JOB SUMMARY

This role could be based in India and Singapore. When you start the application process you will be presented with a drop down menu showing all countries, Please ensure that you select a country where the role is based.

The Valuation Control team supporting Corporate & Investment Banking (CIB) and Treasury CFOs ensures the accuracy and integrity of the bank's financial statements. This team independently verifies prices, reserves, and validates the valuation of the bank's diverse trading and investment portfolios, including derivatives and securities. By using rigorous valuation methodologies and advanced market data analytics, they ensure accurate pricing and fair valuation of financial instruments. Their work supports financial reporting, regulatory compliance, risk management, and transparency, maintaining the bank's reputation for financial prudence.
The team collaborates with front office traders, risk management, compliance, finance, internal audit, and regulators for comprehensive valuation oversight. Key skills for Valuation Controllers include analyzing complex financial instruments, understanding financial products and markets, meticulous attention to detail, and knowledge of financial regulations and compliance. 
We are seeking a dynamic and technically skilled professional to join our Valuation Control team as the Global Head of Valuation Control, reporting into the Global Head of Product control and Valuation Control. This role will play a pivotal part in expanding the Bank’s valuation capabilities, developing compliant and commercially effective strategies, and supporting various technology initiatives. The successful candidate will act as lead running the Valuation Control, working closely with Market Risk, CIB and Treasury business, Model Risk, and other key stakeholders to deliver best-in-class valuation solutions across the Group.

RESPONSIBILITIES
Strategy:
•    Enhance Valuation Methodologies: Continuously improve and refine valuation models and methodologies to ensure they remain robust, accurate, and aligned with market best practices and regulatory requirements.
•    Leverage Advanced Analytics: Utilize advanced market data analytics and technology to enhance the precision and efficiency of valuation processes, ensuring timely and accurate pricing of financial instruments.
•    Stakeholder Collaboration: Foster strong relationships with key stakeholders, including front office traders, risk management, compliance, and auditors, to ensure a holistic approach to valuation oversight and address any valuation-related issues promptly.
•    Regulatory Alignment: Ensure all valuation practices and controls are in strict compliance with regulatory standards and guidelines, proactively adapting to any changes in the regulatory landscape to maintain the bank’s compliance and reputation.

Reporting and Documentation
•    Prepare detailed valuation reports and documentation for internal and external stakeholders.
•    Maintain comprehensive records of valuation methodologies, assumptions, and adjustments.
•    Ensure timely and accurate reporting to support financial decision-making.
•    Develop clear and concise documentation to facilitate audits and reviews.

Risk & Regulatory
•    Regulatory Compliance: Ensuring all valuation practices comply with relevant financial regulations and standards, including those set by regulatory bodies.
•    Risk Management: Enhancing risk management practices by providing accurate and timely valuation data, which supports the identification and mitigation of financial risks.
•    Governance and Oversight: Driving the governance agenda by providing constructive challenges to the business and ensuring robust oversight of valuation processes.
•    Transparency and Reporting: Promoting transparency in financial reporting by ensuring that all valuations are accurate, consistent, and well-documented.
•    Audit and Review: Collaborating with internal and external auditors to facilitate reviews and audits of valuation practices, ensuring adherence to regulatory and internal standards.

Process Controls
Independent Price Verification
•    Conduct regular price verification processes to ensure the fair value of financial instruments.
•    Utilize external market data sources and models to corroborate internal valuations.
•    Identify and address any discrepancies between internal and external valuations promptly.
•    Ensure the accuracy and consistency of pricing across the bank's portfolios highlighting potential mismarks to front line supervisors.

Levelling
•    Classify financial instruments into appropriate fair value hierarchy levels (Level 1, Level 2, Level 3) based on observability and reliability of inputs.
•    Review and update levelling classifications regularly to ensure accuracy and compliance with accounting standards.
•    Document the rationale for levelling decisions and ensure consistency across similar instruments.
•    Work with auditors and regulators to justify levelling classifications and address any queries or concerns

Fair Valuation Adjustments (FVA)
•    Calculate and review valuation adjustments such as model reserves, liquidity adjustments, and other fair value adjustments.
•    Ensure these adjustments are in compliance with regulatory standards and internal policies.
•    Continuously monitor market conditions to adjust valuation methodologies as needed.
•    Maintain a robust framework for calculating and documenting valuation adjustments.

Model Validation
•    Collaborate with the Model Risk Management team to validate and review valuation models.
•    Ensure models are robust, accurate, and aligned with market conditions.
•    Participate in the annual review of FM Model Family Standards
•    Perform back-testing and sensitivity analysis to validate model performance.
•    Regularly update models to reflect new market data and emerging risks.

Prudent Valuation Adjustments (PVA/AVA) and Stressed PVA
•    Implement prudent valuation practices to ensure conservative and risk-averse valuation methodologies.
•    Assess and apply valuation adjustments to reflect market uncertainties and risks.
•    Ensure prudent valuation practices are documented and adhere to regulatory guidelines.
•    Regularly review and update prudent valuation policies to reflect changing market conditions.
•    Conduct stressed scenario analysis to evaluate the impact of extreme market conditions on valuations.
•    Calculate and apply stressed PVA to reflect potential adverse market movements.
•    Collaborate with Risk Management to integrate stressed PVA into the overall risk management framework.
•    Develop stress testing frameworks to enhance the robustness of valuation adjustments.
Deterministic Quantitative Methods (DQM)
•    Develop and implement robust Deterministic Quantitative Methods (DQMs), including decision-based rules and algorithms, to enhance the accuracy and reliability of business decisions in line with PRA's Supervisory Statement SS1/23.
•    Collaborate with cross-functional teams to integrate DQMs into risk management frameworks, ensuring that quantitative methods are effectively utilized to identify, assess, and mitigate potential risks.
Monitor and continuously improve DQMs to ensure they remain compliant with regulatory requirements and best practices, providing regular reports and updates to senior management on their performance and impact on business operations.

People and Culture
•    Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
•    Employ, engage and retain high quality people, with succession planning for critical roles.
•    Responsibility to review team structure/capacity plans.
•    Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives
•    Contribute to fostering a collaborative and inclusive culture within the Bank which promotes collective responsibility, diversity and is free from biases 
•    Nurturing fungible talent, transferable intelligence.

Leadership 
•    Strategic Vision: Ability to align the team's objectives with the broader goals of the bank, ensuring long-term success and sustainability.
•    Analytical Excellence: Strong analytical and problem-solving skills to provide accurate financial insights and drive informed decision-making.
•    Effective Communication: Excellent communication skills to effectively interact with various stakeholders and articulate complex financial concepts clearly.
•    Integrity and Accountability: Commitment to maintaining high ethical standards and accountability in all financial reporting and control processes.

•    Collaborative Leadership: Ability to foster a collaborative environment, working seamlessly with different departments and stakeholders to achieve common goals.
•    Adaptability and Resilience: Capacity to adapt to changing financial landscapes and regulatory requirements, demonstrating resilience in the face of challenges.
•    Innovative Thinking: Encouraging innovation and continuous improvement within the team to enhance financial controls and processes.

Qualifications
Given the breadth of areas the role covers, it requires a high proficiency in a wide variety of topics, including: 
•    Bachelor’s or Master’s degree or professional certification (e.g., CPA, ACCA, CA, CFA, CQM) is strongly preferred.
•    20+ years of experience managing Valuation Control team along with Valuation Methodology with Financial Markets products (FX, FXO, Rates, XVA, Commodities and Credit) expertise.
•    Strong knowledge of Valuation Control
•    Strong Financial Market Product knowledge including complex derivative valuations
•    Strong Project management skills
•    Strong quantitative analytical skills and understanding of financial modelling 
•    Strong Control mindset
•    Strong Product knowledge at across the core business products.

Description of behavioural competencies
•    Strong interpersonal communication skills to build an effective internal network across the numerous stakeholders.
•    Strong leadership qualities to manage, retain and mentor a large team and coach the next generation of leaders.

Role Specific Technical Competencies
•    Financial Products and Markets
•    Valuation
•    Financial Mathematics
•    Pricing
•    Data Gathering
•    Partnership Management
•    Data Analysis and Visualisation
•    Internal Controls

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.