AVP Business Finance - Valuation Control - Emiratised Role

First Abu Dhabi Bank; Abu Dhabi; On-site; AED 120,000 - 180,000; Full time

Job summary

A leading financial institution in the UAE seeks a Valuation Control professional to verify the fair value of financial instruments. The successful candidate will work within a dynamic team to enhance control processes and ensure compliance with financial standards. Key responsibilities include executing valuation checks, preparing reports for senior management, and collaborating on verification methodologies.

Qualifications

• 3 years experience in finance or risk roles.
• Understanding of valuation models and principles is crucial.
• Knowledge of IFRS is beneficial.

Responsibilities

• Perform independent valuation checks and compliance.
• Calculate and adjust financial reserves.
• Prepare IPV summary results for management.

Skills

Analytical skills

Valuation principles understanding

Strong financial markets knowledge

Technical skills

Spreadsheet skills

Education

University degree

Accountancy, Finance or Risk qualification

Tools

Bloomberg

Reuters

Job description

Company Description

FAB, the UAE's largest bank and one of the world's most secure financial institutions, is dedicated to creating value for its employees, customers, shareholders, and communities. Through innovation, agility, and differentiation, FAB is committed to fostering growth.

We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting and dynamic industry.

Job Description

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 Function

• Perform 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 Bank
• End to end monitoring of Hedge Accounting (Linkage, Documentation, Testing)

Specific Accountability

• Execute IPV BAU processes on a monthly basis for all financial instruments held at fair value
• Prepare monthly IPV summary results for IPV Committee, Senior Management and FO, highlighting breaches and valuation concerns
• Provide insightful IPV variance explain, challenge FO on IPV issues & offer pricing alternatives
• Execute the daily BAU process for the independent validation of daily Eibor rate submission to the UAE Central Bank
• Execute 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 team
• Assist senior team members with the creation and maintainenance of independent market data capture & swap curve construction processes
• Work with internal stakeholdres (Group Market Risk, GM & GT Finance and FO) & external vendors to investigate pricing variances
• Continously focus on enhancing and automating control processes, working together with senior team members
• Assist with UAT for various transformation projects within GM Business Finance and GM

#LI-MA3

Qualifications

Minimum Qualification

• University degree
• Accountancy, Finance or Risk qualification will be an advantage

Minimum Experience

• 3 years’ experience
• Strong financial markets derivative product knowledge acquired through similar roles
• Strong analytical skills
• Understanding of valuation models and valuation principles
• Knowledge of VaR Internal Model Approach and PL Explain beneficial
• Strong computational, technical and spreadsheet skills and knowledge of Bloomberg and Reuters beneficial
• Understanding of IFRS