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 and quantitative groups to fully understand their implications from a risk/return perspective and the impact on the desk’s 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 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 Traders, CFOs, Market Risk, and Middle Office 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 Commodities business. Products covered include vanilla, exotic commodity derivative as well as structured assets derivatives, the job will be based in London.
Responsibilities will include:
• Analysis of Markets, P&L & Risk on a periodic basis with understanding of the factors that drive valuation and risk
• 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, QR, 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
• 2 years experience with commodity products, covering Commodity Products in Finance/Risk-related fields. Analytical and quantitative aptitude (candidates with quantitative backgrounds preferred)
• Knowledge of commodity products, including derivative pricing, risk and valuation
• Strong understanding of commodity markets
• Ability to understand complex products, analyse transaction and process flows
• Experience working with trading desks
• Understanding of valuation concepts as they pertain to financial products and derivatives, some accounting knowledge desirable
• Strong verbal and written communications skills. Must have the ability to participate in discussions with all levels of management, be comfortable discussing issues with Trading and Senior Management. Ability to explain complex concepts
• Advanced Excel and Power-point skills. Experience with Visual Basic and automation. Database and Python skills helpful.
• Propensity to handle multiple tasks simultaneously and efficiently.
• Experience with project managementAll internal moves will normally take place on the same grade and same salary. Salaries are reviewed annually in February. Exceptions to the rule regarding transfer on current salary may include a move between geographic locations.
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.
If you are a US or Canadian applicant with a disability who is unable to use our online tools to search and apply for jobs, please contact us by calling (US and Canada Only) 1-866-777-4690. Please indicate the specifics of the assistance needed.