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The Valuation Control Group (VCG) is an independent team of subject matter experts within the Finance Division. VCG's primary responsibility is to reasonably ensure that risk portfolios are fairly valued in accordance with applicable standards and regulatory requirements. VCG is organised along business lines, and its clients include Business Heads, Line Product Control, Market Risk, Model Risk, Compliance, Legal Department, Middle Office, Internal Audit, external audit firms, and regulatory bodies across Citi's footprint. VCG collaborates closely with its client base to ensure a complete understanding of business valuation issues and accurate execution of valuation control policy. We are seeking an outstanding and highly motivated candidate to work within the Valuation Control Group as a Valuation Control Group Manager. This candidate will supervise certain businesses from a valuation perspective or other specialized VCG teams. Due to the hands-on nature of the teams, the candidate will be expected to have direct involvement.
Job Responsibility:
Valuation Control Oversight: Take responsibility for all aspects of valuation control of the business, including validation of market data inputs, reporting, and analysis
Methodology Development: Produce and implement methodologies and procedures for valuation adjustments and price testing across the business, with particular attention to the design of controls
Regulatory & Audit Remediation: Ensure timely remediation of regulatory matters requiring attention, audit findings, and associated reporting demands related to the area of responsibility
Control Framework Development: Develop appropriate controls to effectively ensure compliance with Policies and Standards pertaining to Valuation Control
Escalation Management: Act as the first point of escalation for any discrepancies and price variance breaches
Pricing Issue Identification: Identify pricing issues, valuation parameters, or instrument types that may require particular attention, performing critical analysis of the valuation issues involved
Project Leadership: Take a leading role in global, cross-functional projects
People Management & Leadership: Demonstrate leadership and accountability
Act as a business partner to Business, Risk, Compliance, and Finance teams
Control and Governance Framework: Enhance and effectively manage the VCG control and governance framework associated with the given VCG team in scope
Requirements:
Bachelor's degree or Master's degree in any finance, economics, or quantitative-related subject
10+ years of proven experience in a valuation, risk, or product control related discipline
Strong understanding of current global accounting and regulatory developments pertaining to the valuation of financial instruments
In-depth knowledge of a broad range of financial instruments, market dynamics, and valuation methodologies, including an understanding of cash and derivative valuation methodologies in at least one Asset class, with a focus on complex/exotic derivatives
Exceptional analytical, critical thinking, and problem-solving abilities, with a proven track record of resolving complex valuation issues independently
Ability to understand complex concepts and effectively challenge peers in Finance, Risk, and the Business
Strong communication skills, both written and oral, with the ability to articulate complex financial concepts and valuation results effectively to both technical and non-technical audiences, including senior management
Proven ability to work with other stakeholders in driving change and influencing individuals outside of core management hierarchy
Excellent people management skills, with the ability to train and develop a team
Experience in leading, mentoring, or coaching teams is highly desirable
What we offer:
A platform to work on a wide range of projects leveraging product & valuation knowledge along with data tools including KNIME, Power BI, Tableau and Python
Flexible work arrangements in an organization that acknowledges work-life balance
Career management and mentoring by senior colleagues and leaders
Inclusive and friendly corporate culture where gender diversity and equality is widely recognized
A socially active team and communities with diverse networking opportunities
A supportive workplace for professionals returning to the office from childcare leave
Competitive compensation package
In-depth understanding of pricing and price verification approaches for various products
Opportunity to build strong process improvement capabilities
Managing a team in a multicultural banking environment and close interaction with other locations
Opportunity for participation in managerial development initiatives
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