Pricing Controller – Team Lead recruitment
This new team will provide governance over the independent pricing and reserving production work performed by Financial Control.
Finance has ultimate responsibility for the accuracy of valuations feeding the ledger. As such Finance need to be satisfied that the valuation models used across the organisation feed correct valuations and that appropriate reserves have been taken to provide against uncertainty in these valuations.
The IPV (Independent Price Verification) team, within GPU Asia perform a technically challenging role in Finance, requiring a solid understanding of the bank's Finance infrastructure; cross-asset product knowledge, from both risk and pricing perspectives and an up-to-date knowledge of market practice, conditions and the regulation thereof.
The team's responsibilities include:
- Undertaking daily Independent Price Verification (IPV) for the flow businesses (Rates, Fx and Credit in all Asia markets).
- Produce formal value added commentary and analysis to facilitate periodic discussions with BUC, Front Office, Market Risk and other GPU specialists.
- Closure of any testing gaps and material IPV variance identified in the course of undertaking IPV
- Devising appropriate methodologies where independent reference levels are not available
- Leveraging Front Office pricing models and adopting these for IPV purposes using independent parameters
- Production and review of all relevant Reserving methodologies relevant to the businesses
- Review and assessment of quality and coverage data to adopt in Reserving processes
- Embedding a continuous improvement ethic in all practices
Further, there will be opportunity for the right individual to assist in the development and implementation of expanded analysis to provide increased challenge and assurance over the IPV process operated globally. These include:
- Develop and implement an IPV process leveraging collateral information to cover all asset classes globally.
- Identify alternative pricing and information sources and implement for use within the IPV process.
- Develop and implement additional valuation techniques to provide alternative ways of viewing independent data and desk marks.
- Develop and implement processes to identify and investigate higher risk positions such as concentrated holdings.
- Develop and implement techniques and metrics to measure liquidity and to provide a link to IPV work in this respect.
The individual will be required to establish collaborative working relationships at all levels, with both the business and support areas (e.g. Market Risk) as well as other areas, in order to provide an integrated and proactive approach to business development and facilitation
Only those with the relevant experience and a strong knowledge of Structured and Flow products need apply.