CIB Office of the CFO - VCG Credit Trading - Associate - Hong Kong

J.P. Morgan
Hong Kong
18 Sep 2018
20 Sep 2018
Contract type
Full time
Department Description

Valuation Control Group (VCG) is an independent group within the Office of CFO whose primary responsibility is to ensure that the firm's risk portfolios are fairly valued. The group sets independent pricing and valuation adjustments policies. VCG highlights concentrations in risk and uncertainties in parameter inputs and works with the trading and quantitative groups to fully understand their implications from a risk/return perspective and the impact on the desk's level of reserving. In addition, VCG is responsible for the review of approximately loaded trades, high level risk / P&L analysis, approval of new products, and model releases.

VCG is organized along business lines including, IB Risk, Credit, Rates, Equities, Emerging Markets, Securitized Products, Principal Investments FX & Commodities. Stakeholders of the group include senior management, business heads, regulators, and both internal and external audit. The group also works closely with the Traders, CFOs, Market Risk, and Middle Office to ensure a complete understanding of business issues and the accurate execution of valuation policy.

Job Description

The candidate will be based in Hong Kong. There are two main components of this role: (1) Support the valuation control function for Credit business covering a range of Credit derivatives, Securities and loans (2) Track and coordinate across LOBs on key deliverables for various regulatory and control-related requests

BAU coverage
  • Fair value adjustments and independent price testing execution, methodology review and documentation
  • Analysis of markets, P&L & Risk with understanding of the factors that drive valuation and risk
  • Highlight concentration, liquidity, uncertainty in valuation as well as price variances to Front Office and Finance management
  • Review of concentrated/illiquid positions, complex/approximately loaded transactions affecting valuation
  • Enhance existing control framework including reviewing independent pricing processes, assessing potential coverage developments and implementing new tools to enhance control efficiency
  • Working with Trading, QR, Middle Office, MRM, Finance and Model Review to continually monitor the various valuation risks of the business and implement appropriate adjustments

Regulatory / Controls
  • Work with the VCG Business Management Office to provide 'air-traffic-control' of all VCG regulatory demands and deliverables within the region
  • Partner with VCG Regulatory Leads to understand requests, centrally tracking requests and information sent to regulators, execute requests and keeping VCG management updated on key deliverables and timelines
  • Support VCG management and execution of SOX, CSA, errors / deficiencies, metrics / scorecards, spreadsheet control, track/monitor resolution of action plans


  • Experience with rates and credits products in Finance/Risk-related fields. Analytical and quantitative aptitude
  • Good existing knowledge of Asia Credit markets in general
  • Understanding of valuation concepts in credits products and related accounting knowledge
  • Track record of dealing with Front Office and coordinating with other control groups
  • Strong communications skills and be comfortable interfacing senior management on regulatory agenda
  • Keen eye for potential control deficiencies and desire/ability to rectify
  • Advanced Excel skills. VBA is a plus

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