Job Title: Valuation Controller
Purpose of the role
Controllership is an expert function, that exists to deliver trust in the numbers that it is the custodian of, providing both insight and running controls and processes, enabling the business to grow and succeed safely. Controllership instils credibility with our regulators and drives understanding of HSBC's businesses. The Product Control (PC) function is an integral part of Controllership and provides independent control and assurance, product expertise, commercial insight and guidance to all businesses involved in trading activities throughout HSBC. We also partner the business to achieve sustainable financial performance. Reporting to the Global Head of Product Control, The Head of Governance, Controls and Model Oversight is a critical role in the Global PC structure, in charge of driving governance and controls across the 3 main areas of Core Product Control and Valuations/ Analytics. across the London, MENAT, and Paris hubs as well as sites such US and HK.
Core Product Control is responsible for ensuring the accurate reporting of Front Office based P&L and ensuring that the trading assets and liabilities are recorded at fair value. This includes providing an analysis of the components of P&L to provide insight into the apparent sources of P&L and enable assessment of these against expectation based on knowledge of trading portfolio, trading activity, market movements and other factors. The team is also responsible for ensuring that the Balance Sheet of the Markets Business is fully controlled and substantiated and has an extremely important and critical accounting control aspect and dimension.
The Valuations, Analytics, & Reporting teams in Product Control are global team responsible for all aspects of the calculation of Fair Value for traded instruments in Markets and Securities Services (MSS), Markets Treasury (MKTY) and more widely across HSBC. Valuations and Analytics teams are part of Global Product Control and split into 4 main areas of Quantitative Analytics including Models, Fair Value Methodology and Production, and Reporting Governance & Analysis. The team supports Product Control, Market Risk Management, Front Office and undertakes work within all derivative asset classes with focus on those asset classes that make use of quantitative models. The Reporting team is responsible for reporting returns made by Product Control, this includes daily P&L management reporting, quarterly reporting and relevant disclosures reporting.
Governance and Committee Memberships
- Regional Valuation Committees.
In This Role, You Will
- Overview of fair value, prudent adjustments and accounting framework governance from PTS to ledger that is critical for the accurate reporting of financial statements
- Overseeing preparation of IPV (Independent Price Verification), FVA (Fair Value Adjustment), PVA (Prudent Valuation) and FVL (Fair Value Levelling).
- Working on improving controls and implementing valuation methodologies.
- Analyzing Valuations model restrictions and recommendations.
- Coordinating preparation of appropriate Management Information for various committees.
- Delivering a single view of the P&L and Balance Sheet through cooperation with Business Financial Control and Core Product Control.
- Building relationships with key stakeholders including other Product Control functions, Quantitative Analytics, Front Office, Market Risk Management, IT and Operations.
- Reengineering and streamlining of processes to achieve economy of scale and increased service quality
Leadership & Teamwork
- Efficient co-ordination with the Trading Desks and other Business stake holders.
- Liaising with the Analytics and IT teams for development of automated implementations and solutions.
To Be Successful You Will
- 2+ years of relevant post-qualification experience in either the Product Control, Valuation Control or Market Risk.
- Good understanding of vanilla and complex derivative products, market risks and pricing parameters.
- Strong IT skill required including experience with Excel, VBA, SQL, Microsoft Access.
- A professional Finance qualification (CFA, FRM, CQF, CA) is preferred.
- Excellent written and oral communication skills.
- Strong quantitative and qualitative analytical skills
- Sound judgment and problem-solving skills, ability to think laterally.
- Great interpersonal skills, including the ability to articulate key quantitative issues clearly.
- Good appreciation of regulatory guidelines, rules and requirements.
Others
- Valuation controllers are expected to work across regions with multiple stakeholders both within Product Control, Front Office and other business stake holders in Hong Kong, Paris, Krakow, London and New York.
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You'll achieve more at HSBC
HSBC is an equal opportunity employer committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and, opportunities to grow within an inclusive and diverse environment. We encourage applications from all suitably qualified persons irrespective of, but not limited to, their gender or genetic information, sexual orientation, ethnicity, religion, social status, medical care leave requirements, political affiliation, people with disabilities, color, national origin, veteran status, etc., We consider all applications based on merit and suitability to the role.
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