Head of Valuation Control (m|f|x) Zurich

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Valuation Control is part of Product Control, which focuses on Julius Baer’s trading and treasury activities. Independent compilations of profit and loss figures foster a transparent and secure business environment, ensuring accurate financial reporting. End-to-end reconciliations of positions, cash accounts, and profit and loss statements ensure data integrity across systems.

Valuation Control collaborates with Finance, Risk, and Front Office functions to support transparent financial reporting and meet regulatory and audit obligations. Operating independently, Valuation Control provides crucial second-line-of-defense oversight to safeguard the reliability of the Bank’s financial statements. Its function ensures the accuracy and integrity of fair value measurements for financial instruments, primarily in accordance with IFRS 13 requirements. It performs independent price verification, identifying and resolving discrepancies. The team oversees the classification of instruments within the fair value hierarchy (Levels 1–3) and monitors the use of pricing models, particularly for illiquid or complex products.

Furthermore, Valuation Control is responsible for calculating various additional valuation adjustments in accordance with Prudent Valuation regulations. As such, the team ensures a robust valuation governance framework to enhance the credibility and reliability of financial reporting by reflecting realistic market conditions, thereby strengthening investor confidence, supporting regulatory compliance, and mitigating the risk of future losses or restatements.

The successful candidate will be a senior valuation control professional with strong technical expertise across financial instruments, valuation methodologies, valuation uncertainty, and regulatory expectations. The role requires strong leadership and involves providing independent oversight of front-office valuations and collaborating with partners across Finance, Product Control, Market Risk, Model Validation, Front Office, Regulatory Reporting, and Technology. The role will provide senior-level oversight of valuation governance, independent price verification, valuation adjustments, fair value control, prudent valuation adjustments, and related control processes.

Tasks

• Lead Valuation Control within Product Control, overseeing valuation governance, independent price verification (IPV), valuation adjustments, and fair value controls
• Defining and implementing the target operating model for prudent valuation adjustments (PVA), including methodology, governance, controls, data requirements, systems, reporting, and senior management oversight
• Lead the development and governance of additional valuation adjustments (AVA), covering market price uncertainty, close-out costs, funding and investing costs, unearned credit spreads, concentrated positions, future administrative costs, and early termination
• Enhancing the Bank’s valuation control framework
• Assessing new products as part of the new product approval process
• Develop a comprehensive fair value levelling framework
• Provide senior-level oversight of valuations for trading and treasury products, including derivatives, fixed income, rates, credit, FX, and structured instruments
• Ensure robust independent price verification through price testing, adjustments, valuation challenges, and escalation
• Provide independent review of Front Office pricing, models, assumptions, and methodologies
• Establish strong governance through methodology reviews, control standards, documentation, approvals, and reporting to senior management
• Present valuation control insights to senior management, risk committees, auditors, and regulators
• Ensure that valuation processes are underpinned by reliable data, systems, controls, and auditability
• Support internal and external audits and regulatory reviews on fair value and valuation control matters
• Drive automation, process improvements, and control enhancements to increase efficiency and scalability
• Lead and develop a high-performing team of valuation control specialists, fostering technical excellence and career growth

Profile / Your qualification / Your personality

• Degree in finance, economics, mathematics, engineering, or a quantitative field
• Extensive experience in risk or finance (10+ years), including at least 5 years of experience in valuation control, market risk, or related banking control functions
• Proven track record of leadership within valuation or product control environments
• Leading the Bank’s PVA initiative within Product Control / Valuation Control
• Deep technical expertise in fair value governance, IPV, valuation reserves, and PVA, including market price uncertainty, model risk, and close-out costs
• Strong knowledge of financial instruments across rates, credit, FX, derivatives, fixed income, and structured products
• Experience in challenging valuation models, assumptions, inputs, and outputs in collaboration with the Front Office and Model Validation
• Thorough understanding of regulatory requirements (IFRS 13, Basel, EBA) relating to fair value and valuation control
• Skilled in designing and enhancing valuation control frameworks, governance, reporting, and system-driven controls
• Strong data and technology awareness, with the ability to drive automation and control improvements
• Programming skills (Python, SQL, or similar) are desirable
• Excellent analytical, communication, and stakeholder management skills—effective at engaging senior leaders, auditors, and regulators
• Capable of leading teams and delivering results in complex, highly regulated environments
• Professional certification (e.g., CFA, FRM, ACA/ACCA, CPA) is desirable
• Business fluency in English required; German is an advantage

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Location

Bahnhofstrasse 36, CH-8010 Zurich