Valuation Oversight Manager (open to flexible working)
Through our brands, Lloyds Banking Group has a relationship with just about every household and community in the UK. We underpin the lives of millions of individuals and businesses, and play a key role in helping to create a thriving UK economy.
The aim of Insurance Finance is to help tell the story of Lloyds Banking Group Insurance's (LBGI) performance both externally and internally, giving real insight to influence strategic decision making and ensuring clear and compliant communication of the LBGI's financial information to internal and external stakeholders.
The Investment Valuations function is tasked with over-sighting independent valuation, valuation uncertainty and control for £100bn+ of investment assets from illiquid assets (special purpose vehicles, loans, property, private equity, OTC derivatives) to more liquid exchange traded derivatives, foreign exchange, bonds, equities and collective investment schemes.
This role will suit an accomplished financial markets colleague, with experience of working with a wide range of stakeholders including: Investment Desks, Accounting & Operations, Risk & Actuarial Support functions, as well as Change areas.
You'll deliver the insight and analytics on LBGI's asset portfolio which contains multiple product types/classes so will need to possess a deep understanding of asset valuation and drivers of valuation uncertainty.
You will communicate through MI via a number of steering groups and committees so will need to have proven stakeholder management skills.
Reporting to the Senior Manager of the Valuation Oversight team this role provides you with regular exposure to Front Office, Accounting, Audit and Model methodology areas so a proven ability to influence and work with internal and external stakeholders is essential. You'll also need to demonstrate experience of building effective relationships across Divisions within a large, complex organisation and delivering genuine and innovative insight by through data and financial analysis. Together we make it possible.
- Substantiation of asset and derivative valuations and reserving through processes including:
- Analysis and decomposition of valuation drivers
- Review and challenge of pricing sources and assumptions
- Review and challenge of valuation methodologies
- Modelling of alternative scenarios
- Review of third-party valuation difference
- Research, definition, calibration and validation of valuation uncertainty and related measures and metrics related to measure valuation risks
- Documentation of valuation issues including summarisation and presentation of valuation issues and valuation metrics to senior business and finance stakeholders. Documentation of key controls over valuations, assisting in the ownership of Fair Value Pricing Policy and compliance with all other applicable group policies
- Act as subject matter expert within new product, new business and process improvement projects and build strong collaborative relationships with business teams, internal and external valuation production teams and with methodology, technology, actuarial and other specialist functions within the organisation
- Credible representative to explain asset and derivative valuations and valuation controls to regulators, auditors and internal risk functions.
- Significant experience of asset and derivative valuations from within an Independent Valuation, Product Control, Valuation Control, Risk or Valuation consultancy environment
- Financial / Numerically based qualifications, at a minimum to the equivalent of a graduate level
- Excellent working knowledge of financial markets and products (OTC derivatives, bonds, equities, illiquid loans as well as structured instruments and vehicles)
- Track record of understanding and being able to critique complex calculations
- Strong verbal and written communication skills, with the proven ability to communicate effectively not only with valuation experts but also to be able to explain complex issues to a non-technical audience and to be able summarise key results succinctly to an executive audience
- Skills in managing a portfolio of stakeholders and operating as a credible contact point for internal and external supervisory functions
- Proven ability to collaborate effectively across varied teams in multiple locations
- Track record of being able to work under own initiative and manage deliverables to meet tight deadlines as part of regular reporting cycles.
- Post-graduate or professional qualifications in numerical disciplines or accountancy
- Experience in building financial valuation models and/or mathematical programming languages
- Proven ability to deliver high quality financial reports and presentations
- Proven project/change management skills
- Management experience in a financial services or financial reporting environment
- Hands-on experience of working with market data vendor systems i.e. Bloomberg, Reuters etc.
So if you have the skills that we're looking for, join us and be part of an inclusive, values-led culture focused on making a difference. We have award-winning commitments to employing diverse and inclusive teams, reflective of the customers and communities we serve - where all our colleagues can be themselves and succeed on merit.
We're also committed to finding a pattern and approach to work that is mutually beneficial and can offer you a comprehensive package that includes Flexible Benefit (4%), Company car (or allowance), private healthcare, a performance share bonus and pension scheme.