The Valuation Group (VAL), within the Finance Department Cross Expert Group dedicated to GBIS (DFIN/GBI/CEG), is a worldwide team whose core mission statement is to ensure that valuations reflected in financial statements are in line with normative accounting requirements and industry best practice.
This mission statement translates in various functions and deliverables, which include the following:
· Chair and prepare global and regional Valuation Committees.
· Define and maintain Valuation Policies.
· Centralize Independent Price Verification (IPV) reports, and perform IPV on implicit parameters.
· Design, manage and centralize product and parameter valuation cartographies.
· Compute, analyze and report valuation adjustments (Global Valuation Review Committee).
· Design Day One Profit and Level 1/2/3 observability rules.
The core VAL team is located in Paris, but the Valuation Group is also represented in the US and in Asia through the concept of ‘extended team’: the Valuation Group acts as one global team for GBIS market activities worldwide.
The Valuation Group has taken a new step forward in its organization with the deployment of a team in Bangalore: this team mission statement would focus on IPV (Independent Price Verification) and RP (Reserve Policies), but is expected to take on further tasks and responsibilities.
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