Valuation Controller - Non-GM Businesses

  • HSBC
  • London, UK
  • 10 Apr, 2018
Experienced Hires Corporate Banking Investment Banking / M&A Operations Other Finance

Job Description

Job description

The role of the Valuation Controller - Non-GM Businesses within Valuations Team in Product Control is part of Global Product Control and undertakes four main activities: Valuations, Global Valuation Reporting, Quantitative Analysis and Quantitative Infrastructure Development.

The candidate will report into the Head of Non- General Manager (GM) Valuations and will be responsible for improving, standardizing and managing the valuation processes for the Corporate Centre, Global Specialized Finance and cross-train with the rest of the team on other areas of Non-Global Market Businesses.

The individual will be responsible for calculating / coordinating and thoroughly review reserves related to monthly and quarterly Independent Price Verification (IPV), Fair Value Adjustment (FVA) and Prudent Valuation Adjustments (PVA) reserves.

Your Responsibilities Will Include

  • Responsible for the production / coordination and review of:
  • All IPV, FVA and Prudent Valuation balances;
  • All IPV and FVA methodologies and documentation;
  • Monitoring model restrictions and recommendations;
  • Levelling returns:
  • Answering to Business Risk and Controls Management (BRCM), Internal/External Audit queries
  • Implement recommendations deriving from Market Independent Model Review reviews
  • Engagement with Corporate Centre and GSF core Product Control to ensure that the valuation conclusions are accurately reflected in the books and that the communication with the business is seamless and consistent.
  • Keep up to date with any core Product Control production issues.
  • Responsible for the governance and controls of Valuation Policy and ensuring this is disclosed and ratified by the Valuation Committee meeting at least once a year.
  • Work with the Analytics team and individuals from within the Valuations Group Holdings and Business Leads to identify the need for, and implementation of, fair value adjustments.
  • Ensure Valuation Group FIM requirements and other applicable accounting / regulatory standards are met. Liaise with Internal/External audit and regulators where necessary.
  • Work to ensure consistency in policies/standards across sites/teams and implement strategies to improve consistency where it is not already in place.
  • Identify, communicate and drive resolution of issues; whether people, process or system.
  • Maintain focus on process optimization and identify opportunities to enhance cost efficiency where possible (e.g. automation, outsourcing, centralization etc.).
  • Support the Head of Non-GM Business with all aspects of hiring; budget considerations, interviewing and administration.

Customers / Stakeholders

  • Head of Non-GM Valuations;
  • Global Specialized Finance Office Business areas;
  • Holdings, Product Control;
  • Holdings, HSBC Bank plc - UK Bank / Retail bank (HBEU), HBAP Asset and Liability Capital Management (ALCM)
  • Fixed Income core Product Control;
  • Global Valuation Reporting;
  • Business Risk and Controls Management (BRCM), Internal and External Audit.
  • Market Risk

Leadership & Teamwork

  • Work with all other areas within PC Valuation Group.
  • Liaise and work together with key stakeholders.

Operational Effectiveness & Control

  • Maintain HSBC internal control standards, including timely closure of internal and external audit points together with addressing issues raised by external Regulators;
  • Understand and ensure compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the areas under management; specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy;
  • Ensure that there is full compliance with the Global Markets Functional Instruction Manual (FIM).

The ideal candidate for this role will have the below experience and qualifications:

Qualification

  • Masters (or equivalent) graduate with experience in Product Control.
  • Chartered Financial Analyst (CFA) or CQF (or equivalent) qualified is a distinctive advantage

Experience

  • Demonstrable track record in top-tier global bank.
  • Detailed knowledge of Valuations processes and proven experience of managing Product Control or Financial Process based activities.
  • Extensive market derivative knowledge in fixed income asset classes: Rates, Loans and Credit.
  • Experience of Fixed Income Models and Derivatives Valuation Framework (OIS Discounting / CVA / FFVA / TLAC).
  • Experience of developing methodology and shaping policy for IPV / FVAs is a distinct advantage.
  • Good understanding of Funding, Liquity and Capital requirements for Global Markets.
  • Good understanding of accounting requirements for Valuation activity in Global Markets.
  • Good understanding and appreciation of Regulatory requirements and guidelines for Valuation activity.
  • Proven experience managing a team with diverse professional skills.
  • Proven ability in working across multi-disciplinary and multi-cultural diverse work environments.
  • Experience of interacting with internal and external stakeholder groups (Business, Risk, Internal and External Audit, Compliance, Regulators).

Skills

  • Strong Analytical background.
  • Strong interpersonal, leadership and management ability.
  • Ability to build effective relationships at all levels of seniority through collaboration and influencing skills.
  • Outstanding communication and interpersonal skills, including the ability to articulate key valuation issues to Senior Stakeholders in a non-technical manner.
  • Set and achieved challenging short, medium and long term goals which exceeded the standards in their field
  • Excellent written and spoken communication skills; an ability to communicate with impact, ensuring complex information is articulated in a meaningful way to wide and varied audiences
  • Built effective networks across business areas, developing relationships based on mutual trust and encouraging others to do the same
  • A broad understanding of financial budgets/statements/models, with experience of analysing data effectively for planning, forecasting and reporting

The base location of this role will be London, 8 Canada Square.

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment.