Equity Derivatives Product Control Valuations recruitment
Equity Derivatives – Product Controller Valuations
As part of Shared Services, the CFO division is here to support the bank in its ambitious growth plans. We want to play an active role in helping Credit Suisse to achieve its vision of being the world’s premier bank. That’s why we have set ourselves the highest goal: To become the most admired CFO division in the financial services industry, renowned for the value and high quality of our information, advice, services and people.
We plan to meet this goal by putting clients, teamwork and reputation at the very heart of the CFO division as we pursue our mission to protect and enhance shareholder value by:
• Acting as guardian of the bank’s financial franchise
• Delivering valuable and high quality information, advice and services
• Optimizing the use of the bank’s resources
• Partnering across the bank to help clients thrive
Our success depends upon our ability and aspiration to share knowledge and expertise, irrespective of reporting lines or professional backgrounds. By collaborating with colleagues across Finance, we will reach an effective and consistent set of solutions to the challenges we face and provide new opportunities for our people to lead rewarding careers in the bank.
Product Control is the Financial Guardians of the Bank's sales and trading activities. We fulfil this role through:
- Ensuring complete, accurate and timely PL, Balance Sheets and analysis.
- The independent validation of the value of our trading portfolios.
- Working with the businesses and the new business product groups to evaluate and integrate new products and businesses into our financial environment in a controlled manner.
- The provision of reliable and meaningful financial information to the business managers, external stakeholders and other relevant internal constituents.
Credit Suisse
As one of the world's leading financial services groups, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Founded in 1856, Credit Suisse has a long tradition of meeting the complex financial needs of a wide range of clients, offering advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally. The Credit Suisse Group is active in over 50 countries and employs approximately 50,000 people. Further information can be found at credit-suisse.com.
Your skills and qualifications will ideally include:
This role provides opportunites for:
o management/supervisory experience
o great opportunities to initiate and implement process change, or solutions to valuation issues
o cross functional exposure, including risk functions (SRM, VRG) and model validation function (GMAG), as well as FO.
o Qualifications
o University degree 2:1 minimum (preferably in finance, or mathematics)
Desirable qualifications: ACA, CFA or CQF
- Experience and Background:
o Exposure to derivative valuation governance, with 4+ years experience
o Knowledge of derivatives product valuation techniques, including exotics
o Experience in calibrating modelling approaches to market data
- Desirable experience includes:
- Product control function
- Equity Derivatives products
- Fund Linked products
- Accounting: Fair Value Measure policies under US GAAP
Good knowledge is required in the structured derivative products; Good knowledge in the Equity Derivatives and FLP business is highly desirable.
Your main responsibilities will involve:
This current role resides with the Technical Focus Group (TFG) in Equities Product Control. It is the Valuation Control stream within Product control.
It is responsible for:
- Establishing price testing methodologies;
- Reviewing valuation adjustment methodology, including but not limited, to OPA and model adjustment;
- Tackling the top valuation issues within the business area globally;
- Performance of detailed analysis that supports the core valuation governance processes including:
- Inventory Valuation Review (IVR) where material valuation and price testing topics are discussed
- Product Valuation Working Group (PVWG) where model validation and other model type issues are addressed.
Remit of this role is across all of Equities, but focused mainly on Equity Derivatives and Fund Linked Products;
- Driving process improvements in the valuation space.
The core responsibilities of the individual role include:
Develop price testing procedures for risks within the equity derivatives and Fund Linked Product (FLP) businesses. Calibrate proposed pricing and modelling for new products to market information available, and recommend on-going price testing procedures and impact actionability thresholds.
Conduct deep dives on existing price testing processes, highlighting concerns to management with recommendations for improvements.
Review of significant unobservable parameters. Generating contextual analysis to indicate range of accuracy around fair value.
Develop valuation and exit adjustment methodologies to ensure the portfolio is held at an exit level.
Performance of analysis around significant valuation issues to help forming PC views, working with other parties to achieve solutions (such as FO, Valuation Risk Group (VRG), Global Modelling and Analytics Group (GMAG)).
Review new product requests, ensuring technical aspects of controlling the business are covered. This includes price testing, review of valuation adjustments and exit costs.
Driving process improvements in the valuation space.
What we will be looking for in you:
• Challenge the status quo and bring new ideas to drive process improvements.
• Ability to drill into and resolve complex problems and issues
• Strong written and oral communication skills and be able to choose appropriate communication media for the subject and target audience
• Outstanding organisational abilities it takes to continuously deliver high quality work, even in high pressure situations.
Contact:
Right place, perfect opportunity
credit-suisse.com/careers
Cultural diversity is essential to our success. As such, we employ people from more than 100 countries. Credit Suisse empowers employees to work openly and respectfully with each other and with clients, ultimately striving to deliver superior results while offering initiatives and programs to assist employees achieve a healthy work-life balance.
Credit Suisse is an Equal Opportunity Employer and does not discriminate in its employment decisions on the basis of any protected category.
To the extent permitted or required by applicable law, a candidate who is offered employment will be subject to a criminal record check and other background checks before the appointment is confirmed.