Rates Valuation Control IPV
Rates Valuation Control (IPV)
Great opportunity for an experienced Rates IPV Manager / Rates Valuation Control Manager to join a tier 1 Investment Bank.
Valuation Control is a global group within Product Control whose primary responsibility is to ensure that risk portfolios are fairly valued in accordance with applicable standards and regulatory requirements. It highlights uncertainties in valuation and works with trading and quantitative groups to fully understand their impact on the desk’s level of pricing and any accompanying fair value adjustments. In addition, Valuation Control sets independent pricing and fair value policies and, in conjunction with other functions, participates in the approval of new products.
The core job is the continuous oversight of the books, understanding of products traded and of the risks that drive the valuation. The successful candidate will be working closely with traders and market risk across a full range of products.
• Perform daily oversight of valuation control (IPV) aspects of trading activity within the Rates business. This will require understanding positions the strategies of the desks as well as individual traders and analysing explaining the valuation risks being taken. Tasks include devising and maintaining and operating a price testing framework.
• Ensure valuation risks positions taken by front office are appropriately captured and communicated to key stakeholders.
• Ensure valuation adjustments applied reflect the price/model input parameter uncertainties and risks and that the valuations reported in the books are appropriately controlled and disclosed.
• Articulate the drivers of daily PL.
• Ensure frequent dialogue with traders, product controllers and market risk to ensure all relevant parties have a current understanding of positions, valuation and risk issues.
• Participate in the Model Risk Management framework.
Experience;
• Proven experience within Rates IPV.
• Proven financial experience within a complex multinational environment, specifically within front office facing finance or risk roles.
• Background in Product Control / Valuation Control.
• Strong knowledge of cash equities and highly desirable if this also includes exotic markets.
• Strong knowledge of a broad range of financial products, valuation methodologies and risk analysis using Greek sensitivities, simulations and other industry standard valuation techniques.
• ACA or ACCA qualified preferred.
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