Associate Director, Product Control – Risk Management Group (London)

Overview

We are offering an exciting opportunity to join our London Product Control team, where you will play a key role in providing financial reporting and support to the Front Office desk (Risk Management Group). This desk is responsible for funding/collateral related valuation adjustments for derivative trades. This is a permanent, full-time role and requires 4 days in the office at our 10 Fenchurch Avenue, London Office.

What will you do?

• Daily supervision of reporting by members of the team, and daily production of daily desk P&L including commentaries.
• Provide an effective link between Front Office (FO) and Financial Control, requiring detailed product knowledge, so that disagreements in daily P&L are resolved timely and ultimate P&L agreement with FO is achieved, evidenced and logged.
• Ensure integrity of the bank’s books and records via reconciliation and attestation.
• Assist with higher level month end reporting tasks, including creation and review of adjustments, ledger reconciliations, attestation and production of adequate audit trail.
• Provide leadership and input into designing, testing and delivering major infrastructural changes for the business. Involvement in change management projects to deliver improvements to daily processes.
• Ensure adequate documentation exists to support existing processes, enabling effective X-training and cover.
• Report consolidated results to senior management including appropriate valuation adjustments.
• Assess areas of procedural and control weakness and implement solutions through redesign, procedural improvement and technology advancements.
• Facilitate adherence to and substantiation of Regulatory and Audit requirements within Capital Markets.

What do you need to succeed?

Must-have

• Demonstrable and relevant Product Control experience (ideally in Interest Rate Derivatives products) gained within a banking/trading environment.
• Required recognised Accounting qualification expected, but exceptional candidates may qualify with relevant experience.
• Strong product accounting skills with solid awareness of management and HO accounting processes and financial, statutory and regulatory reporting issues.
• Strong intellect, energetic and self-motivating, a people manager with a team player ethos, innovative, capable of multi-tasking, tactful, reliable.
• Creates solutions which are well designed and logical; have near optimum efficiency/levels of automation, with a keen focus on quality and timely delivery.
• Excellent communication skills especially with Front Office members.
• Assumes high level of responsibility whilst communicating key issues upwards and downwards when required.
• Capable of working within tight deadlines and under severe time pressure. Strong ability to convert theory into practice.
• Excellent numerical skills with the ability to problem solve in a logical manner.
• Able to identify areas of procedural and control weakness and design robust and automated solutions that dovetail into fully reconciled B/S.

Nice-to-have

• Good awareness of derivative valuation adjustments particularly on CSA discounting.
• Familiarity with Trade booking systems such as Murex.
• Strong knowledge of “Greeks” based decomposition.

What is in it for you?

• A comprehensive Total Rewards Program including bonuses, flexible benefits and competitive compensation
• Leaders who support your development through coaching and managing opportunities
• Opportunities to work with the best in the field
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• A world-class training program in financial services

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