Valuations Specialist

Bank of America; City Of London; On-site; GBP 80,000 - 120,000; Full time

Job summary

A global financial institution in London is seeking a Valuation Controls Specialist (Vice President) to oversee valuation controls and methodology enhancements. The ideal candidate will have a strong background in Fixed Income businesses and accounting qualifications. This role involves collaboration with various teams to ensure compliance and accuracy in financial reporting. The position offers a rich benefits package, including private healthcare and competitive pension plans.

Benefits

Private healthcare

Competitive pension plan

Backup childcare

Flexible benefits

Access to mental health services

Charity matching program

Cultural membership discounts

Volunteer opportunities

Qualifications

• Strong understanding of valuation controls and regulatory rules.
• Experience with Independent Price Verification and Valuation Adjustments.
• Capable of leading business forecast routines and new product reviews.

Responsibilities

• Calculate and analyze valuation controls including IPV and valuation adjustments.
• Enhance valuation control methodologies and practices with Global Valuation Group.
• Lead quarterly disclosures and engage with key stakeholders.

Skills

Qualified Accountant (ACA, ACCA, CIMA or equivalent)

Good recent working knowledge of Fixed Income businesses

Understanding of complex non-Linear products

Financial Accounting & Reporting Expertise

Financial Analysis and Reasoning Skills

Accounting Knowledge

Valuation methodologies automation skills

Experience in a Global, Matrix Organisation

Job description

Overview

Job Title: Valuation Controls Specialist

Corporate Title: Vice President

Location: London

Company Overview: Bank of America is guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth guides how we run our company and deliver for clients, teammates, communities and shareholders. We are committed to a diverse and inclusive workplace and offer competitive benefits to support well-being.

Bank of America believes in working together and offering flexibility to employees. We use a multi-faceted approach for flexibility, depending on the role. Working here offers opportunities to learn, grow and make an impact.

The Team

FICC Business Finance & Control forms part of the GBAM CFO Group and provides control and business advisory support to the business. The team’s work covers P&L, balance sheet and Valuation controls with project work to improve processes. The role supports the EMEA Global Non-Linear Rates business (market making in Swaps and Complex Interest Rate/FX options in the EMEA region). The team collaborates with the trading desk, Global Valuation Group (GVG), market risk, legal entity controllers and other support functions. The team also participates in employee engagement and diversity initiatives.

Responsibilities

• Perform the calculation and analysis of valuation controls including IPV, valuation adjustments and prudent valuation adjustments, and ownership for quarterly disclosures.
• Work with the Global Valuation Group to ensure ongoing review and enhancement of valuation control methodologies and practices.
• Ensure procedure documents are accurate and up to date.
• Assist in streamlining and enhancing valuation processes and participate in system development ranging from technical enhancements and new product releases to automation of existing processes.
• Lead business forecast routines and new product reviews.
• Engage with key stakeholders including Front Line Units, Accounting Policy Group, Risk and Global Valuation Group to implement appropriate accounting policies and procedures.
• Demonstrate a strong understanding of valuation controls, regulatory rules and governance including Independent Price Verification, Valuation Adjustments and Prudential Valuation.

Skills that will help

• Qualified Accountant (ACA, ACCA, CIMA or equivalent) or CFA with good working knowledge of accounting concepts is preferable.
• Good, recent working knowledge of Fixed Income businesses and Valuation Control
• Understands complex non-Linear products and their valuations.
• Applies Financial Accounting & Reporting Expertise
• Applies Financial Analysis and Reasoning Skills
• Demonstrates Accounting Knowledge
• Capable of devising valuation methodologies and automate using various tech tools
• Experience in a Global, Matrix Organisation preferred

Benefits of working at Bank of America

UK

• Private healthcare for you and your family plus an annual health screen to help you manage wellness with option to add partner
• Competitive pension plan, life assurance and group income protection
• 20 days of back-up childcare and 20 days of back-up adult care per annum
• Option to adjust core benefits and select flexible benefits including wellbeing account, travel insurance, critical illness, etc.
• Access to emotional wellbeing helpline, mental health first aiders and virtual GP services
• Employee Assistance Program for confidential support
• Charitable donations via payroll with Bank of America matching
• Arts & Culture corporate membership program with discounted cultural institution entries
• Volunteer opportunities to support local communities

Bank of America: Good conduct and sound judgment are essential to long-term success. All employees are expected to adhere to our Code of Conduct and manage risk with accountability and an ownership mindset.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. We aim to make recruitment accessible for all candidates and welcome adjustment requirements.