Vice President

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Product Control is a support department for Front and other Middle office areas playing an active role ensuring the firm's profit and loss and risks are managed and reported. Core components of the function are as follows:

• Profit and Loss reporting: Providing Management and the Business Units with key financial information via the P&L reporting and analysis process in a timely and accurate manner. Ensuring all P&L is fully explained via attribution to risk parameter movements and deal activity as well as market-linked commentaries


• IPV and Valuations: Providing Management and the Business Units with independent validation of market data, model inputs and official valuations vs 3rd party sources to ensure all positions are accurately valued. Quantification of valuation uncertainty under regulatory standards including associated regulatory reporting and deduction from Capital resources. Facilitating the implementation of improved valuation models and data structures where necessary


• Provisions and Adjustments: Ensuring the accuracy and sufficiency of reserves and valuation adjustments to support new and existing products and businesses in line with the firm's overall strategy


• Management Information: Providing ultimate quality assurance and sign-off of key P&L-related data and analysis to enhance and expedite performance measurement, resource allocation and decision making


• Projects: provide key input into the design, specification and implementation of systems and controls to enhance underlying departmental processes


• New Products, Complex Transactions and Businesses: Key involvement in the New Product Approval and product implementation processes, ensuring appropriate booking, valuation and reserve methodologies to meet business requirements


• External Reporting: Provide external auditors, regulators and other key stakeholders with financial information and evidence of sound management systems and controls

• Leading and managing the staff within the team to ensure that they (i) understand their responsibilities and duties applicable to their roles, (ii) comply with the Firm’s policies and procedures and (iii) conduct themselves in a way which is commensurate with the Firm’s values;
• Talent management to include recruitment, retention and development of staff to ensure individual and team performance in line with stakeholder expectations;
• Oversight of reporting of daily and periodic profit and loss reporting including analysis via risk parameter attribution and strategy, along with detailed commentary of revenue drivers;
• Oversight of computation and analysis of reserve requirements in respect of provisions and valuation adjustments, including periodic review of methodologies;
• Oversight of review (or where relevant completion of) balance sheet and trade population reconciliations to ensure completeness, existence & accuracy of valuations;
• Oversight of computation and tracking of all manual adjustments, including monitoring and resolution of aged items, and engagement with other functions to address root causes at source where feasible;
• Oversight of management or financial information provided by the team to relevant governance forums or as part of head office reporting packages;
• Identification, escalation and resolution of issues regarding Product Control and related activities;
• Maintaining and enhancing good working relationships with stakeholders, including business and control / infrastructure teams, auditors, regulators, local management and staff of the Product Control and Finance function globally;
• Leading projects and system enhancements as required, ensuring effective control and continuous process improvement;
• Ensure adherence to Product Control and Finance Policies and Procedures as well as to relevant regulatory requirements and accounting standards;
• Documentation of control activities and methodologies undertaken in respect of the above responsibilities to a standard sufficient to ensure hand over of tasks and auditability of results and including the management of operational risks;
• Conducting analysis in support of the Product Control and Finance functions, whether through additional ad hoc tasks or presentation of written materials.