LONDON – 2023 LONG TΞЯM INTΞЯNSHIP – COMMODITIΞS VΛLUΛTION
- Country: UK
- Programme: Long Term Internship
- City: London
- Department: Not applicable
- Role: Not applicable
Main duties & responsibilities
Business Area/Dept Overview
Within CIB Global Markets Operations, Valuation Control (VC) is a global function whose main missions are articulated around second level control hubs in Europe, Asia and the Americas. Valuations, in conjunction with Risk, is in charge of independently verifying, analysing and reporting on the market parameters used in the valuations, as well as analysing the impact of the use of independent market parameters in the valuation.
- To support the accurate and independent marking of all parameters as required by regulators along with the derivation, analyze and reporting of the results.
Core accountabilities of role
- Running a number of different price testing reviews (MAPs aka IPV -> independent price verification) across Commodities.
- Take ownership to maintain and improve some IT processes within Commodities Valuation team.
- Work within a limited time frame as part of a team and product accurate month end corrections. This might require discussion and timely conclusions with the Front Office and Risk-GM related to the quality and accuracy of the MAP reviews.
- Produce accurate reports highlighting coverage and results of MAPS
- Documenting methodologies for MAP reviews proposed by Risk team whilst at the same time constructively challenging the present policy and looking for improvements.
- Helping with submission to MarkIT for commodities products. Identifying where additional submissions would benefit the MAP reviews against the costs.
- Refine methods to reduce rejection rates while analysing results to produce valuable KPI’s for a wide range of interested parties across the bank.
- Various projects to automate and/or improve our systems with the assistance of IT.
- Build and maintain relationships with other Product Control teams, Front Office, Middle Office, Finance and Risk-GM based on trust, respect and professionalism.
- Maintain and update SOPs (Standard operating procedure)
Knowledge, Skill and Experience
- A genuine interest in Finance, derivatives and their pricing.
- Strong Excel skills, VBA is a strong plus.
- Mathematical or financial academics would be an advantage.
- Ability/Confidence to interact at all levels
- Strong written and verbal communication skills.
- Willingness to find workaround solutions on issues independently before seeking external assistance
- Attention to detail is essential especially when under pressure and time constraints.
- The ability to see the large picture and the impact your work has on the business.
- To be able to work individually and as part of a team.
Duration: 11 months
Start Date: ASAP