Valuation Control is part of Product Control, focused on the trading and treasury activities of Julius Baer. Operating independently, Valuation Control provides crucial second-line-of-defence oversight to safeguard the reliability of the Bank’s financial statements. Its function ensures the accuracy and integrity of fair value measurements for financial instruments, primarily under IFRS 13 requirements, and collaborates with Finance, Risk, and Front Office functions to support transparent financial reporting and meet regulatory and audit obligations.
Tasks
- Lead Valuation Control within Product Control, overseeing valuation governance, independent price verification (IPV), valuation adjustments, and fair value controls.
- Define and implement the target operating model for prudent valuation adjustments (PVA), including methodology, governance, controls, data requirements, systems, reporting, and senior management oversight.
- Lead development and governance of additional valuation adjustments (AVA), covering market price uncertainty, close-out costs, funding & investing costs, unearned credit spreads, concentrated positions, future administrative costs, and early termination.
- Enhance the Bank’s valuation control framework.
- Assess new products in the new product approval process.
- Develop a comprehensive fair value levelling framework.
- Provide senior-level oversight of valuations for trading and treasury products, including derivatives, fixed income, rates, credit, FX, and structured instruments.
- Ensure robust independent price verification through price testing, adjustments, valuation challenge, and escalation.
- Deliver independent challenge to Front Office pricing, models, assumptions, and methodologies.
- Establish strong governance via methodology reviews, control standards, documentation, approvals, and senior reporting.
- Present valuation control insights to senior management, risk committees, auditors, and regulators.
- Ensure valuation processes are underpinned by reliable data, systems, controls, and auditability.
- Support internal/external audits and regulatory reviews on fair value and valuation control matters.
- Drive automation, process improvements, and control enhancements for greater efficiency and scalability.
- Lead and develop a high-performing team of valuation control specialists, fostering technical excellence and career growth.
Requirements
- Degree in Finance, Economics, Mathematics, Engineering, or a quantitative field.
- Extensive experience in Risk or Finance (10+ years), with at least 5 years in Valuation Control, Market Risk, or related banking control functions.
- Proven leadership track record within valuation or product control environments.
- Experience leading the Bank’s PVA agenda within Product Control / Valuation Control.
- Deep technical expertise in fair value governance, IPV, valuation reserves, and PVA, including market price uncertainty, model risk, and close-out costs.
- Strong knowledge of financial instruments across rates, credit, FX, derivatives, fixed income, and structured products.
- Experienced in challenging valuation models, assumptions, inputs, and outputs in collaboration with Front Office and Model Validation.
- Thorough understanding of regulatory requirements (IFRS 13, Basel, EBA) relating to fair value and valuation control.
- Skilled in designing and enhancing valuation control frameworks, governance, reporting, and system-driven controls.
- Strong data and technology awareness, with ability to drive automation and control improvements.
- Programming skills (Python, SQL or similar) desirable.
- Excellent analytical, communication, and stakeholder management skills; effective at engaging senior leaders, auditors, and regulators.
- Capable of leading teams and delivering results in complex, highly regulated environments.
- Professional qualification (e.g., CFA, FRM, ACA/ACCA, CPA) desirable.
- Business fluency in English required; German an advantage.
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Das Team
Valuation Control operates independently within Product Control and collaborates with Finance, Risk, and Front Office functions. The team is responsible for safeguarding the reliability of financial statements and fostering technical excellence and career growth among valuation control specialists.