AVP/VP - Valuation Control, Rates
London, United Kingdom
The role is part of the Rates Valuation Control Group (VCG) team in London.
VCGs primary responsibility is to reasonably ensure that risk portfolios are fairly valued in accordance with applicable standards and regulatory requirements. VCG works with trading and quantitative groups to fully understand the impact of valuation uncertainty on the desks level of pricing and any accompanying fair value adjustments. The team also participates in the approval of new products, where appropriate.
The Valuation Control Group (VCG) is an independent group of subject matter experts in Product Control within the Finance Division.
VCG is organized along business lines and clients of the group include Desk Heads, Line Product Control, Market Risk, Model Validation, Compliance, Legal Department, Middle Office, Internal Audit, external audit firms, and regulatory bodies in countries impacted by Citis footprint. VCG collaborates closely with its client base to ensure complete understanding of business valuation issues and accurate execution of valuation policies.
- Performing valuation control processes for various Rates businesses, including independent price verification, valuation adjustment calculations/reviews, fair value leveling, as well as reporting and analysis
- Acting as a reviewer and first point of escalation for valuation control processes, policy and regulatory breaches
- Addressing valuation issues across a wide range of Rates products (vanilla and complex products)
- Designing and implementing valuation adjustments and price testing methodologies
- Ensuring particular attention is given to the design of controls
- Identifying pricing issues that may require special attention with a critical analysis of the risks involved
- Organizing and leading valuation meetings with Business Functions, Risk, and Product Control counterparts
- Ensuring high quality process documentation is in place on an ongoing basis
- Complying with the EBAs Regulatory Technical Standards on Prudent Valuation for the legal entities in scope
- Actively participating in VCGs strategic projects enabling price testing automation
- Completing any other tasks (relating to the organizations activity but not detailed in the job description) assigned by the manager, supervisor, or functional head
- Exposure to a number of different cash and derivative products
- In-depth understanding of pricing and price verification approaches for various derivative products
- Understanding accounting standards relating to fair value reporting for derivatives
- Understanding the regulatory impact on valuation and pricing
- Developing a control focused mind-set with strong process improvement capabilities
Knowledge and Experience:
- Experience in a relevant field of Finance (preferably Valuations, Risk, Product Control, or similar functions)
- Knowledge of and experience with capital markets products (Equities, Bonds, Commodities, FX, Options, Swaps, Futures, Forwards)
- Strong computer literacy, with special regards to Microsoft Excel
- Knowledge of Microsoft Access, VBA, SQL, or Python is a plus
- Exceptional candidates may be considered for the role even if not all requirements are met
- Ability to apply theoretical knowledge in a practical environment
- Ability to interpret and analyse large-volume and at times complex information
- Ability to motivate and develop team members
- Strong process improvement capabilities and track record
- Ability to translate previous experience into a high level of independence at work
- Strong verbal and written communication skills across functions and levels
- Good stakeholder management skills
- Attention to detail and control-focused mindset
- Critical thinking
- Good prioritization and time management skills
- Ability to break down complex problems into bite-size pieces
- Fluency in English
University or College degree in economics, finance, mathematics, or a similar relevant discipline
- Ability to work well in a teams (actual and matrix)
- Ability to influence individuals outside of core management hierarchy
- Self-motivated and innovative
- Ability to prioritize to ensure deadlines are met
- Excellent interpersonal skills able to deal with a range of senior/junior staff across a number of disciplines
Time Type :
Citi is an equal opportunity and affirmative action employer.
Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.
Citigroup Inc. and its subsidiaries ("Citi) invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity CLICK HERE.