Lead Valuation Controller – Macro Rates & FX
Wells Fargo · London, United Kingdom · 10d ago
About this role:
As part of the continued growth of our Markets business, Wells Fargo is seeking a Lead Valuation Controller, Macro Rates & FX to join our expanding Valuation Control team.
In this role, you will provide independent oversight, challenge, and governance across a broad portfolio of Rates and Foreign Exchange products, helping to ensure the integrity of fair value measurements, valuation uncertainty assessments, prudent valuation practices, and regulatory compliance. You will serve as a trusted partner to stakeholders across Trading, Market Risk, Quantitative Analytics, Finance, Product Control, and Regulatory teams, supporting robust valuation governance and informed business decision-making.
The successful candidate will bring deep expertise in Rates and FX valuation methodologies, strong knowledge of market and regulatory expectations, and the ability to manage complex valuation issues within a dynamic global environment. This role offers significant exposure to senior stakeholders and the opportunity to contribute to the ongoing enhancement of valuation methodologies, control frameworks, automation initiatives, and governance processes across the valuation control function.
You will play an important role in supporting strategic business growth by providing independent valuation oversight, driving consistency in valuation practices, and helping to strengthen the control environment across complex trading activities.
At Wells Fargo, we value strong risk management, collaboration, accountability, and inclusion. You will join a team committed to delivering robust control standards while supporting business growth and fostering an environment where diverse perspectives drive better outcomes.
In this role, you will:
Valuation & IPV
Lead and oversee monthly IPV processes for Rates and FX trading portfolios, including Interest Rate Swaps, Swaptions, Caps/Floors, Inflation products, Cross-Currency Swaps, FX Forwards, FX Options, NDFs, Structured Products, and other derivative instruments.
Independently validate and challenge market data inputs, including interest rate curves, SOFR discount curves, basis curves, inflation curves, FX forward curves, volatility surfaces, correlation assumptions, and liquidity adjustments.
Review and validate curve construction methodologies, model calibrations, volatility surface development, and pricing inputs utilized by Front Office valuation models.
Assess valuation uncertainty and oversee valuation adjustment methodologies, including Bid/Offer Valuation Adjustments, Model Valuation Adjustments (MVA), Concentration Reserves, Liquidity Adjustments, and other prudent valuation reserves.
Support and lead Prudent Valuation (PVA) processes in accordance with applicable regulatory requirements, including valuation uncertainty calculations, Additional Valuation Adjustments (AVA), and governance standards.
Ensure compliance with Fair Value Hierarchy (FVH) requirements, including Level 2 and Level 3 inventory assessments and associated governance.
Investigate valuation differences, IPV exceptions, pricing disputes, and valuation control breaches in partnership with Trading, Product Control, Market Risk, and Quantitative teams.
Risk Analytics & Reporting
Lead strategic initiatives related to valuation analytics, IPV enhancements, prudent valuation methodologies, and control framework improvements.
Analyse valuation trends, reserve movements, model risks, and valuation uncertainty across Rates and FX portfolios.
Aggregate, reconcile, and report valuation metrics for senior management, valuation committees, auditors, and regulators.
Prepare monthly IPV results, valuation adjustment reporting, prudent valuation reporting, Fair Value Hierarchy disclosures, and executive management reporting.
Drive automation and strategic technology enhancements to improve scalability, transparency, and operational efficiency across the valuation control framework.
Compliance & Governance
Ensure compliance with internal valuation policies, accounting standards, prudent valuation regulations, and model governance requirements.
Support regulatory examinations, internal audits, external audits, and valuation-related reviews.
Maintain comprehensive documentation of IPV methodologies, valuation adjustments, prudent valuation calculations, model limitations, and control procedures.
Partner closely with Model Risk Management and Quantitative Analytics teams to evaluate model assumptions, limitations, validation findings, and remediation plans.
Participate in valuation governance forums, valuation committees, and product approval processes supporting new Rates and FX initiatives.
Collaboration & Leadership
Partner closely with Front Office Trading, Quantitative Research, Market Risk, Product Control, Finance, Treasury, and Technology teams.
Lead valuation control initiatives supporting new products, strategic business growth, system implementations, and regulatory requirements.
Mentor and develop junior valuation controllers while promoting best practices in valuation governance and control standards.
Drive a culture of strong risk management, challenge, accountability, and continuous improvement across the valuation control organization.
Required Qualifications:
Extensive experience in Valuation Control, Independent Price Verification (IPV), Product Control, Market Risk, Prudent Valuation or related financial control functions.
Bachelor's degree in Finance, Economics, Mathematics, Engineering, Statistics, or a related quantitative discipline.
Advanced proficiency in Excel.
Strong understanding of rates and FX products, valuation methodologies and risk management frameworks.
Desired Qualifications:
Familiarity with market data and valuation vendors (S&P Global (Totem), RVS, Bloomberg/Reuters).
Proficient in Rates and FX Derivatives, with expertise in validating volatility surfaces, interest curves, correlation and Calibration methodologies, and other complex model inputs across Rates and FX Derivative products.
Experience with Fair Value Hierarchy (FVH and Prudential valuation governance.
Experience working with regulatory reviews and audit functions.
Advanced proficiency in SQL, and Python.
Demonstrated ability to effectively challenge valuation methodologies and influence stakeholders across Trading, Risk, Finance, and Control functions.
Experience presenting valuation matters to governance forums, valuation committees, auditors, regulators, and senior management.
Exceptional communication and presentation skills, with the ability to engage effectively with trading desks, auditors, regulators, senior management, and global stakeholders.
Posting End Date:
8 Oct 2026*Job posting may come down early due to volume of applicants.
We Value Equal Opportunity
Wells Fargo is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.