Finance - VP - Prudent Valuation Methodology Specialist

Job Title: Prudent Valuation Methodology Specialist

Business: ICG

We are seeking an outstanding candidate to be a Prudent Valuation Methodology Specialist, reporting into the Prudent Valuation Methodology Lead. The role will focus on Prudent Valuation (PruVal) methodologies across all asset classes.

Valuation Methodology is a team within the Valuation Control Group (VCG), and one which is crucial and highly influential.  This team focuses on a wide-ranging and evolving scope of initiatives, from known valuation and governance issues to areas of changing and emerging market practice. 

The candidate must have a strong understanding of current global accounting and regulatory developments pertaining to fair and prudent valuation of financial instruments, along with a strong understanding of implementing/maintaining an effective control framework.

This role will provide expert thought-leadership on technical prudent valuation issues within the EMEA business across all asset classes and will require excellent communication as well as negotiation skills and teamwork across multiple businesses and locations.

The successful candidate needs to demonstrate an ability to communicate complex ideas concisely and effectively.  The role also involves ensuring consistency and working with the Senior Product Control Managers across the different businesses.

Due to the technical nature of the role and the high-volume nature of the business, it is important that the candidate demonstrates an aptitude to succeed in learning all the technical aspects of PruVal, in order to pose a credible challenge to a growing business.

This is a position for an experienced, dynamic, technically-strong candidate, who can manage all aspects of the role.  

Job Background/context:

The Valuation Control Group (VCG) is an independent global group within Product Control responsible for reviewing and reporting fair value inventory 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.

Key Responsibilities:

Primary Responsibility

• Responsibility for PruVal methodologies support

• Will be responsible for developing and drafting formal PruVal policies, technical papers and governance documents

• Defining and developing practical PruVal controls that can be implemented

• Acting as first point of escalation with regards to any PruVal methodology item

• Identifying Pruval methodology issues that may require particular attention with critical analysis of the issues involved

People Management and Leadership

• Ability to work across teams and silos, and to leverage existing relationships

• Lead PruVal initiatives, and develop and propose solutions to complex technical challenges or control issues

• Active role as part of the broader regional and global product control team

Control Framework

• Enhancement and effective management of the VCG control and governance framework associated with PruVal

Development Value:

The successful candidate will have the opportunity to play a leadership role within their Valuation Control team

Person Specification

Knowledge/Experience:

• 5-7 years’ experience in a valuation, risk or product control related discipline

• Strong understanding of current global accounting and regulatory developments pertaining to fair and prudent valuation of financial instruments

• Ability to understand complex concepts and effectively challenge peers in Finance, Risk and the Business

• Strong communication skills, both written and oral

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience

Skills:

• A strong understanding of PruVal regulatory requirements and practical implementation

• Ability to manage time and work priorities efficiently and effectively

• Ability to perform within a time pressurized environment

• Understanding how to design and maintain a robust control framework

• Solid understanding or appreciation of derivative valuation methodologies in at least one Asset class. Cross asset class knowledge is preferred but in-depth knowledge is expected in at least one area.

• Hands-on experience of implementing new or enhancing existing valuation methodologies. Working with other stakeholders in driving change.

• A strong understanding of valuation techniques for fair-valued instruments, with a focus on complex / exotic derivatives

• Ability to communicate effectively, both written and verbal

• Hands-on. Must have a good eye for detail, but also be able to communicate to seniors in a succinct/clear fashion

• Well organized

Qualifications:

• A Bachelor’s or Master’s degree in any finance, economics or quantitative related subject.

Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience

Competencies

• A proven track record of execution Leadership skills

• Ability to work well in a teams (actual and matrix)

• Ability to influence individuals outside of core management hierarchy

• Self-motivated and innovative

• Ability to prioritize to ensure deadlines are met

• Excellent interpersonal skills – able to deal with a range of senior/junior staff across a number of disciplines

• Control focused

​Valuing Diversity: Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success. 

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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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