Markets Price Risk

Markets Price Risk & Controls - Valuation Risk

Citi is looking for an experienced professional for a role in the Markets Price Risk & Controls – Valuation Risk team, part of the 1st Line of Defense. The successful candidate will have significant experience in product valuations including market/model risk and understanding of the overall control environment.

This role will have responsibility for monitoring, investigating and challenging valuation controls as well as producing monthly governance and project management materials. The scope of the role covers Markets globally and requires collaboration with colleagues across all regions.

Successful execution will require partnership with Traders, Quants, Technology, Market Risk and Valuation Control, whilst also leading engagements with internal audit (IA) and regulators.

Background

The Valuation Risk Team is a specialized function within Markets Risk and Controls, which establishes and maintains a robust 1st Line of Defense (1LoD) control environment and culture to minimize financial risk within the Markets business. The Valuation Risk Team sets the standards for the quality of Front Office management of Valuation Risk, manages implementation of those standards and is responsible for Markets wide governance of 1st Line valuation risk.

Key Responsibilities:

• Perform the 1LoD Valuation Controls which include oversight and governance of Valuation Consistency, Unchanged Prices, and Non-Standard Trade Booking controls
• Evaluate metrics and reports relating to these controls, and where relevant identify necessary actions and facilitate resolution of identified issues.
• Generate monthly materials for senior governance forums which are accountable for consistent Front Office valuations
• Design and implement Front Office controls which effectively mitigate the risk of mis-valuation of financial instruments
• Engage with Markets Technology, senior Markets Traders and Risk functions to develop new technology capabilities for cross-Markets Valuation Risk controls
• Coordinate and lead Regulatory and Internal Audit requests impacting upon Valuations and remediation ensuring timely response and delivery
• Ongoing review and enhancement of Markets-wide Policies on Valuation Risk to drive standardized and consistent mechanisms to evidence controls and supervision of pricing risk
• Define operating control standards across Markets and embed within the Manager Control Assessment (MCA) framework to assess Valuation Risk controls and ensure businesses operates within risk appetite

Qualifications & Competencies:

• Strong technical understanding of derivative valuations across multiple asset classes
• Robust understanding of typical data structures for market data utilized by derivative models
• Strong controls mindset, identifying and mitigating risks, communicating and escalating concerns
• Experience dealing with regulators, Audit, Compliance and other Risk and Control functions
• Strong communication skills with an ability to influence senior stakeholders and to adjust communication style for the target audience
• Self-motivated and detail oriented
• Excellent organizational skills, with an ability to multitask and adapt to change
• Ability to collaborate across businesses, regions and support functions
• 9+ years' experience in Risk Management, Valuation Control, Trading or other related roles in the financial industry

Education:

• Bachelor's/University degree or equivalent experience, potentially Masters degree

Job Family Group:

Risk Management

Job Family:

Enterprise Risk

Time Type:

Full time

Most Relevant Skills

Analytical Thinking, Business Acumen, Constructive Debate, Escalation Management, Issue Management, Policy and Procedure, Policy and Regulation, Risk Controls and Monitors, Risk Identification and Assessment, Stakeholder Management.

Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

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