Valuations Specialist AVP

Job Description:Job title: Valuation Control – AVP Mumbai Valuation Methodologies teamCorporate title: Assistant Vice PresidentDivision: MVRMLocation: MumbaiOverview:Valuation Control (VC) is a centralised function of over 200+ professionals within Market and Valuation Risk Management (MVRM) responsible for the independent valuation of balance sheet positions predominantly across the Investment & Corporate Bank.As part of the firm’s Valuation Control process, VC acts as a specialised function to ensure that the trading portfolios are independently priced at fair value. In addition, VC acts as subject matter experts and internal advisors to other teams on Valuation-related topics, providing independent supporting analysis. The staffing of the group is drawn from a wide range of backgrounds including risk management, sales and trading, Quantitative analysts and accounting/product control.The Valuation Methodologies team (VM) is the quantitative, technical arm within VC. The VM team is responsible for the development of independent valuation methodologies used for periodically testing all the bank’s valuations. Moreover, VM are responsible for the periodic review and validation of all fair value adjustment (including model reserves and liquidity adjustments) and Prudent Valuation methodologies. VM own all the bank’s valuation related policies and ensure the bank’s valuation methodologies appropriateness and adequacy with respect to compliance with regulations, internal policies and accounting standards.This specific role is a senior role in the Mumbai Valuation Methodologies team, reporting directly to Mumbai Head of Valuation Methodologies (VM). The role will cover all asset classes and businesses.The VM team is structured by main asset class and risk type. The candidate will also have dotted reporting lines to the asset-class aligned VM, whom the Mumbai team will be supporting when required.The Mumbai VM team will particularly focus on the development and enhancement of Independent Price Verification (IPV) methodologies for all asset-classes. IPV methodologies are the cornerstone of all the bank’s fair-value valuations and Prudent Valuations. The VM Mumbai team will also provide technical assistance to the IPV production teams based in Mumbai, Singapore, London and New York.VM regularly engages with the Front Office Trading, Front Office Quants, as well as other control teams such as Finance, Market Risk and Model Validation to discuss and prioritise issues. The VM Mumbai team will be expected to participate in these engagements and to contribute to the resolution of high priority issues.The candidate must be able to communicate complex concepts both verbally and via documentation, to accountants, traders, quants, risk managers and regulators, and be able to defend and/or challenge their validity. This requires the ability to translate complex quantitative problems into simple terms for the benefit of less technical members of the business.Key responsibilities: Particular focus on the development and enhancement of Independent Price Verification (IPV) methodologies for all asset-classes and to provide technical support to the IPV production teams based in Mumbai, Singapore, London and New YorkSupporting the asset-aligned VM teams, as required (including supporting validation of Front Office developed valuation methodologies)Ensuring adherence to, and supporting the maintenance of, key governance documentation such as the Global Valuation Control Policy and other Valuation related policies Providing training and guidance to VC staff on the requirements of the VC Policies, as requiredManaging the production of regular Management Information, as required Monitoring Key Reporting Indicators and Key Performance Indicators relating to the various relevant Pru Vals and valuation methodologies for all ass