Product Control Supervisor
Description Job Purpose:
- Primary Location: Hungary,Budapest,Budapest
- Education: Bachelor's Degree
- Job Function: Finance
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: No
- Job ID: 19035660
The role is part of the Product Control team in Budapest, supporting the EMEA Spreads Trading business.
A challenging role within the Spreads Product Control team, primarily responsible for reporting and analysing the daily P&L and B/S. Candidates will work closely with all other areas of the Finance department, liaising with the trading desk, risk management, operations and middle office. Job Background:
Product Control is the largest department in Finance with responsibility for controlling daily profit and loss reporting, price verification and new trading activity for the ICG in EMEA. The department is organised into business-aligned teams and the product scope comprehensive, comprising cash, derivative, as well as structured and exotic variants of the following asset classes; credit, FX, equity, money markets, commodities and rates.
We work closely across functions on a daily basis (including the Trading desks, Risk Management, Operations, and other areas of Finance) and develop a good understanding of the products traded, along with the associated market risks and accounting complexities.
We offer unique opportunity to get to know all the full range of institutional and investment banking products in the working practice of a globally leading multinational financial services conglomerate.
Our Budapest office is deeply integrated part of the EMEA regional hub, establishing direct contact with the business and finance areas in the regional centre. Key Responsibilities:
• Ensure that the firm's risk portfolios are fairly valued
• Managerial responsibilities.
• Support, develop and review direct reports.
• Challenge and coach team members and make sure their output corresponds to highest standards.
• Daily production of P&Ls and communication / review of results with the Desk. Explanation of P&L movements to management in terms of trading activity, key drivers and profit attribution analysis.
• Participation in desk level activities, including preparing the daily product specific business level revenues and commentary.
• Understand the Price Verification process and its impact on the P&L.
• Work closely with the Valuation Review Team
• Provide detailed market commentary and analysis to verify adequacy of P&L movements and consistency with Desk strategy.
• Reviewing and analysing new trades, understanding the structure, associated risks and the P&L generated on them.
• Push through enhancements, use effective escalation on recurring issues to help reduce the burden on PC, ensure focus on core controls.
• Support standardization project to underlying Product Control's P&L working files for efficiency and consistency across multiple P&L's to enable effective cross-training and consistent controls in detailed working files
• Working with Accounting Policy to determine appropriate accounting treatment for trades under U.S and U.K GAAP.
• Taking ownership of the Balance Sheet and ensuring adequate Balance Sheet and P&L controls exist and are monitored daily.
• Working on ad-hoc projects relating to improvements of system infrastructure. Development Value:
• Develop management/leadership skills
• Learn about Capital Markets products
• Extend product and technical knowledge
• Understand trading strategies and P&L generation
• Deepen knowledge and understanding of P&L attribution, potential to become a subject-matter expert.
• Opportunity to focus on added value work Qualifications Knowledge and Experience:
• Management/supervisory experience
• Good understanding of Capital Markets.
• Good financial/accounting knowledge
• 6-7 years of experience in similar role Skills:
• Excellent spoken and written English
• Strong communication skills - written and oral
• Strong mathematical or analytical background
• Able to "hit the ground running" with enthusiasm. Keen attention to details and the ability to meet reporting and project deadlines.
• A self-starter who proactively seeks to improve existing controls and streamline processes both from a tactical short term viewpoint, and also from a strategic long term perspective, and implement these initiatives to completion.
• Strong PC skills in Excel, Word.
Training will be provided on other systems used within this position such as S2, Oasys etc.
• A desire to learn. Qualifications:
• University/College degree in Accounting/Finance Competencies:
• Excellent interpersonal skills - able to deal with a range of senior/junior staff across a number of departments of the Corporate Investment Bank.
• Able to manage time, people and issues
• Able to prioritise, delegate, escalate
• Theoretical knowledge of financial products
• Control focus
• Ability to interpret and analyse financial information
• Able to perform effectively within a time pressurised environment
• Demonstrable evidence of drive and commitment to process improvement.
• Willing to challenge the status quo
• Candidate will be expected to demonstrate strong leadership abilities and decision making skills.
• Self starter who proactively seeks to improve existing controls and streamline processes both from a tactical short term viewpoint, and also from a strategic long term perspective, and implement these initiatives to completion.