Manager - Valuation Risk Governance

At M&G our vision is: to become the best loved and most successful savings and investment business and we're looking for people who are excited about joining us on our journey. We're digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we're looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.

We know that an inclusive environment makes us more accessible and ensures we attract, engage, promote and retain exceptional people. We welcome applications from all individuals regardless of age, gender/gender identity, sexual orientation, ethnicity/nationality, disability, or military service and welcome those who have taken career breaks. We will consider flexible working arrangements or home working arrangements for any of our roles.

What you can expect from us:
We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:

• Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
• Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
• Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
• Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best

How do we support our employees:
All M&G plc employees will be supported in the workplace through our M&G Employee Assistance Programme (EAP). If you need counselling, confidential financial or legal advice. The service is available 24 hours a day, 365 days a year and offers access to qualified professionals who can provide specialist information, advice and support on many issues. It offers a broad range of services, including help with family issues, maintaining work/life balance and mental health support.

Context for the Role:

M&G plc, as a major UK listed financial services provider, is expected and required to maintain an appropriate Risk Management framework, meeting regulatory standards, including those of counterparty, market and valuation risks.
An opportunity now exists for an exceptional candidate, to join our Risk Management team as a Valuation Governance Manager. The role is designed to ensure Risk Management fulfil their second line obligations with regards to the valuation activities carried out across the business and that these are controlled and in line with M&G Group Valuation Policy. The role provides an excellent opportunity for someone to join a highly skilled team focusing on meeting the requirements of a growing and diverse business which will require engagement with senior management and fund management businesses across the M&G Group. The team is led by the Head of Counterparty, Market and Valuation Risk Governance and currently comprises two Risk Managers, six Risk Analysts and a team.

Work Level Accountabilities:

Manager/Expert:

• For people managers, accountable for managing and motivating others to ensure quality of delivery to customers and stakeholders
• For technical specialists, accountable for delivering expert advice or service, using specialist knowledge and subject matter expertise
• Applies judgement to deliver outcomes, evaluating a range of potential solutions, considering the impact for customers, cost and risk
• Manages conflicts that may impact delivery
• Challenges upwards given knowledge of delivery and awareness of complex systems and the broader picture
• Identifies and anticipates need for changes to continuously improve quality and efficiency of output
• Manages resources and risks using expert judgment, know-how and experience

Role Requirements:

• To work collaboratively with colleagues and take personal accountability to maintain and enhance controls you are responsible for to support improvement of the overall control environment, customers outcomes and a reduction in M&G's operational risk Provide and review pricing &valuation.
• Oversee fair value exception memos (standards, consistency, parameters, Valuation Process Oversight ("VPO")).
• Update and manage policy documentation (M&G Valuation Policy, Senior Floating Asset Policy, Valuation Sub Committee ("VSC") Terms of Reference).
• Identify and communicate regulatory changes and impacts on valuations to appropriate stakeholders.
• Review & approval of new or changes to valuation methodologies, policies, internal tolerances, vendors etc.
• Documentation of valuation models and the inputs that go into said models.
• Act as Risk liaison point for new instruments. Ensure support can be achieved, testing undertaken before investment and that final approval at VSC is received.
• Understanding of internally-priced assets, why they are internally priced and the valuation methodologies used to value these.
• Assisting in the closure of VPO & VSC actions.
• Running VPO meetings.
• Receive and review MI from the DMT.
• Assisting all teams in the closure of valuation audit points.
• Create a framework for annual PSA reviews.
• Assisting DMT in the understanding of complex assets with specific reference to DM13.
• Confirm monthly review of Senior Floating Rate Assets.
• Ensure valuation training is provided to Committee members and front office personnel as required.

Knowledge & Experience:

• Working knowledge of financial markets and instruments
• Working knowledge of risk management practices and techniques
• Working knowledge of regulatory implications on risk management and governance, including how to develop best practice frameworks for managing valuation risk
• Experience of valuation governance frameworks and techniques;
• Experience of asset pricing techniques, and an ability to assess the most appropriate technique to apply to a range of non-traded and private assets;
• Experience in extracting and processing data for quantitative analysis and reporting purposes, working independently with reporting tools;
• Experience of risk management gained within a financial institution/investment bank/asset manager

Personal Attributes/Skills:

• Able to collaborate with senior managers and present complex solutions in a structured and professional manner;
• Competent to make decisions and lead by example;
• Good communication skills, with an ability to articulate complex issues clearly and succinctly to senior management;
• A self-starter with the ability to forge relationships with the business stakeholders;
• Excellent analytical abilities, with strong written and verbal communication skills.

Qualifications:

• Relevant graduate qualification essential (accounting, finance degree).
• Post-graduate or industry qualification desirable (eg CFA, FRM, IMC).

Work Level: Manager/Expert
Closing Date: 14/10/2021

We live by four behaviours at M&G and we ask all our employees to:

• Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
• Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
• Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
• Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things