Credit Valuation Controller

Credit Valuation Controller

London/Hybrid

6-12 month contract

£834.81 p/d Umbrella

If you’re looking for a career that will help you stand out, join HSBC, and fulfil your potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further. We are currently seeking an experienced individual to join this team in the role of Credit Valuation Controller.

Role purpose:

• The Global Valuations and Analytics Group is part of Global Product Control and undertakes four main activities: Valuations, Global Valuation Reporting, Quantitative Analysis and Quantitative Infrastructure Development. Valuation activity covers Independent Price Verification (IPV), Fair Value Adjustments (FVA), Prudent Valuation Adjustments (PVA) and Fair Value Hierarchy (FVH) processes.
• The role is within the Credit Valuations team, reporting into the Global Methodology Lead for Structured Credit Valuations, based in London.
• The role holder with be a SME with responsibilities split across the Global Private Credit and ABS businesses for FVA, PVA and FVH processes
• For the Private Credit business, the focus will be on the secondary loan trading, distressed credit and private equities portfolios. In addition to the standard processes, it will require in depth analysis and bespoke valuations at trade/position level for FVA and PVA. An understanding of credit and private equity valuation techniques would be an advantage and the ability to discuss these techniques with the trading desk in detail.
• The ABS business trade a number of ABS related products through the secondary market, the role will support both the Flow and Legacy business for FVA and PVA.
• The role holder will have to balance independent working, and appropriate escalation to management. The role holder will need to independently drive conversations on valuation with key stakeholders across the Front Office, Risk, Quants and within Valuations and Analytics. The Credit Valuations team operates as a global team, so the role holder will need to ensure appropriate engagement with colleagues in other regions, in order to deliver efficiently and consistently.

Accountabilities:

• Drive the methodology and implementation of FVAs, IPV and PVA changes, keep abreast of industry information around this important asset class, engage the business on all matters regarding valuations and be a key contact for internal and external audit.

• Work to ensure consistency in policies/standards across sites/teams and implement strategies to improve consistency where it is not already in place.

• Responsible for the production of:

1. IPV, FVA and Prudent Valuation (PVA) balances

2. Methodologies and documentation;

3. Monitoring model restrictions and recommendations

4. Levelling returns.

• Engagement with Europe Credit 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.

• Ensure that the governance and controls of fair value is adhered to. Prepare for and contribute to the valuation committees that opine on fair value for the business areas concerned.

• Ensure Valuation FIM requirements and other applicable accounting / regulatory standards are met. Liaise with Internal/External audit and regulators where necessary.

• 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).

Drive standardization and streamlining of processes

Experience / Knowledge:

• Detailed knowledge of Product Control Valuations processes and proven experience of managing Product Control, Valuations or Financial Process based activities.

• Market derivative knowledge in Credit asset class

• Experience of Distressed Credit and Private Equity valuations

• Graduate degree, with experience in Product Control or Valuations.

• Demonstrable track record in top-tier global bank.

• Experience of developing methodology and shaping policy for IPV / FVAs is a distinct advantage.

• Good understanding of accounting requirements for Valuation activity in Global Markets.

• Good understanding and appreciation of Regulatory requirements and guidelines for Valuation activity.

• Proven ability in working across multi-disciplinary and multi-cultural diverse work environments

• Experience of interacting with stakeholder groups (Business, Risk, Internal and External Audit).

Skills:

• Strong Analytical background.

• Strong interpersonal, leadership 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.

• Microsoft Office Suite, VBA and SQL

If you think you are up for the task and feel you meet the above criteria or interested to hear more information, please contact me on Amy.walker@tapfin.com

Please note, in the event of a high volume of applications for this role, we will not be able to respond to each individual applicant. Unfortunately, if you have not been contacted within 7 days then we will not be progressing with your application. Thank you for your understanding

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