FX Product ControllerFinance
- Salary: GBP 68000.00 per year - GBP 68000.00 per year
- Location: London
- Job type: Permanent
- Reference: BBBH138120
The main functions of Foreign Exchange Product Control can be summarised in five categories:
· Daily/weekly/monthly profit and loss reporting and balance sheet substantiation
- System reconciliation ensuring accounting sub-ledger agrees to front office systems
- P&L attribution using both risk and revaluation based approaches
- Weekly high level P&L commentary, including explaining P&L variances to budget
- Review new trading activity including structured trade reviews
- Agreeing formal P&L figures and P&L attribution with trading desk
- Fair value adjustment reporting
· Other controls/activities including trader mandate monitoring, approximate booking reporting, new product and model signoff, FX exposure management, loss threshold monitoring.
· Daily ad hoc support, acting as a support to front office and infrastructure partners with any ad hoc issues encountered, plus any cross department initiatives
· Financial accounting. Working closely with Financial Control to ensure that the general ledger and financial statements accurately reflect the financial position of the business.
· Project based work including but not limited to
-Supporting business expansion (both geographical expansion and new product offerings)
-Supporting strategic infrastructure developments (specifying system requirements, involvement in testing of system migrations, etc)
-Tactical process enhancements to make recurring tasks more efficient, accurate and value add
-Development of new processes to further enhance the control environment.
Main function of the job, duties and responsibilities
- Provide London point of contact for Foreign Exchange Product Control for Front Office, Operations, Technology, Market Risk, Finance management colleagues. Daily P&L production and FOBO reconciliation work has been offshored to the Singapore team, but many stakeholders remain in London so London Product Control presence is vital.
- Assist with daily and monthly reporting cycle for the GFX business, including P&L production, commentary and analysis; balance sheet reporting and analysis, other controls such as trader mandate monitoring, FOBO reconciliations, Approximate Booking reporting
- Assist with project work to improve efficiency and control of the Product Control processes
- Support reporting activities such as IFRS 13 reporting, mark to model and Basel 3 reporting.
- Review of management information produced by the Product Control team, and review Key Reporting Indicators to ensure that controls are being run effectively and P&L/balance sheet reporting is accurate.
- Numerical degree or equivalent
- Qualified accountant
- Experience working with MS Excel, Word, Outlook
- Interest in banking and financial markets
- Inquisitive and challenging attitude, hunger to challenge the status quo
- Understanding option pricing/greeks
- Ability to work effectively with remote teams in Singapore and Chennai particularly
- Highly enthusiastic self starter
- Excellent interpersonal skills
- Sound time management skills and the ability to meet deadlines
- Highly diligent with excellent attention to detail
- Analytical problem solver
- Strong team player
Person Requirements - Preferred
- Experience of working in an Exotics Product Control Line Role is preferred but not essential