At a Glance
- Tasks: Lead valuation oversight for Rates and FX products, ensuring compliance and integrity in valuations.
- Company: Join Wells Fargo, a leader in financial services with a commitment to inclusion and collaboration.
- Benefits: Competitive salary, career growth opportunities, and a supportive work environment.
- Other info: Opportunity to mentor junior team members and drive strategic initiatives.
- Why this job: Make a real impact in a dynamic global environment while working with senior stakeholders.
- Qualifications: Experience in valuation control and strong analytical skills required.
The predicted salary is between 75600 - 92400 £ per year.
About this role: As part of the continued growth of our Markets business, Wells Fargo is seeking a Lead Valuation Controller, Macro Rates & FX to join our expanding Valuation Control team. In this role, you will provide independent oversight, challenge, and governance across a broad portfolio of Rates and Foreign Exchange products, helping to ensure the integrity of fair value measurements, valuation uncertainty assessments, prudent valuation practices, and regulatory compliance. You will serve as a trusted partner to stakeholders across Trading, Market Risk, Quantitative Analytics, Finance, Product Control, and Regulatory teams, supporting robust valuation governance and informed business decision-making.
The successful candidate will bring deep expertise in Rates and FX valuation methodologies, strong knowledge of market and regulatory expectations, and the ability to manage complex valuation issues within a dynamic global environment. This role offers significant exposure to senior stakeholders and the opportunity to contribute to the ongoing enhancement of valuation methodologies, control frameworks, automation initiatives, and governance processes across the valuation control function.
You will play an important role in supporting strategic business growth by providing independent valuation oversight, driving consistency in valuation practices, and helping to strengthen the control environment across complex trading activities. At Wells Fargo, we value strong risk management, collaboration, accountability, and inclusion. You will join a team committed to delivering robust control standards while supporting business growth and fostering an environment where diverse perspectives drive better outcomes.
In this role, you will:
- Valuation & IPV
- Lead and oversee monthly IPV processes for Rates and FX trading portfolios, including Interest Rate Swaps, Swaptions, Caps/Floors, Inflation products, Cross-Currency Swaps, FX Forwards, FX Options, NDFs, Structured Products, and other derivative instruments.
- Independently validate and challenge market data inputs, including interest rate curves, SOFR discount curves, basis curves, inflation curves, FX forward curves, volatility surfaces, correlation assumptions, and liquidity adjustments.
- Review and validate curve construction methodologies, model calibrations, volatility surface development, and pricing inputs utilized by Front Office valuation models.
- Assess valuation uncertainty and oversee valuation adjustment methodologies, including Bid/Offer Valuation Adjustments, Model Valuation Adjustments (MVA), Concentration Reserves, Liquidity Adjustments, and other prudent valuation reserves.
- Support and lead Prudent Valuation (PVA) processes in accordance with applicable regulatory requirements, including valuation uncertainty calculations, Additional Valuation Adjustments (AVA), and governance standards.
- Ensure compliance with Fair Value Hierarchy (FVH) requirements, including Level 2 and Level 3 inventory assessments and associated governance.
- Investigate valuation differences, IPV exceptions, pricing disputes, and valuation control breaches in partnership with Trading, Product Control, Market Risk, and Quantitative teams.
- Risk Analytics & Reporting
- Lead strategic initiatives related to valuation analytics, IPV enhancements, prudent valuation methodologies, and control framework improvements.
- Analyse valuation trends, reserve movements, model risks, and valuation uncertainty across Rates and FX portfolios.
- Aggregate, reconcile, and report valuation metrics for senior management, valuation committees, auditors, and regulators.
- Prepare monthly IPV results, valuation adjustment reporting, prudent valuation reporting, Fair Value Hierarchy disclosures, and executive management reporting.
- Drive automation and strategic technology enhancements to improve scalability, transparency, and operational efficiency across the valuation control framework.
- Compliance & Governance
- Ensure compliance with internal valuation policies, accounting standards, prudent valuation regulations, and model governance requirements.
- Support regulatory examinations, internal audits, external audits, and valuation-related reviews.
- Maintain comprehensive documentation of IPV methodologies, valuation adjustments, prudent valuation calculations, model limitations, and control procedures.
- Partner closely with Model Risk Management and Quantitative Analytics teams to evaluate model assumptions, limitations, validation findings, and remediation plans.
- Participate in valuation governance forums, valuation committees, and product approval processes supporting new Rates and FX initiatives.
- Collaboration & Leadership
- Partner closely with Front Office Trading, Quantitative Research, Market Risk, Product Control, Finance, Treasury, and Technology teams.
- Lead valuation control initiatives supporting new products, strategic business growth, system implementations, and regulatory requirements.
- Mentor and develop junior valuation controllers while promoting best practices in valuation governance and control standards.
- Drive a culture of strong risk management, challenge, accountability, and continuous improvement across the valuation control organization.
Required Qualifications:
- Extensive experience in Valuation Control, Independent Price Verification (IPV), Product Control, Market Risk, Prudent Valuation or related financial control functions.
- Bachelor's degree in Finance, Economics, Mathematics, Engineering, Statistics, or a related quantitative discipline.
- Advanced proficiency in Excel.
- Strong understanding of rates and FX products, valuation methodologies and risk management frameworks.
Desired Qualifications:
- Familiarity with market data and valuation vendors (S&P Global (Totem), RVS, Bloomberg/Reuters).
- Proficient in Rates and FX Derivatives, with expertise in validating volatility surfaces, interest curves, correlation and Calibration methodologies, and other complex model inputs across Rates and FX Derivative products.
- Experience with Fair Value Hierarchy (FVH) and Prudential valuation governance.
- Experience working with regulatory reviews and audit functions.
- Advanced proficiency in SQL, and Python.
- Demonstrated ability to effectively challenge valuation methodologies and influence stakeholders across Trading, Risk, Finance, and Control functions.
- Experience presenting valuation matters to governance forums, valuation committees, auditors, regulators, and senior management.
- Exceptional communication and presentation skills, with the ability to engage effectively with trading desks, auditors, regulators, senior management, and global stakeholders.
Lead Valuation Controller – Macro Rates & FX in London employer: WELLS FARGO BANK
Wells Fargo is an exceptional employer that prioritises employee growth and development, offering a dynamic work culture that fosters collaboration and innovation across the EMEA, APAC, and Canada regions. With a strong commitment to operational resilience and a focus on building robust customer relationships, employees are empowered to make impactful decisions while enjoying comprehensive benefits and support for work-life balance. The company's dedication to diversity and inclusion ensures a welcoming environment where all voices are valued, making it an ideal place for those seeking meaningful and rewarding careers.
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We think this is how you could land Lead Valuation Controller – Macro Rates & FX in London
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We think you need these skills to ace Lead Valuation Controller – Macro Rates & FX in London
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