Product Control Associate Job Description
Product Control Associate Duties & Responsibilities
To write an effective product control associate job description, begin by listing detailed duties, responsibilities and expectations. We have included product control associate job description templates that you can modify and use.
Sample responsibilities for this position include:
Product Control Associate Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Product Control Associate
List any licenses or certifications required by the position: GLAO, CFA, CIMA, ACCA, ACA, CPA, MBA
Education for Product Control Associate
Typically a job would require a certain level of education.
Employers hiring for the product control associate job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Finance, Accounting, Economics, Business, Engineering, Mathematics, Statistics, Management, MBA, Accountancy
Skills for Product Control Associate
Desired skills for product control associate include:
Desired experience for product control associate includes:
Product Control Associate Examples
Product Control Associate Job Description
- Prepare and analyze daily P&L by risk attribution and market commentary
- Price and oversee some Risk reports for a specific business group on timely and accurate basis
- Conduct detailed analysis in support of the Product Control function
- Participate in month-end close process including reconciliation and adjustments
- Maintain monthly management and metrics reporting
- Support ad-hoc projects and systems implementation / enhancements
- Implement effective process controls and process re-engineering
- Responsible for price verification of positions held in the portfolios – including, but not limited to interest rate swaps, inflation linked interest rate products, credit default swaps, total return swaps on emerging market debt, securities (equities, MBS, ABS, emerging market debt, investment grade bonds, high yield bonds, government bonds)
- Assist in the development of a valuation and price verification framework for newly traded derivatives and securities
- Preparation and analysis of daily Profit & Loss by risk attribution and market commentary
- Product knowledge - a solid understanding of treasury management products, especially areas of global cash and liquidity management
- Month end tasks, including price checks, attribution data checks
- Finance process and transformation experience
- Workstream management experience
- MI Assessment and design experience
- Experience with Regulatory Change, including RRP, Insolvency II and IFRS 4
Product Control Associate Job Description
- Month-end close process including reconciliation and adjustments
- Monthly management and metrics reporting
- Support outer-office groups
- Face off with Front Office on a monthly basis
- Contribute to documents related to regulatory requests
- Review all bonds to ensure proper secured/unsecured funding
- Complete quarterly review of COI charges and trends and provide guidance on appropriate accrual amounts by business
- Participate in reserve methodology discussions
- Serve as liaison regarding several invoiced fees for various businesses
- Drive key initiatives that result in changes to policies and procedures
- Knowledge of OTC Cleared Swaps Derivatives products is beneficial
- Requires an understanding of valuation methods for the types of securities and derivatives mentioned above (including, but not limited to interest rate swaps, variance swaps, inflation linked interest rate products, credit default swaps, total return swaps on emerging market debt, securities -equities, MBS, ABS, emerging market debt, corporate bonds, investment grade bonds, high yield bonds, government bonds)
- Monitor compliance with loss thresholds and trader mandates
- Oversee daily/weekly/monthly P&L and balance sheet commentary
- Intelligently monitor the trading activity
- 3 - 5 years of relevant industry experience with exposure to investment management
Product Control Associate Job Description
- Participate in the development and implementation of strategic initiatives – I.T
- Prepare and distribute timely and accurate daily Profit & Loss for the Equity Products trading desk and oversight of the entity’s clearing activities, with cross training on Listed Equity Options, US Convertibles, Equity Linked Notes, Total Return Swaps and other Structured Transactions
- Develop an thorough understanding of the General Ledger and settlement systems (Imagine, ADP, CMART, Coda/Hyperion, MRP, Progress)
- Prepare Profit & Loss and Balance Sheet Reconciliations as part of month-end close
- Coordinate with legal entity and regulatory accounting, risk, operations, and other support groups
- Create and update monthly analysis with regard to key business drivers
- Prepare commentary and standard period over period analysis
- Daily risk metrics and profit and loss across products mentioned above, including reserves calculation and attribution adjustments and provide commentary to the traders and senior management for review
- Interacting with internal clients, such as Trade Services, Front Office, and Finance
- Acting as a subject matter expert to Risk and Profit and Loss colleagues
- Working knowledge of Private Equity and Private Debt valuations, including knowledge of market approach, DCF, liquidation approach
- Minimum Masters degree in Accounting, Finance or Business Studies
- Excellence academic record with a minimum of Bachelor’s degree in Accounting, Economics or a related discipline
- Must be a fully qualified chartered accountant
- Prior experience of working in Product Control within Investment banks
- Experience in preparing financial statements and reports including P&L
Product Control Associate Job Description
- Acting as a liaison with the Financial Control team to ensure month end reconciliation of ledger to reported Profit & Loss is accurate and breaks are cleared in a timely manner
- Working on quarterly disclosures that require trade level knowledge, such as IFRS13 / FAS157 (Level3)
- Identifying areas for process improvement within the business and finding innovative solutions with specific focus on improving controls and reducing operational risk
- Working closely on global initiatives impacting the Product Control Organization IHC, iMAFA
- Training stakeholders on the new system and process provide post implementation support
- Partner with Technology and CPG Product Control Managers on the SN FVA Phase 2 implementation and contributing to ensure requirements are well understood and documented
- Ensure that the team is in compliance with the P&L and Risk minimum standards, and support projects to improve and enhance the control environment
- Engage with Credit Risk, IT, Front Office and Ops contacts assigned to the IFRS9 project
- Investigate and understand balances by business, subledger and product
- Conduct UAT testing and provide feedback delivering against agreed timelines
- Strong interpersonal and communication skills analytical and organizational skills
- Knowledge of product control policies such as Price Testing
- Experience of working in audit related engagements
- Ability to demonstrate technical accounting knowledge in an area of expertise
- Must be able to pay attention to detail, take initiative to broaden own knowledge and resolve accounting issues
- Experience of improving processes and adding value to clients and stakeholders
Product Control Associate Job Description
- Manage the Daily Profit & Loss reporting
- Manage the month-end and quarter-end close, which involves posting manual journals
- Coordinate with Front Office and Middle Office teams on trade booking and profit & loss booking issues
- Quantification of impact from implementation of new parameters or changes in pricing parameters
- Daily deal monitoring checks
- Market parameters update for structured deals
- Quantification of PL impact arising from independent price verification
- To handle ad-hoc queries from Front Office/Group Risk/TMO/Finance
- Support senior team members in systems implementation/enhancement projects UAT testing
- Actively interact with trading desk, risk, and IPV to monitor risk exposure and pricing variance of assets
- End to end ownership of the monthly financial and MIS close process as it relates to Brokerage products sold through GWM
- Demonstrable aptitude for problem solving with the ability to exercise sound and balanced judgment in a highly regulated environment
- Must be committed to keeping up-to-date with emerging business, economic, and market trends
- Must possess the ability to successfully handle multiple tasks, take initiative to improve personal performance and work intensely towards challenging goals
- In addition to judgment and problem solving, must have strong communication and influencing skills
- Familiarity with various Regulatory reforms, such as Volcker, Basel III