Senior VP, Rates Valuations Control recruitment

The Emerging Markets business covers a wide range of interest rate and credit products in multiple growth markets.

Key Responsibilities:

The role is centered on:

Independent Price Verification (IPV), model calibration analysis and valuation adjustments of financial instruments, ensuring books and records are held at fair value. Inventory review covers a wide range from cash-priced products to more complex interest rate and credit derivatives.

Development of price testing methods and techniques to achieve best in class performance.

Proactive approach, actively seeking to identify valuation issues for investigation and resolution. Engaging Front Office (FO) and Risk in the discussion of valuation issues and reaching consensus. Escalation where appropriate.

Attendance and effective contribution at the monthly Product Valuation Working Group (PVWG) and Inventory Valuation Review (IVR) meetings.

Leading monthly price testing meetings with the FO at which regional/global FO heads are present.

Objective setting and performance appraisal of staff.

Development of effective working relationships with FO and Risk.

As part of the valuation control framework, PC is also responsible for leading the Product Valuation Working Group.

Additional Duties:

INVENTORY VALUATION CONTROL
Leading the team responsible for inventory valuation and control, which includes IPV, Model Validation, Valuation Adjustments, and Spread sheet Controls, and Fair Value Measurement. Works independently on moderate complexity issues with deliverables and schedules set by others.
CONTROL REPORTING
Leading the team responsible for control reporting, which includes appropriate Escalation, Audit and Control Improvement Points, Incident Reporting and SOX documentation and testing. Works independently on moderate complexity issues with deliverables and schedules set by others
SUPPORT CHANGE AND CONTINUOUS IMPROVEMENT
Ensure culture exists within team supervised which enables processes and procedures to be questioned. Understand and apply escalation routes into Continuous Improvement or Strategic Change groups. Active participation in Working Groups to review process and procedures.
STANDARDS, ISSUES AND ESCALATION
Analyse advanced issues and escalate significant complex issues to the next level.
RISK MANAGEMENT
Extend awareness of risks associated with the business supported and incorporate risk planning and mitigation into work.
CLIENTS
Work with clients to ensure appropriate prioritisation of issues.

Qualifications:

• Experienced manager in leading teams and managing people is essential. Excellent manager able to build, develop and motivate a team of high achievers.
• Highly numerate with excellent knowledge of fixed income products and emerging markets gained at a top tier investment bank.
• Good knowledge of risk and thereby the key drivers for valuation and PL. Good knowledge of best market practices.
• Excellent communication skills, able to articulate complex issues clearly and succinctly to senior management.
• Experienced with leading and driving change management.