The Valuation Control Group (VCG) is an independent global group within Product Control responsible for reviewing and reporting fair value inventory and CCV positions consistently across all asset classes.
VCG is organized along business lines and clients of the group include Business Heads, Line Product Control, Market Risk, Model Risk, Compliance, Legal Department, Middle Office, Internal Audit, external audit firms and the regulatory bodies in countries impacted by Citi’s footprint. VCG collaborates closely with its client base to ensure complete understanding of business valuation issues and accurate execution of valuation control policy.
The successful candidate will supervise the Collateral and Client Valuation Control business from a global valuation perspective and will be expected to have hands-on involvement as well as supervisory responsibility.
We are seeking a highly motivated candidate to work within the Valuation Control Group as senior analyst across a number of asset classes related to Collateral and Client Valuations (CCV).
The candidate must have a strong understanding of the valuation of financial instruments, implementing/maintaining an effective control framework, along with regulatory developments and global account standards that impact financial valuations.
The role will cover valuation control of the global CCV inventory and will require strong communication skills and teamwork across multiple locations and departments.
Due to the technical nature of the role and the high-volume nature of the business, the successful candidate will demonstrate an aptitude in discussing the technical aspects of valuations to pose a credible challenge to the business.
- Responsible for working across Product Control, Risk and Operations (Market Data/Collateral/Client Valuations) to perform IPV (Independent Price Verification) on the firm’s CCV inventory
- Responsible for all aspects of valuation control related to CCV, including validation of market data inputs, reporting and analysis
- Implement guidelines / procedures for price testing CCV, with particular attention to the design of control
- Develop alternate valuation methodologies to value illiquid and esoteric securities ad assets
- Development of appropriate controls to effectively ensure compliance with Policies and Standards pertaining to valuation control
- Acting as first point of escalation with regards to any discrepancies and price variance threshold breaches
- Identifying pricing issues, valuation parameters or instrument types that may require particular attention with critical analysis of the valuation issues involved
- Coordinate with VCG stakeholders to ensure that all monthly reporting deadlines are met and required documentation is archived in compliance with reporting deadlines
- Assist in financial reporting related to Non FV securities.
- Active participation in valuation projects through significant involvement in the UAT workstreams.
- Keep up with the market developments and use the knowledge in reviewing fair value movements.
What we look for:
- 2+ years of experience performing valuation related analysis on a wide array of asset types including corporate and government bonds and secularized products (Agency MBS/CMBS and Non-Agency including CLO/CDO, RMBS, Esoteric ABS, and CMBS)
- Comprehensive understanding of financial markets and valuation methodologies applicable to the pricing of liquid and illiquid investments
- Strong understanding of and ability to perform discounted cash flow (DCF) analysis on hard to value assets
- Understanding of current global accounting and regulatory developments pertaining to valuation of financial instruments
- Strong quantitative and modeling skills
- Proficient in MS Excel; Programming experience is a plus
- General understanding of how collateral and lending works at a major bank
- Proven ability and experience leading a team, both onshore and/or offshore
- Excellent people management skills with the ability to lead, train and develop a team
- Understanding how to design and maintain a robust control framework
- Hands-on experience of implementing new or enhancing existing valuation methodologies
- A Bachelor’s or Master’s degree in any finance, economics or quantitative related subject would be an asset
- Work in a challenging area of the financial industry with one of the world's leading companies with exposure to variety of products, processes and controls
- Cooperation with a high quality, international, multicultural and global team
- Work in a friendly and diversified environment, appreciating differences in style and perspective and using them to add value to decisions leading to organizational success
- Management supporting balanced and agile work (flexible working hours, home office)
- Attractive benefits package (Benefit System, medical care, pension plan etc.)
- A chance to make a difference with various affinity networks and charity initiatives