Director - Credit Valuations Control

Purpose of the role

To conduct the accurate and timely valuation of financial instruments, and establishment of valuation methodologies, monitoring of market conditions, and provision of valuation insights to support financial reporting, risk management, and business decisions.  

Accountabilities

• Development and maintenance of valuation methodologies for various financial instruments, and implementation of appropriate valuation models based on the characteristics of the financial instruments and market conditions.
• Management of valuation process for the bank’s trading portfolio, including regular valuations of financial instruments and approval of valuations performed by colleagues.
• Analysis of market data to assess valuation inputs, assumptions, and potential valuation risks.
• Preparation and review of valuation reports, and support in preparing regulatory filings and financial statements.
• Provision of valuation insights to traders, risk professions and senior colleagues, and identification of areas for improvement in valuation methodologies and processes.

Director Expectations

• To manage a business function, providing significant input to function wide strategic initiatives. Contribute to and influence policy and procedures for the function and plan, manage and consult on multiple complex and critical strategic projects, which may be business wide..
• They manage the direction of a large team or sub-function, leading other people managers and embedding a performance culture aligned to the values of the business. Or for an individual contributor, they lead organisation wide projects and act as deep technical expert and thought leader, identifying new ways of working and collaborating cross functionally. They will train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions..
• Provide expert advice to senior functional management and committees to influence decisions made outside of own function, offering significant input to function wide strategic initiatives.
• Manage, coordinate and enable resourcing, budgeting and policy creation for a significant sub-function.
• Escalates breaches of policies / procedure appropriately.
• Foster and guide compliance, ensure regulations are observed that relevant processes in place to facilitate adherence.
• Focus on the external environment, regulators, or advocacy groups to both monitor and influence on behalf of Barclays, when appropriate.
• Demonstrate extensive knowledge of how the function integrates with the business division / Group to achieve the overall business objectives.
• Maintain broad and comprehensive knowledge of industry theories and practices within own discipline alongside up-to-date relevant sector / functional knowledge, and insight into external market developments / initiatives.
• Use interpretative thinking and advanced analytical skills to solve problems and design solutions in often complex/ sensitive situations.
• Exercise management authority to make significant decisions and certain strategic decisions or recommendations within own area.
• Negotiate with and influence stakeholders at a senior level both internally and externally.
• Act as principal contact point for key clients and counterparts in other functions/ businesses divisions.
• Mandated as a spokesperson for the function and business division.

All Senior Leaders are expected to demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard. The four LEAD behaviours are: L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others.

All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.

Location: Chennai or Pune
Overall purpose of role

To ensure that the firm's FI Credit portfolio is appropriately valued, based on a combination of analysis of market data inputs and review/assessment of the pricing models and methodologies used at both a portfolio and individual trade level.

Key Accountabilities

• Be part of the Valuation Control function managing and leading following products and main responsibilities:
  • Valuation coverage for Credit and Securitized Products businesses
  • Lead operations and pricing developments in the respective businesses: price testing; FVA’s; IFRS13 levelling; prudent valuation; etc
  • Price testing to consensus, exchange, broker, or other data of pricing inputs and model outputs for fair value positions.
  • Fundamental understanding of Credit and Securitized Products valuation in bond/loans markets, enterprise valuation techniques, securitization valuation, etc.
  • Calculation of applicable Fair Value, Additional Valuation Adjustments and Prudential Valuation for fair value positions. Review of methodologies.
• Able and confident to discuss, report and escalate to front office and senior management of price testing results, prudent valuation, and reserves, IFRS13 levelling, day 1 P&L, general modelling issues / uncertainties for specific products / markets.
• Liaising with trading/business heads, product control, risk management and quantitative departments on valuation and modelling issues.
• Involvement in regional and global ad hoc projects / investigation.
• Review new models from valuation perspective to provide approval as part of the model validation process.
• Investigation of pricing / model uncertainty in methodology and parameters used, testing model calibration employed.

Stakeholder Management and Leadership

• Effectively manage relationships across departments and the desk.
• Ability to discuss, present and explain valuation results with senior business management
• Collaborate within a team responsible for the calculation of price testing results, fair value and prudential valuation adjustments.
• management experience

Person Specification

• A proven team player who can work in a dynamic and fast paced team environment.
• Proven ability of influencing and motivating others in the delivery of key projects in pressurised circumstances.
• Actively support the development of team members in identifying strengths and weaknesses, in providing suggestions for improvements and in maintaining a constructive and open feedback culture.
• Proactively seeking opportunities for continuous development of personal capability and identifying potential sources for new ideas and approaches, leading to an improved performance
• Ability to interact confidently with FO and other quantitative departments of the bank in discussing pricing and modelling issues.

Essential Skills/Basic Qualifications:

• Masters in quantitative discipline or a similar qualification and/or professional qualification (e.g. CFA, FRM) is preferred.
• Minimum 10 years experience in a Valuation Control function, Product Control Line, risk management or trading role of a top tier investment bank.
• Robust experience in a Credit Valuation Control function (preferably Flow and Special Situations/Distressed products), risk management or trading role of a top tier investment bank.
• Experience and proven track record in dealing with junior and senior members of Front office, Line Product Control, Risk management teams across various locations.
• Proactive and assertive in identifying control or valuation concerns, challenging the Business and driving control improvement for their area.

Desirable skills/Preferred Qualifications:

• Strong financial product knowledge and attention to detail.
• Strong interpersonal skills and stakeholder management and ability to work independently to resolve unstructured problems. Team player.
• Strong communication skills and ability to present / explain complex issues in simple terms with stakeholders from Trading, Finance, Market Risk and IT across different levels.
• Proactive and assertive in identifying control or valuation concerns and driving control improvement for their area. Able to work under pressure to tight deadlines. Able to multi-task and prioritize own request.