Product Control is an independent control function responsible for ensuring the completeness, accuracy and integrity of the desk's books and records in coordination with the Treasury Desk, Risk Management and other areas within Finance. The overall objective of this role is to control and support data integrity and general ledger reconciliation, profit attribution and new activity analysis, valuation control and product P&L and balance sheet reporting.
- Ensuring accuracy and completeness of data used for P&L and Balance Sheet reporting.
- Daily collation and production of Treasury P&L report which will include daily communication with the Desk Head and Traders.
- Explanation of P&L movements to management (owning the commentaries at the desk-level), profit attribution analysis (understanding), an understanding of the products traded and oversight of adjustments, position reconciliations and exception reports.
- Daily reporting of the Treasury Product Line Balance Sheet.
- Working with other areas of the bank on initiatives such as Volcker Reporting.
- Ensuring interest revenues on the hedging trades executed by Traders are correctly allocated to businesses across Bank.
- Reviewing and documenting new trades, understanding the structure, associated risks and the P&L generated on them.
- Ad hoc projects that arise relating to further streamlining of processes or strengthening controls.
- 1-4 years relevant experience in a Product Control capacity or in a relevant role that is product and accounting focussed e.g. Risk Management, Price Verification.
- Good understanding of products traded by the Treasury desk, ideally a range of securities products, money market, FX and Interest Rate Derivatives
- Understanding of Funds Transfer Pricing processes
- Ability to demonstrate knowledge of core controls
- Ability to interpret financial information.
- Ability to put knowledge of financial principle into P&L and Profit Attribution analysis.
- Fluent English
- Very good command of Microsoft Excel and Access. Ability to operate and analyse large sets of data
- Structured Query Language (SQL) would be an advantage.
- Master’s degree in Mathematics, Quantitative Methods, Economics, Econometrics, Finance, Banking, Accounting, Computer Science