Product Control Analyst

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • Cantor Fitzgerald.
  • 17 Oct 17 2017-10-17

The role is Product Controller for Cantor Fitzgerald Europe (‘CFE’) and also the Asian businesses within Cantor Fitzgerald (Hong Kong) Capital Markets.

Main purpose of the role:

The Product Control team are responsible for daily P&L reporting, monthly legal entity close bookings and balance sheet substantiation for Europe and Asia across the Institutional Trading Division, Corporate Finance & Debt Capital Markets Division. CFE Product Control is also responsible for reporting revenue related to the Asian business as well as some Equities/Bond revenue due to U.S. Cantor group entities.  The DCM business has a separate product control team in the US.

Liaising with functional support groups (trade support, front office IT, operations, treasury, regulatory, and legal entity control), the US group reporting teams and also front office traders and business management.  The role also requires the individual to interact with senior management in finance and the front office businesses.

The Cantor front office and finance team require high standards and are demanding in their requirements and results in the Product Control team working hard and sometimes long hours to meet deadlines and complete deliverables.

The role also means that the individual must be good at multi-tasking and is interested in an in depth understanding of the businesses of CFE and its Asian businesses, by interacting with the various aforementioned support groups, trading desks, and senior management.  Due to the development of the business in Europe and Asia, the individual will play a key role in developing the systems infrastructure and ensuring it is robust and sufficiently controlled.  

The role requires the candidate to assist with the month end and year end close process for product control and adheres to a 5-6 day month end closing schedule.

Key responsibilities:

  • Prepare daily P&L for various trading desks in CFE.
  • Perform daily and monthly IPV for trading inventories.
  • Establishing accurate trading inventories which facilitate P&L reporting.
  • Maintain and update models for charging out cash capital and liquidity reserves.
  • Participate in the month end close by uploading and approving journals prepared by members of the team.
  • Ensure the month end closing schedule is completed in an accurate & timely manner.
  • Provide analysis to the business and senior management on an as needed basis – for example, a monthly comparison of reported to actual P&L analysis which explains the variances.
  • Revenue and balance sheet substantiation at a currency level.
  • Propose new procedures which streamline reporting, improve accuracy and efficiency.
  • Assist with the implementation of new systems infrastructure.
  • Liaise with External Auditors regarding account balances and product control processes.
  • Someone willing to do a lot of manual processes using excel as we strive to improve our infrastructure over time.
  • Assist with the Broker Compensation process: calculation, booking and reporting of performance on all aspects of variable compensation for front office individuals on monthly, quarterly and semi-annual pay-outs to those on an annual discretionary basis.
  • Be alert to Conduct Risk issues, specifically the risk of harm to client interests, market integrity and/or competition in financial markets due to inappropriate practices or behaviours across the firm.

Skills / competencies required:

  • Understanding of products – How a P&L should be derived as well as the accounting entries that are created from buy/sell transactions.
  • Good systems understanding and interest (such as front office trade systems, sub ledgers, general ledger).
  • Part Qualified Accountant with previous Product Control experience heavily desired.
  • Interest in developing and continuously strengthening controls.
  • Willing to adapt to changing situations and willing to implement improvements to enhance efficiency and the control environment, when identified.
  • Confidence and ability to interact with Front Office and functional support areas.
  • Capital Markets/ Investment Banking background/experience.
  • An understanding of the importance of balance sheet substantiation and the integrity of the information that will be derived by the Product Control team.
  • Works well with others – team oriented.
  • Ability to multi task.
  • Good written and verbal communication skills.
  • Self-motivated who excels in a high pressure, hands on environment.