CFO Valuation Specialist - Global Markets and International Finance

Bank of America•New York, NY

9d•$169,000 - $246,000•Onsite

About The Position

This job is responsible for establishing the valuation control methodologies for complex portfolios of instruments and risks. Key responsibilities include price testing, valuation adjustment, and PruVal methodology development determining valuation uncertainty reporting and metrics, monitoring pricing and liquidity risk, and escalating issues. Job expectations include partnering with Product Finance Control teams, Front line, model developers and validation teams, implementing new models, challenging price testing methodologies, and driving the development of new methodologies. Within the CFO Group, The Global Valuation Group (GVG) at Bank of America provides valuation and independent price verification (IPV) support covering the Global Banking and Markets Business. This position will be covering Securitized Products, Credit Products, Distressed Credit, Commercial Real Estate, Municipals and Leveraged Finance, but not limited to these areas. GVG is a cross-asset class group supporting the organizations Valuation Control and we value deep experiences across multiple products/sectors.

Requirements

Minimum of 5 years' experience in a large financial services organization performing valuation control, and/or risk management and/or model development
Bachelor’s degree in Business, Finance, Engineering, Mathematics, Statistics or related field.
Able to leverage a combination of quantitative knowledge of financial markets and products with a practical understanding of pricing and risk management techniques to critically evaluate the results of valuation control procedures

Nice To Haves

Experience in creating and enhancing independent product valuation methodologies focused on Credit, XVA (CVA, FVA, DVA), structured notes or Commodities
Ability to leverage a combination of quantitative knowledge of financial markets and products with a practical understanding of pricing and risk management techniques to critically evaluate the results of valuation control procedures
Knowledge of market data calibration methodologies and the associated model control framework (development, enhancement, and maintenance)
Knowledge of Prudential Valuation regulation and its implementation
Programming skills (e.g., python) with ability to design, develop and automate
Professional communication skills with ability to communicate complex issues in a simple manner especially for senior stakeholders or regulators
Prior experience influencing and collaborating with stakeholders across functions/divisions.
Master’s degree in Business, Finance, Engineering, Mathematics, Statistics or related field.

Responsibilities

Develops and enhances technical valuation policies and standards, improving methodology, documentation, and Valuation Controls (VCs)
Conducts technical analysis of existing methodology development, VC execution, reporting, and governance processes, identifying areas of improvement for VC areas in scope including Independent Price Verification (IPV), IPV & Fair Value Hierarchy Classification, Fair Value Adjustments, Valuation Uncertainty metrics and Prudent Valuation Adjustments
Drives improved controls over proxy data, overrides, calibration error, model risk, and untested parameters/risks while improving valuation uncertainty metrics, market data back testing, and governance
Collaborates with Traders, Market Risk, Model Risk Management, Front Office Quants, Product Controllers, and senior managers on valuation related matters while communicating complex valuation matters to senior management, Auditors, and Regulators
Defines Fair Value Hierarchy classification and substantiation approaches, such as creating the framework for products risks, and portfolios
Performs data analytics to better understand valuation uncertainty, independent data quality, liquidity, observability, and trends
Leads strategic projects supporting valuation analytics and architecture