Equity Derivatives Business Control - ENO # 107884
Credit Suisse is a leading global wealth manager with strong investment banking and asset management capabilities. Founded in 1856, Credit Suisse has expanded to be a global force employing over 45,000 people in 50 countries. With new leadership, a new strategy and a streamlined global organization, we are set for growth. We partner across businesses, divisions and regions to create innovative solutions to meet the needs of our clients-and to help our employees grow. It is a high priority for us to continually invest in our employees by providing ongoing opportunities for training, networking and mobility. Join us and let's shape the future of Credit Suisse together.
The Finance division at Credit Suisse aspires to be the best Finance division in the industry and a core driver of the bank's vision. Our focus is to manage the bank's capital, funding, liquidity and expenses to ensure we are well capitalized and have a strong enough balance sheet to withstand adversity and uncertainty. We are committed to drive cost efficiencies, improve control, quality and efficiency of our information and to engage with the businesses to actively prepare the bank for regulatory changes. To fulfill our mandate we need the skills, experience and engagement of our employees. We need to attract the best people and engage, grow and retain talents through a rewarding and inclusive partnership culture.
Credit Suisse's Equity Derivatives business is a leading Global Franchise. We offer a wide suite of financial solutions including, amongst others, Vanilla & Structured Derivatives, Structured Notes, Multi-Asset Products, Equity Backed Financing and Fund Linked Products.
The Business Control function is the primary face-off to Front Office trading/management teams, 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 judgement. They have end-to-end knowledge of the business strategy and markets. The team provides a qualitative, analytical, value-add service to the business and are accountable for the financial results.
The team based in London focuses on new trade approval and new trades P&L validation, Risk basked P&L, analytical reviews, and relationship management with FO and other key stakeholders. There is an offshore team in India running FOBO reconciliation, P&L attribution, Balance Sheet production.
This role is an ENO level role and you will need to take ownership of the execution of all responsibilities that fall upon Business Control. These include:
- Validating New trades P&L including understanding trade details and valuation and review of over hedges according to PIP (Product Information Pack) and pre-trade approval.
- Reviewing Risk based P&L vs Reval based P&L: investigate significant discrepancies between risk based P&L and reval based P&L; provide commentary and actively seek solutions for issues.
- Understanding of Daily/Weekly/Monthly P&L, including market move, carry, new trades and others.
- New trade/product approval after understanding of payoff structure, trade booking model, valuations and accounting implication. Liaise with Front Office and Valuation Control team to discuss and resolve issues.
- Understanding of Fair Value levelling; Production and analysis of Fair Value disclosures.
- Monthly review of significant Balance Sheet move on trading activities.
- Active participation and adding value to PC and Business projects; Be able to discuss and resolve issues efficiently in partnership with other teams.
- Performing SOX controls on key processes.
- Maintaining key relationships and representing the PC agenda in meeting with functions such as Front Office, COO, Market Risk, Credit Risk, Technical Accounting, Financial Modelling, etc.;
- Maintaining a close relationship with the offshore team to ensure accurate P&L and Balance Sheet and strong controls.
- Ideally you will have 2 years' experience in Exotic derivatives within Banking. Any asset class is fine, preferably Exotic Equity Derivatives.
- You should have a deep understanding of Exotic derivatives and Structured Notes including front to back business, products and valuations.
- High regard for attention to detail and accuracy to ensure close control of P&L and Balance Sheet.
- You posses strong written and verbal interpersonal skills.
- You are highly self-motivation and have the ability to work both independently and as an effective team member.
- You have the ability to partner and work effectively both with team members and with colleagues across the wider organization.
- You should have excellent academics: Bachelor of Science, Accounting or Business degree with an overall mark at least 2.1 from a well-respected university, preferably a numerate Master degree.