AVP - Client Valuations Group

The Client Valuation Group

Working closely with Trading, Sales, Product Control, Legal, Compliance and Credit, our responsibilities include sourcing and distributing trade and financial instrument valuations, managing client queries, and reviewing new business requirements. CVG also ensures that the Bank’s global policy on the provision of valuations is policed and all exceptions are resolved or escalated appropriately.

Product coverage is wide-ranging and includes all OTC derivative asset classes, namely Interest Rates, Fixed Income, Credit, Equity, Foreign Exchange, Structured Notes and Commodities.

Main Accountabilities

The role holder will:

Provide a dedicated service distributing valuations to clients across their open trading positions, reconciling trade breaks and investigating/resolving valuation-related client queries. CVG provides valuations to clients across all product areas of OTC Derivatives, Repos, Bonds & Notes, including:

- Interest Rate Derivatives

- Equity Derivatives

- Commodities

- FX Derivatives

- Credit Derivatives

- Fixed Income Securities

- Structured Notes.

- Prepare and send client valuation statements.

- Provide timely management of valuation requests across OTC derivatives, bonds and structured notes

- Monitor and manage daily workflow across the team and ensure that daily delivery of all regulatory mandated Dodd Frank daily mark valuation reports have been successfully published within agreed timescales.

- Escalation contact point for the team where queries arise with clients’ trading activities.

- Perform detailed analysis on trade breaks to resolve issues in a timely, controlled and client-orientated manner.

- Review of MIS and KPIs, analyze root cause findings and subsequently determine best course of corrective action.

- Liaise with all areas of the bank – primarily Trading, Sales and Product Control - to source and confirm valuation data and resolve client queries; also liaise with Compliance, Middle Office, Confirmations and Legal, depending on the nature of each query.

- Build strong cross departmental relationships and ensure all risk and control functions are adhered to.

- Monitor all price and mark-to-market amendments and ensure all adjustments have followed the proper controls in place at point in time.

- Perform secondary checks, exercise due diligence and ensure the team fully understands their accountability and the impact to the firm if procedures are not being followed.

- Be fully conversant with the Global Client Valuations Policy and ensure strong understanding of roles and responsibilities (in and outside of CVG) and definition of exception processing.

- Collaborate with our key partners and stakeholders (Front Office, Technology and Ops) to obtain their buy-in, support and commitment. Challenge the current state and provide innovation opportunities to the team.

- Work effectively as a team leader, partner with other regional leads and persuade others to take action through collaboration and negotiation.

- Motivate and empower the team to achieve their business and development objectives by creating a healthy/supportive culture and focusing on continuous development.

- Set stretching objectives for self and team and deliver against those objectives.

- Lead, motivate, and develop teams to create a high performance culture and enhance the knowledge base, skills, talent and capability.

- Communicate progress against plans, achievements, and challenges and encourage feedback in addition to ensuring that the teams have the correct training and tools to undertake their duties to the highest standards, delivering a world class service to clients.

- Perform appraisals for team lead layer, providing guidance and career support

- Contribute and take a lead role in requirement specification and system testing, conduct regular reviews and enhance CVG processes, specifically including control procedures.

- Consistently enforce the Bank’s policy on the provision of client valuation data

- Lead and encourage constant process improvement across all Client Valuations processes to increase efficiencies and reduce risk where possible

Person Specification

- Exceptional product knowledge of OTC Derivatives, Bonds or Structured and Unstructured Debt.

- Expert navigating Bloomberg, Reuters and other 3rd party pricing vendor applications

- Solid knowledge and understanding of ISDA / CSA documentation / Bilateral and Multilateral Agreements.

- Several years experience dealing and managing clients and their expectations.

- At least 3 years of Client Valuations and/or Collateral Management experience or 5 years of relevant industry experience working with Trading, Product Control, Sales, Middle Office.