Snr. Controller Valuations

2 weeks ago

Sandton, South Africa Absa Bank Limited Full time
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

The job is to lead sub teams with the Independent Valuation Control Team as a Line Controller

Job Description:


The Group trades multiple financial instruments and products that are held at fair value either through profit and loss or through equity (available for sale).

A key control requirement is to ensure they are carried at the best and most appropriate fair value supported by as much external and internal information as is available The core responsibility of the role is to ensure a robust control process exists around the Groups inputs to fair valuation of those assets and liabilities.


The role is to be a senior in the team and be a senior member of the Product control management team that informs the direction of Product Control Team a sub department of Finance CIB.

This requires strong communication and influencing skills particularly at senior levels in the firm.

Key Accountabilities:

Accountability:
Compliance with Absa Group requirements and accounting policies

  • Ensure that implications of Absa Group requirements and policies (including changes in accounting standards) are understood and communicated.
  • Ensure any new developments in IFRS/ accounting standards impacting valuations are being implemented.
  • Reporting for compliance with key external requirements and with audit requirements
  • Ensure compliance with regulatory, accounting and legal requirements.
  • Continuously consider risk mitigation and control operational effectiveness
  • Identify and review all areas with Material Valuation and Model Risks
  • Clearly understand the weaknesses of market data, valuation techniques and models used

Accountability:
Independent Valuation Control

  • Calculation and implementation of fair value adjustments across all desks or product/asset class (i.e. Rates, FX, Commodities, Equities, Credit)
  • Price Testing of used valuation inputs through sourcing and use of disparate data sources
  • Understanding of and verification for Counterparty credit risk adjustments made
  • Verification of the Bid Offer reserve to mark books to their exit price per IFRS 1
  • Calculation of and authorisation for Day 1 PnL adjustments for unobservable inputs
  • Review and authorisation of Model Risk adjustments,
  • Escalate all material issues to the Head of Product Control
  • Provide technical valuation support to the Front Office, Product Controllers and Senior Management.
  • Knowledge of CSA/OIS discounting framework
  • Understanding of industry level XVA's and their specific implementation within Absa
  • Involvement in and sign off for New product approvals
  • Attendance and active participation at the valuation governance and related control committees

Accountability:
Management and Leadership

  • Recognized as an expert in their discipline. Deep technical knowledge.
  • Continually delivering process improvement and challenging the status quo.
  • Proactively transfers knowledge to the team. Mentors line managers to ensure technical knowledge is cascaded.
  • This includes but is not limited to:
  • Direct, manage and drive the performance of the team
  • Manage a team of controllers (analysts/AVP's) to ensure a high level of client service
  • Handson approach coupled with proactive leadership skills and the ability to delegate effectively
  • Maintain a focus on talent management, development, resourcing and retention.
  • 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.
  • Associated people management administration
  • Review overall team performance and provide input to consistency check meetings.
  • Recognize the efforts of their staff members
  • Understands and complies with all applicable governance, compliance and risk policies and procedures
  • Fosters an atmosphere of compliance, ensures regulations are observed, and puts relevant processes in place for staff to escalate problems
  • Accountable for implementation of Group's risk control framework for area of responsibility
  • Thoroughness, rigor and attention to detail with regard to products, processes and controls

Accountability:
Commercial effectiveness

  • Excellent understanding of own field. Uptodate with relevant sector/department knowledge, and has insight into external market developments/initiatives
  • Demonstrates credibility and confidence when dealing with those outside function.
  • Networks effectively in the market
  • Is able to look at information with

  • Valuation Controller

    3 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    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 **Job...

  • Valuation Controller

    3 days ago

    Sandton, South Africa Absa Bank Limited Full time

    Empowering Africa’s tomorrow, together one story at a time. - 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...

  • Valuation Controller

    2 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    Empowering Africa's tomorrow, together one story at a time. 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 SummaryJob...

  • Derivatives Valuations Controller

    4 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    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 Facing...

  • Derivatives Valuations Controller

    2 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    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 SummaryFacing off...

  • Quantitative Analyst

    3 weeks ago

    Sandton, South Africa Efficient Frontier Recruitment Full time

    Well-known and respected financial services firm has a challenging opportunity available for an **experienced** Quant with an expert-level understanding of the **valuation and pricing of financial instruments** across all asset classes and markets. The individual will be responsible for ensuring the accurate determination and daily provision of financial...

  • Quantitative Analyst Cib Finance Valuations

    3 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    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 Facing...

  • Valuation Controller

    2 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    Empowering Africa’s tomorrow, together one story at a time. - 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 To...

  • Valuation Controller

    2 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    Empowering Africa's tomorrow, together one story at a time. 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 SummaryTo...

  • Inventory Controller

    1 week ago

    Sandton, South Africa Mastech General Trading Full time

    **Experience with SAP** - Proficient in using the Microsoft Office programs and advanced excel skills - Accounting (Current IFRS requirements) related to inventory accounting - Knowledge of the Income Tax Act related to inventory - Attention to detail - Good interpersonal skills - communicates appropriately and considers the counterparts’ level of...

  • Senior Traded Market Risk Analyst

    1 week ago

    Sandton, South Africa Absa Bank Limited Full time

    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 **Job...

  • Market Risk Analyst

    7 days ago

    Sandton, South Africa Absa Bank Limited Full time

    Empowering Africa’s tomorrow, together one story at a time. - 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 To...

  • Senior Actuarial Specialist

    24 hours ago

    Sandton, South Africa Hollard Recruitment Full time

    To support the various deliverables of Hollard Life valuations team related to providing published valuation results, including but not limited to providing monthly/quarterly published valuation results while monitoring the actual experience versus the expected experience of the supported business units.To mentor / guide and review work of other members of...

  • Line Controller Product Control

    2 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    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 To...

  • Line Controller

    4 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    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 An...

  • Market Risk Analyst

    2 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    Empowering Africa's tomorrow, together one story at a time. 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 SummaryTo...

  • Senior Traded Market Risk Analyst

    2 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    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 SummaryJob...

  • Professional Property Valuer

    2 weeks ago

    Sandton, South Africa Ability Recruitment Full time

    Permanent JHB00277 Property Gauteng, Sandton R R Annually Cost To Company The main purpose of this position is to visit properties in order to appraise their value, offer client advice and assess each opportunity. REQUIREMENTS: Registered as a Professional/Associate Valuer with the South African Council for the Property Valuation profession. At least 1 year...

  • Controller Product

    3 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    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 To...

  • Market Risk Analyst

    3 weeks ago

    Sandton, South Africa Absa Bank Limited Full time

    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 The...