AVP Business Finance - Valuation Control - Emiratised Role

First Abu Dhabi Bank; Abu Dhabi; On-site; AED 40,000 - 60,000; Full time

Job summary

A leading financial institution in Abu Dhabi is looking for a candidate for the Valuation Control function. This role will verify the accuracy of financial instruments on the Balance Sheet and assist in enhancing control processes. Key responsibilities include performing independent valuation checks, validating market data, and assisting in the development of verification methodologies. Candidates should have at least 3 years of experience in financial markets with strong analytical skills and understanding of valuation principles.

Qualifications

• 3 years of experience in financial markets.
• Strong knowledge of derivative products.
• Understanding of IFRS required.

Responsibilities

• Perform independent valuation checks of the bank's inventory.
• Validate market data to independent sources.
• Prepare monthly IPV summary results for the IPV Committee.
• Assist with UAT for transformation projects.

Skills

Strong analytical skills

Understanding of valuation models

Knowledge of VaR Internal Model Approach

Strong computational skills

Familiarity with Bloomberg and Reuters

Education

University degree

Accountancy Finance or Risk qualification

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

#LIMA3

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

Remote Work

No

Employment Type

Fulltime