Derivatives Operations Valuations Lead

We have a great opportunity for a Derivatives Operations Valuations Lead with SME knowledge of derivatives valuation methodologies & dispute resolution practices. You will collaborate with PIC’s ALM, Investments, Finance and Risk teams to secure their buy-in and implement improvements to systems, processes, and technology, as appropriate.

Key Responsibilities:

• Perform expert analysis of valuation calculations, at OTC Derivative instrument level, from both internal and external systems, including counterparty valuations. Provide detailed analysis and propose actions to remediate discrepancies.
• Work with counterparties and reference CSAs, trade confirmations, valuation sources and market conventions to assist in the resolution of collateral and valuation disputes.
• Review reconciliation output from TriOptima. Resolve issues flagged. Maintain accurate commentary supporting known issues.
• Work with the valuation committee to determine sensible tolerances on a sub asset class basis. Provide feedback and present findings on underlying drivers and potential challenges to internal curve construction.
• Work with the new asset onboarding team to test any new products with all impacted areas, including but not exclusively: the OMS provider, collateral system provider, the internal Asset and Liability Management and Portfolio Management teams.

Minimum Requirements:

You must have experience of working closely with Investment teams within a corporate or consulting environment, the majority in banking, asset management, insurance, or hedge fund.

Technical:

• SME knowledge of derivatives valuation methodologies & dispute resolution practices.
• Good technical knowledge of derivatives, collateral management and optimisation as well as technology to support collateral management.
• Experience using TriOptima, Aladdin, Murex.
• Familiar with derivatives regulation, including EMIR, SFTR and Solvency II.
• Familiar with derivatives documentation, including ISDAs, CSAs, CDEAs, GMSLAs, GMRAs.

Personal:

• Ability to interrogate/verify/challenge derivatives valuations.
• Experience of delivering change and projects.
• Strong organisational and communication skills.
• Ability to persuade and influence both directly and indirectly.
• Ability to organise work to meet deadlines.
• Commercial judgement.
• Proactive approach to risk management.

Benefits:

• 28 days’ annual leave plus bank holidays
• Pension
• Insurance for Travel, Private Medical, Critical Illness, Life Assurance and Income Protection
• Save As You Earn (SAYE)