Job Summary
Oversee the Valuation Control Team in covering Rates and XVA Products. To conduct the accurate and timely valuation of financial instruments, and establishment of valuation methodologies, monitoring of market conditions, and provision of valuation insights to support financial reporting, risk management, and business decisions.
Key Responsibilities
Strategy
• Lead Rates and XVA Valuation Control function
• Develop and maintain appropriate policies and procedures for IPV, bid offer reserves, model reserves, etc.
• Independently assess the valuation and associated uncertainty of assets and liabilities within business, specifically continuing the evolution and ensuring the integrity of the IPV and Fair Value reserving processes.
• Design, develop and evolve the methodologies to optimize the Prudential Valuation and stress Prudential Valuation framework. Ensure a robust PVA framework.
• Design, implement and maintain policies and procedures for calibrations of parametrized models.
• Do an independent review of Significant deals and be able to substantiate the Day1 P&L from the same.
• Conduct regular review of observability of the different market data used by Trading Desk in marking their books.
• Review & presentation of monthly valuation packs for Finance Committees and FO.
• Review the work for junior members of the team & ensuring the team follows robust controls and governance framework.
• Ensure back-ups are trained and created among team members.
• Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
• Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from team members and work in collaboration with risk and control partners.
• Research market best practice and keep abreast of the evolving issues e.g. XVA, IBOR Transition, etc. that affect the valuation of the Rates and XVA business.
• Mentor junior members of the team in their career aspirations
• Provide thought leadership and take accountability from Bangalore on different initiatives spanning – Technology (SABRE, Aspire, Razor, Stride), Regulatory (IBOR, ViR ).
Business
• Effectively manage relationships across departments and the desk.
• Ability to discuss, present and explain valuation results with senior business management
• Management experience
• To manage a business function, providing significant input to function wide strategic initiatives. Contribute to and influence policy and procedures for the function and plan, manage and consult on multiple complex and critical strategic projects, which may be business wide
Processes
• Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives. Provide thought leadership and take accountability from Bangalore on different initiatives spanning – Technology (SABRE, Aspire, Razor, Stride), Regulatory (IBOR, ViR ).
People & Talent
• Maintaining a pleasant workplace environment which is motivating and enables high performance within team.
• Monitoring people performance, providing timely feedback, performing annual and mid-year appraisals. (including people development, pipeline/skills monitoring, and training programs,)
• Manage leaves and attrition, create enough backup / cross trainings.
• Minimise dependency on key people by cross training and succession planning.
• Manage career and growth expectations of people.
• Leverage upon knowledge and skills sitting with other teams at same location or similar team sitting across the globe.
• Enable movement of people as and when required to manage resourcing across Product Control.
Key stakeholders
• Regular face off with Traders, Product Control Management, Regional finance team and various internal stakeholders within GFS.
• Act as a point of reference for team members and internal clients.
• Manage relationship with internal stakeholders, take regular feedback, anticipate and understand issues and escalate appropriately for timely resolution
• Manage strong relationship with support teams (IT, Operations and Risk) and bring synergies by interacting and integrating with cross functional teams
Skills and Experience
• Communication
• Financial Market Products
• Accounting
• Product Control
Qualifications
You are an experienced person in financial services and exposure to Trading desks, Product Control Management, Regional finance team and various internal stakeholders
We want to hear from you if you have:
• Masters in quantitative discipline or a similar qualification and/or professional qualification (e.g. CFA, FRM) is preferred.
• Minimum 12+ years’ experience in a Valuation Control function, Product Control Line, risk management or trading role of a top tier investment bank.
• Robust experience in a Rates Valuation Control function, risk management or trading role of a top tier investment bank.
• Experience and proven track record in dealing with junior and senior members of Front office, Line Product Control, Risk management teams across various locations.
• Proactive and assertive in identifying control or valuation concerns, challenging the Business and driving control improvement for their area.
• Strong financial product knowledge and attention to detail.
• Strong interpersonal skills and stakeholder management and ability to work independently to resolve unstructured problems. Team player.
• Strong communication skills and ability to present / explain complex issues in simple terms with stakeholders from Trading, Finance, Market Risk and IT across different levels.
• Proactive and assertive in identifying control or valuation concerns and driving control improvement for their area. Able to work under pressure to tight deadlines. Able to multi-task and prioritize own request
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.
Together we:
- Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
- Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
- Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
What we offer
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
- Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
- Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
- Flexible working options based around home and office locations, with flexible working patterns.
- Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
- A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
- Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.