Valuation Manager, Structured Rates Valuations – Product Control

What is the opportunity?

You will be responsible to perform Global Structured Rates Independent Price Verification (IPV) and Valuation Adjustments (VAs) across a wide range of Interest Rates derivatives positions.

This role works with the Trading Desk, Quants, Market Risk, Valuations Methodology and Senior Management to facilitate business expansion by maintaining strong second line control and governance within the CFO Group.

This position is full time and requires four days in the office.

What will you do?

• Play a role in the calculation of IPV and other VAs across a wide range of derivative positions for the Global Structured Rates businesses within RBC Capital Markets.
• Play a key role in producing and implementing methodology for VAs.
• Provide detailed reports and analysis on IPV/VA results to Business Heads, Senior Management, Valuations and Risk committees, Market Risk and Finance.
• Ensure that existing VA/IPV processes continue to be aligned with the business, regulator and accounting best practice.
• Ensure that all VA/IPV processes are complete and follow RBC’s risk policies and procedures, identifying and escalating appropriate improvements.
• Ensure process documentation is up to date and adhered to.
• Ensure other related valuation responsibilities relevant to Structured Interest Rates are carried out, such as Levelling, Prudential Valuations (AVA) calculations, and large Day 1 P& L investigations.
• Follow EUC (End User Computing, e.g., Cluster Seven) practices.
• Provide subject matter expertise on valuations related projects and initiatives, including ad hoc management and/or regulatory reviews and new business initiatives.

What do you need to succeed?

Must‑have

• Strong technical understanding of derivatives and their valuation, including vanilla and exotic interest rate derivatives. Relevant experience in a Product Control role focusing on Structured Products is an advantage.
• Experience calculating IPV and valuation adjustments. Good understanding of interest rate derivative products and their valuations (e.g., swaps, FRAs, CMS, cap floors, swaptions, basis swaps, cross‑currency swaps, callable swaps, structured products).
• Developed understanding of P& L calculations for businesses that trade these products; understanding of control processes such as IPV and Valuation Adjustments (reserves).
• Experience creating or overseeing professional reports, including written commentary, to fixed deadlines for business and senior management consumption.
• Strong communication skills to liaise confidently and effectively with junior and senior members across the business and external vendors.
• Ability to work to tight deadlines in a pressured environment.
• Ability to work well in a small team and collaborate with staff from various functional areas.
• Strong background in mathematics and/or IT.
• Solid understanding of pricing methodologies.
• Strong written communication—clear, concise, well‑written documents.
• Practical IT experience (e.g., Excel and/or VBA, Python).
• Familiarity with market data platforms and analytical tools, including Bloomberg, Reuters, and Markit/Totem.
• Educated to degree level or similar/equivalent, ideally in a numerical subject. ACA/CFA/CQF would be an advantage.

Nice‑to‑have

• Advanced mathematical and financial product pricing skills.
• Strong Python skills.
• Awareness of key balance sheet and capital metrics.
• Outward‑looking individual with an interest in financial products and strong technical skills.

What is in it for you?

• A comprehensive Total Rewards Program including bonuses, flexible benefits and competitive compensation.
• Leaders who support your development through coaching and managing opportunities.
• Opportunities to work with the best in the field.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high‑performing team.
• A world‑class training program in financial services.

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