product controller - rates & credit in city of london

posted
12 October 2018
contact
randstad financial & professional, randstad financial services
job type
contract
salary
£ 350 - £ 450 per day
apply now

posted
location
city of london, london
specialism
accountancy & finance
sub specialism
Finance
job type
contract
working hours
Full-Time
salary
£ 350 - £ 450 per day
experience
pq
reference number
MJ65274
contact
randstad financial & professional, randstad financial services
phone
02077866923
apply now

job description

We are currently recruiting for an experienced Product Controller on the Rates & Credit desk with one of out top clients in the City of London.

PRIMARY RESPONSIBILITIES

Performance of the following daily activities
* detailed understanding of the product flows, trade bookings and accounting treatments.
* providing support in detailed investigations on FOBO reconciliation activities performed by the Production team.
* daily interaction with Front Office in agreeing that reported p&l and decomposition is in line with expectations, reviewing estimate to actual analysis performed by the Production team .
* ensure that the p&l decomposition attribution is understood and that it makes sense.
* uploading reported p&l and decomposition into DFR.
* ad-hoc analysis required by Front Office and senior management including deep dive on p&l, balance sheet analysis, and other financial analysis.
* provide daily and periodic risk based P&L commentary.

Performance of the following monthly activities
* engagement in the SODS process to ensure appropriate oversight and review is taking place in Product Control.
* review and sign off monthly Pega account attestation process, including preparation of Regional Attestation Committee results
* agree all Prelim to Final P&L adjustments with Front Office and report to DFR.
* provision of Balance Sheet commentary including trend analysis and intergroup break resolution.
* performance of other higher level month end reporting tasks; including review of adjustments and ledger reconciliations, FAS157 disclosures.

Other responsibilities include
* accountability for compliance with the main Finance Standing Order, including Large Day 1 P&L escalation, decomposition unexplained breach reporting
* responsible/accountable for book static data and market data snap issues.
* responsible/accountable for New Business Committee engagement
* responsible/accountable for other Control Framework issues, including periodic audit/OSFI reviews, BRAG, EUC Attestation and control, Operational Risk engagement, Volcker reporting, Finance Function reporting
* involvement in key change management projects to deliver improvements to our daily processes
* ensuring immediate supervisor is kept adequately appraised of pertinent issues and developments.
* ensuring adequate documentation exists to support existing processes, enabling effective cross training and cover
* to ensure PC remains and is seen to be an independent control function


Interaction with the Product Control production team
* work very closely with the P&L production function to ensure a seamless delivery to Front Office
* this will require a well understood hand off between the 2 teams, in line with the "RACI" operating model document


PRODUCT SCOPE

* Corporate, ABS, Government, and SSA securities.
* Repos & Term deposits
* Credit Default Swaps, Credit baskets (eg Itraaxx)
* Single & Cross Currency Interest rate Swaps
* FRA's
* Exchange Traded Futures & Future Options
* FX Spots & Forwards

KEY RELATIONSHIPS

* Financial Control
* Front Office
* Global Risk Management
* Operations
* Valuations group
* Structured Products Business Support
* London IT Functions
* Internal and External Auditors

JOB SPECIFICATION

* recognised accounting qualification
* looking for a candidate with between 2 and 5 years product control experience, gained within a banking/trading environment.
* knowledge of a range of capital markets products (cash and derivatives) covering credit and interest rate risk.
* solid awareness of management and HO accounting processes and financial, statutory and regulatory reporting issues.
* excellent numerical skills with the ability to problem solve in a logical manner
* excellent communication skills, especially with front office members
* able to identify areas of procedural and control weakness and to design robust and automated solutions that dovetail neatly into a fully reconciled B/S.
* strong team player, energetic and self-motivating, innovative, capable of multi-tasking, tactful and reliable.
* capable of working to tight deadlines & under severe time pressure
* capable of logical and practical design and having a keen focus on quality and timely delivery
* effective in allocating priorities.
* assumes high level of responsibility whilst communicating key issues upwards and downwards when required.

WORKING CONDITIONS

Incumbent is based in a working environment characterised by high-pressure decision making, high volumes of business, and large reporting numbers. There can be periods of rapid change and high workloads. In particular the month-end cycle can impose particular time pressure.

Randstad Financial & Professional encourage applications from individuals of all ages & backgrounds. Appointment will be made on merit alone but candidates must be able to demonstrate their ability to work in the UK. Randstad Financial & Professional acts as an employment agency for permanent recruitment & an employment business for temporary recruitment as defined by the Conduct of Employment Agencies & Employment Business Regulations 2003

skills

p&l

qualification

acca

educational requirements

university