This role is within the Independent Price Verification team in New York. The Independent Price Verification team performs an independent valuation review of all the positions traded and are subject to fair value.
Investment banking firm.
The role entails performing a valuation assessments of various securitized products as well as whole loans. However, there is also opportunity for exposure to additional financial products and trading businesses within the scope of the valuation team’s remit
There is direct interaction with the Front Office, Market Risk and Product Control functions.
Requirements / Qualifications:
The role offers a candidate the opportunity to be involved in the detailed analysis of esoteric asset types.
• 5+ years of pricing and valuations/ IPV experience. Experience in or familiarity with the Product Control Function is beneficial.
• Significant experience with current market standards for valuing securitized products, including Agency MBS, Non-Agency MBS, CMBS, CLOs, marketplace lending securities and whole loans.
• Excellent technical understanding of structured products and the different models used for valuation. Some examples below.
• Mortgages and other ABS
o The candidate will be responsible for Independent Price Verification of a large portfolio of MBS securities and other ABS securities. Would need to be technically complement in
o Valuation of consumer finance loans/ securitizations
o Non-Agency IO bonds
o Agency IO, Inverse IO, Multifamily IO positions
o Project and Construction Loans
o CLOs and CLO equity
• Understand comparability analysis within each asset type above
• Experienced in the valuation of hard to price securities, such as defaulted bonds, private equity positions and illiquid term and revolving loans would be an advantage
• Ability to crystallize key issues in the book and communicate implications to strategy and business
• Opine on proper FASB levelling methodologies of products under coverage.
• Review, implement and perform on-going re-calibration of product tolerances relating to products under coverage.
• Solid understanding of the valuation function within a bank
• Excellent communicator as we are part of the global team.
• Strong influencing skills. Able to communicate and present effectively to key stakeholder across the organization. Must also be persuasive with a professional but firm approach.
• Must be hands on. This is a doing role, and will require the candidate to get hands dirty.
• Ability to multi task and be adaptable to tight deadlines/ fire drill scenarios.
• Strong personality, tough, adaptable and resilient.
• Must have a good eye for detail, but also be able to step back and see the larger strategic picture
• Ambitious, dynamic, highly driven and motivated. An agent of change