Business Unit Control

Business Unit Control

Operations and Middle Office is one of the largest departments at Millennium. The Middle Office group consists of three interconnected functions in the post-trade lifecycle: trade support, valuations, and business unit control. Middle Office supports all products traded within the firm – ranging from simple listed equities to complex derivative products.

We are looking for a driven and detail-oriented candidate to fill a Business Unit Control role focused on performing the daily firm-wide Independent Price Verification (IPV) of all asset classes. Experience in IPV, ideally in the rates/macro space, is a key focus for this role.

Principal Responsibilities

• Compare internal valuations against third-party valuations to identify discrepancies. Investigate and resolve valuation breaks by collaborating with portfolio managers, traders, risk management, valuation experts, and third-party vendors.

• Ensure the accuracy and integrity of the valuation process for the hedge fund's investment portfolio, including equities, fixed income, FX, credit, and other financial instruments.

• Coordinate and manage the year-end audit process, acting as the primary liaison between the hedge fund and external auditors regarding all valuation-related queries.

• Identify and implement process improvements to enhance the efficiency and effectiveness of the valuation control framework.

• Prepare and present valuation reports to senior management, highlighting key findings and providing actionable insights.

Qualifications/Skills

• 4+ years of relevant experience in Valuation Control.

• IPV experience, ideally in the rates/macro space (I.e. Interest Rate Swaps, Swaptions, Caps/Floors, CMS Spread Options, FX Options & Forwards, etc.)

• Understanding of derivatives Greek P&L attribution with experience in analyzing and explaining P&L.

• Ability to prioritize in a fast-moving, high-pressure, constantly changing environment; high sense of urgency.

• Interaction primarily with traders, senior management, and valuations.

• Demonstrable thoroughness and strong ownership of work.

• Strong communication skills.

• Experience in automation/process improvement.

• Strong Excel skills (Python/VBA).

• Knowledge of Bloomberg.

• Murex/Imagine/Endur knowledge would be a plus.

The estimated base salary range for this position is $70,000 to $160,000, which is specific to New York and may change in the future. Millennium pays a total compensation package which includes a base salary, discretionary performance bonus, and a comprehensive benefits package. When finalizing an offer, we take into consideration an individual’s experience level and the qualifications they bring to the role to formulate a competitive total compensation package.