Associate Director - Structured Rates Valuations, Product Control Valuations (London)

You will be responsible for leading Global Structured Rates IPV (Independent Price Verification) Team. You will be working with the Desk, Quants, Market Risk, Valuations Methodology and Senior Management to facilitate expanding business by maintaining strong second line control and governance within the CFO Group. You will be heavily involved in maintaining IPV Valuations Models and driving automation within your area. This position is full time and will require 4 days in the office.

What will you do?

• Lead the control function to perform IPV (Independent Price Verification) and other Valuation Adjustments across a wide range of mainly derivative positions for the Global Structured Rates businesses within RBC Capital Markets.
• Play a key role in the production and implementation of methodology for Valuation Adjustments relating to the Structured Rates business.
• Provide detailed reports and analysis on IPV/VA results to senior managers, business heads, Valuations and Risk committees, and Heads of Valuations, Market Risk and Finance.
• Manage a team of 2/3 strong individuals.
• Ensure that existing VA/IPV processes continue to be aligned and keep pace with the business, and Regulator and Accounting Best Practice.
• Ensure that all VA/IPV processes are complete and follow RBC's risk policies and procedures. Identify and escalate appropriate improvements.
• Provide significant subject matter expertise on various valuations related projects and initiatives, including ad hoc management and/or regulatory reviews and new business initiatives.
• Review IPV and Reserve calculations and reports produced by the team.
• Maintain effective working relations with the regional Heads of businesses.
• Ensure process documentation is up to date and adhered to.
• Ensure other related valuations responsibilities relevant to IR structured products are carried out.
• Lead on ongoing enhancements and development of the control environment; applying an awareness of accounting and regulatory constraints.
• Provide pro-active input into valuation related projects, regulatory reviews and new business initiatives.
• Ensure the team follows EUC (End User Computing, e.g., Cluster Seven) practices.

What do you need to succeed?

• Must-have
• Strong Technical understanding of derivatives and their valuation, including vanilla and exotic interest rate derivatives.
• Relevant experience in a Product Control role focusing on Structured Products is an advantage.
• Management experience, or well established in a senior role within a team.
• Experience of IPV and reserve calculations.
• A good understanding of financial products and their valuations: vanilla derivative products (including futures, interest rate swaps, FRAs, basis swaps, cross currency swaps and structured products).
• A developed understanding of P&L calculations for businesses that trade these products.
• A developed understanding of the purpose of control processes such as IPV and Valuation Adjustments (reserves).
• Experience of creating or overseeing professional reports, including written commentary, to fixed deadlines and for business or senior management consumption.
• Ability to communicate and liaise confidently and effectively with junior and senior members of all areas including the business (Front Office), and external vendors, using written and oral methods.
• Ability to work to tight deadlines in a pressured environment.
• Ability to work well in a small team and in conjunction with other staff members of all levels from various functional areas.
• Strong background in mathematics and/or IT.
• Solid understanding of pricing methodologies.
• Ability to produce clear, concise, and well written documents.
• Practical IT experience (e.g., Excel and/or VBA, Python).
• Familiarity with market data platforms and analytical tools including Bloomberg, Reuters, and Markit/Totem.
• Educated to degree level or similar/equivalent in a numerical subject. ACA/CFA/CQF will be an advantage.
• Nice-to-have
• Advanced mathematical and financial product pricing skills.
• Strong Python Skills.
• Awareness of key balance sheet and capital metrics.
• Would suit an outward looking individual with an interest in financial products and good technical skills.

What is in it for you?

• A comprehensive Total Rewards Program including bonuses, flexible benefits and competitive compensation.
• Leaders who support your development through coaching and managing opportunities.
• Opportunities to work with the best in the field.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• A world-class training program in financial services.

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.