About J.P. Morgan
J.P. Morgan is a leader in financial services, working in collaboration across the globe to deliver the best solutions and advice to meet our clients’ needs, anywhere in the world. We operate in 150 countries, and hold leadership positions across our businesses. We have an exceptional team of employees who work hard to do the right thing for our clients and the firm, every day. This is why we are one of the most respected financial institutions in the world – and why we can offer you an outstanding career.
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 desk, quantitative groups, Market Risk, MGG and the P&L controllers to fully understand the risk. In addition, VCG is responsible for, or involved in, 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 Trading desk, CFOs, Market Risk, Middle Office, QR and MGG to ensure a complete understanding of business issues and the accurate execution of valuation policy.
The candidate will be a member of the Valuation Control Group covering Global Credit Trading business. The role will allow direct interaction with the trading desk, Market Risk, MGG and P&L controllers on a regular basis. Products covered include both vanilla (eg single name CDS, index CDS, corporate bond) and exotic credit products (eg credit contingent FX swaps, leveraged CLN, financing trades and other non-standard transactions). The emphasis of the position is on exotic products. The role is based in London.
· Owning the end-to-end month end process – performance of price testing and valuation adjustment calculations, analyzing and challenging the results, dealing with FO challenges, communicating the results to Controllers, FO, VCG Management
· In-depth understanding of Valuation Policies, Standards and Procedures
· Dealing with ad-hoc requests related price testing and valuation adjustments
· Owning the relationship between the trading desk and valuation group
· Training and guiding the on-shore and off-shore team. Liaising with other VCG line of business representatives globally
· Building new / improving existing excel-based tools; working with Tech on developing automated solutions
· Collaborating with other counterparts (FO, MR, QR, Finance) on new / large / complex transactions; providing advice on valuation for non-standard risks / trades
· Review of new model releases / approximately loaded transactions and their impact on valuation
· Analysis of Markets, P&L and Risk on a daily basis with understanding of the factors that drive valuation and risk; discussing recent market events and valuation issues with the wider VCG group
· Working with Trading, Middle Office, Finance, QR and Model Review to continually monitor the various valuation risks of the business and implement appropriate adjustments
·Other regulatory driven and strategic projects specific to Credit as well as across the bank
· Experience of credit products or in a Valuation /Finance/Risk-related field.
· Analytical and quantitative aptitude. Candidates with quantitative backgrounds preferred.
· Knowledge of credit products/markets, including derivative products, risk and valuation preferred
· Ability to understand complex products, and analyze transaction and process flows
· Experience working with trading desks.
· Understanding of valuation concepts as they pertain to financial products/derivatives, some accounting knowledge
· Strong control mindset
· Strong verbal and written communications skills. Must have the ability to lead discussions with all levels of management, be comfortable discussing issues with Trading / Senior Management. Ability to explain complex concepts
· Very good Excel and Power-point skills; experience with Visual Basic or database skills helpful.
· Propensity to handle multiple tasks simultaneously and efficiently.
· Experience with project management
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