Structured Notes Product Control # 101188

This role falls within the Structured Notes team, which comprises 3 aspects:



  • The team controls front-to-back, the Structured Notes Issuance portfolio for the three key note issuing entities – London, New York and Nassau Branches across all Divisions

  • The team validates the calculation of own credit (also known as Debit Valuation Adjustment) on the Structured Note population across all entities

  • Management of migration of Structured Notes from Legacy platforms to the Target Operating Model (TOM) platform



The combined team works closely with Front Office (FO), COO’s, Treasury, Finance and Operations and are responsible for the integrity of the books and records. The bespoke architecture and operational complexities surrounding Structured Notes and the significant own credit exposure means that this is a high profile space with numerous challenges as Structured Notes are migrated from Legacy to TOM platforms, involving close interaction with the Structured Notes Project team and FO. The area is complex due to its operational processes, dispersed FO ownership and accounting and valuation challenges.







The key deliverables of the role are as follows:





Daily



  • Pre-migration Structured Note P&L verification with FO and granting FO approval to migrate Structured Notes from Legacy to TOM platforms

  • Post-migration Structured Note P&L verification and assessing Group migration P&L impact between Legacy and TOM books with other PC teams

  • Cover for L1 review of Own Credit Daily P&L



Monthly and Quarterly



  • Verification of monthly migration P&L between platforms

  • Supervisory reviews of Branch Balance Sheets for Legacy platforms, including validation to source systems

  • Supervisory Reviews (L1) for Account Ownership and SOX controls

  • Supervisory Reviews for Product Mapping, Price Testing Uploads and Fair Value Reporting



Ad Hoc



  • Providing Subject Matter Expertise input into strategic deliveries and tactical improvements in execution

  • Process improvement, achieving efficiency and reduction in operational risk

  • Mentoring for junior employees within the team



Open to discussing flexible/agile working.



  • Product Control experience (4 Years +)

  • You will have a strong accounting skills required (US GAAP essential, Swiss GAAP & IFRS would be an advantage)

  • You will have knowledge of financial products and standard control processes around them

  • Cross-functional knowledge of bank and ability to build relationships

  • Confirmed ability to implement change and manage strategic agenda

  • Excellent communication skills, strong inter-personal and execution skills

  • Ability to understand/explain complex concepts