Finance – Global Valuations Group, Equities (VP) recruitment
About Deutsche Bank
A Passion to Perform. It’s what drives us. More than a claim, this describes the way we do business. We’re committed to being the best financial services provider in the world, balancing passion with precision to deliver superior solutions for our clients. This is made possible by our people: agile minds, able to see beyond the obvious and act effectively in an ever-changing global business landscape. As you’ll discover, our culture supports this. Diverse, international and shaped by a variety of different perspectives, we’re driven by a shared sense of purpose. At every level agile thinking is nurtured. And at every level agile minds are rewarded with competitive pay, support and opportunities to excel.
Sound financial principles at the core of everything we offer. That’s why Group Finance is vital to the way the Bank runs its business. The global marketplace is constantly evolving. Being adaptable, deliberate and precise in action is critical to safeguarding shareholder value. Together, we oversee all financial details of Deutsche Bank, globally.
We provide real value as business partners. We focus on the control environment and assure accurate and timely financial information. In tandem, we provide high-quality advice and analysis to our businesses and infrastructure functions. We identify opportunities for meaningful challenge. That includes measuring and analysing performance. We also develop strategies that control costs, limit risk and strengthen our decision-making process.
Group Overview
The Global Valuation Group (GVG) is a specialist group within Finance that looks are the technical aspects of valuation to ensure the integrity and control over all aspects of the valuation of the Bank’s trading portfolios.
This includes:
- Performance of monthly and intra-month Independent Price Verification (IPV) of securities on Deutsche Bank’s books and records.
- Over-sight and development of valuation methodologies, model appropriateness and reserving issues.
- Analysis and communication of key valuation uncertainty issues and risks to senior management.
- Review of bespoke and structured trades.
GVG works closely with Finance, Trading and Market Risk Management throughout the Asia Pacific region. This includes the businesses in Singapore, Japan, Australia and Hong Kong.
Role Overview
The role is as senior and pivotal team member within the Hong Kong valuation group which is responsible for the banks regional Equity activities. The function itself ensures integrity and control over all aspects of valuation for CIB traded risk in the centre.
Being a senior role the candidate is required to demonstrate in-depth knowledge of Equity markets in both cash and derivative product, and to have solid understanding of other product groups given the scope of the desks wide trading mandate. The candidate is expected to bring solid stakeholder management and leadership skills in addition to infrastructural and product technical skill sets and to demonstrate the influencing skills needed to establish a solid commercial and valuation risk culture in partnership with senior stakeholders.
Responsibilities of the Role
- Senior member of regional equities team, principally located in Hong Kong.
- Management of client relationships across the region.
- Management of offshore service partner relationships.
- Continued Technical evolution of valuation risk and reserve methodologies.
- Oversight, review and critique of IPV results to ensure accurate marking of books on a monthly and daily basis. Escalation of issues to Finance Directors and Business management and Global Valuation Groups globally.
- Ensure consistent valuation and adjustments methodologies are adopted within the Global group.
- Ensure all aspects of valuation control are adequately documented for internal and external requirements.
- Proactively improve processes and methods including streamlining, automation and off-shoring of existing processes.
- Liaise with Trading, senior Finance management, Market Risk Management, internal/external audit and regulators on valuation issues as they arise.
- Assess adequacy of model controls to ensure ongoing validity including regular recalibration and parameter reviews.
- Critical appraisal of valuation and control concerns arising within New Product Approvals.
- Active role in development of global Bank valuation policies and standards and Asian implementation of same. Regular communication with Global GVG to ensure that Asia perspectives are adequately articulated.
- Requirement for some travel to establish technical and commercial relationships with stakeholders and better understand current processes and issues.
The team engages in a number of initiatives, ad hoc analysis and projects and it is expected that the applicant will be materially involved in this project-based work. Ongoing personal development will be both ‘on-the-job’, via specific in-house and external courses, and through and web-based product courses.
Key Experiences Skills
- High level of academic achievement, preferably from an accounting / mathematical / statistical / engineering / economics background.
- Ideally the candidate will have several years experience within the valuation/product control/middle office departments of a large investment bank with in-depth knowledge of equity markets.
- Additional background in interest rates, credit or fx markets would be highly valued.
- Specific exposure to reserving, pricing and modelling aspects of valuation control of trading businesses is preferred.
- The individual should be highly motivated and have demonstrated an ability to work in a team. They should be able to work effectively under pressure, multitask and take a proactive approach to all aspects of the role. They should have an ability to devise creative solutions to issues as they arise while maintaining a strategic perspective.
- The candidate must be numerate, articulate and confident. Must be able to interact effectively with the trading staff and senior management. Good communication and organisational skills required.
- Good working knowledge of Excel and possibly VBA, and hands-on experience of market data providers including Reuters, Bloomberg , ISMA and Markit.
Deutsche Bank is an equal opportunity employer who seeks to recruit and appoint the best available person for a job regardless of marital status, sex (including pregnancy), age, religion, belief, race, nationality and ethnic or national origin, colour, sexual orientation or disability.