Manager, Valuations – Commodities

TD•Toronto, ON

1d•CA$96,900 - CA$136,800•Hybrid

About The Position

Within Controller & Chief Accountants in Finance, the Valuations & Product Control team supports TD Securities and is responsible for providing overall end-to-end accountability for the completeness, accuracy, and timeliness of Independent Price Verification (IPV) and Valuation Adjustment (VA) processes. Product Control is the primary point of contact on P&L, Balance Sheet, Attribution, Independent Pricing Verification, and Valuation Adjustments reporting and initiatives, exercising an in-depth understanding of the products, valuations, and risks of the business. The Commodities Valuations team plays a critical role in ensuring the integrity of financial reporting by leveraging robust market data sources, valuation methodologies, and quantitative techniques to validate the fair value of physical and financial commodity products across trading desks and businesses. As a Valuations Manager covering Commodities, you will: Oversee and manage a team responsible for conducting IPV and valuation adjustment processes across commodities trading businesses, including energy and metals Ensure effective governance, financial control, and process efficiency in the delivery of IPV and VA, including observability analysis, broker and exchange price testing, curve and surface validation, and fair value hierarchy classification. Lead initiatives to enhance commodities IPV methodologies and tools to reflect evolving market conditions, product structures, liquidity profiles, and regulatory expectations. Build strong partnerships with commodities trading desks, market risk, finance, technology, model validation, and operations teams to ensure a sound understanding of valuation risks, price sources, curve construction, and modeling approaches. Act as a subject matter expert and escalation point for commodities IPV-related matters, providing leadership and guidance on valuation matters for exchange-traded, OTC, and structured commodity products. Provide oversight of documentation and internal control processes supporting IPV and valuation adjustment policy compliance, including methodology documentation, price source hierarchy, stale price assessment, and evidence of independent challenge. Contribute to the development and enhancement of automated tools, controls, and dashboards used in commodities IPV, valuation adjustments, market data quality review, and fair value reporting; advocate for technology-led improvements. Ensure effective response to internal and external audit, control partners, and regulatory inquiries related to commodities valuation controls, IPV methodology, data observability, and valuation adjustment governance. Monitor emerging trends and developments in regulatory valuation standards (IFRS 13, FRTB, OSFI guidelines) and assess their impacts on commodities IPV frameworks, fair value hierarchy conclusions, and valuation adjustment practices. Support new product assessments by integrating commodities valuation controls and IPV considerations early in the product lifecycle, including identification of independent price sources, model dependencies, liquidity considerations, and operational control requirements.

Requirements

Strong knowledge of commodities products, including physical and financial energy, metals, commodity futures and options, swaps, forwards, structured commodity transactions, and commodity-linked derivatives.
Prior experience in valuations, IPV, product control, market risk, or trading support within capital markets, ideally with direct exposure to commodities businesses.
Prior experience leading or mentoring high-performing teams, with the ability to develop technical valuation capability and strengthen control discipline.
In-depth understanding of fair value measurement, market observability, valuation adjustments, curve and surface construction, market data hierarchy, and financial reporting controls.
Demonstrated success in leading or contributing to commodities valuation control change initiatives, methodology enhancements, market data improvements, and technology implementations.
Strong stakeholder management skills, with the ability to collaborate and influence across trading, risk, finance, technology, operations, and model validation functions.
Ability to manage multiple deliverables in a fast-paced, evolving environment, including month-end valuation controls, audit requests, methodology reviews, and new product onboarding.

Nice To Haves

Undergraduate or graduate degree in Finance, Accounting, Engineering, Mathematics, Physics, Computer Science, or other quantitative disciplines.
Pursuit or completion of professional designation (CFA, CPA, FRM) is an asset.
Experience with Python or other coding tools for financial analysis and process automation is a strong asset.
Familiarity with valuation systems, market data platforms (e.g., Bloomberg, Refinitiv), broker/dealer price sources, exchange settlement data, general ledger (GL), and ERP systems.
7+ years of related experience, ideally with exposure to commodities valuation processes and related product control, risk, or market data control frameworks.

Responsibilities

Oversee and manage a team responsible for conducting IPV and valuation adjustment processes across commodities trading businesses, including energy and metals
Ensure effective governance, financial control, and process efficiency in the delivery of IPV and VA, including observability analysis, broker and exchange price testing, curve and surface validation, and fair value hierarchy classification.
Lead initiatives to enhance commodities IPV methodologies and tools to reflect evolving market conditions, product structures, liquidity profiles, and regulatory expectations.
Build strong partnerships with commodities trading desks, market risk, finance, technology, model validation, and operations teams to ensure a sound understanding of valuation risks, price sources, curve construction, and modeling approaches.
Act as a subject matter expert and escalation point for commodities IPV-related matters, providing leadership and guidance on valuation matters for exchange-traded, OTC, and structured commodity products.
Provide oversight of documentation and internal control processes supporting IPV and valuation adjustment policy compliance, including methodology documentation, price source hierarchy, stale price assessment, and evidence of independent challenge.
Contribute to the development and enhancement of automated tools, controls, and dashboards used in commodities IPV, valuation adjustments, market data quality review, and fair value reporting; advocate for technology-led improvements.
Ensure effective response to internal and external audit, control partners, and regulatory inquiries related to commodities valuation controls, IPV methodology, data observability, and valuation adjustment governance.
Monitor emerging trends and developments in regulatory valuation standards (IFRS 13, FRTB, OSFI guidelines) and assess their impacts on commodities IPV frameworks, fair value hierarchy conclusions, and valuation adjustment practices.
Support new product assessments by integrating commodities valuation controls and IPV considerations early in the product lifecycle, including identification of independent price sources, model dependencies, liquidity considerations, and operational control requirements.