Valuation Product Controller
Marex is a diversified global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the energy, commodities and financial markets.
The Group provides comprehensive breadth and depth of coverage across four core services: Market Making, Clearing, Hedging and Investment Solutions and Agency and Execution. It has a major franchise in many major metals, energy and agricultural products, executing around 50 million trades and clearing 205 million contracts in 2022. The Group provides access to the world’s major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders, banks, hedge funds and asset managers.
Marex was established in 2005 but through its subsidiaries can trace its roots in the commodity markets back almost 100 years. Headquartered in London with 36 offices worldwide, the Group has over 1,800 employees across Europe, Asia and America.
Marex has unique access across markets with significant share globally both on and off exchange. The depth of knowledge amongst its teams and divisions provides its customers with clear advantage, and its technology-led service provides access to all major exchanges, order-flow management via screen, voice and DMA, plus award-winning data, insights and analytics.
The Solutions department has some of the most experienced teams in the world, specialising in the manufacture and distribution of customised derivative products on Equities, Commodities, Credit, FX, Funds, Fixed Income and Digital Assets. These products are distributed to customers through two specialist channels: Risk Management and Financial Products.
For more information visit www.marex.com
We are seeking an outstanding candidate to work within the Valuation control across several asset classes, Equities, Commodities, Crypto, FX and Fund Derivatives. Additionally, the candidate will be required to contribute to the daily production of the daily P&L, if required
This role will also be responsible to drive Finance transformation and change, in line with the overall Marex Solutions transformation agenda.
- Perform IPV on monthly basis across various asset classes. Prepare results, communicate to traders and be able to challenge traders on any significant impacts. Prepare IPV packs for management discussion on IPV results.
- Assess the overhedges on the books and ensure adherence with policies.
- Review approximate booking trades and articulate the approximation on the trades.
- Assist in daily P&L controls for the Solutions business, specifically fair value adjustments and day1 observability assessment.
- Provide cover for daily P&L production, if required.
- Calculate fair value adjustments (CVA, DVA, FVA, Bid/Offer).
- Refresh bid offer spreads on all risk factors.
- Calculate own credit impact on the book.
- Work with Support and Control groups to resolve any portfolio discrepancies and making improvements to daily processes.
- Assist and drive various projects within the team as Marex is an evolving firm and requires ability to integrate new business.
- The position comes with a strong project focus and will be a key contributor to identifying opportunities and delivering process and transformation improvements.
- Ensuring compliance with the company’s regulatory requirements under the FCA
- Adhere to the operational risk framework for your role ensuring that all regulatory or company determined parameters are complied with.
- Role model for demonstrating highest level standards of integrity and conduct and reflecting Company Values.
- At all times complying with the FCA’s Code of Conduct
- To ensure that you are fully aware of and adhere to internal policies that relate to you, your role or any other activities for which you have any level of responsibility.
- To report any breaches of policy to Compliance and/ or your supervisor as required
- To escalate risk events immediately
- To provide input to risk management processes, as required.
Skills and Experience
- Good understanding of structured derivatives essential, preferably structured equities.
- Excellent communication skills
- Ability to collaborate with Management, Front Office, Legal, Operations and Risk
- Ability to pinpoint root cause issues.
- Ability to work with tight deadlines.
- Proven analytics and investigation skills
- Proficient in MS office (Excel) and FO/BO systems (e.g. ICE/Sophis preferred, but not essential)
- Excellent verbal and written communication skills
- Process optimisation or change experience (preferred, but not essential)
- Experience in Python / SQL or Alteryx (preferred, but not essential)
- Experience working in a regulated environment and knowledge of the risk and compliance requirements associated with this.
- A collaborative team player, approachable, self-efficient and influences a positive work environment
- Demonstrates curiosity
- Resilient in a challenging, fast-paced environment
- Ability to take a high level of responsibility in a fast pace and high-volume environment
- Excels at building relationships, networking and influencing others
- Strategic collaborator with insight and agility, able to anticipate future challenges, ensuring operational effectiveness
- Attention to detail
- Act with integrity
- Act with due skill, care and diligence
- Be open and cooperative with the FCA, the PRA and other regulators
- Pay due regard to the interests of customers and treat them fairly
- Observe proper standard of market conduct
- Act to deliver good outcomes for retail customers
Marex is fully committed to the elimination of unlawful or unfair discrimination and values the differences that a diverse workforce brings to the company.