Valuation Control Group (VCG) is an independent group within Finance whose primary responsibility is to ensure that the firm’s risk portfolios are fairly valued. The group sets independent pricing and reserve policies. VCG highlights concentrations in risk or uncertainties in parameter inputs and works with the trading desk, quantitative groups, Market Risk, MGG and the P&L controllers to fully understand the risk. In addition, VCG is responsible for, or involved in, the review of approximately loaded trades, high level risk / P&L analysis, approval of new products, and model releases.
VCG is organized along business lines including, IB Risk, Credit, Rates, Equities, Emerging Markets, Securitized Products, Principal Investments FX & Commodities. Clients of the group include senior management, business heads, regulators, and both internal and external audit. The group also works closely with the Trading desk, CFOs, Market Risk, Middle Office, QR and MGG to ensure a complete understanding of business issues and the accurate execution of valuation policy.
The candidate will be responsible for supporting the valuation control function for the Global Credit Trading business. The role will allow direct interaction with the trading desk, Market Risk, MGG and P&L controllers on a regular basis. Products covered include both vanilla (eg single name CDS, index CDS, corporate bond) and exotic credit products (bespoke CDOs, index tranches, FTDs, index options, etc). The role is based in London.
Responsibilities will include:
· Analysis of Markets, P&L and Risk on a daily basis with understanding of the factors that drive valuation and risk
· Building/automating price verification/benchmarking process including the calculation of fair value adjustments
· Owning the relationship between the trading desk and valuation group
· Provide advice on valuation issues related to large concentrations, revenue on new deals/complex transactions
· Re-engineering of fair value adjustments, including the review of concentrated/illiquid positions, complex transactions, market events effecting valuation
· Oversee the review and analysis of non-standard transactions
· Review and approval of new model releases as it relates to valuation
· Enhance existing control framework including reviewing independent pricing processes, assessing potential coverage developments and implementing new tools to enhance control efficiency;
· Working with Trading, Middle Office, Finance and Model Review to continually monitor the various valuation risks of the business and implement appropriate adjustments
· Other value-added projects related to Business, Risk, and Finance initiatives
· Experience of credit products or in a Valuation /Finance/Risk-related field.
· 3+ years experience in the financial sector.
· Analytical and quantitative aptitude. Candidates with quantitative backgrounds preferred.
· Knowledge of credit products/markets, including derivative products, risk and valuation preferred
· Ability to understand complex products, and analyze transaction and process flows
· Experience working with trading desks.
· Understanding of valuation concepts as they pertain to financial products/derivatives, some accounting knowledge
· Strong verbal and written communications skills. Must have the ability to lead discussions with all levels of management, be comfortable discussing issues with Trading / Senior Management. Ability to explain complex concepts
· Very good Excel and Power-point skills; experience with Visual Basic or database skills helpful.
· Propensity to handle multiple tasks simultaneously and efficiently.
· Experience with project management
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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