CIB F&BM - Cash Equities Product Control - VP

London, England, United Kingdom
18 Sep 2018
20 Sep 2018
Contract type
Full time
Product Control
The Product Control group performs the Daily P&L, balance sheet, risk and VaR control activities, including Greek Analysis and provides/controls information required for disclosure in the firm's financial statements and regulatory filings. The group is required to understand the fundamentals of the underlying instruments and business strategy and to continually improve and amend our processes and control infrastructure to stay aligned and relevant to the business and regulatory environment.

The candidate
We are seeking to hire an experienced Product Controller who will manage the overall EMEA agenda for the Product Control team responsible for the EMEA Cash trading businesses. As the EMEA lead, you will be reporting into the global head of Cash Equity Product Control. You will be responsible for the management of the EMEA Cash Product Control agenda and will work closely with other regional Cash leads to ensure consistency, prioritization and alignment of overall global Equity Product Control initiatives and process. You will be actively facing off with senior trading desk heads, business managers and the corresponding heads of other functions (Audit / Financial Control / VCG / Market Risk Coverage/Business Control/Operations).

We are looking for technically oriented candidates who are driven by their desire to challenge themselves and gain a deep understanding of the business. The individual will be required to have excellent communication skills. They will be required to work on multiple deliverables to strict deadlines. This will require the individual to be able to effectively liaise with management, global team members, and various stakeholders at all levels.

The key responsibilities of Product Control are:
  • Running and analysing the mark to market of the portfolio, daily P&L reporting, P&L substantiation, and residual analysis.
  • To perform critical risk control activities with subsequent reporting for Front office, specifically the risk used in VaR calculations.
  • Working with Financial Control to ensure that front to back systems are in line, and to close out month end with accurate reporting of MIS and accounting in the books and records.
  • Month end reconciliations, with emphasis on the control agenda, ensuring integrity and substantiation of exceptions between balance sheet / GL and Front Office systems.
  • Production of daily/weekly/monthly MIS, commentary and controls, and reporting to senior Finance and business members.
  • Working with Front Office on new deals and analysing the impacts to the Control function, as well as evaluating the accounting impacts of complex deals
  • Working with the centralised Balance Sheet function to report on and substantiate Balance Sheet usage, RWA and Funding.
  • Responsible for adding continuous improvements to the process and infrastructure, as the changing regulatory and financial landscape means you will be involved in analysing impact for the business and driving through change.
  • Support of new initiatives, for example new reporting systems or new products

The ideal candidate will have excellent technical and problem solving skills in order to identify, understand and address varied issues:
  • Preferably a qualified accountant ACA/CIMA/ACCA, with proven track record in Product Control
  • Technical understanding of equity markets and products - including derivatives, covering vanilla and exotic products, and excellent understanding of risk and Greeks.
  • Excellent analytical skills, with strong oral and written communication /presentation skills, demonstrating an ability to develop strong working relationships.
  • Self-motivated, initiative taker, who is good at problem solving and devising solutions.
  • You must thrive on task completion, exception resolution and enjoy being constantly challenged.
  • Ability to quickly grasp concepts, learn processes and execute on deliverables in a timely manner
  • Highly organized, and very control orientated with sound time management skills, being flexible to handle multiple tasks at the same time and prioritize the tasks in the order of importance
  • Keen to question everything and understand the detail behind the numbers and/or process
  • Strong accounting knowledge of financial instruments, to ensure compliance with appropriate corporate and regulatory requirements
  • Understand and contribute to control frameworks; Control self assessment (CSA), SOX, New Business Initiative Approvals, etc.
  • Professional attitude, strong team player with a personable / approachable manner
  • Ability to work independently with the focus on efficiency and quality
  • Proven people manager, team builder, collaborator and change agent

About J.P. Morgan Chase & Co:

J.P. Morgan serves one of the largest client franchises in the world. Our clients include corporations, institutional investors, hedge funds, governments and affluent individuals in more than 100 countries. J.P. Morgan is part of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.1 trillion. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of clients and consumers under its JPMorgan and Chase, and WaMu brands.

J.P. Morgan offers an exceptional benefits program and a highly competitive compensation package. J.P. Morgan is an Equal Opportunity Employer

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