• Job Description

  Req#: R-15957941

  Bring your possibility to life! Define your career with us

  With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

  Job Summary

  Suitable candidates are expected to have 4-7 years industry experience having worked their way in a valuations control or middle office role with a top tier Investment Bank. Facing off with the trading desk candidates will need to demonstrate knowledge /experience of Price Testing, Yield Curve Analysis / Construction, Valuation Adjustments and best practice valuation methodologies. An ideal candidate should be familiar with new derivatives valuation techniques like OIS/CSA Aware Discounting, XVAs.

  Job Description

  The overall job purpose is to independently verify the appropriateness of the Fair Valuation of the fair value instruments inline with IFRS 13 requirements and give product specialist inputs to complex valuation requests and issues. Accountability: • Ensure that implications of Absa Group requirements and policies (including changes in accounting standards) are understood and communicated. Any new developments in IFRS/ accounting standards impacting valuations are being implemented. Review reporting for compliance with key external requirements and with audit requirements Accountability: Staff development and team management (20 %) • Develop staff knowledge in Valuations Control functions, technical expertise and market risk concepts • Build skills base and competences through facilitation of appropriate trainings. Manage careers of staff members. • Maintain and develop own knowledge and expertise at the leading edge of banking industry practice. • Embed formal Performance Development and informal coaching in the team. Review training needs of team members. • Establish and maintain a succession plan for the key roles in the team. Interview and recruit direct reports. • Review workforce and recruitment plans for the team and reallocate resources where required. • Demonstrates pride in the organisation's brand, services and products by consistently delivering on the brands promise • Provide measurable and specific real-time feedback to team members to ensure that daily operations are in line with agreed performance measures • Maintain a positive attitude and respond openly to feedback • Contribute to a friendly, co-operative climate in working with others to achieve collective goals • Act as escalation point for all grievances raised in the team. • Review overall team performance and provide input to consistency check meetings. Recognize the efforts of their staff members Accountability: Valuations Control Core responsibilities (70%) • Calculation and implementation of fair value adjustments of fair value adjustment calculations across all desks or product/asset class (i.e. Rates, FX, Commodities, Equities, Credit) • Price Testing • Counterparty credit risk adjustment • Bid Offer testing • Day 1 PnL • Model Risk adjustments • Challenge balance sheet numbers • Engage with the Deal Conclusion Forum (DCF) on an ad hoc basis to provide them with comfort around the model, propose market norms and identify down-the-line issues. • Sit on the Market Risk Technical Committee (MRTC) and provide an expert opinion on modelling throughout the bank
  • Maintain awareness of country specific regulations and pricing realities, as well as ensuring compliance with regulations regarding valuation and reserving; analyse and research relevant products; and stay relevant and up to date with legislations and new development • Build and maintain professional working relationships with all stakeholders, displaying excellent abilities to initiate dialogue, listen, advise, influence, and negotiate to achieve winwin outcomes. • Preserves relationships despite airing conflicting views and seeks mutual gains when addressing conflicts • Anticipates consequences and adapts problem solving based on continual feedback • Act speedily to resolve problems, queries and complaints • Adapt communication styles to meet the needs of different audiences • Innovation : Investigate new and better ways to enhance e processes by measuring the effectiveness of all procedures. • Plan and manage own workflow, anticipating obstacles, juggling priorities and following through on objectives within agreed timeframes and according to quality standards • Take ownership of personal career development, leveraging formal and informal opportunities • Continually share, debate and communicate learning's • Assist with Projects and Firm wide initiatives • Interaction with Key Stakeholders: • Interaction with various areas across the Absa in order to obtain and understanding of the impact these areas have on Valuations Control as well as providing both formal reporting as well as ad hoc query resolution to these areas. Areas include: o Absa CIB Finance & ARO Finance, including Financial Control and Financial Decision Support. o Absa CIB & ARO Front Office o Absa Group Product Control line support: Provide technical valuation assistance to the product controllers on each desk to ensure that all valuations control requirements are optimally met. Complex trade reviews: Prepare complex trade reviews across various products and desks
  Education and Experience Required • Post-graduate qualification in Mathematical Finance or another quantitative discipline • 7+ year's financial services, preferably banking experience Technical Knowledge • Sound knowledge of financial instruments and the pricing principles underlying these • Financial modelling • Proficient in Microsoft Office with advanced Excel • 5+ years financial services, preferably banking experience

  Education

  Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required)

  Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

  Absa Bank Limited reserves the right not to make an appointment to the post as advertised

• About the company

  Absa Group Limited, and originally Amalgamated Banks of South Africa, is a South African-based financial services group, offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management, as well a...

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