VP, EMEA Credit, Distressed and Mortgage Independent Price Verification Manager recruitment
Additional components of valuation control function, include, (but are not limited to): Valuation adjustment policy. Classification of inventory within fair-value hierarchy. Resolution of counterparty valuation disputes. Providing expert opinion as part of new business initiative approval.
EMEA Function comprises 14 dedicated professionals, with responsibilities split between a dedicated reporting/ analysis function and an area of technical specialists (PVG). This specific role is within PVG.
PVG provides an independent valuation opinion across the spectrum of Credits products ranging from vanilla products to the most complex products, The group leverages its quantitative skill set and product expertise to act as a guardian of valuation methodologies. The PVG team works closely with groups outside the Finance function such as Trading desk, Model Validation, Risk Management, Credit Quants Group.
Responsibilities - Role primary function
Roles is as a products/ markets expert within Credit, Distressed Mortgages PVG team (5 people in EMEA) with specific focus on corporate credit products and derivatives based on these underlyings. Primary functions of the role are as follows:-
- As part of the monthly independent pricing cycle.
- Act as key contact for calculation/ validation of “synthetic” market data used in independent pricing process .(e.g. model dependent credit correlations for tranche basket products, Credit volatilities for option products)
- Act as point of escalation for difficult to price assets
- Identify and resolve potential pricing discrepancies and provide a valuation summary assessment to Senior Management
- Provide oversight over applicatio Produce relevant, succinct documentation on methodology/ results around difficult to price items
- Provide timely, complete analysis of root-cause for resolution of counterparty where material issues escalated to the PVG group.
As part of repeatable/ resilient control agenda:
- Provide the job training for other team members.
- Continue to develop policies/ procedures to formally raise knowledge level within formal team.
- Assist in development of resilient, repeatable process for testing “hard to price” items and facilitating responsibility for application of testing methods to the reporting/ analysis team
- Work within the broader team to ensure that adopt best practice within function.
Given the business focus and analysis performed around the balance sheet, there are a set of aligned tasks that support broader valuation control agenda and financial reporting requirements, these include, but would not be limited to:-
- Definition of methodology for L3 classification of inventory under FAS157 oversight of Finance application.
- Definition, documentation of methodology for valuation adjustments oversight of Finance application.
- Contribution/ input into “best practice” data sources and procedures
- Contribution into new business/ new product sign-off.
- Contribution/ input into new process design.
- Contribution/ analysis around system/ analytic migration.
Strong performance in this role should provide significant personal growth. Dependent on skills of individual and opportunities within the firm, future potential career opportunities could include:- Management role within PVG team.
- Lateral movement to an alternative product area within PVG
- Lateral movement to reporting and analysis of business unit finance
- Management role within PVG team.
- Lateral movement to an alternative product area within PVG
- Lateral movement to reporting and analysis of business unit finance
- International opportunities exist
- Trading, Risk Management
Requirements:
Essential:
- Demonstrated quantitative skills used in trading, pricing and risk managing financial instruments
- Demonstration of a deep understanding of credit products from practionners perspective.
- Proven spreadsheet skills/ VBA skills.
- Evidence of ability to manage large sets of data
- Ability to multi-task and deliver to deadlines
- In addition, the following competencies and personal qualities will be used to differentiate applicants for the role.
- Demonstrates ownership/ accountability
- Exercise appropriate judgment
- Quality goal focused
- Analytical skills to condense conclusions from complex issues/ detailed work
- Build effective relationships
De
Desirable
• Previous experience within control/ reporting function with exposure to Structured Credit products
• VBA/ Macro skills