Senior Manager

Bank of America; Gurugram District; On-site; INR 1,500,000 - 2,500,000; Full time

Job summary

Bank of America is seeking a Valuation Control professional to enhance their team in Gurugram District, Haryana. The successful candidate will engage in Independent Price Verification, valuation adjustments, and fair value assessments, conducting extensive analysis and maintaining high standards of compliance.

Ideal applicants should have a Chartered Accountant/CPA/CFA/MBA qualification along with 7+ years of relevant experience in a similar environment. Proficiency in tools like Alteryx and Tableau will be advantageous.

Qualifications

• 7+ years of experience in Global Markets Valuation Control or similar roles.
• Knowledge of US GAAP, IFRS, IAS reporting frameworks.
• CFA/FRM certifications preferred.

Responsibilities

• Perform valuation controls including IPV and valuation adjustments.
• Enhance valuation control methodologies with Global Valuation Group.
• Update procedure documents to ensure accuracy.

Skills

Effective communication

Valuation controls

Analytical skills

Proactive mentality

Proficiency in English

Education

Qualified Chartered Accountant/CPA/CFA/MBA

Tools

Alteryx

Tableau

Python

Access or VBA

Job description

Job Description:

Global Markets Business Finance & Control (BF&C) is a division of Global Banking & Markets (GBAM) Finance responsible for production and independent validation of Global Markets' profit and loss and balance sheet. The team is also responsible for running valuation controls to ensure fair value of balance sheet in accordance with internal valuation methodology and regulatory requirements. This includes independent price verification of both vanilla securities/derivatives and complex/illiquid assets such as exotic derivatives and distressed assets. Additionally, the team also calculates relevant valuation adjustments including adjustments for illiquidity, concentration, model limitations etc. as applicable. The team also calculates and reports prudential valuation adjustments on a quarterly basis.

The team works closely with front office, middle office, traders, valuation control and methodology (GVG) teams to drive the control agenda across the business.

IPV Center of Excellence forms part of the GBAM CFO Group and is a control and business advisory function. The team’s work primarily covers valuation controls for various asset classes across Global Banking and Markets, with a dynamic book of work providing opportunities to centralize, enhance and implement best practices for global valuation routines.

We are looking to recruit an individual to work in the valuations control area for one of the asset classes within FICC Micro (Rates/FX/Commodities) / FICC Macro (Credit/Mortgages/Munis) / XVA / Equities businesses in Global Markets. The candidate’s main responsibility will be to perform Independent Price Verification, Valuation Adjustments, Prudent Valuations and Fair Value Hierarchy assessment, providing a high standard of analysis and explanation.

The candidate will therefore have considerable interaction with the respective Front Office, Finance and Global Valuations Group (GVG) teams so good communication and time management skills are an essential requirement for this job.

The team is also encouraged to take part in employee engagement and diversity and inclusion initiatives to help continue to make Bank of America a great place to work.

Responsibilities

• Performing the calculation and analysis of valuation controls including IPV, valuation adjustments and prudent valuation adjustments, as well as ownership for Fair Value Hierarchy levelling.
• Working with the Global Valuation Group to ensure ongoing review & enhancement of valuation control methodologies and practices.
• Ensuring procedure documents are accurate and up to date.
• Assisting in the streamlining and enhancement valuation processes and becoming actively involved with system development ranging from technical enhancements and new product releases to automation of existing processes.
• Engaging with the key stakeholders including Front Line Units.
• A strong understanding of valuation controls, regulatory rules and governance including Independent Price Verification, Valuation Adjustments and Prudential Valuation.

Education

Qualified Chartered Accountant/CPA /CFA / MBA from Tier I/II institute with relevant experience in Valuation Control or Global Markets environment and organization of similar scale with US GAAP, IFRS, IAS reporting framework with an interest and aptitude for derivative products.

Certifications

• CFA / FRM certified candidates would be preferred.
• Advanced education and/or enhanced technical qualifications are a plus.
• Ability to use Access or VBA would enhance the candidate’s attractiveness significantly.

Experience Range

7+ years of experience in Global Markets Valuation Control or similar roles

Foundational Skills

• Alteryx / Tableau / Python knowledge would be an added advantage.
• Have the awareness to elevate potential issues to their supervisor in a timely manner.
• Candidate must have a proven track record of communicating effectively with personnel from various areas within an organization and at different management levels.
• Must be proactive and be a highly motivated self-starter.

Desired Skills

• Effective communication skills with English proficiency
• Demonstrated ability to work in a high-pressure environment
• Takes initiative and challenges existing processes and procedures in a proactive manner
• Strong team player
• Ability to analyze issues independently and derive solutions
• Analytical skills
• Inherent sense of principles of control through experience and sound judgment
• Reliability