Valuations, Product Control, Derivatives, London, 6 months
Bank of America Merrill Lynch is looking to appoint an experienced Valuations focused professional to its Global Asset Resolution & Non-linear Rates businesses which trade a variety of structured credit, interest rate and FX products
Primary function of the finance team is to provide control & business advisory guidance. Key business partners are Valuation Methodology (GVG), trading desk, credit & market risk, regulatory group and the RWA team.
Core Function - Valuation Control:
- Price verification (daily, weekly, monthly) with communication to stakeholders (including the desk)
- Calculation of valuation adjustments & reserves and ensuring appropriately reflected in ledger
- Maintaining/updating policy and procedures for:
- valuation adjustment & reserves, and
- price verification.
- Review of risks across portfolios and ensuring that all policies / procedures are appropriately applied
- Identify opportunities to streamline existing practices
- Engagement in the design, build, testing, and implementation of new Technology Platforms & Systems.
- Working withGVG group on valuation reviews:
- deal specific, e.g. day 1 PL review
- sensitivity analysis
- Developing price verification & reserving methodology and practices
- Engage with Accounting Policy Group to implement appropriate accounting policies & procedures
- Review & enhancement of the PL explain processes, ensuring all market risks are appropriately detailed
- Managing key accounting, legal entity, regulatory and P&L issues with the business.
- Month end close, including Financial Disclosures (e.g. FAS157)
- Exercise of valuation control oversight on behalf of the business.
- Participation in the New Product Review processes
- Contributing to Governance process, operational error reporting and support of other internal control process, including SOX.
Competencies we look for
- Applies Financial Accounting & Reporting Expertise
- Applies Financial Analysis and Reasoning Skills
- Demonstrates Accounting Knowledge
- Demonstrates Financial Acumen
Skills we look for
- Qualified Accountant (ACA, ACCA, CIMA or equivalent) or CFA with good working knowledge of accounting concepts
- Experienced in price verification of FICC derivatives
- Investment banking experience (desirable)
- Strong Excel skills with the ability to build and use spreadsheets
- Demonstrable risk identification and management
- Ability to communicate with a diverse audience (trading desk, GVG,, middle office & market risk)
If you wish to apply for the above position, please call me on or email on martin.boulton @ pontoonsolutions.com
Please be advised if you haven't heard from us within 24 hours then unfortunately your application has not been successful on this occasion, we may however keep your details on file for any suitable future vacancies and contact you accordingly.
Pontoon is a global HR outsourcing company specializing in improving an organization's talent. We manage the contingent workforce and statement of work resources on behalf of our clients, as well as source and recruit direct hires. Pontoon's approach results in significant cost savings and revenue improvement, increased worker quality, workforce insight and greater regulatory compliance. A division of Adecco with operations in nearly 100 countries and with more than 1,500 colleagues worldwide, the Jacksonville, Florida-based organization delivers solutions to more than 150 industry-leading companies.
- Product Control