. Together, we oversee all financial details , globally.
Join us and you’ll be able to add real value as a business partner. Of course, we provide accurate and timely financial information. We also provide high-quality advice and analysis to our businesses and infrastructure functions, measuring and analyzing performance and identifying areas to drive innovative change. This is a strategic group, where we look to control costs, limit risk and strengthen our decision-making process.
Finance is responsible for ensuring that, the financial and regulatory reporting is materially accurate and consistent with appropriate policies.
Global Markets (GM) Finance provides insight, analysis and challenge to the business for the Global Markets Business areas. This includes Fixed Income and Currencies (FIC), Equities, Emerging Markets Trading, Prime Finance and Structuring as well as Corporate Finance (Coverage and Global Capital Markets).
GVG (Global Valuation Group) is a centralised function of over 200+ professionals within Finance responsible for the independent valuation of balance sheet positions for the Global Markets.
As part of the firm’s Valuation Control process, GVG acts as a specialised function to ensure that the trading portfolios are independently priced at fair value. In addition, GVG acts as subject matter expert and internal advisor to other Finance teams on Valuation-related topics, providing independent supporting analysis. The staffing of the group is drawn from a wide range of backgrounds including risk management, sales and trading, academia, and accounting/product control.
GVG has a global footprint and is structured as a number of asset class-aligned teams and those aligned to macro valuation topics. The team acts as a global centre of excellence on valuation issues across the full suite of products traded by the Bank in the various locations.
The function is regularly engaged in meetings with the Front Office Trading and Quantitative Analytics, as well as other control and Finance teams, Market Risk, Model Validation to discuss and prioritise issues. Therefore the candidate must be able to communicate concepts both verbally and via documentation, to accountants, traders, quants and risk managers, and be able to defend or challenge their validity. This requires the ability to translate complex quantitative problems in simple terms for other less quantitative members of the business.
This specific role sits with the GVG XVA Methodology team and its scope includes the Independent Valuation Control process for XVA (Valuation Adjustments e.g. CVA, DVA, FVA, MVA, KVA, COLVA etc summarised as XVA) across the Global Markets, Non Core and Global Transaction Banking portfolio.
- Report directly to the Head of XVA methodology.
- In charge of a team performing the independent valuation control process for XVA.
- Maintaining a large number of stakeholder relationships across the organization, including Front Office, Risk, Model Validation and Finance.
- A subject matter expert ensuring that valuation methods and policies are enacted in accordance with fair value.
- Operating in a changing environment as the XVA encompasses a series of emerging valuation themes that require addressing.
- Working closely with the methodology teams to ensure model and marking appropriateness of the XVA.
- Ensuring that the governance framework provides the necessary information to Senior Management in GVG and Finance, in order steer the Group through the valuation challenges arising from XVA.
This requires a deep understanding of valuation principles, products, markets and models.
Skills & Qualifications:
- Degree standard education
- ACA / ACCA / CFA (part-) qualified or similar academic experience is desirable.
- Experience running a team or a strong desire to undertake this challenge.
- Good understanding of valuation control processes and relevant governance.
- The ability to tailor their communication depending on the audience involved (e.g. Senior Management, Quants, Finance) for these complicated valuation themes.
- Detailed knowledge of financial instrument valuation and risks measurement in a complex product area. In addition, working knowledge of derivatives pricing models and analytic libraries is useful. Cross-asset experience is desirable.
- Experience of working in a markets investment banking environment either in a quantitative, valuation, risk management capacity.
- Good understanding of Derivative Valuation Models—should be able to understand their workings intuitively and be able to communicate with quants on Model related issues.
- Experience of producing detailed analysis to demanding deadlines and clearly communicating the result to Key Stakeholders including senior management, wider Finance team, Front Office, Risk, Auditors and Regulators.
- You will also be a self-motivated, proactive and enthusiastic team player. You should have an enquiring mind and an analytical, yet practical, mindset in addressing and resolving issues. Good organisational and communication skills are essential, as is an ability to see the big picture and take pragmatic decisions.
You should also demonstrate that your approach is consistent with the firm’s Values and Beliefs
Get similar jobs like these by email
By submitting your details you agree to our T&C's