AVP Business Finance - Valuation Control - Emiratised Role

The Valuation Control function is responsible for verifying the accuracy and integrity of the fair value of financial instruments on the Balance Sheet via the IPV process.The role reports into the VP Head of Valuation Control function within the GM Business Finance team. The candidate will assist the team which consists of 2 VPs to run the day to day BAU control processes and assist senior team members with the enhancement and development program to strengthen controls and ensure compliance with Financial Standards and Regulatory requirements.Responsibilities of the IPV FunctionPerform an independent valuation check of the banks inventory.Validate market data used in valuation to independent sources.Ensure valuation adjustments are made to report positions at Fair Value.Implement IPV process in line with Risk Valuation Methodologies (RVM).Calculate and adjust reserves (Model Bid/Ask Volatility Liquidity Credit and Hedging).Escalate valuation issues to IPV committee and other stakeholders.Independent validation of daily Eibor rate submission to the UAE Central BankEnd to end monitoring of Hedge Accounting (Linkage Documentation Testing)Specific AccountabilityExecute IPV BAU processes on a monthly basis for all financial instruments held at fair valuePrepare monthly IPV summary results for IPV Committee Senior Management and FO highlighting breaches and valuation concernsProvide insightful IPV variance explain challenge FO on IPV issues & offer pricing alternativesExecute the daily BAU process for the independent validation of daily Eibor rate submission to the UAE Central BankExecute the BAU process for the end to end monitoring of Hedge Accounting (Linkage Documentation Testing)Assist senior team members with the design and development of verification methodologies for existing and new products in line with policies drafted by the teamAssist senior team members with the creation and maintainenance of independent market data capture & swap curve construction processesWork with internal stakeholdres (Group Market Risk GM & GT Finance and FO) & external vendors to investigate pricing variancesContinously focus on enhancing and automating control processes working together with senior team membersAssist with UAT for various transformation projects within GM Business Finance and GM#LIMA3QualificationsMinimum QualificationUniversity degreeAccountancy Finance or Risk qualification will be an advantageMinimum Experience3 years experienceStrong financial markets derivative product knowledge acquired through similar rolesStrong analytical skillsUnderstanding of valuation models and valuation principlesKnowledge of VaR Internal Model Approach and PL Explain beneficialStrong computational technical and spreadsheet skills and knowledge of Bloomberg and Reuters beneficialUnderstanding of IFRSRemote WorkNoEmployment TypeFulltime#J-18808-Ljbffr