At a Glance
- Tasks: Lead valuation oversight and governance for Rates and FX products, driving improvements in methodologies.
- Company: Join Wells Fargo, a global leader in financial services with a commitment to innovation.
- Benefits: Competitive salary, comprehensive benefits, and opportunities for professional growth.
- Other info: Dynamic role with mentorship opportunities and a focus on continuous improvement.
- Why this job: Make a significant impact on valuation practices while collaborating with diverse teams.
- Qualifications: Experience in Valuation Control and a degree in Finance or related fields required.
The predicted salary is between 51750 - 63250 £ per year.
In this role you will provide independent oversight and governance of fair value measurements and valuation controls across Rates and FX products. You will partner with Trading, Market Risk, Quantitative Analytics, Finance, Product Control, and Regulatory teams to strengthen valuation governance, improve automation, and support strategic growth. The role combines technical valuation expertise with risk management, regulatory compliance, and cross-functional leadership in a global environment. You will influence senior stakeholders and drive improvements in valuation methodologies and control frameworks. This is a high-impact position at Wells Fargo focused on robust valuation practices.
Responsibilities
- Lead and oversee monthly IPV processes for Rates and FX trading portfolios (e.g., Interest Rate Swaps, Swaptions, Caps/Floors, Inflation products, Cross-Currency Swaps, FX Forwards, FX Options, NDFs, Structured Products)
- Independently validate and challenge market data inputs (rate curves, SOFR discount curves, basis curves, inflation curves, FX forward curves, volatility surfaces, liquidity adjustments)
- Review and validate curve construction methodologies, model calibrations, volatility surface development, and pricing inputs used by Front Office valuation models
- Assess valuation uncertainty and oversee valuation adjustment methodologies (Bid/Offer Valuation Adjustments, MVA, Concentration Reserves, Liquidity Adjustments, other prudent valuation reserves)
- Support and lead Prudent Valuation (PVA) processes, including AVA and governance standards
- Ensure compliance with Fair Value Hierarchy (FVH) requirements, including Level 2 and Level 3 inventory governance
- Investigate valuation differences, IPV exceptions, pricing disputes, and valuation control breaches with Trading, Product Control, Market Risk, and Quantitative teams
- Lead strategic valuation analytics and IPV enhancements, and drive control framework improvements
- Analyse valuation trends, reserve movements, model risks, and uncertainty across Rates and FX portfolios
- Aggregate, reconcile, and report valuation metrics for senior management, committees, auditors, and regulators
- Drive automation and technology enhancements to improve scalability, transparency, and efficiency of valuation control
- Ensure compliance with internal valuation policies, accounting standards, prudent valuation regulations, and model governance requirements
- Support regulatory examinations, internal and external audits, and valuation-related reviews
- Maintain documentation of IPV methodologies, valuation adjustments, prudent valuation calculations, model limitations, and control procedures
- Partner with Model Risk Management and Quantitative Analytics to evaluate model assumptions, limitations, validations, and remediation plans
- Participate in valuation governance forums, valuation committees, and product approval processes for new Rates and FX initiatives
- Collaborate with Front Office Trading, Quantitative Research, Market Risk, Product Control, Finance, Treasury, and Technology
- Lead valuation control initiatives for new products, system implementations, and regulatory requirements
- Mentor junior valuation controllers and promote best practices in governance and control standards
- Foster a culture of risk management, accountability, and continuous improvement across valuation control
Key requirements
- Extensive experience in Valuation Control, IPV, Product Control, Market Risk, Prudent Valuation or related financial control functions
- Bachelors 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
- Exceptional communication and presentation skills
- Ability to challenge methodologies and influence stakeholders
- Cross-functional collaboration and stakeholder management
- Excel (advanced)
- SQL
- Python
Lead Valuation Controller – Macro Rates & FX employer: Wells Fargo
Wells Fargo is an exceptional employer, offering a dynamic work environment in the heart of London where innovation meets compliance. Employees benefit from a strong culture of teamwork and integrity, with ample opportunities for professional growth and development within a globally recognised financial institution. The bank prioritises employee well-being and fosters a collaborative atmosphere that encourages diverse perspectives, making it an ideal place for those seeking meaningful and rewarding careers in compliance and operational risk management.
