Vice President - Product Control

Vice President - Product Control

- The Product Control function focuses on the accurate reporting of P&L and verification of trade level valuations. In particular it is the responsibility of Product Control to ensure the accuracy and integrity of revenues generated by the desk, to ensure the balance sheet and risk systems accurately reflect risks involved in business activities and to ensure that the general ledger properly reflects the P&L and positions relating to the products traded.

- Further PCG is required to provide detailed commentary and MIS for senior management on the business, analyzing significant market and position factors contributing to these results, as well as reports for regulatory capital calculations

Main Function

(i) Team Management

- Management of the team’s business deliverables and individuals’ career progression.

ii) Controls

- In order for the P&L and validations processes to be performed with reliability and accuracy, various control reports are monitored.

(iii) Daily P&L reporting and Monthend Close

- The product control function is responsible for the accurate reporting of daily P&L. Various controls are performed in order to complete the verification. This includes: ensuring the accuracy of trade bookings; correct use of models; and accuracy of data feeds/flows.

Main Duties

Responsible for Product Control of the Syndication business, managing a team of 12 people. The role will entail:

(i) Management

- Responsible for performance and development of 12 staff.

- Responsible for resource allocation within the 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

(ii) Controls

- 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 controls culture.

(iii) Stakeholder Management

- Build close working relationships with Front-Office, Middle-Office, Operations and Risk departments.

- Be proactive in new business initiatives.

- Be viewed as a trusted business advisor to other departments and Finance management.

- Ensure escalation of issues to management on timely basis.

(iv) Daily P&L reporting

- Review the daily P&L, including understanding risk positions and market moves for P&L explanation. This includes commentaries, P&L attribution, Clean/Hypo, Flash/Formal, etc.

- Engage in discussions with traders and Risk on risk positions and P&L.

- Understand system and control framework and apply to daily work.

- Ensure that daily deadlines are met.

(v) Month/Quarter/Year End Close

- Balance sheet substantiation, account ownership and FX position management.

- Price Testing review.

- Accounting disclosure reporting.

MIS Reporting.

(vi) Projects and Continuous Improvements

- Drive improvements in controls and efficiency.

- Conduct UAT testing for new system implementation.

- Integrate new products into existing control infrastructure.

Person Specification

- CA / MBA with 12+ years of post qualification experience

Interested candidates may mail at shruti.upreti@mancerconsulting.com