Financial Services Advisory - Senior Manager: Valuations

  • Full-time
  • Service Line: Audit & Assurance

Company Description

About Deloitte

Deloitte is the largest private professional services network in the world. Every day, approximately 220,000 professionals in more than 150 countries demonstrate their commitment to a single vision: to be the standard of excellence, while working towards one purpose – to make an impact that matters.

In South Africa, Deloitte is one of the leading professional services organisations, specialising in providing Audit, Tax, Consulting, Risk Advisory and Corporate Finance services. We serve clients in a variety of industries from financial services, to consumer business, energy, mining and manufacturing, tourism and the public sector, and we provide powerful business solutions to some of the world's most well-known and respected companies, including more than 80 percent of the Fortune 100.

Our professionals are unified by a collaborative culture that fosters integrity, outstanding value to markets and clients, commitment to each other, and strength from cultural diversity. They are dedicated to strengthening corporate responsibility, building public trust, and making a positive impact in their communities. We understand that our professionals hold interests outside of the work space and we aim to encourage work/life balance, supporting them in all aspects of their lives.

Our talented professionals and our clients understand the link between a strong learning and development programme and the ability for Deloitte to deliver on its promise of consistent, high-quality service delivery worldwide.

Whatever your age, gender or culture, take your career to the next level with the talents and capabilities you'll develop at Deloitte.

About the Division

Financial Services Advisory (“FS Advisory”) is an established advisor within the financial services industry. Our vision is to be the leading provider of advisory services to financial services institutions and corporate treasury operations across Africa. Our service offering includes:

·         Credit Risk

·         Balance Sheet Management (Including Enterprise Risk Management, Stress-testing and Economic Value)

·         Financial Instrument Valuations

·         Regulatory Advisory

·         Regulatory Assurance

·         IFRS Advisory

·         Corporate Treasury

The FS Advisory team comprises a strong mix of business, risk and regulatory practitioners with a technical appreciation for both financial modelling and programming disciplines. In so doing, we are able to bring our clients practical solutions that look to address their end-to-end strategic and business model requirements.

 What impact will you make?

Every day, your work will make an impact that matters, while you thrive in a dynamic culture of inclusion, collaboration and high performance. As the undisputed leader in professional services, Deloitte is where you’ll find unrivalled opportunities to succeed and realize your full potential.

 

 

Job Description

Main Purpose of Job

To support the business area leadership in the implementation of strategic initiatives through the effective management of the team, and to provide key insight and guidance in quantitative modelling methodologies for valuations, risk, and strategic projects.

Key Responsibilities

·       Lead the team with regards to best practice quantitative methodologies:

§  Responsibility for choosing appropriate, best practice valuation models for a broad range of financial instruments; including derivatives, employee share schemes, BEE deals, financial guarantees, etc.

§  Responsibility for ensuring that suitable governance has been followed in the selection of models and methodologies; e.g., model validation, documentation, and sign-off.

§  Ensuring that the quality of model implementations is of the highest standard.

§  Knowledge sharing of quantitative models and methodologies, market practice, and current trends in financial services.

·       Play a key role in the strategic development of technologies:

§  Lead initiatives that promote the identification and prioritization of technological solutions.

§  Solutions should further the business strategy, create efficiencies in new & existing processes, and assist in growing the profitability of the business.

§  Provide vision and subject matter expertise for the planning, prioritization, and implementation of such solutions.

·       Be a thought leader that is respected in industry and within the firm, and creates eminence for the business by publish research and thought leadership pieces, and representing the business at industry events.

·       Stay abreast of industry developments, and offer subject matter expertise in such developments, both internally and externally:

§  This includes derivative & xVA pricing and risk management, regulatory and market infrastructure changes, and the analysis and adoption of disruptive technologies.

§  Be acutely aware of challenges that banks, investment managers, and corporates face, and having the ability to devise solutions to meet our clients’ needs.

§  Researching relevant industry topics, and attending conferences and industry events.

·       Broad responsibility for talent management:

§  Recruitment: identifying and attracting talented individuals from industry & graduate programs.

§  Retention: providing guidance with regards to career growth and opportunities for our talent, mentoring the team, ensuring that there is a good culture and working ethic in the team, and leading other initiatives that promote talent retention.

·       Manage and oversee client relationships, fees and budgets

Qualifications

Skills and Qualifications Required

·  At minimum a bachelor’s honours degree in a scientific discipline. A master’s or doctor’s degree in financial mathematics, pure/applied mathematics, physics or engineering is an advantage

· At least 8 years practical experience and knowledge of the financial markets, with knowledge of the application of mathematics of finance and is required

·Experience in an Object Oriented Programming language, e.g. C#, Java, Python. Good knowledge of C# and programming experience is a large advantage

· Experience in VBA an advantage

· Good knowledge of accounting standards, e.g. IFRS2, IFRS9 and IFRS13, an advantage

·Strong MS Excel skills

·MS Word and PowerPoint

·LaTeX an advantage

 Specialized Competencies

·  Relevant technical knowledge and practical experience with pricing of vanilla and exotic derivative instruments in a risk neutral framework is required

· Knowledge and practical experience with construction of curves is required; e.g. interest rate forecasting and discounting curves, basis curves, OIS curves

· Understanding and practical computational experience of CVA, DVA, FVA and other xVAs is required

·      Understanding of relevant numerical methods for derivative valuations is required; e.g. Monte Carlo and Finite Difference methods

·      Knowledge of stochastic differential equations and models of asset dynamics, and understanding when they are suitable is required; e.g. GBM, Hull-White and Heston

·      Knowledge of volatility models; e.g. Local Volatility, Local Stochastic Volatility and SABR

·      Knowledge of current market trends, e.g., reference rate reform & FRTB, an advantage

·      Pricing of equity options falling within the ambient of BEE and share scheme transactions (IFRS 2) is an advantage

Additional Information

Leadership / Behavioural Capabilities

  • Living our Purpose - Acts as a role model, embracing and living our purpose and values, and recognizing others for the impact they make
  • Influence - Influences clients, teams, and individuals positively, leading by example and establishing confident relationships with increasingly senior people
  • Performance drive - Delivers exceptional client service; maximizes results and drives high performance from people while fostering collaboration across businesses and borders
  • Strategic direction - Understands key objectives for clients and Deloitte, aligns people to objectives and sets priorities and direction
  • Talent development - Develops high-performing people and teams through challenging and meaningful opportunities

Cross Consulting Capabilities

  • Delivery Excellence
  • Knows the Business and Sector
  • Analytical Thinking & Problem Solving

Specialized Competencies

·         Practical knowledge and experience with pricing of vanilla and exotic derivative instruments in a risk neutral framework is required

·         Understanding and practical computational experience of of CVA, DVA, FVA and other xVAs where relevant is required

·         Pricing of equity options falling within the ambient of BEE and share scheme transactions (IFRS 2)

 

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