Valuation Control Group Regulatory and Audit Subject Matter Expert, Vice President

Are you looking for a career move that will put you at the heart of a global financial institution? Then bring your skills in analysis, problem solving and communication to Citi’s Finance Team. By Joining Citi, you will become part of a global organisation whose mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress.

Team/Role Overview

We are seeking an outstanding candidate to join the Global Regulatory and Audit Team within the Valuation Control Group ‘VCG’ for Citi, reporting into the Global Regulatory and Audit Lead for VCG. The Valuation Control Group ‘VCG’ is a cornerstone of Citi Controllers. VCG is responsible for the independent valuation control of Citi’s traded inventory, as well as other areas where fair value principles need to be applied, such as PRA/ECB Prudent Valuation requirements. The group is organised into global product aligned teams and specialised functions such as Reporting, Valuation Methodology & International, and Design & Execution.

The key responsibilities of the group are to perform the independent price verification for traded inventory, calculate valuation adjustments, ensure appropriate valuation governance, and conduct new trade reviews. The Valuation Methodology & International team is a specialised function within VCG and one which is crucial and highly influential, and key to our strategic success.

The responsibilities of the team are to:

• Ensure Citi has the most appropriate and complete valuation control framework across all areas of price verification, valuation adjustments and wider valuation governance. This includes all aspects of overarching Policy, Standards, Procedures and Methodologies, covering both accounting and regulatory requirements.
• Lead the department in its US and International regulatory engagements and exams, as well as managing external and internal audits, and any remediation efforts.
• Ensure there is strong oversight of valuation controls across all International legal entities, along with the associated regulatory responsibilities, working in close partnership with local controllers and our wider legal entity stakeholders.

The VCG Global Regulatory and Audit Team sits within the Valuation Methodology & International team. This team is required to adapt to a wide-ranging and evolving regulatory and audit landscape, including known valuation control issues, but also areas of changing and emerging market practice. The team partners with the broader Methodology and International team, and the department, to investigate these issues, provide thought-leadership to senior management on their resolution, and provide advice on how to address them.

The individual will support the Global Regulatory and Audit Lead for VCG by managing a wide ranging and varied book of work, including issue remediation plans, as well as implementing appropriate governance and oversight of those issues. As part of this agenda, the individual will be required to improve and maintain strong relationships with its key stakeholders, internal and external (e.g. Internal and External Audit, Regulators).

What you’ll do

• Regulatory: Managing a wide ranging and varied book of work, including issue remediation plans and implementing appropriate governance and oversight of those issues. Provide practical guidance on implementing appropriate controls.
• Control Framework: Support control improvements, considering how multiple regulatory, audit and self-identified control concerns should be managed and prioritised. Provide effective challenge to the department.
• Governance: This individual must be able to understand how to implement strong and effective governance.
• Flexibility & Adaptability: The priorities of this individual will be set by Global Regulatory and Audit Lead for VCG, and this individual will be expected to manage those priorities appropriately. There will be crucial deadlines that will need to be achieved. Adaptability to changing circumstances is crucial, as the prioritisation of responsibilities will need to evolve with changing circumstances.

What we’ll need from you

• Experience in a valuation, risk, or product control related discipline.
• Experience within valuation or risk control departments, including involvement in valuation, regulatory, audit & governance issues.
• Strong understanding of audit methodologies, current global accounting and regulatory standards and developments pertaining to valuation of financial instruments.
• Proven multi-discipline, cross-product knowledge.
• Bachelor’s degree/University degree or equivalent experience. Master’s Degree preferred. Exceptional candidates who do not meet these criteria may be considered for the role provided they have the necessary skills and experience.

Skills:

• Drives Value for Clients: Trusted partner, drive innovation, anticipates, demonstrates understanding of expectations and needs.
• Work as a Partner: Works collaboratively across the organisation, treats people with respect.
• Champions Progress: Pushes for culture of high standards, assists in executing the vision set forth by Senior Management and is responsive to changes in environment.
• Lives Citi Values: Sets the standards for the highest integrity in every decision, has the courage to always do what is right and the humility to learn from mistakes.
• Delivers Results: Exercises independence of judgement and significant autonomy, sets high standards and achieves performance objectives, prioritises and provides clear line of sight to most critical work.
• Product Technical Knowledge: Good understanding of industry valuation control practices for different products.
• Control Mind-set: Demonstrates a strong leadership and focus on control, ensuring integrity of reporting and independence of controls associated with a valuation control function.
• Strong Influencing and Presenting Skills: Ability to communicate and deliver key messages to senior audience, consistently demonstrates clear and concise written communication.

What we can offer you

This is a fantastic opportunity for a Finance professional to grow their career, a key role requiring regular interaction with internal and external stakeholders, allowing for significant networking, advisory and partnership opportunities. We work hard to have a positive financial and social impact on the communities we serve. In turn, we put our employees first and provide the best-in-class benefits they need to be well, live well and save well. By joining Citi London, you will not only be part of a business casual workplace with a hybrid working model (up to 2 days working at home per week), but also receive a competitive base salary (which is annually reviewed), and enjoy a whole host of additional benefits such as:

• Generous holiday allowance starting at 27 days plus bank holidays; increasing with tenure.
• A discretional annual performance related bonus.
• Private medical insurance packages to suit your personal circumstances.
• Employee Assistance Programme.
• Pension Plan.
• Paid Parental Leave.
• Special discounts for employees, family, and friends.
• Access to an array of learning and development resources.

Alongside these benefits, Citi is committed to ensuring our workplace is where everyone feels comfortable coming to work as their whole self every day. We want the best talent around the world to be energised to join us, motivated to stay, and empowered to thrive. Sounds like Citi has everything you need? Then apply to discover the true extent of your capabilities.