Divisional description
Product Control are the Financial Guardians of the Bank%26#39;s trading activities. We are a global function employing around 800 people, present in offices across EMEA, APAC and the Americas. Our crucial role is fulfilled by ensuring complete, accurate and timely P&L, Balance Sheets and analysis. We also conduct the independent validation of the value of our trading portfolios and work with the businesses and the new business product groups to evaluate & integrate new products and businesses into our financial environment in a controlled manner. Product Control also guards the banks trading activities via the provision of reliable and significant financial information provided to the business managers, external partners and other relevant internal constituents. Importantly, we also execute controls to detect unauthorized trading or unusual activity and report in a timely manner to senior management.
Product Control are the Financial Guardians of the Bank%26#39;s trading activities. We are a global function employing around 800 people, present in offices across EMEA, APAC and the Americas. Our crucial role is fulfilled by ensuring complete, accurate and timely P&L, Balance Sheets and analysis. We also conduct the independent validation of the value of our trading portfolios and work with the businesses and the new business product groups to evaluate & integrate new products and businesses into our financial environment in a controlled manner. Product Control also guards the banks trading activities via the provision of reliable and significant financial information provided to the business managers, external partners and other relevant internal constituents. Importantly, we also execute controls to detect unauthorized trading or unusual activity and report in a timely manner to senior management.
- We are a department that values Diversity and Inclusion (D&I) and are committed to realizing the firm D&I ambition, which is an integral part of our cultural values.
- Production of daily P&L for a number of trading books that have OTC and exotic products. Liaise with Front office and other end users on ad hoc queries.
- Reconcile between front office and the back office P&L systems, this reconciliation pertains to all P&L activity including valuation of positions, cash balances, funding and provisions.
- These responsibilities require a good understanding of trade information process flows between different departments within the bank (Front Office, Operations and Financial Accounting departments).
- Analyse, explain and validate P&L daily according to market moves, new trades and other influences as well as perform risk based P&L. This requires understanding of the various trading strategies.
- Manage all marketing and risk provisions on the books to ensure accurate P&L reporting. This involves understanding how these provision values are derived and how they impact overall P&L.
- Take ownership of any issues that arise from the day to day and monthly processes with a view to resolving these in an efficient and timely manner.
- Perform month end reconciliation of general ledger. Ensure that the inventory is appropriately accounted as per the relevant accounting policies.
- Seek to ensure proper fair value levelling of the inventory in the books.
- Improve the processes to make them more efficient or improve controls.
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