Valuation Production - Assistant Manager, Open to flexibility

Location
London
Salary
£47,709 - £53,010 + benefits
Posted
05 Mar 2018
Closes
18 Mar 2018
Ref
606183
Contact
Lloyds Banking Group
Contract Type
Permanent

Valuation Production - Assistant Manager, Open to flexibility

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 to stakeholders.

The Investment Valuations function is tasked with producing and over-seeing valuations, valuation uncertainty and reviewing Third Party Administer (TPA) controls for £150bn 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.

Reporting to the Senior Manager of the Valuation Production team this role provides you with regular exposure to Front Office, Accounting, Change, Commercial Banking areas so the ability to influence and work with a variety of stakeholders is critical. You'll also need to demonstrate experience of establishing effective links across Divisions within a large, complex organisation and delivering genuine and creative insight by through data and financial analysis.

You would deliver valuation numbers for LBGI's internal loan asset portfolio and review and challenge the valuations for other various asset classes to the TPA. You would naturally need to possess an understanding of asset valuation and drivers of valuation. You will communicate your analysis and findings including MI presentation to the Head of Valuations and a number of steering groups and committees so excellent interpersonal skills are critical. You would also review current processes and challenge where inefficiencies arise such that improvements can be made to the business valuations overall operating model.

Substantiation of asset and derivative valuations via the following processes including:

  • Analysis and decomposition of valuation drivers
  • Review and challenge of pricing sources and associated assumptions
  • Review of alternative providers for valuation data
  • Review and challenge of third-party valuation differences
  • Loading and controls around current positions and cash flows for internal loan positions and structured vehicles like SPV's
  • Production of valuation and valuation uncertainty outputs and validation to ensure correctness
  • Documentation of valuation issues including summarisation and presentation of these and valuation metrics to departmental colleagues
  • 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, valuation production teams and with methodology, technology, actuarial and other specialist functions within the organisation
  • Credible representative to assist in explaining asset and derivative valuations and valuation controls to regulators, auditors and internal risk functions.

Key skills/experience:

  • 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
  • Good working knowledge of financial markets and products (OTC derivatives, bonds, equities, illiquid loans as well as structured instruments and vehicles)
  • Able to understand and critique complex calculations, able to communicate effectively with valuation experts and explain complex issues to a non-technical audience
  • Skills in liaising with a portfolio of partners and operating as a credible contact point for internal and external supervisory functions
  • Able to collaborate effectively across varied teams in multiple offices
  • Track record of being able to work under own initiative and handle deliverables to meet tight deadlines as part of regular reporting cycles.

Desirable additional factors

  • Post-graduate or professional qualifications in numerical disciplines or accountancy
  • Experience in building/reviewing financial valuation models and/or mathematical programming languages
  • Able to deliver high quality financial reports and presentations
  • Project/change management skills
  • Hands-on experience of working with market data vendor systems i.e. Bloomberg, Reuters etc

So if you have the experience of Investment Desks, Accounting & Operations, Risk & Actuarial Support functions, as well as Change areas we would like to hear from you. You will join us as part of an inclusive, values-led culture passionate about 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%), private healthcare, a performance share bonus and pension scheme.

We are an equal opportunity employer and deeply value diversity within our organisation.

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