An opportunity has arisen for an experienced Valuations Manager to join a highly prestigious private bank, based in the heart of London. The role is driven by Basel 3.1, which changes how banks must value and revalue the property they lend against. The bank works with three Automated Valuation Model (AVM) suppliers, and you will be responsible for monitoring the valuations they provide and making sure the bank’s valuation criteria meet regulatory requirements. You will work closely with internal teams across the bank.

This is a specialist role at the point where property valuation meets regulation. You will be the bank’s main point of reference on how valuations are obtained, checked and kept up to date, and you will help shape how the bank responds to the new rules.

Duties of the Valuations Manager to include:

• Monitor the valuations provided by the bank’s three AVM suppliers, checking that they are reliable and fit for the bank’s purposes.
• Compare outputs across the three suppliers, identify inconsistencies, outliers and quality issues, and raise them with the suppliers.
• Review the accuracy and performance of each AVM over time, including testing results against other valuation evidence where available.
• Ensure the bank’s valuation criteria meet Basel 3.1 requirements and remain compliant as regulatory expectations develop.
• Make sure property revaluations take place at the required frequency, which under the new rules is every 3 to 5 years, or sooner where a property’s value moves by more than 10%.
• Track which properties are due for revaluation, and monitor property market movements to identify where the 10% threshold may have been reached.
• Liaise with internal teams, such as Credit Risk, Lending and Compliance, on valuation requirements, queries and issues.
• Maintain the bank’s valuation policy, criteria and procedures, updating them as regulation or supplier arrangements change.
• Prepare management information on valuation coverage, exceptions and compliance with revaluation requirements.
• Support internal audit and regulatory reviews, and respond to queries on the bank’s valuation approach.
• Escalate valuation exceptions and regulatory risks to senior stakeholders in line with internal policy.
• Contribute to supplier reviews and look for ways to improve the valuation process.

Requirements for the successful Valuations Manager to include:

• Experience of property valuation, collateral management or credit risk within a bank, building society or other regulated lender.
• Working knowledge of AVMs, or of managing third-party valuation providers.
• Understanding of the regulatory requirements that apply to property valuations, ideally including Basel 3.1.
• Experience of monitoring data or supplier output and spotting errors, trends and exceptions.
• Strong analytical skills and close attention to detail, with confidence working with large data sets in Excel or similar tools.
• Experience of preparing management information and written reports for senior stakeholders.
• The ability to work with, and influence, colleagues in a range of internal teams.
• Experience within the UK regulatory environment.
• Degree level education or a suitable equivalent is desirable.

This vacancy is being advertised by Montpellier Resourcing Associates Limited. The services advertised by Montpellier Resourcing Associates Limited are those of an Employment Agency