Valuation Control Global FXLM Lead

Finance

Posted: 09/11/2016

 

We are seeking an outstanding candidate to be the Global Lead for FXLM Valuation Control.

The Global Lead for FXLM Valuation Control is a critical and influential role. Price Verification (PV) is a key function within the bank and the team is a vital part of the Product Control organization. The goal for the Valuations Control team is to provide an exceptional quality analysis, while at the same time ensuring a robust control framework around the firm's inventory valuations.

This role requires significant technical understanding of the products traded within FXLM Business (and broad understanding of products traded across markets), including the models that are used. The individual in this role will be interacting with Senior Management within the Front Office and Risk Management and will be responsible for the implementation and maintenance of a strong governance framework and the application of consistent valuation methodologies across the FXLM business globally.

Excellent communications and negotiation skills are vital. The individual in this role will meet with internal/external audit and other regulators globally, on a regular basis. The successful candidate needs to demonstrate an ability to communicate complex ideas concisely and effectively. The role also involves ensuring global consistency and working with the Senior Product Control Managers across the various regions.

The successful candidate will be expected to develop and leverage a network of business relationships.

This is a position for an experienced, dynamic, technically-strong senior executive; who can manage all aspects of the role.

Job Background/Context:

The Valuation Control team is a cornerstone of the Product Control function. The function is organized into product-aligned teams including a dedicated Price Verification team. The product scope is comprehensive and includes a full range of security and derivative products.

The key responsibilities of the group are to perform the independent price verification for traded inventory, calculate market value adjustments and conduct new trade reviews.

The successful candidate will play a critical leadership role within the Global Valuation Control team and support the Global Valuation Control Head. They will act as the central point of contact for the Global FXLM Business head and will act as the main decision maker for FXLM Valuation Control globally.

There will be regular interaction with a wide variety of other functions within Markets and Banking globally and within the Global Product Control organization.

Key Responsibilities:

People Management and Leadership

* Strong leadership characteristics that enable the individual to maintain a clear structure of accountability across all aspects of valuation
* Developing skills within the team, identifying training and development areas for individuals
* Assisting with the setting of the team's agenda, direction, goals and objectives for the global FXLM Valuation Control Team
* Leading and guiding team in developing techniques in identifying pricing issues valuation parameters or instruments types that may require particular attention
* Promoting the team's development of innovative price testing methodologies globally
* Active role as part of the broader regional and global product control senior management team

Control Framework

* Accountability for Valuations MCA (Manager Control Assessment) control deign, effective operating and control escalation across the global FXLM business activity
* Ownership for driving systems and control improvements
* Accountability for all internal and external reviews, including regulatory
* Senior liaison with internal, external audit and regulators covering all aspects of valuation for FXLM
* Responsibility for reviewing and engaging on all valuation matters relating to the FXLM business

Reporting

* Ownership of all valuation reporting for the Global FXLM Business
* Ensuring consistency of price testing framework between products and across regions for FXLM
* Acting as the senior partner to the Business, Risk, Compliance and Finance in relation to valuation matters

Regulatory

* Senior point of contact with external audit and regulatory bodies, responsible for all aspects of valuation related reporting and controls
* Preparation for all Valuations regulatory and audit reviews

Development Value:

This is a senior hire for Finance with stretching objectives. The successful candidate will have be required to play a leadership role within the Global Product Control organization, by demonstrating a wide range of skills and the ability influence the bank's global pricing policy.


Qualifications
Knowledge/Experience:

* Extensive years of experience in a valuation, risk or product control related discipline
* Strong understanding of current global accounting and regulatory developments pertaining to valuation of financial instruments
* Ability to understand complex concepts and effectively challenge peers in Finance, Risk and the Business
* Strong communication skills, both written and oral
McGregor Boyall is an equal opportunity employer and do not discriminate based on race, religion, gender, age, sexuality, gender identification, or physical ability.