The Valuation Control Group (VCG) is responsible for ensuring the accuracy and integrity of the valuation of financial instruments and assets. This group plays a pivotal role in risk management and financial reporting by independently verifying valuations, developing and maintaining robust valuation methodologies, and validating market data and models. By ensuring compliance with industry standards and regulatory requirements, the VCG helps maintain the credibility of financial statements and supports effective risk management practices. Their work is essential in identifying and mitigating valuation risks, thereby safeguarding the institution's financial health and reputation.
As a Vice President and VCG India Rates and FIF Lead, you set strategy and operating cadence for Rates valuation control in India, owning governance, BAU delivery, and strategic change. You partner with VCG Rates hub lead globally, Front Office and control functions to drive well-governed outcomes. Our VCG is organized along business lines including Corporate & Investment Bank (Macro Products, Credit, Equities, Securitized Products, IB Risk), CIO, Treasury & Corporate (CTC), Asset Management, Consumer & Community Banking (CCB), and Commercial Banking (CB). Clients of the group include senior management, business heads, regulators, and both internal and external audit.
Job Responsibilities • Ownership and Timeliness: Take complete ownership of deliverables on a daily, monthly, and quarterly basis to ensure tasks are completed accurately and on time. • Valuation and Compliance: Perform independent reviews and validations of valuations, calculate valuation adjustments, and ensure accurate reporting in financial statements, adhering to VCG standards and regulatory requirements. • Data Science: Model numeric or Boolean data for financial and accounting forecasts. • Modelling Macro variables: Use advanced statistical techniques to develop predictive models to accurately and reliably address macro-economic variables. • Stakeholder Communication and Methodology Adaptation: Liaise with stakeholders to manage changes in valuation methodologies based on technical standards and audit insights and communicate effectively with senior management regarding valuation anomalies. • Data Analysis and Process Improvement: Design, build, and test data insights and visualizations, streamline data flow, and enhance processes using tools like Alteryx and VBA to minimize operational risk. • Leadership and Mentorship: Mentor junior team members, lead project initiatives using advanced tools like Databricks and Python and foster a culture of innovation and operational excellence. • Risk Management and Collaboration: Engage in risk mitigation through process improvement, collaborate with internal teams, and independently manage audit deliverables. • Model Documentation and Review: Work closely with Model Risk Governance and Review (MRGR) to compile VCG model documentation and take ownership of any action items from the review.
Requirements • Experience and Education: Over 10+ years of experience in a similar role, with a graduate degree in finance, mathematics, or statistics. Preferred qualifications include CA, CFA, or engineering. • Financial and Analytical Expertise: Strong understanding of financial markets and products, including derivative strategies and payoffs, coupled with strong analytical, quantitative, and problem-solving skills. • Financial Statements and Accounting Proficiency: Possesses basic proficiency in understanding financial statements and accounting principles, enabling effective analysis and decision-making in financial contexts. • Technical Proficiency: Proficient in modern technological tools such as Tableau, Databricks, SQL, Alteryx, Python, Advanced Excel, and PowerPoint. • Project Management and Communication: Ability to efficiently prioritize multiple tasks while leading high-impact projects, and excellent verbal and written communication skills for effective interaction with various teams. • Teamwork and Leadership: Demonstrates strong teamwork capabilities and leadership skills, fostering collaboration and effective communication with trading, technology, market risk, and other teams to achieve common goals.