Valuation Specialist Job Description

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Valuation Specialist

Bank of America Corporation - New York, NY

Job Description:

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!

Job Description:
Manager or Individual contributor responsible for the price testing methodology of complex portfolios of bespoke instruments / risks. Partners with model developers (QSG) and model validation (MRM) teams on the implementation of new models. Challenges price testing methodologies and drives the development of new methodologies as required. Partners with BFC team to ensure that execution of price testing is consistent with methodologies and market condition. Determines appropriate uncertainty reporting and metrics. Monitors pricing and liquidity risk and escalates issues.

Valuation Specialist in the Americas Global Valuation Group (GVG) Methodology team at Bank of America. GVG is part of the Global Markets & International Finance Group, providing valuation and independent price verification (IPV) guidance/support to Business Finance & Control teams. Valuation Specialists possess broad knowledge of financial markets and products with a quantitative background suitable for critically evaluating the results of valuation control procedures applied.

Key Responsibilities:

Develop and enhance technical valuation policies and standards to improve methodology, documentation, and Valuation Controls
Technical analysis of existing methodology development, Valuation Control (VC) execution, reporting, and governance processes to identify areas of improvement. VC areas in scope include IPV, IPV & Fair Value Hierarchy Classification, Fair Value Adjustments (VA's), Valuation Uncertainty metrics and Prudent Valuation Adjustments
Drive improved controls over proxy data, overrides, calibration error, model risk, and untested parameters/risks. Improve valuation uncertainty metrics, market data back testing, and governance
Perform in depth analysis of valuation issues and communicate findings to senior stakeholders
Work closely with Traders, Market Risk, Model Risk Management, Front Office Quants, Product Controllers, and Senior Managers on Valuation related matters. Communicate complex valuation matters to Senior Management, Auditors, and Regulators
Leverage expert knowledge of financial markets, products, and quantitative background to critically evaluate the Valuation Control Standards and Processes
Define Fair Value Hierarchy classification and substantiation approaches, i.e. create the framework for a given product, risk, or portfolio as appropriate
Support Front Office and Finance Model Governance through the development of best practices
Drive Operational Excellence and Innovation of Valuation Control processes
Lead strategic projects supporting valuation analytics and architecture
Develop data analytics to better understand valuation uncertainty, independent data quality, liquidity, observability, and trends

Skills:

Analytical Thinking
Attention to Detail
Data Modeling
Risk Analytics
Risk Modeling
Financial Forecasting and Modeling
Price Verification and Valuation
Problem Solving
Scenario Planning and Analysis
Business Acumen

Required Qualifications:

10 years of valuation and financial markets experience
Previous large, complex financial services organization experiences performing valuation control / risk management / model development with technical product expertise
Strong leadership skills with a track record of collaborating with and influencing others
Ability to drive strategic vision, as well as develop and implement new governance and control frameworks
Strong communication skills with ability to communicate complex issues in a simple manner
Prior quantitative process/system design, development, and automation project experience working with stakeholders across functions/divisions
Experience with regulatory and senior management interaction
Excellent verbal & written communication, documentation, and problem-solving skills. Proficient with MS Office, VBA, Bloomberg API, and programming in Python
Exhibit attention to detail, with ability to drill-down to elements of market structure and/or a position
Knowledge of quantitative model theory, valuation models and tools
Master's degree in Quantitative Finance, Financial Engineering, Physics, Math or related work experience preferred

Shift:
1st shift (United States of America)

Hours Per Week:
40