Product Control Accountant

Up to £55000 per annum
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PLEASE CONTACT

SIMON TAYLOR


An opportunity to join the Finance Function as Accountant, Product Control has arisen as a result of increased reporting requirements across our clients Investment Banking arm as well as significant internal projects including implementing new products, reporting processes and hedge accounting.


Role Purpose


This is an analysis and production role within the Finance Function’s product control team. The role has standard daily, weekly, monthly and quarterly deliverables as well as a significant amount of ad hoc queries. This role is expected to have extensive liaison with Operations, “Middle-Desk” within Treasury and Risk Management function.
Key Responsibilities (but not limited to):

  • Ownership of tasks within daily, monthly & quarterly P&L production and Balance Sheet review of all trading and Loan products.
  • Preparation of relevant information on a daily basis to assist the regulatory team with the analysis of the Derivatives portfolio and also the FX Position Risk Requirements.
  • Assisting the Senior Accountant, Product Control with the daily and month-end analysis of:


a. the FX trading P&L;
b. Hedge Accounting analysis;
c. Hedge Effectiveness testing;
d. Reporting and analysis to support the local management accounts and HO Reporting.
e. Independent Price Verification review.

  • Assisting the Senior Accountant, Product Control on the Balance Sheet Substantiation and ensuring that the key reconciliations and analysis are all signed-off and submitted for review as part of the month-end time-tables.
  • Working closely with the Senior Accountant, Product Control and Senior Financial Controller on completion of relevant disclosure notes for the annual statutory accounts and also working closely with the auditors on the accuracy and completeness of the financial statements.
  • Preparation of the daily P&L reports for review by the Senior Accountant, Product Control in order that these reports are published before mid-day on T+1. Escalating issues and concerns immediately where appropriate.
  • Work closely with Senior Accountant, Product Control and assist to develop financial/analysis data and reports for business management in the form and at the frequency required by the ExCo/Management committee/ALCO.
  • Work closely with Senior Accountant, Product Control / Senior Financial Controller and assist with any new product approvals process and to assist in developing financial/product information/data required for any new products.
  • Investigation of issues and exceptions with other members of the Finance function, Technology, Risk and Operations and any other areas of the Bank.
  • Standardizing the documentation for the daily, monthly product control manuals., procedures and processes and assisting the Senior Accountant, Product Control with the periodic updates and reviews of the documentation and proposing required changes.
  • Assisting in the planning, testing and implementation of key systems / upgrades to systems or new products which affect Product Control & wider Finance team as required [NB: for new products this will involve understanding the product features and required analysis of cash-flows/ valuation principles and defining the requirements as part of the New Product Approval (NPA) sign-off].
  • Provide leave of absence cover for the production of other deliverables within the department as appropriate in order to satisfy internal control framework requirements.


Skills, Experience and Qualifications

  • Knowledge of financial products
  • FX Derivatives, Interest Rate Swaps, Bonds and Loan products is highly preferable.
  • High regard for attention to detail and accuracy to ensure close control of the P&L reported.
  • Awareness of emerging industry trends such as Basel capital rules.
  • Ability to partner and work effectively both with direct team members and with colleagues across the wider organization.
  • Proficient in MS Office, specifically a strong command in Excel and PowerPoint

McGregor Boyall is an equal opportunity employer and do not discriminate on any grounds.

 

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