Credit Valuation Controller – NA VRG recruitment
Position Category: Finance/Accounting
Position Title: Credit Valuation Controller - NA VRG
Job Level: Manager
Location: USA - NY - New York
Education Required: Bachelors Degree
Position Description:
Morgan Stanley is seeking a strong Credit Valuation Controller for its Valuation Review Group (VRG). VRG is a high profile team within Morgan Stanley with a strong reputation for valuation control excellence and advanced product technical knowledge.
The team is responsible for all valuation issues in respect of their product areas, in particular, external price testing, valuation adjustment (reserving) methodologies, and reviews of both the valuation and modeling of significant new complex trades. The candidate will be specifically responsible for the following:
- Production and reporting of the monthly mark review to ensure positions are marked correctly in the firm's books and records. As many of the positions are illiquid, this requires working with both the Front Office quantitative team and Model Risk quantitative team within VRG to develop innovative valuation techniques
- Gaining a full understanding of the products traded by the desk and their marking/valuation adjustment methodologies
- Performance of documented reviews of the modeling and parameter mark review methodologies of significant new transactions for presentation to management
- Regular contact with Business Unit Controllers on a daily basis and in particular during the month end mark review process
- Interaction with the Business Unit during the monthly mark review process
- Project work as required on new systems and functionality enhancements
- Working with managers to improve efficiency by challenging processes and procedures
- Production and policy review regarding the firm's quarterly FAS157 accounting disclosure, as well as involvement in accounting issues regarding fair value treatment on an ad-hoc basis with the BU, BU controllers, Global Accounting Policy Group and external auditors/regulators.
- Ad-hoc assignments required for senior management where additional valuation reviews and product analysis. These may be due to BU/controller issues or CFO and board level requests.
Skills Required:
- Basic understanding of Corporate and Structured Credit products (eg. CDS, FTD, Tranches and risk parameters within, namely correlation and spreads). Strong enthusiasm to learn and develop their product and model knowledge within the context of an external price-testing role.
- Quantitative degree (Mathematics, Engineering, and Economics)
- Would ideally have additional Accounting or Finance related qualifications (CPA, CFA, etc)
- The successful candidate will need drive and determination in order to deliver effective valuation control. The candidate will be expected to work to tight monthly deadlines. Self confidence, good communication skills and a strong team player as it is important to interact successfully with other team members, management, the Business Unit and Business Unit Controllers.