Head of Valuation Control, Full-Time (f/m/d)

Job description

The position of Head of Valuation Control involves leading the Valuation Control team within Product Control. The primary responsibilities include overseeing valuation governance, independent price verification (IPV), valuation adjustments, and fair value controls.

Tasks

The role of Head of Valuation Control includes:

• Leading the Valuation Control team within Product Control; overseeing valuation governance, independent price verification (IPV), valuation adjustments, and fair value controls
• Definition and implementation of the target operating model for prudent valuation adjustments (PVA), including methodology, governance, controls, data requirements, systems, reporting, and monitoring by senior management
• Lead the development and governance of additional valuation adjustments (AVA), including market price uncertainty, closing costs, financing and investment costs, unearned credit spreads, concentrated positions, future administrative expenses, and early termination
• Improving the Bank's Valuation Control Framework
• Evaluation of New Products as Part of the New Product Approval Process
• Development of a Comprehensive Fair Value Framework
• Providing senior-level oversight of valuations for trading and treasury products, including derivatives, fixed income, interest rates, credit, foreign exchange, and structured instruments
• Ensuring robust, independent price verification through price testing, adjustments, valuation challenges, and escalation
• Providing an independent challenge to front-office pricing, models, assumptions, and methods
• Establishing strong governance through method reviews, control standards, documentation, approvals, and reporting

Requirements

The successful candidate should be an experienced valuation control expert with strong technical expertise in financial instruments, valuation methods, valuation uncertainty, and regulatory expectations. The role requires strong leadership skills and offers independent challenges in front-office valuations and partnerships with finance, product control, market risk, model validation, front-office, regulatory reporting, and technology teams.

• Extensive experience in valuation control, including valuation governance, such as independent price verification, model risk, and closing costs
• Extensive knowledge of financial instruments, including interest rates, credit, foreign exchange, derivatives, fixed-income securities, and structured products
• Experience in challenging valuation models, assumptions, inputs, and outputs in collaboration with the front office and model validation teams
• Thorough understanding of regulatory requirements (IFRS 13, Basel, EBA) regarding fair value and valuation controls
• Ability to design and improve evaluation frameworks, governance, reporting, and system-based controls
• Strong data and technology skills, with the ability to drive automation and process improvements
• Programming skills (Python, SQL, or similar) are preferred
• Excellent analytical and communication