Valuations Specialist

Job Description:

Job Title: Valuation Controls Specialist

Corporate Title: Vice President

Location: London

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities, and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us

FICC Business Finance & Control forms part of the GBAM CFO Group and is a control and business advisory function to the business. The team's work primarily covers P&L, balance sheet and Valuation controls with a dynamic book of work providing opportunities to make improvements through varied project work. This role supports the EMEA Global Credit Trading business, which is primarily market making in corporate bonds, CDS, and structured credit products within the EMEA region. The team works closely with the Credit trading desk, the Global Valuation Group (GVG), Credit Risk, legal entity controllers, and other support functions.

The team is also encouraged to take part in employee engagement and diversity and inclusion initiatives to help continue to make Bank of America a great place to work.

• Perform calculation and analysis of valuation controls including IPV, valuation adjustments and prudent valuation adjustments for Credit products, as well as ownership for quarterly disclosures.
• Work with the Global Valuation Group to review and enhance valuation control methodologies for Credit instruments, including illiquid bonds and structured credit.
• Ensure procedure documents are accurate and up to date.
• Assist in streamlining and enhancing valuation processes, including automation and system development for Credit-specific workflows.
• Lead business forecast routines and new product reviews for Credit derivatives and structured credit.
• Engage with stakeholders including Front Line Units, Accounting Policy Group, Risk, and Global Valuation Group to implement appropriate accounting policies for Credit products.
• Maintain strong understanding of valuation controls, regulatory rules, and governance for Credit markets.

• Qualified Accountant (ACA, ACCA, CIMA) or CFA with strong knowledge of accounting concepts.
• Recent working knowledge of Credit businesses and Valuation Control.
• Understanding of Credit products (corporate bonds, CDS, structured credit) and their valuation methodologies (spread curves, recovery rates, credit models).
• Ability to devise valuation methodologies for illiquid Credit instruments and automate processes using tech tools.
• Experience in a global, matrix organization preferred.

Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum 

The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

Access to an Employee Assistance Program for confidential support and help for everyday matters

Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK's most iconic cultural institutions and exhibitions.

Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Good conduct and sound judgment is crucial to our long term success. It's important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.