Valuation Control Group (VCG) is an independent control group which works with the business to ensure that the valuation of the firm’s products and portfolios are both independently and fairly marked and that fair valuation processes are operated accurately and robustly. VCG is also solely responsible for setting reserve policies and methodologies as well as monitoring compliance to policies to ensure appropriate level of reserving in the business. The group forms the primary interface for discussing valuation issues with the Front Office, but retains reporting lines through the Finance & Risk management chain.
The role is based in London. Product mix is very broad and will cover vanilla to structured emerging markets interest rate and FX derivatives, with a focus on valuation.
· Ongoing monitoring of risk exposures, concentrations and market activity across the business to understand impact on reserves and parameters calibration in the book.
· Driving efficient execution of key processes around Reserve Substantiation & Reporting, P&L Analysis and Price Testing
· Play a central role in providing month-end prices to the Totem service on a wide range of products, with particular focus on rates and FX products (swaps, IR options, non deliverable forwards)
· Work on projects to develop innovative and efficient technology solutions
· Implement best practice methodology for fair valuation and reserve methodology
· Review ‘approximately loaded’ trades
· Follow all relevant markets closely and ensure that reserves, P&L and market moves can be triangulated on a day-to-day basis
· Partner and interact with global VCG team to devise consistent methodologies for reserves and price testing, and to produce monthly valuation reports.
· Ah hoc projects and value – added analysis
· 4-5 years experience in the financial sector
· Good existing knowledge of interest rate and FX markets and derivative products in general
· Track record of dealing with Front Office and coordinating with wide variety of other control groups
· Strong verbal and written communications skills and the ability to influence and debate on behalf of VCG to the groups stakeholders (Front Office, Product Control, Middle Office, Quantitative Research, Model Review)
· Ability to use core business systems (e.g. Kapital, Athena, Orion) to generate prices for various products would be beneficial
· Commitment to getting things done to tight timeframes and detail focused
· Self-starter with ability to work with limited supervision and be able to reach appropriate decisions / conclusions
· Strong commitment to learn and operate outside of comfort zone
· Advanced competency in Excel, VBA beneficial
· Candidates with quantitative backgrounds preferred. CFA designation (or similar qualifications) a plus
Please note that J.P. Morgan will not accept unsolicited approaches or speculative CVs, nor will J.P. Morgan be responsible for any related fees, from Third Party Firms who are not preferred suppliers.
The firm invites all interested and qualified candidates to apply for employment opportunities.
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