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Vacancies In Sandton At Absa bank south Africa-Independant Valuation Controller

Bring your possibility to life! Define your career with us

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

Suitable candidates are expected to have 4-7 years industry experience having worked their way in a valuations control or
middle office role with a top tier Investment Bank. Facing off with the trading desk candidates will need to demonstrate
knowledge /experience of Price Testing, Yield Curve Analysis / Construction, Valuation Adjustments, Model Validation, Middle
office, Documentation, Implementation of Processes / Procedures, Best Practices. An ideal candidate should be familiar with
new derivatives valuation techniques like OIS/CSA Aware Discounting, Credit Valuation Adjustment etc…

Job Description

THE ROLE INVOLVES:
The overall job purpose is to independently verify the appropriateness of the Fair Valuation of the Trading Positions.
– Decomposing trades into various risk factors, providing alternative valuation methodologies when parameters aren’t
observable and performing stress testing to quantify uncertainty ranges.
– Reviewing IPV methodology and implementing improvements and efficiencies.
– Reviewing valuation adjustment methodologies for their appropriateness to ensure positions are marked to fair value.
– Inventory valuation and control; which includes supervising the production quarterly disclosures, the reporting of Fair Value
Measurement and Option, completeness controls and SOX documentation / testing.

Accountability:

Ensure that implications of Absa Group requirements and policies (including changes in accounting standards) are understood and communicated.
Any new developments in IFRS/ accounting standards impacting valuations are being
implemented.
Review reporting for compliance with key external requirements and with audit requirements

Accountability: Staff development and team management (20 %)
Develop staff knowledge in Valuations Control functions, technical expertise and market risk concepts
Build skills base and competences through facilitation of appropriate trainings.
Manage careers of staff members.
Maintain and develop own knowledge and expertise at the leading edge of banking industry practice.
Embed formal Performance Development and informal coaching in the team.
Review training needs of team members.
Establish and maintain a succession plan for the key roles in the team.
Interview and recruit direct reports.
Review workforce and recruitment plans for the team and reallocate resources where required.
Approve leave requests for direct reports and manage the leave planning for the team effectively.
Act as escalation point for all grievances raised in the team.
Review overall team performance and provide input to consistency check meetings.
Recognize the efforts of their staff members

Accountability: Valuations Control Core responsibilities (70%)
Calculation and implementation of fair value adjustments of fair value adjustment calculations across all desks or product/asset class (i.e. Rates, FX, Commodities, Equities, Credit)
Price Testing
Counterparty credit risk adjustment
Bid Offer testing
Day 1 PnL
Model Risk adjustments,

Innovation
Investigate new and better ways to enhance e processes by measuring the effectiveness of all procedures.
Internal Client support
Provide technical valuation support to the Front Office, Product Controllers and Senior Management both with Absa.
Assist with Projects and Firm wide initiatives
Interaction with Key Stakeholders:

Interaction with various areas across the Absa and Barclays Group in order to obtain and understanding of the impact these areas have on Valuations Control as well as providing both formal reporting as well as ad hoc query resolution to these areas. Areas include:
o Absa CIB Finance & ARO Finance, including Financial Control and Financial Decision Support.
o Absa CIB & ARO Front Office
o Absa Group

Preparing for the Valuation Governance and Control Committee:
The Absa Capital Valuation Governance and Control Committee (VGCC) is a management level reviewing and decision making committee devoted to valuation related matters in Markets. The Valuations Controller Mid is expected to ensure that a detailed Independent Valuation Pack for each desk with the following information is presented and discussed:
Monthly Fair Value Adjustments (Price Testing, Bid-Offer and CCRA)
Review of Outstanding Issues/Action Points from previous VGCCs
Day 1 P&L Release if any
Review of Day 1 P&L tracking
Review of policies, procedures and methodology changes if any

Product Control line support:
Provide technical valuation assistance to the product controllers on each desk to
ensure that all valuations control requirements are optimally met.
Complex trade reviews:
Prepare complex trade reviews across various products and desks

Education and Experience Required
Masters, B.Sc. Hons, B.Sc. Eng with knowledge of financial instrument valuation.
Quantitative qualification an advantage preferable Honours/Masters in Maths of Finance or related. 4-7 years’ experience in investment banking or similar.

Education

Master’s Degree: Accounting (Required)

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