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South Africa

Associate Director - Specialised Valuations & Credit Group within Financial Services

Company BDO South Africa
Reference # FSS_01
Published 16/07/2021
Contract Type Permanent
Salary Market Related
Location Johannesburg, Gauteng, South Africa
Introduction
At BDO, we believe in investing in our people to help them grow, both professionally and personally. The foundation of our business is strong relationship, with colleagues, clients and other stakeholders and we work hard every day to make this a reality. Our commitment is to create unlimited growth by giving our people continuous opportunities and our client's unparalleled support.

BDO’s global organisation extends across 167 countries and territories, with 88,120 people working out of 1,617 offices – and we’re all working towards one goal: to provide our clients with exceptional service. Our firms across the organisation cooperate closely and comply with consistent operating principles and quality standards.

BDO’s Financial Services division has a vacancy for an Associate Director (“AD”) within the Specialised Valuations & Credit Group (“SVCG”).
Job Functions Auditing,Other
Industries Accounting & Auditing
Specification
Principle Outcomes:
The SVCG is a specialist valuations and credit risk team, overseeing the fair valuation of financial instruments, hedge accounting compliance (under IAS 39 and IFRS 9), IFRS 9 credit modelling, and investment banking, trading and treasury risk management services (including market and liquidity risk). The team serves both an external audit support function as well as an advisory function within BDO South Africa, and resides within the Financial Services division.

The primary purpose of the SVCG: AD role is to work alongside an existing SVCG AD and support the SVCG Director at BDO Financial Services with leading the SVCG, identifying, leading, and managing key accounts and implementing business development for the Group across South Africa, executing and reviewing financial instrument fair valuations, treasury risk management projects and credit risk services.

The role has a strong advisory focus to identify current market opportunities, introduce thought leadership on practical industry issues and execute on ad hoc and unstructured valuations and risk projects.

The AD will be given the responsibility to co-lead fair valuation and credit audit engagements and consulting projects, which may cut across sectors, but will be based out of Johannesburg. This role will involve taking responsibility for the planning, execution and delivery of specialist engagements; leading projects and specialist teams of consultants and managers to achieve this; and building and maintaining client relationships as well as relationships with other BDO network firms, while delivering on this.

In addition, the AD will be expected to get involved with the day-to-day operations and running of the SVCG, along with that of the broader Financials Services business unit, which include (but are not limited to) functions such as:
•finance (budget and WIP monitoring and management),
•staff recruitment,
•staff training,
•counselling / coaching / mentoring SVCG consultants and managers,
•integration with audit teams to ensure audit quality related to valuation assertions being supported,
•risk management / client onboarding,
•business development plans, tracking and implementation with clients and other BDO member firms, and
•assisting leadership of FS with proactively contributing to setting the FS strategy and then implementing the strategy plan relating to SVCG, once approved.
Focus will be specifically on experience in the Financial Services sector, specifically in banking (markets, investment banking, wholesale and retail credit) and treasuries. Skills and experience needs to be shown in quantitative fair valuation and credit modelling skills, including concepts of derivative trading, valuation adjustments (xVA), market risk management and hedge accounting.

Given the strong advisory focus for the role, it would be preferable that the candidate also has practical experience of valuations and market risk in practice, and practical experience in working within investment banking and practical understanding of related trading processes and controls.

We are looking for candidates who would be:
•A go-getter looking for exciting career growth opportunities in a fast-growing business unit within a leading professional services firm.
•A self-starter that is able to lead teams of professional staff, project manage and run assignments and teams independently, with a passion for client relationships and mentoring young CA / quants talent.
•Able to analyse and make decisions regarding complex accounting, auditing, and risk management matters, relating to the Banking, Lending, Credit and Fair Valuations industries;
•Able to develop and review high quality working papers, engagement files and draft techical reports, and then be able to present the results to senior level staff members at BDO and at clients (C-level staff and Audit / Risk Committee equivalents);
•Able to identify key areas of change and subjectivity affecting the Banking, Lending, Credit and Valuations industry in South Africa, research these areas and summarise internal views and consultations, with a view to providing thought leadership out to the FS market on Fair Values, Credit, Treasury Risk Management and Hedge Accounting;
•Able to collaborate with the existing FS team as part of a flat reporting structure; and to collaborate with other FS and SVCG Managers, Senior Managers, Associate Directors and Partners across BDO Financial Services.
Requirements
Requirements:
•B. Com Honours and CA (SA) qualification is a requirement;
•CFA or equivalent qualification is preferable
•A minimum of 6 years’ post-qualification experience;
•Specific experience in banking and/or lending external audit engagements at a professional services firm;
•Practical work experience outside practice working within an investment banking and treasury environment within the banking industry;
•Skills and experience in quantitative fair valuation and credit modelling skills, including concepts of derivative trading and investment banking, valuation adjustments (xVA), market risk management and hedge accounting
•A sound knowledge of and exposure to the IASB accounting standards, audit standards (ISA’s) currently in issue, and a wide general knowledge of legislation and regulations that could affect financial reporting in the Banking industry;
•Deep knowledge and experience with the application of IFRS 7, IFRS 9, IFRS 13 and IAS 39 currently in issuance.

Competencies:
•Deep technical valuation, risk management and modelling skills
•Building trust and relationships
•Fostering collaborative teamwork
•Accessibility, persuasiveness and influencing
•Proactive in all that we do
•Fostering active communication
•Continuously seeking to add value
•Client focused
•Demonstrating a commercial and innovative digital mind-set
•Aligning career aspirations with the strategies, goals and objectives of the team and firm
•Innovative and willing to share ideas for new ways of working
•Ability to work with all levels within an organisation
•Demonstration of passion and energy to Financial Services and to the specific area of specialisation

The appointment will be made in terms of the firm’s Employment Equity Policy.
Only short-listed candidates will be contacted.
Job Closing Date 23/07/2021
   
   
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Last Updated: 28 days ago [21.06.02.21]
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