We are seeking an outstanding candidate to be a Valuation Methodology Specialist, reporting into Head of Valuation Methodology for Citi.
Valuation Methodology is a new team within VCG, and one which is crucial and highly influential. This team will focus on a wide-ranging and evolving scope of initiatives, from known valuation and governance issues to areas of changing and emerging market practice.
The focus of this team will be to investigate these issues, provide thought-leadership to senior management on their resolution, and to provide specific, practical and implementable advice on how to address the issues. Some of this will involve creation of new controls, implementation of new techniques, and the drafting of formal policy and other important governance documents, so senior-level experience of these disciplines is essential.
This role will provide expert thought-leadership on technical valuation issues across all areas of VCG's responsibilities globally, and cross-product. The purpose of this team is to help ensure Citi has the most appropriate and complete valuation control framework across all areas of price verification, valuation adjustments and wider governance aspects. This role requires significant technical understanding of the capital markets products traded by Citi.
The individual in this role will be interacting with Senior Management within Finance, Front Office and Risk Management and will support the development of a strong valuation framework and the application of consistent valuation methodologies for Citi.
Excellent communications and negotiation skills are vital. The successful candidate needs to demonstrate an ability to communicate complex ideas concisely and effectively. The role also involves ensuring global consistency and working with the Senior Product Control Managers across the various regions.
This is a position for an experienced, dynamic, technically-strong executive, who can manage all aspects of the role.
Valuation Control Group (VCG) is a cornerstone of the Product Control function. The function is organized into product-aligned teams including a dedicated Price Verification team. The product scope is comprehensive and includes a full range of security and derivative products.
The key responsibilities of the group are to perform the independent price verification for traded inventory, calculate market value adjustments and conduct new trade reviews.
The successful candidate will play a critical leadership role within the Global Valuation Control team and support the Global Valuation Control Head.
There will be regular interaction with a wide variety of other functions within Markets and Banking globally and within the Global Product Control organization.
People Management and Leadership
Ability to work across teams and silos, and to leverage existing relationships
Will lead initiatives, and develop and propose solutions to complex technical challenges or control issues
Active role as part of the broader regional and global product control team
Will be responsible for developing and drafting formal policies, technical papers and governance documents
Flexibility and Adaptability:
The priorities of this individual will be set by Head of Valuation Methodology, and this individual will be expected to manage those priorities appropriately as a senior manager. There will be crucial deadlines that will need to be achieved.
Adaptability to changing circumstances is crucial, as the prioritization of responsibilities will need to evolve with changing circumstances.
Experience of regulatory and audit focus from a control and governance perspective, and able to provide detailed practical guidance on implementing appropriate controls.
Broad understanding of control principles
Will have responsibilities for defining and developing practical controls that can be implemented.
This is an important and influential hire for Product Control. The successful candidate will be required to play a key role within the Global Product Control organization, by demonstrating a wide range of skills and the ability to develop and support Citi's global approach to Valuation Control, and the wider control environment.
Significant' experience in a technical valuation, risk or product control related discipline
Strong understanding of current global accounting and regulatory developments pertaining to valuation of financial instruments
Ability to understand complex concepts and effectively challenge peers in Finance, Risk and the Business
Strong communication skills, both written and oral
Leadership and Management
Excellent people Management
Inspires and empowers team and individuals
Drives Value for Clients
Trusted partner, drive innovation, speed market by learning from others
Anticipates, demonstrates understanding of expectations and needs
Work as a Partner
Works collaboratively across the organization
Challenges self and colleagues to higher levels of performance
Treats people with respect
Pushes for culture of high standards
Sets positive tone and inspires enthusiasm
Assists in executing the vision set forth by Senior Management and is responsive to changes in environment
Lives Citi Values
Sets the standards for the highest integrity in every decision
Has the courage to always do what is right and the humility to learn from mistakes
Sets high standards and achieves performance objectives
Prioritizes and provides clear line of sight to most critical work
Sets clear goals and measures progress
Expects self and team to consistently meet/exceed expectations
Product Technical Knowledge
Excellent understanding of complex structured products and different models used for valuation
Demonstrates a strong leadership and focus on control. Ensuring integrity of reporting and independence of controls associated with critical function
Strong Influencing and Presenting Skills
Ability to communicate and deliver key messages to senior audience
Credible in front of regulators and external auditors
A Bachelor's or Master's degree in any finance, economics or quantitative related subject.
Self-Motivated and innovative
Ability to prioritize to ensure deadlines are met Strong Communication Skills, both written and oral
Excellent interpersonal skills - able to deal with a range of senior/junior staff across a number of disciplines
Proven influencing and negotiation skills
Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.
Valuing Diversity: Demonstrates an appreciation of a diverse workforce. Appreciates differences in style or perspective and uses differences to add value to decisions or actions and organisational success.