Product Control Role - Fixed Income

Function: FRC Product Control

Location: Hyderabad

Work timing: EMEA work timings (12 noon to 9 pm).

Brief Job Description:

- Good understanding of Fixed Income products and their life cycles

- Understanding of Front to back reconciliations and infrastructure

- Investigation and correction of reconciliation breaks involving communication with onshore teams, other BUCs, operations, IT etc.

- Understanding of T0 PnL and T1 PnL, Scallop attributed PnL and Risk sensitivity based PnL

- Clear understanding of how to validate and substantiate PnL drivers, explaining in terms of book risk positions, PnL attributes and economic factors

- Clear understanding of process and controls on Day 1 PnL, MTM PnL, Other Revenues and Expenses

- Understanding of PnL Reporting and writing Commentary at group level

- Hands on with Daily Balance sheet substantiation, investigation and commentary

- Weekly PnL and Balance sheet commentaries explaining the key drivers

- Clear understanding of reconciliation of Balance Sheet Accounts, evidence & signoff

- Regular follow-ups & escalations on Red signoff balances and resolve on a timely basis

- Understanding of posting rules and data flow & impact into PnL and Balance sheet

- Fair understanding of Monthly IFRS and Fair Value PnL & Balance Sheet and its impact on reporting

- Understanding of different Accounting standards and GAAPs

- Fair understanding of 3 way reconciliation and investigation of breaks

- Good accounting knowledge & experience in product control is a key

- Perform key procedural controls on a daily, weekly & monthly basis

- Review & signoff of daily PnL, commentaries, adjustments and review any key risks in the process

- Review of weekly commentaries and provide sign off to senior management

- Review of monthly balance sheet accounts and signoff as reviewer and ensure all open items are tracked to closure on timely basis

- Review the IFRS Balance sheet and PnL and provide signoff on commentaries

- Front to back understanding & implementation of various controls performed in Product control

- Accountable for performance and associated risks for all activities performed within the service delivery group ensuring at a minimum all SLAs are met

- Foster an environment that understands and effectively manages risk, abides by risk and control guidelines

- Partnering with the change team and onshore stakeholders to deliver an optimum operating environment

- Should possess knowledge on different quality tools and methodologies

- Ensuring that the integrity of the operating environment meets audit and regulatory standard

- Manage various stake holders expectations and be part of all supervision & governance calls

- Liaison with other functions : Middle office, Front office, Other control groups, Auditors

- Client management is a key and ensure surprise free operations

- Sound Analytical skills in order to address issues and come up with right solution / RCA

- Ensure Customer satisfaction and Employee satisfaction scores as per defined targets

- Identify cost optimization / business impact opportunities

- Conduct performance appraisals for team members- provide input into the learning and career plans for team members

- Involvement in recruitment, training and development, talent management and retention

- Communication and escalation to onshore & offshore senior management

- Sound interpersonal skills and coaching skills to help team on their personal development

- Should possess team managing skills and should have handled a team in past

- Should be able to adapt change and drive right behaviour with in the team

Educational Qualification:

- B.Com/M.Com/MBA/PGDBM/CA/CPA (preferably a post graduate in Finance)

Work Experience and Skills required:

- Strong domain knowledge in the area of product control for Fixed Income products like Swaps, Derivatives, Futures, Options

- Excellent oral & written communication

- Ability to ensure and deliver timeliness and quality of output

- Strong in Microsoft Excel & other IB tools / applications

- Direct client & team handling experience

- Key role would be hands-on work on deliverables and review of tasks & controls

- Timely completion of all self and teams deliverables as per clients expection

Good to Have:

- Experience in P&L Reporting for an Investment Bank

- Understanding of valuations for equity and fixed income products

- Understanding of a trading desk balance sheet, funding requirements

- Knowledge of SAP and Business Objects would be beneficial

- Experience in Fund Administration especially Hedge Funds

- Green Belt trained / certiied

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