Valuation Officer

1 week ago

Singapore The World Bank Singapore Office Full time

Description


The office of the
Chief Risk Officer (CRO) is responsible for leading the risk management function for IBRD and IDA, with oversight responsibility for financial and operational risks including policy formulation, measurement, monitoring and reporting.

The CRO works closely with other risk units in the Bank Group to address cross-cutting issues, support innovation in a sustainable manner and share best practices.

It also fosters collaboration in risk management across other MDBs.

CRO plays a key role in capital structure and interaction with rating agencies as well as internal and external auditors and Board communication on risk matters.

It consists of Country Credit Risk Department (CROCR), Market and Counterparty Risk Department (CROMC), and Operational Risk Department (CROOR).

The Market & Counterparty Risk Directorate (CROMC) focuses on oversight of risk in four main areas:

  • Market risk, which covers ALM, interest-rate, spread (funding and investments) foreign-exchange risk, and the availability/cost of, or access to, ready liquidity and long-term funding.
  • Counterparty (i.e., no sovereign-lending) Exposure & Liquidity risk, which includes risks to IBRD resulting from changes in creditworthiness of IBRD's commercial/derivative counterparties, and MTM/liquidity risks of the treasury investment portfolios.
  • Model risk, which covers financial-risk (capital, risk, income, etc.) models, across the WBG excluding IFC, in terms of model, risk, and governance.
  • Valuation & Analytics (CROVA), which includes validation and verification of pricing/valuation models & market data, and independent price verification (IPV) of fair-May products.


The Valuation & Analytics group (CROVA) is responsible for several quantitative and financial functions relating to IBRD and IDA (commonly referred as "The World Bank").

These functions includes, but are not limited to, the following:

a) Validation of pricing model, curve construction and market data used to value financial instruments of The World Bank (WB)
b) Pricing model verification and enhancement of the implementation of the models, curve construction and market data deployed at the World Bank for valuation of financial instruments.
c) Independent price verification and quantitative analytics of the issuance, derivatives, loans and commitments portfolio of The World Bank
d) Review of internal valuation standards and practices to ensure market alignment
e) Generating and monitoring of financial indicators, Greeks, MTM movements attribution and analysis
f) Liaising with multi-stakeholders to support and facilitate innovative and bespoke solutions and financial instruments.
g) Liaising with auditors on aspects related to model valuation and verification, financial markets and impact on WB portfolios and Independent Price Verification

Duties/Accountabilities:

Specific tasks of the Valuation Officer include:

  • Performs pricing model and market data validation and verification in accordance with governance frameworks. The instruments include (but not limited to) structured/exotic bonds and derivatives, covering fixed income, foreign-exchange, commodity, and equity.
  • Performs MTM movements attribution for different portfolios targeted at market factors such as interest rates, volatilities, and FX.
  • Develops and carries out periodic sensitivity/Greeks analysis and other quantitative/financial analytics.
  • Develop Independent Price Verification models and perform periodic IPV analysis.
  • Support periodic independent model and curve construction reviews review and enhancements for debt, loan, and derivatives portfolios, with extended focus on highrisk models.
  • Stay current with the latest developments in quantitative modelling techniques, identifying opportunities to improve existing models and tools.
  • Works closely with external audit's valuation group as well as other finance partners units.
  • Develops and maintains industry contacts to remain abreast of best practices.
  • Be selfmotivated and operates effectively as part of a larger team and actively participate in group's initiatives.
  • Typically responsible for managing simultaneous and multiple high priority projects with a variety of stakeholders.
  • Analyzes and identifies substantive issues and proposes solutions.
  • Understands critical linkages and relationships among clients' business drivers, operations and corporate objectives.

Selection Criteria

  • Applicants should have a minimum 5 years of relevant direct market experience in a major financial institution in Structuring / Trading / Valuation / Active Risk management of interest rate and/or foreign exchange derivatives (and 7 or more years of finance experience preferred).
  • Ability to readily discern the robustness of varying modeling approaches for given structures and dominant marketpractice is required.
  • Past experience with NumeriX/Murex platforms is preferred.
  • An advanced/professional degree or equi

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