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Manager, Valuations – Commodities – Toronto: Lead IPV and valuation processes for energy, metals, and more.
Shape TD Securities' commodity valuation controls; oversee teams, drive automation, and collaborate across finance and risk.
Work Location: Toronto, Ontario, Canada Hours: 37.5 Line of Business: Data & Analytics Pay Details: $96,900 - $136,800 CAD This role is eligible for a discretionary variable compensation award that considers business and individual performance. TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.
Position Overview
Within Controller & Chief Accountants in Finance, the Valuations & Product Control team supports TD Securities and is responsible for providing overall end-to-end accountability for the completeness, accuracy, and timeliness of Independent Price Verification (IPV) and Valuation Adjustment (VA) processes. Product Control is the primary point of contact on P&L, Balance Sheet, Attribution, Independent Pricing Verification, and Valuation Adjustments reporting and initiatives, exercising an in-depth understanding of the products, valuations, and risks of the business. The Commodities Valuations team plays a critical role in ensuring the integrity of financial reporting by leveraging robust market data sources, valuation methodologies, and quantitative techniques to validate the fair value of physical and financial commodity products across trading desks and businesses.
As a Valuations Manager covering Commodities, you will:
- Oversee and manage a team responsible for conducting IPV and valuation adjustment processes across commodities trading businesses, including energy and metals
- Ensure effective governance, financial control, and process efficiency in the delivery of IPV and VA, including observability analysis, broker and exchange price testing, curve and surface validation, and fair value hierarchy classification.
- Lead initiatives to enhance commodities IPV methodologies and tools to reflect evolving market conditions, product structures, liquidity profiles, and regulatory expectations.
- Build strong partnerships with commodities trading desks, market risk, finance, technology, model validation, and operations teams to ensure a sound understanding of valuation risks, price sources, curve construction, and modeling approaches.
- Act as a subject matter expert and escalation point for commodities IPV-related matters, providing leadership and guidance on valuation matters for exchange-traded, OTC, and structured commodity products.
- Provide oversight of documentation and internal control processes supporting IPV and valuation adjustment policy compliance, including methodology documentation, price source hierarchy, stale price assessment, and evidence of independent challenge.
- Contribute to the development and enhancement of automated tools, controls, and dashboards used in commodities IPV, valuation adjustments, market data quality review, and fair value reporting; advocate for technology-led improvements.
- Ensure effective response to internal and external audit, control partners, and regulatory inquiries related to commodities valuation controls, IPV methodology, data observability, and valuation adjustment governance.
- Monitor emerging trends and developments in regulatory valuation standards (IFRS 13, FRTB, OSFI guidelines) and assess their impacts on commodities IPV frameworks, fair value hierarchy conclusions, and valuation adjustment practices.
- Support new product assessments by integrating commodities valuation controls and IPV considerations early in the product lifecycle, including identification of independent price sources, model dependencies, liquidity considerations, and operational control requirements.
Job Requirements
- Strong knowledge of commodities products, including physical and financial energy, metals, commodity futures and options, swaps, forwards, structured commodity transactions, and commodity-linked derivatives.
- Prior experience in valuations, IPV, product control, market risk, or trading support within capital markets, ideally with direct exposure to commodities businesses.
- Prior experience leading or mentoring high-performing teams, with the ability to develop technical valuation capability and strengthen control discipline.
- In-depth understanding of fair value measurement, market observability, valuation adjustments, curve and surface construction, market data hierarchy, and financial reporting controls.
- Demonstrated success in leading or contributing to commodities valuation control change initiatives, methodology enhancements, market data improvements, and technology implementations.
- Strong stakeholder management skills, with the ability to collaborate and influence across trading, risk, finance, technology, operations, and model validation functions.
- Ability to manage multiple deliverables in a fast-paced, evolving environment, including month-end valuation controls, audit requests, methodology reviews, and new product onboarding.
Additional Information
Undergraduate or graduate degree in Finance, Accounting, Engineering, Mathematics, Physics, Computer Science, or other quantitative disciplines. Pursuit or completion of professional designation (CFA, CPA, FRM) is an asset. Experience with Python or other coding tools for financial analysis and process automation is a strong asset. Familiarity with valuation systems, market data platforms (e.g., Bloomberg, Refinitiv), broker/dealer price sources, exchange settlement data, general ledger (GL), and ERP systems. 7+ years of related experience, ideally with exposure to commodities valuation processes and related product control, risk, or market data control frameworks.
Work activities include a blend of highly collaborative activities and individual deliverables. Individuals are expected to be onsite 4 days a week. Colleagues may spend more or less days in office as required by the business line.
Who We Are
TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we strive to make every interaction, product, and experience remarkably human and refreshingly simple for over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to foster deeper relationships, ensure disciplined execution, and build a simpler, faster banking experience. TD is deeply committed to being a leader in client experience, that is why we believe that all colleagues, no matter where they work, are client facing. Together, we are reimagining what banking can be for our clients, colleagues and communities.
Our Total Rewards Package
Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical, and mental well-being goals. Total Rewards at TD includes a base salary, variable compensation, and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and reward and recognition programs. Learn more
Please be advised that this job opportunity is subject to provincial regulation for employment purposes. It is imperative to acknowledge that each province or territory within the jurisdiction of Canada may have its own set of regulations, requirements.
Colleague Development
If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities. If you’re passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact. We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best.
Training & Onboarding
We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role.
Interview Process
We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.
Accommodation
Your accessibility is important to us. Please let us know if you’d like accommodations (including accessible meeting rooms, captioning for virtual interviews, etc.) to help us remove barriers so that you can participate throughout the interview process.
Language Requirement (Quebec only)
Sans Objet