Analyst - Valuation Control

Job description

The primary purpose of the Valuation Control role is performing/reviewing the daily and monthly controls of the trading books for the Balance Sheet Management trading desk and developing an informed view of these controls. This includes P&L reporting, analysis of trading revenues through attribution, explanation of actual to flash variances, and writing daily commentaries. Valuation Control is the first line of defense to ensure proper marks on books and records as well as guard against inappropriate trading.
 
 
Impact on the Business
 
Review of P&L daily (MTM, accrual and risk based attribution)
Perform month-end close and balance sheet substantiation
Prepare/Review of daily consolidated financial packs for Front Office
Meet with Front Office daily to review pack
Trader flash to actual review and escalation of continued issues
Calculate FVA around IPV, Model and Market data uncertainty, CVA, Liquidity (Bid/Ask), etc.
Review/sample check Off Market Rate Check (OMRC) & Cancel and Amends (C&A).
Provide month P&L commentary (P&L, IPV, Impairments).
Submit and review KRI.
Manage WIRE submissions and any queries / questions.
True up and review month-end reporting (GAS)
Review book owner (CAMS)  
 
Customers / Stakeholders
 
Balance Sheet Management trading  
Operations
Internal and external audits
Collateral Management
Offshore Valuation Control team
Other Product Control Functions & Business Leads
Market and Credit Risk
Change Management
 
Leadership & Teamwork
 
Work effectively within the valuation control team.
Build and maintain a strong communication network with key stakeholders.
Build and maintain strong teamwork between onshore and offshore locations.
Properly escalate issues to management in a timely manner.
 
Operational Effectiveness & Control
 
Ensure that there is full compliance with the Global Markets FIM
Ensure integrity, conduct and performance against ethical standards
Document knowledge of current role
To implement the Group compliance policy locally by containing compliance risk in liaison with the Head of Group Compliance, Global Business Compliance Officer, Area Compliance Officer or Local Compliance Officer, ensuring adequate compliance resources and training, fostering a compliance culture and optimizing relations with regulators.
Complete other responsibilities, as assigned.
 
Major Challenges
 
IPV Completeness
- ensuring adequate control of the relevant books, including full reconciliations to the General Ledger
- in conjunction with Business Financial Control (BFC).
Understanding the business in detail and keeping up to date with business, market and product developments.
Recognizing valuation issues relating to the products traded by the Front Office.
Understanding how standard processes apply to this specific business, ensuring that any limitations are adjusted for locally and recommending which adjustments should be incorporated into updated standard procedures.
Building and maintaining a good working relationship with stakeholders, including the offshore team.
Ownership and accountability for delivery to, and relationship with, the local Front office.
Working under pressure to meet daily and monthly deadlines.
 
 
Role Context  
A first and second line defense function within Product Control.
This role will be part of a team of within Valuation Control broken down by Product
The role requires maintaining key controls.
The job holder will have frequent contact with various departments and will need to ensure that they have accurate and timely information including mainly Front Office.
 
Management of Risk  
Ensure compliance, operational risk controls in accordance with HSBC or regulatory standards and policies; and optimize relations with regulators by addressing any issues.
 
Observation of Internal Controls  
Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

Desired profile

0-2 years of experience in a Valuation Control or Product Control role
Bachelors degree in Finance / Economics / Mathematics / Statistics
Preferred excellent track record of experience in a Valuation Control or Product Control role
Theoretical / working knowledge of US GAAP and IFRS accounting principles
Working knowledge of Excel, Access and VBA
The role will require good communication skills  
EEO/AA/Minorities/Women/Disability/Veterans