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Corporate Controllers – Valuation Control Group- Rates & Differential Discounting – Associate

Req #: 180019969
Location: London, ENG, UK
Job Category: Accounting/Finance/Audit/Risk
Job Description:
Group description:
Valuation Control Group (VCG) is an independent control group which works in partnership with the business to ensure that the valuation of the firm’s products and portfolios are both independently and fairly marked and that fair valuation processes are operated accurately and robustly. Valuation & Policy Group is also solely responsible for setting reserve policies and methodology's as well as monitoring compliance to policies to ensure appropriate level of reserving in the business.  The group forms the primary interface for discussing valuation issues with the Front Office, but retains reporting lines through the Finance & Risk management chain. The role is based in London within the Linear Rates & Differential Discounting VCG team.

Job Responsibilities

  • Play a central role in VCG coverage for a variety of products, including Differential discounting, FX Forwards, Swaps, Bonds, Bond Options, Inflation, Basis.
  • Ongoing monitoring of risk exposures, concentrations and market activity across the business to understand impact on reserves and parameters calibration in the book. 
  • Driving efficient execution of key processes around Reserve Substantiation & Reporting, P&L Analysis and Price Testing
  • Work on projects to develop innovative, new risk measures and implement best practice methodology for fair valuation and reserve methodology
  • Validate and resolve price testing issues
  • Review ‘approximately loaded’ trades
  • Follow interest rate markets closely and ensure that reserves, P&L and market moves can be triangulated on a day-to-day basis
  • Ah hoc projects and value – added analysis


  • Bachelor degree required, Finance/Mathematics/Physics/Engineering preferred
  • Good existing knowledge of interest rate markets and derivative products in general
  • An ability to use core business systems (eg. Kapital) to generate prices for vanilla and exotic products would be beneficial
  • Track record of dealing with Front Office and coordinating with wide variety of other control groups
  • Excellent written and spoken communication skills
  • Commitment to getting things done to tight timeframes and detail focused
  • Ability to work with limited supervision and be able to reach appropriate conclusions
  • Strong commitment to learn and operate outside of comfort zone
  • Advanced competency in Excel
  • Competency in programming beneficial

Career Development

Working in VCG will give the successful candidate the opportunity to work alongside very intelligent, numerate and knowledgeable people in a global group that covers the entire spectrum of financial products.  It is an ideal place to get a bank-wide perspective of the various groups, businesses and products that make up the Investment Bank.
The candidate will be encouraged to develop the technical skills required in the role as well as becoming familiar with several of the risk systems used by the bank.
The candidate will develop a detailed understanding of Rates markets and products.  Furthermore, the candidate will have exposure to senior management in FO, MO, CFO, and Market Risk.
About J.P. Morgan Chase & Co:
J.P. Morgan serves one of the largest client franchises in the world. Our clients include corporations, institutional investors, hedge funds, governments and affluent individuals in more than 100 countries. J.P. Morgan is part of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.1 trillion.  The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of clients and consumers under its JPMorgan and Chase, and WaMu brands.
J.P. Morgan offers an exceptional benefits program and a highly competitive compensation package. J.P. Morgan is an Equal Opportunity Employer
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