Valuation Control is a specialist group within Market and Valuations Risk Management (MVRM) that manages a wide range of relevant risk and implementation topics to ensure integrity and control over all aspects of the valuation of the Bank???s trading portfolios.
Performance of monthly and intra-month Independent Price Verification (IPV), Reserves and Prudential Capital??
Oversight and development of valuation, reserve and Prudential Capital methodologies
Analysis and management of key valuation uncertainty issues through DB???s senior management
Review of bespoke derivative and structured financing trades.
Acting as internal advisor and operates as a centre of excellence on valuation risk and methodology, Valuation Control works closely with its Risk Management partners, Finance, and Trading throughout the Asia Pacific region facing business hubs in Singapore, Japan, Australia and Hong Kong, as well as in the satellite countries. APAC Valuation Control collaborates extensively with European and North American facing colleagues and is fully aligned with Global Business Valuation Control functional leads located in London.?? We also employ an extended team model in relation to Mumbai and Manila located sister functions.
Your key responsibilities:
The primary function of the role is to partner the lead manager in development of the Fixed Income and Currencies (FIC) Valuations function located in Singapore, responsible for the bank???s regional FIC activities.
The role offered is for a Valuation Control IPV Specialist looking after the valuation control of the cash and derivative portfolio in the APAC Core Rates and Asia Emerging Markets businesses.
Being a specialist role, the candidate is required to demonstrate in-depth knowledge of Rates and Currency markets in both cash and derivative products, and to have solid understanding of other product groups given the scope of the regional desk???s trading mandate.
The candidate is expected to bring well-developed stakeholder management and leadership skills in addition to infrastructural and product technical skill sets and to establish a solid commercial and valuation risk culture in partnership with senior stakeholders.
Key Stakeholders: Front Office, Senior Risk, Valuations and Finance Management, and Regulators. ??
Develop an understanding and identification of the key valuation risk areas. Understand the nature and risks of the products/ portfolios/ transactions, their key valuation drivers and establish a valuation risk monitoring framework.
Oversee, review and critique valuation control results to ensure fair marking of books on a monthly and daily basis.?? Escalation of issues to Senior Risk and Valuation Control Management, Finance Management, Business Management and Valuation Control globally.
Liaise with Trading, senior Finance, Risk, and Valuation Control management, internal/ external audit and regulators on valuation issues as they arise.
Review and validate Trading valuation models and assumptions. Independent modeling of transactions may also be periodically required.
Ensure all aspects of the valuation review and control process are adequately documented for internal and external requirements.
Develop and implement a consistent methodology and process across all business areas for the independent valuation assessment of complex structured transactions. This includes an assessment at the inception of the transaction, and conducting ongoing regular valuation reviews. Propose appropriate reserving methodologies.
Assess the technical issues pertaining to IFRS Level 3 asset valuation including modeling, market data, calibration, etc. In conjunction with the Model Risk Management Team, assess the adequacy of valuation model controls to ensure continuing model validity, including the underlying model and calibration of model parameters.
Proactively improve processes including streamlining, automation and off-shoring of existing manual processes.
Provide critical appraisal of valuation control requirements, outcomes, concerns, and operational readiness for the New Product Approval process.
Actively develop global Bank valuation policies and standards (IPV, reserves, Prudent Valuation, IFRS Levelling) and Asian implementation. Requires regular communication with Global Valuation Control to ensure the Asia perspective is adequately articulated.
Management of stakeholder relationships across the region.
Management of offshore service partner relationships.
The team engages in a number of high profile functional and bank-wide initiatives and is deeply involved in ad-hoc analysis under tight timelines. It is expected that the applicant will be significantly involved in this work. Ongoing personal development will be both ???on-the-job???, via specific in-house and external courses, and through and web-based product courses.????
Your skills and experience:
High level of academic achievement, preferably from an accounting/ mathematical/ statistical/ engineering / economics background.
Have several years of experience (at least 7 years) within the valuation control/ product control/ middle office departments of a large investment bank with in-depth knowledge of Rates and Currencies markets.
Have specific exposure to reserving, pricing, and modelling aspects of valuation control of trading businesses, ideally in Rates and Currencies, and good working knowledge of Excel, VBA and possibly Python, hands-on experience of market data providers including Reuters, Bloomberg, ISMA and IHS Markit.
Be able to identify and understand the nature and risks of the products/ portfolios/ transactions, and their key valuation drivers and risks, in order to provide critical appraisal of valuation control requirements, outcomes, concerns, and appropriate remediation.
Additional background in Equities or Credit would be highly valued.
The individual should be highly motivated and have demonstrated an ability to work in a team. They should be able to work effectively under pressure, multi-task and take a proactive approach to all aspects of the role. They should have an ability to devise creative solutions to issues as they arise while maintaining a strategic perspective.
The candidate must be numerate, articulate and confident. Must be able to interact effectively with the trading staff and senior management. Good communication and organisational skills required.