The Product Controller position exists within our Business Area Controlling (BAC) team, which is part the Finance Department.
Currently running at 4 team members, the BAC group is responsible for the generation of the Banks daily flash P&L reporting as well as reconciliation of such against the general ledger. Furthermore quantitative and qualitative tasks aimed at substantiating these outputs are undertaken. The main focus of the successful candidate will be on producing accurate and timely P&L reports for a variety of asset classes (Derivatives on IR, FX, Credit, Equity and Commodities) that meet daily, monthly and quarterly reporting deadlines.
Due to ongoing challenge of consistently supporting a set of trading desk, we have a need to strengthen the depth of our P&L team.
We are constantly in the process of system changes/upgrades and deployments to enable VTB Capital to be in a position to capture increased market share, which will ultimately lead to greater revenue generation. A strong BAC team is seen as an integral part is this development, with the P&L generation process being the foundation upon which it will be built.
A successful candidate should expect to gain in depth product understanding on a number of different trade types and asset classes as well as the opportunity to participate in defining strategies for improvements in existing workflows.
To support the career development of all of its staff members, the finance department has a strong track record in sponsoring CIMA/ACCA study and qualifications.
The BAC team is particularly well placed to observe and form the workings of the bank at many levels. Its members are viewed throughout the organization as subject matter experts in their own field, but are also expected to coordinate and lead initiatives across a broader spectrum of support and business functions.
From a geographical perspective the VTB Capital offices in London, Frankfurt and Zug (CH) are coordinated in its product offerings to our clients across Europe and beyond. The successful candidates will have the opportunity for rotations to other locations in order to further enhance their experience and understanding of the asset classes available in each centre.
Working as part of the P&L team and reporting directly to Assistant Director level, the individual will be accountable for a given set of trading books and tasked with producing a fully signed off (by Trading Desk) set of ledger reconciled P&L’s.
This role necessitates a strong understanding of the products being reported on and training on this will be given where appropriate.
Key Competencies & Qualifications
We are looking for someone with a strong analytical and numerical background who demonstrates a keen desire to learn and develop within a growing team. They must be a self-starter and a good team player. Prior experience in a product control role is not a pre-requisite however, as on the job training will be extensive. Similarly, although there is an element of GL reconciliation within the role, the successful candidate need not necessarily have previous experience of double-entry accounting. CIMA and ACCA sponsored study opportunities exist to develop all staff members.
We would therefore consider candidates from a wide range of backgrounds, including those with strong degrees in math’s or science subjects.
Typical Decisions taken by Job Holder
As a member of the book running team, the candidate will need to exercise discretion on the appropriateness of the P&L submission being made. A review of each aspect of these submissions will be undertaken and any issues that arise should be escalated through the appropriate channels for resolution
A complete & regular review of the valuation methodology and sources of market data used will be part of this role and any recommendations that entail need to be formally identified and acted upon.