Key Accountabilities & approximate time split (%)
Responsible for the line product control of a sub-set of an asset class, managing a line PC sub-team to fulfil responsibilities below:
Daily Responsibilities:
- Review daily P&L, P&L attribution, P&L commentary, flash to formal differences and manual adjustments
- Develop a sound understanding of risk positions through detailed discussion with traders and risk managers on risk positions so that an appropriate P&L model is deployed with focus on key risk items and market moves
- Perform insightful financial analysis to draw sound conclusions to present to senior stakeholders in onshore PC locations and Financial Control
- Ensure that the team’s KPI and SLA are met.
- Attend to ad hoc queries from the traders and other infrastructure partners relating to trading revenue and balance sheet
- Foster a culture of performance improvement by serving as a lead for recommendations and be accountable for the delivery of qualitative and efficiency benefits from direct reports
Weekly / Monthly Responsibilities
- Review key weekly & monthly MIS to senior management.
- Gain in-depth understanding of provisioning and price testing controls and processes, and perform detailed review of the working files.
- Engage in detailed discussion with traders, risk managers and Independent Valuation Control team on the results. Liaise with valuation expert on modelling appropriateness and other technical/booking issues.
- Perform detailed review of month end adjustments, and Balance Sheet substantiation
Controls
- Ensure the maintenance of a strong internal control environment. Monitor control reports to ensure accuracy of data for P&L, validation and downstream processes.
- Raise the team’s level of control awareness. Lead by example and engender a strong control culture.
- Ensure clean audit results from internal and external reviews. Ensure the completeness and accuracy of key stroke documentations for key PC processes, risk assessment and SOX documentation.
- Projects and Continuous Improvements
- Identify and drive process re-engineering and constantly challenge status quo for control improvement and process efficiency.
- Motivate and empower the team to deliver continuous improvements.
Management
- Responsible for performance and development of the sub-team.
- Responsible for resource allocation within the sub-team and setting clear objectives for both business deliverables and personal development.
- Provide leadership and support/advice to the team. Focus on prioritisation and delivery.
- Drive team training.
Other
- Ensure escalation of issues to management on timely basis.
- Proactive involvement in new business initiatives.
- Build close working relationship with Front-Office, Middle-Office, Operations and Risk departments and promote PC profile. Be viewed as a trusted business advisor.
Qualifications /education:
- CFA / Masters in Finance / Financial Engineering would be an advantage
Working experience:
- 5-7 years of product control experience in a top tier investment bank
- Audit exposure in large financial institutions / banks preferred
- Technical knowledge / skills:
- Good understanding of end-to-end processes of an IB and associated controls
- Excellent communication and presentation skills in both formal and informal settings & ability to interact with the region and UK / US as part of a global team (written and verbal)
- Excellent time management skills and ability to prioritise
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