Structured credit Product Control - Maze ID 172 in London

Department Overview

Product Control is a key function within the Finance department, interacting with virtually every part of the firm’s businesses, products and technology systems. Product Control is a global function with staff located in London, New York, India and across the Asia Pacific region. Product Control reviews and opines on new products and transactions ensuring compliance with accounting, regulatory and valuation guidance and the efficient deployment of the firm’s financial resources.

Product Controllers are expected to develop a good understanding of the products they monitor and of the strategies used by the trading desk to generate revenue. The function has become increasingly technical in content and offers a challenging and interesting role, suited to dynamic, bright and ambitious individuals with a drive to succeed. Product Control has a significant presence and role within the organisation. It has a close working relationship with the trading desks, investment bankers and other corporate areas. It is the central point of contact for many issues that affect the firm including new transaction and product approval, understanding business performance and independent price verification and reserving of trading inventory. It operates dynamically with a heavy focus on automation and technology and is involved in numerous cross departmental projects throughout the firm.

Product control management takes a hands-on approach to running the department and are keen to reward hard work, enthusiasm and success. They positively promote the need to constantly question and challenge, to strive for improvements and to further your understanding. This leads to an ever changing and exciting environment. This presents a unique opportunity to learn and gain experience of a broad range of products and business lines within a supportive setting and surrounded by skilled professionals. The strong team spirit is encouraged by regular departmental social and team-building events, and an emphasis is placed on achieving a healthy work-life balance.

Role description:

The controller will oversee the Structured Credit with product exposure to Credit Default Swaps & Indices, Credit linked notes, Total Return Swaps, Structured Repos and Loans. Operating a mature offshore PL production model meaning the onshore role focused on liaison with the business and value-add advisory work. The role of the onshore team spans business advisory, performance analysis, balance sheet substantiation and valuation controls.

The candidate will need to maintain close working relationships with the trading desk and develop a deep understanding of the business’ trading strategies to evaluate desk performance and provide insight to the firm’s senior management on business performance, challenges and opportunities. The candidate will have oversight of all Financial resource metrics including RWA, Leverage Exposure & Funding requirements and be expected to provide value add analysis of the usage and returns on resources deployed.

The product control team are an integral part of new business development, coordinating the finance response to new products and non-standard transactions, ensuring the new trade proposals meet the firm’s revenue returns requirements. The candidate will be required to develop and maintain a sound understanding of relevant accounting standards and regulatory developments in order to critically assess new business proposals.

The role offers exposure to senior management within Finance, Global Markets, Risk and Operations, challenging the individual to liaise with stakeholders across the bank which will require excellent communication and presentation skills.

Skills, experience, qualifications and knowledge required:

• Relevant product control experience with a strong understanding and experience of derivatives and financial instruments, preferably structured credit products such as but not limited to credit derivative (CDS, credit indices, credit linked notes, total return swaps).
• Preferably a qualified accountant (CIMA, ACCA, ACA, etc).
• Good academics, preferably in a numerate subject.
• Self-starter with strong time management and multi-tasking skills.
• Ability to face off with key business stakeholders.
• Strong communication skills and attention to detail with analytical capability and a can do attitude.
• Track record of improving controls and processes and adding value to clients/stakeholders.

Competencies:

• Explore Insights & Vision: Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.
• Making Strategic Decisions: Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.
• Inspire Entrepreneurship in People: Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.
• Elevate Organizational Capability: Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.
• Inclusion: Respect DEI, foster a culture of psychological safety in the workplace and cultivate a 'Risk Culture' (Challenge, Escalate and Respect).