At a Glance
- Tasks: Calculate Independent Price Verification and Valuation Adjustments for interest rate derivatives.
- Company: Join RBC, a leading global bank with a collaborative culture.
- Benefits: Competitive salary, bonuses, flexible benefits, and world-class training.
- Other info: Dynamic team environment with excellent career growth opportunities.
- Why this job: Make a real impact in finance while working with top professionals.
- Qualifications: Strong understanding of derivatives and valuation processes required.
The predicted salary is between 60000 - 80000 £ per year.
You will be responsible for performing Global Structured Rates IPV (Independent Price Verification) and Valuation Adjustments (VAs) across a wide range of Interest Rates derivatives positions. You will be working with the Trading 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. This position is full time and will require 4 days in the office.
What will you do?
- Play a role in the calculation of IPV and other VAs across a wide range of derivative positions for the Global Structured Rates businesses within RBC Capital Markets.
- Play a key role in the production and implementation of methodology for VAs.
- Provide detailed reports and analysis on IPV/VA results to Business Heads, Senior Management, Valuations and Risk committees, Market Risk and Finance.
- Ensure that existing VA/IPV processes continue to be aligned and keep pace with the business, Regulator and Accounting Best Practice.
- Ensure that all VA/IPV processes are complete and follow RBC's risk policies and procedures, including identification and escalation of appropriate improvements.
- Ensure process documentation is up-to-date and adhered to.
- Carry out other related valuations responsibilities relevant to Structured Interest Rates, such as Levelling, Prudential Valuations (AVA) calculations, and Large Day 1 P&L investigations.
- Follow EUC (End User Computing, e.g., Cluster Seven) practices.
- Provide subject matter expertise on various valuations related projects and initiatives, as required, including ad hoc management and/or regulatory reviews and new business initiatives.
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.
- Experience of calculation of IPV and valuation adjustments.
- A good understanding of financial products and their valuations: interest rates vanilla and exotics derivative products (including interest rate swaps, FRAs, CMS Swaps, CMS Spreads, cap-floor, swaptions, basis swaps, cross currency swaps, callable swaps, and structured products).
- A developed understanding of P&L calculations for businesses that trade these products; understanding of control processes such as IPV and Valuation Adjustments (reserves).
- Experience of creating or overseeing professional reports, including written commentary, to fixed deadlines for business and 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, ideally 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.
Valuation Manager, Structured Rates Valuations - Product Control in London employer: Royal Bank of Canada
RBC is an exceptional employer that fosters a dynamic and collaborative work environment, where employees are encouraged to reach their full potential. With a comprehensive Total Rewards Program, world-class training in financial services, and strong leadership support for professional development, you will have the opportunity to make a meaningful impact while working alongside some of the best in the industry in the heart of London.
StudySmarter Expert Advice🤫
We think this is how you could land Valuation Manager, Structured Rates Valuations - Product Control in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance world, especially those who work with structured rates or valuations. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Prepare for interviews by brushing up on your technical knowledge of derivatives and valuation adjustments. Be ready to discuss specific products like interest rate swaps and swaptions, as well as your experience with IPV calculations.
✨Tip Number 3
Showcase your analytical skills! Bring examples of reports you've created or analyses you've conducted to the interview. This will demonstrate your ability to communicate complex information clearly to senior management.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you're serious about joining our team at RBC.
We think you need these skills to ace Valuation Manager, Structured Rates Valuations - Product Control in London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Valuation Manager role. Highlight your experience with derivatives and valuation adjustments, as well as any relevant technical skills. We want to see how your background aligns with what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about structured rates valuations and how your skills can contribute to our team. Keep it concise but impactful – we love a good story!
Showcase Your Technical Skills:Since this role requires strong technical understanding, make sure to mention your experience with financial products and any relevant software like Excel or Python. We’re keen on candidates who can hit the ground running!
Apply Through Our Website:Don’t forget to apply through our website! It’s the best way to ensure your application gets into the right hands. Plus, it shows us you’re serious about joining our team at RBC.
How to prepare for a job interview at Royal Bank of Canada
✨Know Your Derivatives
Make sure you brush up on your knowledge of both vanilla and exotic interest rate derivatives. Be prepared to discuss specific products like swaps, FRAs, and swaptions, as well as their valuation methods. This will show that you have the technical understanding needed for the role.
✨Master the IPV and VAs
Understand the Independent Price Verification (IPV) and Valuation Adjustments (VAs) processes inside out. Be ready to explain how you’ve calculated these in previous roles and how you ensure compliance with risk policies. This will demonstrate your capability to maintain strong second line control.
✨Communicate Effectively
Practice articulating complex financial concepts clearly and concisely. You’ll need to liaise with various stakeholders, so being able to communicate your findings and analyses effectively is crucial. Consider preparing a few examples of reports or presentations you've created in the past.
✨Show Your Team Spirit
This role involves working closely with a small team and other departments. Highlight your experience in collaborative environments and how you’ve contributed to team success. Share examples of how you’ve managed or supported team members to achieve common goals.
