As our Financial Controller, you’re part of the Group Finance department. This means you’re involved with the external financial reporting of the KBC Group (on a consolidated level) and the financial management reporting of the KBC Group Executive Committee.

The consolidated quarterly and annual reports for the KBC Group are drafted according to the International Financial Reporting Standards (IFRS). They are partly based on fair value (derivatives and bonds in particular). You focus on:

• objectively assessing whether the output of the fair value models is adequate, in accordance with market trends and internal KBC policy lines;


• ensuring these policy lines are applied correctly and uniformly within the various KBC Group entities and are adjusted if necessary;


• reporting your findings to the Group Valuation Committee that consists of the general directors of Group Finance, Middle Office and Risk Markets.

An objective assessment is needed because the fair value of a financial instrument cannot always be based on available market prices. In such cases, models and assumptions are used to determine the fair value, resulting in some uncertainty and estimation.

In this role, responsibility is shared between the Local and Group Finance departments. Resources from other departments (such as Middle Office, Risk Markets, Front Office) may also be involved. As a result, you’ll work closely with your own teammates, as well as colleagues from the equivalent teams in foreign entities and colleagues in commercial functions. This adds a fascinating international dimension to your role.

• You immerse yourself in how to determine fair value and build up expertise in the area. You are always up to date with evolutions and changes in the field.


• You perform fair value model assessments to make sure that the IFRS principles are respected and to critically evaluate the output of the models.


• You periodically challenge the fair value that is generated (XCA, own credit risk, level classifications, close-out and model risk adjustments, prudent valuation adjustments, etc.). You make a critical analysis of the underlying models and make sure no black-box results are used in reports.


• You report the results of your challenges to management.


• You maintain the policy guidelines from KBC’s Valuation Framework for Financial Instruments


• You provide ad hoc advice to internal and external stakeholders – everyone from auditors and the CFO of the Investor Relations team to the European Central Bank and the National Bank of Belgium.


• You work with the local finance departments in the KBC Group to monitor the correct implementation of guidelines related to fair value. If you identify anything needing attention, you take the initiative to provide a solution.


• You’re co-secretary of the Group Valuation Committee. That involves preparing and leading meetings, presenting specific topics, advising on proposals and communicating decisions.