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Corporate Controllers - VCG Mortgage Banking Group - Associate

Job Description

Valuation Control Group (VCG) is an independent group within Finance whose primary responsibility is to ensure that the firm's fair value portfolios are properly valued.  The group sets independent pricing and reserve policies.  VCG highlights concentrations in risk or uncertainties in parameter inputs and works with the trading and quantitative groups to fully understand their implications from a risk/return perspective and the impact on the level of reserving. In addition, VCG is responsible for the review of approximately loaded trades, high level risk / P&L analysis, approval of new products, and model releases.


VCG MB works closely with its clients who include senior management, business heads, regulators, and both internal and external audit.  The group also works closely with the Traders, CFO, Market Risk, and Control to ensure a complete understanding of business issues and the accurate execution of valuation policy.


The candidate will be a member of the valuation control function for Mortgage Banking business.  Valuation of residential mortgage asset and corresponding hedge portfolios will be the primary focus. Products covered include interest rate and MBS derivatives.


Responsibilities will include:

  • Executing a price verification/benchmark process including the calculation of fair value adjustments on mortgage assets

  • Partnering with clients on the trading desk, and her/his colleagues in the valuation group in executing projects/monthly valuation

  • Working with Trading, Controllership, Finance and Model Review to continually monitor the various valuation risks of the business and implement appropriate adjustments

  • Analysis of Markets, P&L, & Risk on a daily basis with understanding of the factors that drive the valuation risk

  • Enhance existing control framework including reviewing independent pricing processes, assessing potential coverage developments and implementing new tools to enhance control efficiency

  • Other value-added projects related to Business, Risk, and Finance initiatives

  • At least two years experience in financial sector with specific knowledge in mortgage assets or mortgage-backed securities. Experience in derivative pricing, risk a plus.

  • Ability to understand complex products, and analyze transaction and process flows

  • Experience working with traders a plus

  • Understanding of valuation concepts as they pertain to financial products and derivatives, basic accounting knowledge

  • Analytical and quantitative aptitude. Candidates with quantitative backgrounds preferred.

  • Strong verbal and written communications skills.

  • Advanced Excel and Powerpoint skills.  Experience with Visual Basic, automation and database skills a plus

  • Ability to prioritize multiple tasks efficiently

Req #: 160038684
Location: New York, NY US
Job Category: Accounting/Finance/Audit/Risk
Employment Type: Full Time
Potential Referral Amount: US Dollar (USD)

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