JOB PURPOSE:
The Wholesale Bank Global Markets & Group Treasury (WB GM & GT) finance team comprises Product Control Independent Price Verification and Sales / MI Support teams. The team supports the WB Global Markets and Group Treasury businesses locally and internationally. The unit falls under the Group Finance department and reports to the CFO WB & International. Key priorities are to develop a bestinclass unit to be seen as a valueadd function with the skills and expertise to partner the business in new product development and their international expansion plans.
The Global Markets Finance team (Product and Valuation Control) is responsible for accounting and financial reporting of the Global Markets business acting as a primary control function and monitoring trading activity to ensure it is in a specified remit. Tasks include Profit & Loss (P&L) reporting and attribution dealing with ad hoc management reporting queries reconciliation and substantiation of P&L and Balance Sheet between the General Ledger (OGL) and Murex Independent Price Verification and hedge monitoring and effectiveness testing. This role is focused on the daytoday support of the Global Markets Product Control business and the daily preparation and control of P&L reporting & attribution general ledger reconciliations and hedge effectiveness testing.
The successful candidate will also assist the Head of Product Control and Senior Product Controllers with strategic initiatives and control issues as required and contribute to process improvements within the function. The candidate should be able to demonstrate accounting and numeracy competence and have a good understanding of financial markets products. He / She must be able to communicate with a variety of divisions within the bank respond to the dynamic nature of an international Global Markets operation whilst being able to supervise and manage staff in meeting challenging daily deadlines.
P&L Reporting
Production of daily and periodic reporting and management information for Global Markets
Monitor and ensure that the P&L is approved by the respective desk on a daily basis
Continually review the MI the unit is producing for correctness accuracy automation and efficiency
Develop and implement P&L Attribution process including P&L impacts from Cancel & Amend trades Day One P&L and Greeks.
Work closely with IPV controllers to understand price testing P&L impacts and process relevant valuation adjustments
Review and suggest changes to the daily sell down process. Ensure the MTM and accrual sell down process are performed as per pre determined frequency
Contribute to project to automate P&L reporting and adjustment process
General Ledger reconciliation
Daily P&L reconciliation process.
Balance Sheet reconciliation and substantiation process
Develop and contribute to reconciliation process improvements and Group Finance project initiatives
Hedge Effectiveness Testing
Assist to review daily monitoring and quarterly effectiveness testing results of Hedge packages performed by Valuation Control Unit
Monitor and advise on IFRS/IAS regarding Hedge accounting
Process and Procedures
Ensure that Product Control audit queries and points have been responded to and managed appropriately
Ensure that Operational Risks in the unit are identified and the appropriate controls processes procedures and reconciliations are in place
Ensure that all processes and procedures for the unit are appropriate current and adhered to
Manage accounting queries with Group Finance including changes to IFRS/IAS
Ensure that all appropriate reconciliations are monitored and are cleared in a timely manner
Assist with strategic initiatives including Global expansion automation of reporting and reconciliation implementation of automated Hedge testing and development of P&L attribution.
FRAMEWORKS BOUNDARIES & DECISION MAKING AUTHORITY:
If any ensure compliance and of RACI accountabilities and responsibilities assigned to him/her as per the approved authorization matrix or documents (e.g. policy process memorandum DOA etc. which is updated from time to time.
Authorized to take decisions as per the approved authorization matrix or documents (e.g. policy process memorandum DOA etc. which is updated from time to time.
Ensure awareness and understanding of authorization provided to him/her from time to time.
QUALIFICATIONS & EXPERIENCE:
Minimum Qualification & Minimum Experience
Qualified accountant or equivalent post graduate qualification (i.e. CA CPA CIMA or Masters in relevant field)
57 years experience in an international Global Markets banking environment
Significant exposure to financial products including FX Rates Equities Credit and Commodities
Strong understanding of current IFRS and IAS including hedge accounting
Welldeveloped team management skills & good experience in the management of a small team
Welldeveloped communication skills verbal & written
A proven ability to operate effectively at various organization levels & a willingness to adopt a handson approach to problem solving where appropriate
Required Experience:
Exec
This listing is sourced from a third-party job board. Applying will redirect you to the original posting.
YO AI Labs
Tanqeeb
The Ritz-Carlton Hotel Company LLC