Product Control Manager- FX Valuation, banking exp – Teamrecruiter.com

Job Title: Product Control Manager- FX Valuation, banking exp

Location: Toronto, ON

Job Description: One of our major banking clients is looking for a Product Control Manager- FX Valuation, banking exp
Duration: 12 months contract with potential for extension
Location: Toronto, Hybrid – 2 days onsite
Working hours: Monday to Friday, 8.30 am-5 pm
Line of Business: Commodity -Metals‘The start date of this job is flexible and in order to find the best candidate the job may remain open much longer than the date mentioned on this posting… or you may be asked to start sooner than the expected start date if you are able to do so !’Please read the job description below. If this interests you, please send a MS-Word version copy of your resume (ASAP) along with a telephone contact number: E-mail to [email protected]Please mention the job title above in the subject line
The recruiter in charge of this role is FathiyaAfter you have submitted your resume via e-mail please complete the application for this specific job by clicking ‘Submit Your Resume for this Job’ at the bottom of this page to match your resume to the job.If you are interested in further opportunities, why not also do a general registration in our database. By visiting our website and clicking on ‘Database Registration’If you do not think you are a match for this opportunity, but know someone who is, feel free to forward this email to them and you will be eligible for a referral bonus upon a successful hire.
Requirements:
Accountabilities:
In connection with the Commodity and FX derivative trading and underwriting portfolios, the candidate is responsible for ensuring that valuations for these portfolios are materially accurate and where appropriate, that valuation adjustments and regulatory reserves are established. In meeting this objective the candidate will review, assess, and make recommendations with respect to the appropriate use of valuation models, identify official sources of market data used for valuation, and have overall responsibility for independent price verification. In executing these activities the candidate will manage relationships across the organization including the lines of business, Model Validation and Governance, Finance, Back Office, and Accounting Policy.Role Responsibilities:
Develop and implement policies and procedures for independent checking of valuations, escalation of exceptions, and valuation reserves or adjustments for trading and underwriting portfolios.
Promote best practices for valuation of trading and underwriting portfolios.
Develop, maintain, and improve valuation adjustment policies and procedures in compliance with GAAP/IFRS and regulatory requirements.
Develop, maintain, and improve the capital reserves policies
Document and maintain methodologies and procedures for valuation adjustments and capital reserve
Monitor models to ensure the mathematical representation of the market is sound on an on-going basis. This will involve assessing the performance of models in the markets in which they are used:
o to better understand model limitations;
o to quantify the effect of limitations given typical market conditions; and
o to perform model stress tests, as required, to assess the effect of extreme market conditions on the model’s performance and accuracy
Maintain the list of recommended market data sources used for mark to market or mark to model valuation and document changes to market data sources.
Create and maintain an inventory of official valuation models used for trading and underwriting portfolios, with related assumptions and limitations.
Maintain communication between the lines of business and Model Validation (MV) and Model Governance (MG) regarding the development of new models or changes in the application of existing models, to facilitate the involvement of MV early in the development process. This includes reviewing documentation, testing model assumptions and data requirements prior to the model being vetted, and advising the lines of business and MV of any clear deficiencies.
Monitor the use of models for consistency with data requirements and limitations identified by MV, the line of business, and/or VPC and advise the lines of business and other stakeholders if a model is being used under a condition that is contraindicated.
Review use of valuation methodologies and models for consistency across the trading and underwriting products and geographical locations and recommend changes as required.
Identify, assess, and recommend valuation reserves or adjustments for acceptance by senior line of business and Market Risk executives. Escalate disagreements between lines of business and VPC with respect to valuation reserves or adjustments.
Be proactive in identifying issues and proposing and implementing solutions.
Manage staff. Provide leadership in regard to training and development of direct reports. Responsible for performance reviews and feedback.
Proactively identify and report to EVP & Senior Market Risk Officer and Market Risk Managing Directors, specific positions, exposures or other factors that expose the Bank to unusual, unexpected, inappropriate or otherwise not fully identified or quantified valuation issues and recommend solutions to remedy such issues or exposures.
Qualifications:
Must Have Requirements:
– 4+ years of FX Valuation experience, preferably in a financial institution
– Market Risk Valuation experience
– Excellent understanding of Commodity and FX derivative products and markets, as well as the valuation and risk management methodologies associated with these
– Proven ability to provide strategic direction for major projects and initiatives.Nice To Haves:
– Solid understanding of accounting principles, finance accountabilities, and back office processes would be an asset
– Programming skills VBA & Python
– Capital Markets background
– Big 6 bank – dealing with valuationSoft Skills:
Strong analytic and problem solving skills.
Solid understanding of accounting principles, finance accountabilities, and back office processes would be an asset.
Solid quantitative skills.
Strong oral and written communication skills.
Strong interpersonal skills and ability to function effectively within a team.
Ability to prioritize multiple tasks and consistently meet deadlines while paying attention to details.
Ability to manage, coach, and develop subordinates.
Good relationship management skills.Education
Bachelor and above – preferred but not limited to Math, FinancePlease note that this is the most up to date version of job description available at this time – During Client Interview you will receive additional information – variance may apply!When you have some time please register in our database (5 minutes process) to be considered for future openings; the link is available on our website at http://www.teamrecruiter.com in the Candidate section. Please follow us on LinkedIn at https://www.linkedin.com/company/teamrecruiter.com/, or on Twitter at https://twitter.com/TeamRecruiter.We thank all applicants for their interest. Only those who meet the qualifications will be contacted through telephone/email. You are encouraged to register with us in our database to be considered for future positions available.Have a great day.At Teamrecruiter.com we offer some of the most highly qualified professionals in the workforce. We dedicate an industry trained recruitment specialist to the following areas: IT, Finance, Admin, Sales, Executive Search and Contractors. If you would like to learn more about our full-service recruiting firm please visit our website at www.teamrecruiter.com.CAMSC and ACSESS certified“…All Offers are conditional on Client Post-Offer Conditions being met and removed by end client prior to written offer signing”“Please note that emails from our Recruitment Firm may inadvertently be sent to your Spam Folder. When contacted regarding an employment opportunity, please keep an eye on your Spam/Junk Folder to avoid missing important communication.”THE EMPLOYER OF RECORD FOR THIS ROLE WILL BE TEAM RECRUITER / SE.Accommodations are available upon request for all individuals with disabilities taking part in the recruitment and selection process.

Company Name: Teamrecruiter.com

Salary:

Apply for this job!