Valuation Control Model Development – Director

• Build and manage the newly formed Valuation Control Model Development team, comprising up to 7 senior valuation subject-matter experts (SMEs).
• Develop and document new and improved methodologies for IPV/PVA/FVA across asset classes, primarily in support of the Markets division,
• Drive consistency across asset classes in what regards the validity and appropriateness of models, methodologies and their associated documentation,
• Provide support to core asset class VC teams in the identification of their inventory of quantitative and qualitative models and quantitative processes,
• Support the enhancement of models and methodologies to ensure ongoing compliance with the accounting and regulatory requirements and with the regulator’s expectations, and that these evolve in line with best market practices,
• Enhance the valuation control standards and ensure these are kept in line with the relevant regulatory requirements and the model governance standards,
• Work with the Models and Methodology team to respond to validation challenges and enhance valuation models/methodologies owned by VC, and their associated documentation,
• Work with the Front Office Quants to challenge and enhance valuation methodologies owned by the Front Office (e.g., Model Risk AVA), and their associated documentation,
• Work with Model Risk Management (Independent Model Validation teams) in the model validation of Finance owned Quantitative and Qualitative (valuation) models and provide assistance on the validation of Front Office Quantitative (valuation) models, when required. Moreover, to collaborate with MRM  to influence, support and enhance the firm’s model governance framework.
• Identify and highlight areas that could cause potential valuation risk to the bank and help develop solutions to enhance the existing models, methodologies, processes and controls to prevent that risk.
• Develop tools and processes that enable the ongoing, transparent monitoring of the appropriateness of models and methodologies, in collaboration with the model owners.
• Support responses to Regulatory feedback on the aforementioned themes and develop solutions/remediations when required

Purpose of the role

To conduct the accurate and timely valuation of financial instruments, and establishment of valuation methodologies, monitoring of market conditions, and provision of valuation insights to support financial reporting, risk management, and business decisions.  

Accountabilities

• Development and maintenance of valuation methodologies for various financial instruments, and implementation of appropriate valuation models based on the characteristics of the financial instruments and market conditions.
• Management of valuation process for the bank’s trading portfolio, including regular valuations of financial instruments and approval of valuations performed by colleagues.
• Analysis of market data to assess valuation inputs, assumptions, and potential valuation risks.
• Preparation and review of valuation reports, and support in preparing regulatory filings and financial statements.
• Provision of valuation insights to traders, risk professions and senior colleagues, and identification of areas for improvement in valuation methodologies and processes.

Director Expectations

• To manage a business function, providing significant input to function wide strategic initiatives. Contribute to and influence policy and procedures for the function and plan, manage and consult on multiple complex and critical strategic projects, which may be business wide..
• They manage the direction of a large team or sub-function, leading other people managers and embedding a performance culture aligned to the values of the business. Or for an individual contributor, they lead organisation wide projects and act as deep technical expert and thought leader, identifying new ways of working and collaborating cross functionally. They will train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions..
• Provide expert advice to senior functional management and committees to influence decisions made outside of own function, offering significant input to function wide strategic initiatives.
• Manage, coordinate and enable resourcing, budgeting and policy creation for a significant sub-function.
• Escalates breaches of policies / procedure appropriately.
• Foster and guide compliance, ensure regulations are observed that relevant processes in place to facilitate adherence.
• Focus on the external environment, regulators, or advocacy groups to both monitor and influence on behalf of Barclays, when appropriate.
• Demonstrate extensive knowledge of how the function integrates with the business division / Group to achieve the overall business objectives.
• Maintain broad and comprehensive knowledge of industry theories and practices within own discipline alongside up-to-date relevant sector / functional knowledge, and insight into external market developments / initiatives.
• Use interpretative thinking and advanced analytical skills to solve problems and design solutions in often complex/ sensitive situations.
• Exercise management authority to make significant decisions and certain strategic decisions or recommendations within own area.
• Negotiate with and influence stakeholders at a senior level both internally and externally.
• Act as principal contact point for key clients and counterparts in other functions/ businesses divisions.
• Mandated as a spokesperson for the function and business division.

All Senior Leaders are expected to demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard. The four LEAD behaviours are: L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others.

All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.