VP, Market Risk, Product Control Senior Associate

VP, Market Risk, Product Control Senior Associate

Country: United States of America

Your Journey Starts Here:

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

An exciting journey awaits, if you are interested in exploring the possibilities We Want to Talk to You!

The Difference You Make: 
The VP, Market Risk, Product Control Senior Associate will support the Executive Director of Market Risk IPV in maintaining and executing the Fair Valuation processes within the Market Risk area. The role ensures US-owned risk factors are correctly defined and configured in valuation systems according to market best practices and standards. The VP will assist in conducting IPV analyses, generating valuation adjustment metrics, and reviewing asset levelling reports.

• Perform bi-weekly IPV to contrast market data inputs and prices used in official valuation vs. alternative market sources (including collateral valuations).

• Analyze, review and control alternative price sources used in IPV to ensure input consistency.

• Perform bi-weekly FVA calculations and quarterly AVA calculations and certify accuracy and adequacy of results.

• Identify inconsistencies in IPV/FVA/AVA and liaise with stakeholders to resolve/escalate the issue.

• Support the design & implementation of new risk factors to ensure adequate observability and consistency with market practices.

• Daily review of levelling reports, to identify Level 3 assets and ensure Day-1 P&L provisioning with P&L team.

• Monitor, maintain and generate reports on risk factor observability and asset levelling from internal systems/tools.

• Oversee and ensure the development and implementation of short-term projects.

• Organize and implement upgrades in risk system with the support teams and Methodology.

• Monitor and manage risk/exposure and compliance with the company's policies.      

           

What You Bring: 
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 

Bachelor's Degree or equivalent work experience: Business, Finance, Management, or equivalent field. Required

Master’s degree in Financial Mathematics, Financial Engineering, Data Science, or related field. Preferred

7+ Years Market Risk Management/Product Control  including proven experience in the calculation of Fair & Additional Valuation Adjustments (FVAs & AVAs) under Market Price Uncertainty (MPU) and Close-out-Cost (CoC) concepts.        

• Good understanding of financial markets, market data, and valuation methodologies for financial products including Mortgage backed securities, Rates, fixed income, Equities, Credit, Convertibles, etc.

• Strong skills in Excel and Python required; SQL, VBA skills a plus.

• Numerically proficient with robust analytical skills.

• Understanding of statistical methods for data analysis, especially in identifying outliers and clustering data.

• Familiarity with external vendor tools such as Murex and Bloomberg beneficial.

• Knowledge of Fair Valuation regulations, particularly IFRS-13

• Ability to independently operate in a complex, matrixed environment; adept at delivering and maintaining productive working relationships across business, functions, geographies and lines of defense

• Ability to handle conflict resolution with other groups to ensure appropriate accounting guidance is followed.

• Ability to adjust to new developments/changing circumstances.

• Ability to convey a sense of urgency and drive issues/projects t