Bank of Ireland

Head of Valuations, Markets and Treasury

Dublin, Ireland
17 Jun 2019
24 Jun 2019
Approved employers
Approved employer
Contract type
Full time
Experience level

Division Description

The Finance & Accounting Division is made up of a number of core finance teams both at business unit and Group level. We perform a key management and control function in ensuring all Group financial and management reporting processes are appropriately governed. The Finance Division has overall responsibility for driving the Group budgeting and forecasting process, developing Group-focused financial insight and analysis and delivering the Group's statutory, regulatory and external reporting. We do this through collaborative business partnering in each of the Divisions and with centralised Finance shared / specialist services.

Description of business unit

Global Markets (GM) is part of the Markets and Treasury division (M&T) of the Bank of Ireland Group. GM has a full dealing capacity out of in Dublin, Belfast, London and Stamford. It provides a comprehensive range of treasury products and services and uses innovative treasury techniques to develop solutions, customised to client requirements. M&T is a fast moving dynamic environment reflecting changes in global events and markets.

The Valuations Team is part of the GM Finance Team, which in turn comprises other areas including the hedge accounting team, the financial control team and the Income Support Unit.

The Valuations team is responsible for ensuring compliance with the valuation policy, the calculation and analysis of the monthly valuation adjustments and the analysis of capital charges (risk weighted assets and prudent valuation adjustments). The valuation team produces various MI reports for senior management and Group Finance. The team liaises closely with the GM Financial Control to assist with the production of financial accounts. The Team also ensures adherence to audit and Internal Financial Controls (IFC) requirements.

Purpose of the Role

The Head of the M&T Valuations Team oversees the running of the Bank's financial instruments valuation adjustment (i.e. CVA, FVA and DVA) models and the independent price verification process and provides subject matter expertise on financial instruments valuations issues that arise within M&T and the wider Bank. The successful candidate will represent M&T Finance as a key participant in working groups such as the M&T Valuations Forum and Libor Reform working group.

Key Accountabilities

  • Managing the production of monthly valuation adjustments (CVA, DVA, FVA and Mid to Bid/Ask)
  • Coordinating, reviewing and challenging the results of the Independent Price Verification testing performed on financial instruments throughout the Bank.
  • Development of proprietary derivative valuation adjustment (XVA) models and providing quantitative subject matter expertise to internal and external stakeholders.
  • Preparing and presenting valuation reports and papers to senior management including Market Risk Committee (MRC)
  • Representing M&T Finance in group-wide quantitative forums such as the GM Valuations Forum and the Libor Reform Group.
  • M&T Finance lead in European Central Bank stress testing and other regulatory reporting requirements.
  • Overseeing the day-to-day Valuation team's deliverables which include daily European Market Infrastructure Regulation (EMIR) reporting, monthly Customer Valuation, half yearly Dodd Frank reporting, while ensuring compliance with the Bank's valuation policies and internal financial Controls.
  • Supporting GM specific Valuation / IT projects.
  • Keeping informed and assessing the impact of emerging changes or developments in the financial markets that impact valuations.

What is the opportunity

We are seeking a highly motivated candidate to head the M&T Valuations team. As a quantitative subject matter expert to internal and external stakeholders, the successful candidate will have the opportunity to work closely with the front office and market risk teams to develop proprietary derivative valuation models and data analytics solutions. The successful candidate will lead a team of five skilled staff, mentoring and developing them to their potential.

Essential Qualifications

  • A recognised bachelor's degree or equivalent professional qualification

Essential Skills & Experience

  • An in depth knowledge of valuation principles across vanilla and complex financial instruments along with experience working in either capital markets or treasury, or having audited such functions
  • Strong numeric and analytical skills with extensive Excel experience
  • Knowledge of the key principles of international accounting standards related to valuation of financial instruments (IFRS 9 and IFRS 13)
  • Proven ability to lead, motivate and develop a high performing team
  • Excellent communication and interpersonal skills and ability to interact professionally with senior management and other stakeholders

Desirable Qualifications, Skills & Experience

  • A postgraduate qualification in quantitative finance, mathematics or other similar area would also be a significant advantage
  • Ability to work on own initiative, challenge status quo and implement positive change
  • Proven project management skills and ability to deliver to tight time deadlines

Where Agency assistance is required Bank of Ireland Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Bank of Ireland by Recruitment Agencies will not be accepted for this role.

Bank of Ireland Group is an equal opportunities employer and is committed to fostering an inclusive workplace which values and benefits from the diversity of our workforce.

Closing date: Jun 21, 2019

For further information, and to apply, please visit our website via the “Apply” button below.

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