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Corporate Controllers - Valuation Control Group, Investor Services & Collateral, Vice President

Req #: 170106769
Location: New York, NY, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 5000 US Dollar (USD)

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.


Our Group

The Valuation Control Group (VCG) has Firm-wide ownership of the policies for Independent Price Verification and Fair Value Adjustments for all traded instruments to ensure that the Firm’s risk positions reflect Fair Market Valuation. In this respect, VCG does the following:

  • Price-tests all instruments to independent data sources, typically consensus data.
  • Implements Fair Value Adjustments to bring mid-prices to Fair Value, to reflect illiquidity, concentration and/or uncertainty
  • Develops methodologies for Price-testing and Fair Value Adjustments
  • Reviews Approximately Loaded trades in conjunction with Middle Office and the Model Governance groups
  • Escalates Valuation Issues to Senior Business and Finance stakeholders
  • Defines and implements Fair Value Hierarchy for the classification of instruments

Our team

The Investor Services team in VCG is responsible for Valuation Control for all market-related Investor Services desks, globally.  The team covers the global Repo market-making business as well as Prime Finance. Valuation of derivatives (Repos, Reverse Repos, Bond forwards, TRS, IR swap, XXCY swaps, swaptions, equity swaps, equity options) will be the main focus. The team is spread across three locations (New York, London and Bengaluru) and has 7 members; its sister team, covering Collateral valuation for the Firm has 5 members.


 
Responsibilities will include
  • Oversee the Executing a price verification/benchmark process including the calculation of fair value adjustments.
  • Partnering with clients on the trading desk, and her/his colleagues in the valuation group in executing projects/monthly valuation.
  • Working with Trading, Middle Office, Finance and Model Review to continually monitor the various valuation risks of the business and implement appropriate adjustments.
  • Analysis of Markets, P&L & Risk on a daily basis with understanding of the factors that drive the valuation risk.
  • Enhance existing control framework including reviewing independent pricing processes, assessing potential coverage developments and implementing new tools to enhance control efficiency.
  • Provide business advisory on valuation issues related to large concentrations, revenue on new deals/complex transactions.
  • Other value-added projects related to Business, Risk, and Finance initiatives.

  • Experience in financial sector as well as experience in derivative pricing (Fixed Income and Equities).
  • Specific knowledge in collateral securities (RMBS, Corp, Sovereign) desirables.
  • Ability to understand risk dimensions of Repo transactions such as Haircut, counterparty risk, collateral, margining or wrong way riskiness.
  • Ability to analyze transaction and process flows.
  • Experience working with traders a plus.
  • Understanding of valuation concepts as they pertain to financial products/derivatives.
  • Some accounting knowledge desirable.
  •  Analytical and quantitative aptitude. Candidates with quantitative backgrounds preferred.
  • Strong verbal and written communications skills.
  •  Ability to explain complex concepts.
  • Advanced Excel and PowerPoint skills.  Experience with Visual Basic, automation and database skills a plus.
  •  Propensity to handle multiple tasks simultaneously and efficiently.



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