Head Of Valuation Control
My client is a successful FSA regulated fund manager, located in The City, overseeing the management of more than £60 billion in client assets. They are the first fully-integrated asset, liability and risk manager in the industry, combining the best-in-class asset allocation and management skills, financial risk management, liability modelling and actuarial capabilities, all within a single organisation. Products under management include government and corporate bonds, leveraged loans, ABS, CDS, credit index tranches, futures, IRS, forwards, inflation swaps, property derivatives, swaptations, equity index options and TRS.
Overall Purpose of the Job
- Establishing a fair value and accurate price for individual assets and the aggregation thereof to provide an assurance to all relevant parties as to the validity, independence, correctness and appropriateness of prices and methodologies.
- Review and sign off of key client reporting with particular relevance to asset values
Reporting Lines
Equivalent Line Management Positions:
Global Fund Accounting Manager
Head of Treasury
Line Management Responsibility for:
Senior Valuations Analyst (1)
Valuation Analysts (1)
Life Client Administration analyst (1) - see additional comments
Job Context
The Valuation Control team is responsible for:
- Independent price verification of all Level 1, 2 and 3 assets. The team are gate keepers of the actual price used to value our Assets and maintain the complex models used to value harder to price /illiquid assets.
- Oversight, governance and reporting, on behalf of the Life Company, of the processes relating to 1)
- Review and sign off of key client reporting in relation to asset values as set out in the various IMAs.
- Supporting the Life Client Administration function - see additional comments
Principal Accountabilities
- Managing the Valuation Control and Life Client Administration team
- Develop and maintain the required oversight and governance within the fund in relation to the adherence of Level 1, 2 and 3 assets ensuring the appropriate models that support are fit for purpose.
- In conjunction with Front Office develop an efficient and controlled environment over Front Office trading
- Research, development and maintenance of the Valuation and Independent Price Verification Policy (IVIPV) ensuring up to date at all time in relation to current practice and guidelines.
- Deliver, evidence and adhere to all requirements set out under the IMAs and Services Agreements including Valuation Services agreement on a timely and accurate basis
- Manage and implement controls over PL, IVIPV processes, Balance Sheet including reconciliation to the front office source systems. Sign off reports in relation to this.
- Design, review and deliver MI and Reporting in relation to Valuation Control and Client Administration
- Chair Valuation Forum and managing visibility of valuation as a discipline within the organisation
Job Challenges and Problem Solving
- Complexity and breadth of systems, contracts and IMAs requiring oversight
- Being required to be an expert in all aspects of valuations for exotic options to business valuations
- Continually challenge and motivate staff to ensure delivery of accurate and timely data and reporting
Job Knowledge, Skills Experience
- A and B grades results at A levels including mathematical subjects
- First or Upper second class degree or higher preferably in a mathematical area
- MSc Finance/Quantitative area (advantage)
- ACA or CIMA (or equivalent) with first time passes
Additional Comment
Life Client Administration is located in the Glasgow office. Line responsibility is intended to move to Head of Valuation Control( London based) following initial introductory period, commencement of cross training between the teams and the relocation of the Glasgow based role; Life Client Administration analyst.
My client offers exceptional benefits and a highly competitive compensation package. If you are interested in this role then please reply to this advert with an up to date copy of your CV or contact me on 0207 469 8955.
To find out more about Huxley Associates, please visit www.huxley.com.
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