New York, New York
May 24th 2019
This specific role is working in New York as part of the Independent Price Verification team (IPV) in GVG focused on the US Credit businesses covering complex credit products including but not limited to: structured finance, securitised, corporate bonds/loans, commercial real estate and credit derivatives.
The primary responsibility of the IPV team is to perform independent price verification and valuation across the Bank’s trading businesses.
Performance of monthly and intra-month Independent Price Verification (IPV) across multiple asset classes with a focus on complex credit products and derivatives.
Oversight and development of valuation methodologies, model appropriateness and reserving; independent modelling of transactions may be required.
Responsible for the valuation control processes for the Credit US businesses including but not limited to:
Leveling (i.e. Level, 1, 2 and 3)
Sourcing of market data and back testing.
Observability and analysis of results.
Analysis and communication of key valuation uncertainty issues and risks to senior management.
Disciplined valuation control process effective to internal and external standards.
Accurate reporting of results and communication to senior management in finance and trading.
Perform reviews to incorporate all relevant information to the valuation process including analysis of the transaction structure, the modelling and methodology adopted, available market data and/or any proxies considered appropriate, applicable reserves\valuation adjustments and any relevant regulatory, risk or accounting considerations.
Review and deep-dive analysis of Level 3 (i.e. hard-to-value positions), bespoke and structured trades.
Derive valuation methodology and IPV process relating to the New Product/Trade Approval processes.
Proactive to improve processes including streamlining and automation of existing processes.
Assist in testing and implementation of strategic valuation and risk platforms
As an important control function, GVG works closely with all areas of the Bank including Front Office, Finance, Middle Office, Technology and Risk Management.
Detailed knowledge of financial instrument valuation and risks measurement in a complex product area, preferably in credit or derivatives.
Relevant experience in a specific or multiple asset classes such as: credit, structured or derivatives area (i.e. rates, options, exotics).
Experience of working in a markets investment banking environment either in a valuation, risk management or front office (i.e. trading\structuring) capacity.
Experience of producing detailed analysis to demanding deadlines and clearly communicating the results to senior management.
Experience in valuation using Intex or discount cash flow modelling an advantage
Conceptual thinking and innovation, challenges traditional thought process and encourages better ways of working.
Team player with positive attitude and work ethic but can work well independently.
Ability to create structure in a sometimes unstructured environment.
Good oral and written communication skills.
Ability to communicate complex topics and issues to management in an effective manner.
Good at working with others and building solid relationships.
Ability to challenge the status quo and can think ‘outside the box’.
Flexible and proactive work style, with ability to work independently at times.
Strong personal ownership and ability to resolve issues independently.
Ability to lead in a project or initiative.
Good attention to detail; control minded.
Ability to multi-task and work under pressure
Maths, Sciences, Finance, Business or other relevant degrees preferred.
MS or higher education an advantage.
Post graduate finance related qualification (i.e. CFA or FRM) an advantage
Programming knowledge is preferred (e.g. VBA, C++, Python, etc.).
Job ID: A2357