Description

A focused course, tailored for you

Valuation Risk Product Ownership in Capital Markets

Build the model governance, IPV workflow, and regulatory reporting toolkit a Valuation Risk Product Owner is accountable for delivering.

The IPV policy exists. The fair value hierarchy documentation exists. The FRTB reporting template exists. None of them fully align with each other, and each quarter the model validation committee finds something to push back on. A Valuation Risk Product Owner owns all three, but the standard training path covers valuation theory, not workflow ownership.

$199 one-time

Tailored to your situation. Access within 24 hours. 30-day money-back.

Includes a hand-built implementation playbook delivered alongside course access, generated for your specific situation.

Why this course

Independent price verification is the intersection where the front office, model risk management, and external audit all land simultaneously. When the Level 3 classification lacks a defensible methodology note, when the IPV tolerance bands haven't been reviewed since the last product launch, or when the FRTB P&L attribution report is flagged by the desk because it doesn't reconcile to their internal risk system, the product owner is the person who owns the fix. The problem is rarely the model; it is almost always the governance artefact around it. This course teaches the skill of building and maintaining those artefacts at the standard regulators and model validators actually require.

What you walk away with

Design an IPV policy that aligns tolerance band methodology with the fair value hierarchy classification your audit committee will accept.
Build the Level 2 and Level 3 asset classification documentation required under IFRS 13 for a desk-level product perimeter.
Produce FRTB P&L attribution reports that reconcile to front-office risk systems and satisfy internal model validation review.
Build an XVA model oversight framework that tracks assumption changes, sensitivity outputs, and backstop methodology in a single governance document.
Write the regulatory-facing model documentation that survives an ECB, PRA, or Fed on-site model review without supplemental clarification requests.
Own the model validation response workflow: from finding to management action plan to re-review sign-off, tracked in a format MRM accepts.

The 12 modules

Module 1. The Product Owner's Map of Valuation Risk Governance

Defines the accountability perimeter a Valuation Risk Product Owner actually owns: IPV policy, fair value hierarchy oversight, model assumption registers, and the committee calendar. The module maps each artefact to the stakeholder who reviews it (MRM, front office, internal audit, external auditor, regulator) so you can see where sign-off chains break and where documentation gaps create the most exposure. Output: a one-page ownership matrix you adapt to your desk perimeter.

Module 2. IPV Policy Design from the Tolerance Band Up

Walks through the structural decisions in an IPV policy: how to set tolerance bands by asset class and liquidity bucket, how to handle override governance when front-office prices sit outside tolerance, and how to document the override rationale in a way that satisfies both MRM and external audit. Covers the common failure mode where tolerance bands are inherited from a legacy policy and never reviewed after a new product launch. Output: a template IPV policy skeleton with annotated decision points.

Module 3. Fair Value Hierarchy Classification Under IFRS 13

Covers the observable input test for Level 1 versus Level 2 classification, the methodology note required for any Level 3 classification, and the disclosure obligations that flow from the hierarchy position. The module works through three classification disputes common in structured products and exotic rates: when a proxy curve is available but contested, when broker quotes are used but not regularly executable, and when the model is proprietary. Output: a classification decision tree and a Level 3 methodology note template.

Module 4. FRTB Desk-Level P&L Attribution: Building the Report That Passes

Covers the two P&L attribution tests under FRTB SA and IMA, the reconciliation logic between the risk-theoretical P&L and the hypothetical P&L, and the most common break sources that cause desks to fail internal review. Walks through how to structure the attribution report so that it satisfies the internal model validation team's requirements without requiring supplemental manual overlays every quarter-end. Output: a desk-level P&L attribution report template and a break analysis checklist.

Module 5. XVA Model Oversight: What the Product Owner Tracks

Defines the governance layer around CVA, DVA, FVA, and MVA models that a product owner is responsible for maintaining. Covers the assumption register (discount curves, default probability inputs, correlation assumptions), the sensitivity output review process, and the backstop methodology documentation required when the primary model is unavailable or under review. The module distinguishes what belongs in the model documentation versus what belongs in the product owner's governance tracker. Output: an XVA model oversight log template.

Module 6. Model Validation Findings: From Draft to Sign-Off

Covers the lifecycle of a model validation finding: how to read the draft finding report, how to write a management action plan that MRM will accept, how to track remediation evidence, and how to prepare for re-review. The module examines the finding categories most common in valuation risk models (backtesting failures, assumption proxy weaknesses, missing stress scenarios) and the documentation each requires. Output: a finding response template and a remediation tracking log.

Module 7. Regulatory-Facing Model Documentation: ECB and PRA Standards

Focuses specifically on the documentation that survives an on-site model review by the ECB (TRIM/IMI criteria) or PRA (SS3/18 standards). Covers what reviewers look for in the model development document, the validation report, and the ongoing monitoring evidence pack. The module shows the structural differences between internal documentation that satisfies MRM and regulatory documentation that satisfies an external reviewer who has read three thousand model development documents. Output: an annotated model documentation outline aligned to SS3/18 section headings.

Module 8. The Committee Calendar: Preparing Valuation Risk Governance Packs

Covers how to structure the quarterly valuation risk committee pack: the metrics that belong in the executive summary, the findings and exceptions section, the IPV override log, and the model change register. The module works through how to present Level 3 positions to a non-technical audit committee member and how to frame model validation findings in a way that communicates risk without triggering disproportionate escalation. Output: a committee pack template with annotated section guidance.

Module 9. Product Launch Governance: Adding a New Instrument to the Perimeter

Covers the governance steps required when a new product enters the valuation risk perimeter: the pre-launch model risk assessment, the IPV tolerance band review, the fair value classification determination, and the front-office sign-off on the initial IPV run. The module examines the approval chain that most firms have in theory but break in practice when a product launches before the documentation is complete. Output: a product launch governance checklist aligned to MRM and audit requirements.

Module 10. Stress Testing and Scenario Analysis for Valuation Risk

Covers the stress scenarios that specifically affect Level 3 positions and illiquid structured products: credit spread widening, correlation breakdown, and liquidity premium spikes. Walks through how to build a stress testing framework that MRM will include in the annual model validation cycle, how to document scenario assumptions, and how to present stress outcomes to the risk committee in a format that supports capital planning decisions. Output: a stress scenario documentation template.

Module 11. Audit and Assurance: Preparing for Internal and External Review

Covers the evidence pack required for an internal audit review of the valuation risk function: the IPV policy, the override log with resolved exceptions, the committee minutes, the model validation finding tracker, and the regulatory correspondence file. The module works through how to respond to an audit information request efficiently and how to demonstrate control effectiveness without producing new documentation under time pressure. Output: an audit readiness checklist and a standard evidence pack index.

Module 12. Building the Valuation Risk Product Owner Toolkit

Consolidates all module outputs into a single governance toolkit: IPV policy, fair value classification framework, FRTB P&L attribution template, XVA model oversight log, committee pack template, product launch checklist, audit evidence index, and model validation response tracker. The module covers how to maintain the toolkit over the product lifecycle, how to version-control it for audit purposes, and how to hand it over to a successor without losing institutional knowledge. Output: the complete toolkit, adapted to the recipient's desk perimeter.

How this addresses your situation

Specific modules that map to what you said you are dealing with.

IPV tolerance bands haven't been reviewed since the last product launch and MRM is flagging it in the quarterly review.

The Level 3 classification note for a structured rates product is missing the required observable input analysis and the external auditor has queried it.

The FRTB P&L attribution report for the desk fails internal review because the break analysis doesn't reconcile to the front-office risk system.

A model validation finding from six months ago is still open and the re-review is scheduled for next quarter with no management action plan filed.

What you get with this course

Twelve text-based written modules covering IPV policy design, IFRS 13 fair value hierarchy governance, FRTB P&L attribution, XVA model oversight, and regulatory-facing documentation.
Downloadable templates for every module: IPV policy skeleton, Level 3 classification decision tree, P&L attribution report, XVA model oversight log, committee pack, product launch checklist, audit evidence index, and model validation response tracker.
Access to the Art of Service learning environment within 24 hours of purchase.
A hand-built implementation playbook delivered alongside course access, tailored to the Valuation Risk Product Owner role.

What you will have in hand by Day 1, Week 1, Month 1

Account in the Art of Service learning environment provisioned within 24 hours of purchase.

Hand-built implementation playbook delivered alongside course access within 24 hours.

Before and after

Before

The IPV policy, fair value hierarchy documentation, and FRTB reporting template exist but don't fully align. Each quarter the model validation committee finds something to push back on and the fixes are reactive.

After

A complete, aligned governance toolkit: IPV policy, classification framework, attribution reports, and committee packs that pass MRM, internal audit, and regulatory review without supplemental clarification requests.

What happens if you do not address this

The gap between what exists on the tracker and what survives a model validation deep-dive or a regulatory on-site review widens with each new product launch. Each reactive fix adds more bespoke documentation that isn't governed by the policy. The toolkit becomes harder to audit and harder to hand over.

Who it is for

Valuation Risk Product Owners, Senior Model Risk Analysts, and Market Risk VPs in capital markets firms who are responsible for the governance layer around pricing models. People who understand the models conceptually but need to build the documentation, workflow, and committee-ready output that keeps MRM, internal audit, and regulators satisfied across the product lifecycle.

Who this is NOT for. Quants building the pricing models themselves. Traders who consume valuations. Risk technology engineers implementing the calculation engine. This course is for the person who owns the process around the model, not the model itself.

How it arrives

Text-based course in the Art of Service learning environment, plus downloadable templates and worked examples for every module, plus the hand-built implementation playbook delivered alongside course access.

Time investment. Twelve modules, approximately 30-45 minutes each. Most learners complete the course over two to three weeks alongside their regular workload. Each module produces a deliverable you use immediately.

Why $199 is the right number

Model risk management training typically covers model theory, validation methodology, or regulatory capital rules in abstract. It does not cover the governance layer: the IPV policy, the hierarchy classification note, the committee pack, the audit evidence index. Those artefacts are what a Valuation Risk Product Owner is actually measured on. This course fills that specific gap.

FAQ

Does the course cover specific firm architectures or systems?

No. The course covers governance artefacts and workflow design that are system-agnostic. The templates are designed to be adapted to your firm's risk systems, committee structures, and regulatory reporting environment.

Is the implementation playbook the same for every buyer?

No. The hand-built implementation playbook is built specifically for the buyer after purchase, tailored to the role, desk type, and regulatory environment described at enrolment.

Is this relevant for both FRTB SA and IMA desks?

Yes. The P&L attribution module covers both approaches and the governance artefacts required for each. The committee pack and audit evidence modules apply to both.

30-day money-back guarantee. If after a week of working through the materials this is not what you needed, reply to the receipt email and a full refund is processed. No questions, no forms.

Within 24 hours your account in the learning environment is provisioned and the tailored implementation playbook is delivered alongside it.