The Equity Derivatives Business Control # 101536
Product Control is responsible for understanding and controlling the trading business by substantiating the completeness, accuracy and validity of all business related corporate data that is used by Financial Control, Market Risk, Credit Risk, Collateral Management, trading and marketing.
The Equity Derivatives Business Control function is the primary face off to Front Office senior management team, Risk Management, Accounting Policy Group and Financial Accounting. The group has extensive Product Control experience and deep product knowledge that allows them to make decisions requiring a high level of judgment. They have end-to-end knowledge of the business strategy and markets. The team provides a qualitative, analytical, value service to the business and are accountable for the financial results.
This role will offer exposure to some of Credit Suisse' the largest franchises both internally and in the market. The areas that will be covered will be Fund Linked products, Corporate Derivatives, Convertible Bonds & Systematic Market Marking. Experience will be gained in a wide range of product, ranging from Vanilla Equity derivative instruments, convertible bond, CDS and Variable Funding notes to more complex products such as CPPI's and Volatility Target options.
The role involves:
- Accountability for accuracy of Balance sheet & Financial Results:
- Level 1 review of weekly P&L and Monthly P&L cut by MIS and legal entity across different divisions.
- Monthly and quarterly Level 1 supervision, which includes Account Ownership, Sox Compliance reviews, Book Management, Legal Entity and Regulatory Reporting.
- Level 1 review of various quarterly processes including Fair value leveling and consolidations.
- Provide commentaries on balance sheet trends, based on external market factors and deep knowledge of current positions and strategies.
- Facilitate New Business
- Actively participate in the ongoing assessment of structures requiring Pre Trade Approval or New Business Approval.
- Ensure Line Control and Valuation control are brought into the process in their capacity as SMEs for system flows.
- Business Control
- Monitor progress of Business Control against pre-defined success criteria and comply with all internal policies and procedures.
- Take a lead in the liaison with Front office \ Structuring \ Quantitative teams to resolve issues around trade economics, documentation and valuation.
- Take a lead in the liaison with Accounting Policy \ Line Product Control \ Valuation Control\ VRG\ Regulatory teams regionally and globally to ensure the trade is correctly reported in the bank’s books and records.
- Change Agenda
- Supporting Change and Continuous Improvement. Identify and raise potential improvements in the processes and procedures in operation within the area and front office.
- Act as one of the primary contact for entity wide change initiatives such as the SRP program and new infrastructure implementations.
- People Management
- Build and maintain a strong working relationship with key clients, such as Front office, SRM, Financial accounting and Senior Product Control management.
- Provide mentorship and support to direct reports and junior member of staff.
Open to discussing flexible/agile working.
Business Product Controllers must be highly attentive to risk and the importance of a strong control environment and show a high attention to detail in all aspects of their work. They must also possess highly developed analytic, social and communication skills to enable them to build relationships with their key clients and to understand and address their issues.
In addition, you should have the following skills and experience
- 3-6 years working within Product Control
- Bachelor of Science, Account or Business degree with an overall mark of at least 2.1
- Understanding of derivatives products
- Knowledge of USGAAP and IFRS General Accepted Accounting Practice
- Excellent oral & written communication skills with the ability to challenge the status quo
- Commercially aware of external markets
- Strong first university degree, preferably in a quantitative subject
- Teammate, dedicated, self starter, who can be dynamic and implement process changes