Valuation Controller
- London, Greater London (GBR)
- £642.16 - £671.06 Per Day
- 9 Months
- Start date: ASAP
- 2 positions available
- Ref: HSBCJP00046617
- valuation
- product control
- regulatory requirements
Valuation Controller
London/ Hybrid
£642.16/ Day
Contract Ends 29/12/2023
Our client HSBC are currently seeking an experienced Valuation Controller to join their team in the London office/remote working, this contract will until the end of the year with a review to be extended.
Role Purpose
The Valuations and Analytics Group in Product Control is a global team responsible for all aspects of the calculation of fair value for traded instruments in Global Markets and additionally undertakes oversight and support for fair value calculations across the rest of HSBC Group (predominantly Global Banking and Corporate Centre). The Valuations and Analytics Group is part of Global Product Control and is split into 4 main areas of (1) Quantitative Analytics including Models (2) Fair Value Methodology (3) Production, and (4) Reporting, Governance & Analysis.
The role of Valuation Controller Non-MSS sits within the Product Control Structure. The individual will support valuations for one of the Non-Global Markets businesses, specifically the Markets Treasury business. The individual will establish new IPV processes within the Markets Treasury business, undertaking specific project work, sourcing input data and performing initial calculations, as well as support BAU activities such as Fair Value and Prudent Value calculations. The role will also cover controls and governance of the newly-established processes.
The work will involve liaising with a wide set of stakeholders across the firm and across global locations. The role holder will have to balance independent working, and appropriate escalation to management. The role holder will need to independently drive conversations with key stakeholders across Product Control, the Front Office, Risk, and within Valuations and Analytics.
Principal Accountabilities
• Project work, specifically establishing new IPV processes within the Markets Treasury business. This will involve sourcing the input data, liaising with stakeholders, finalizing the methodology and ensuring appropriate controls and governance.
• Supporting the monthly calculation of existing Fair Value calculations for the Markets Treasury Business.
• Supporting the quarterly Prudent Valuation & Levelling calculations for the Markets Treasury Business.
• Ad hoc analysis for management or the business.
Customers / Stakeholders
• Senior stakeholders in Markets & Markets Treasury Business areas.
• Senior Valuation Controllers & PC Management globally across business classes.
• Risk & Front Office for Markets Treasury.
• BRCM, Internal and External audit.
Leadership & Teamwork
• Work effectively with the Non-MSS Valuations team and wider PC teams (local and other sites) as well as the business.
• Liaise and work together with key stakeholders.
Operational Effectiveness & Control
• Ensure that there is full compliance with FIM.
• Integrity, conduct and performance against ethical standards.
• Target zero operational incidents.
• Streamline processes to improve productivity and reduce complexity
• Prompt resolution of issues and management queries related to the relevant product lines.
Major Challenges
• Senior set of stakeholders with wide dispersion across the Bank. These include stakeholders and business owners of a number of separate businesses within Markets & Markets Treasury. Ability to communicate effectively with this set of individuals is key.
• Ensure the efficient and effective management of the IPV, FVA and PVA processes and to ensure that regulatory standards are met.
• Rapid response to issues as they arise. Ability to drive quickly to the heart of an issue and propose appropriate solutions.
• Relationships within and around Product Control within HSBC.
Role Context
• This is a key role that covers valuation processes in an area of strategic importance to HSBC. This role will run considerable adjustments to the P&L.
• The role will be responsible to help set up centralized and standardized valuation processes for Non-Global markets businesses.
• The size and high visibility of the products combined with the diversity of stakeholders involved make this a rewarding role.
Management of Risk
• The role requires an understanding of as well as compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the job holder is involved. This includes internal controls and any compliance policy including, inter alia, the Group compliance policy.
• Be aware of the operational risk context associated with the role and act in a manner that takes account of operational risk considerations.
Observation of Internal Controls
• Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.
Knowledge & Experience / Qualifications
Qualification:
Graduate degree, with experience in Product Control or Valuations.
Experience:
Demonstrable track record in top-tier global bank.
Detailed knowledge of Product Control Valuations processes.
Experience of working in valuations-related projects.
Experience of developing methodology and shaping policy for IPV / FVAs is a distinct advantage.
Understanding of accounting & regulatory requirements for Valuation activity.
Experience of interacting with different stakeholder groups.
Skills:
Strong Analytical background.
Ability to build effective relationships at all levels of seniority through collaboration and influencing skills.
Strong communication and interpersonal skills, including the ability to articulate key valuation issues to Senior Stakeholders in a non-technical manner.
Please also see below link to our HSBC Career hub:
https://jobs.elevatedirect.com/tapfin-hsbc/index.html
If you are relevant or interested please don’t delay, contact me on Curtis.Sharpe@Tapfin.com
