Manager International Product Control
Institutional Banking and Markets is responsible for managing the Group’s relationships with major corporate and government clients and institutional investors, and provides a full range of capital raising, transactional and risk management products and services. Our purpose is to enhance our clients’ success through market-leading capabilities and unique insights. It’s part of our DNA.
IB&M also performs an important internal role for the Group by providing equities, markets, lending and transaction banking execution capabilities to other CBA business units that allows them to capture opportunities with business customers.
IB&M Finance supports the IB&M businesses (Institutional Banking and Markets) in providing financial control, financial analysis, product control, regulatory accounting and related project implementation for finance related functions.
Do work that matters:
This role is predominantly responsible for the independent oversight and financial control of designated elements of the London and New York Financial Markets businesses. The responsibilities include production and analytical review of P&L reporting, whilst providing subject-matter expertise on P&L drivers and risk sensitivities. In addition, the role involves performing month end accounting, General Ledger balance sheet reconciliations and providing bandwidth to enable the team to participate in projects to enhance P&L production for the business. The role will also involve close working relationships with Global Markets, Risk Management, Wholesale Operations, Group Treasury and other IB&M finance areas.
Contribution to Profit / Business:
- Preparation of the daily P&L including analysis and explanation of month end balance sheet validation ensuring completeness, accuracy and integrity of the ledger.
- Daily risk reporting, including new deals, referral and significant P&L reporting.
- Investigating and resolving all variances relating to front to back office reconciliations, escalating to management where necessary.
- Understanding the end-to-end flows and processes for the products traded.
- Preparing and reconciling the P&L attribution for all P&Ls.
- Production of P&L commentaries on daily, weekly and monthly basis for circulation to senior management.
- Ensure P&L reported through the Management Information System reconciles to the ledger used by London and New York branches and Head Office General Ledger.
- Performing and ensuring accuracy of daily branch hedging report.
- Compilation and update of Standard Operating Procedures (SOPs) for all process adopted by Product Control.
- Update and contribute toward visual management board stats and forward thinking to improving efficiency.
- Identify and implement productivity initiatives both in terms of time saving exercise and cost saving.
- Support for system implementation projects on both UAT testing and IDRs.
- Preparation of B/S recs and ensuring other month end closing responsibilities are properly discharged.
- Production on monthly key metrics report for each of the business areas with Global Markets.
- Compilation of the daily Product Control Management Information pack.
- Ensure there are sufficient controls over accuracy, completeness and validity of P&L adjustments.
- Understand other Global Markets portfolios and processes in order to provide effective and reliable cover.
- Ensure regular review of controls being performed and adherence to internal and external audit and compliance with regulatory requirements.
- Identify and assess risks that prevent the Product Control function performing its key controls and objectives.
Client/Internal Client/Business Partners:
- Interfacing and forging strong relationships with traders and other infrastructure groups supporting the business, by providing superior service aligned with client’s needs and organisation’s business objectives.
- Taking ownership of issues and following up on a timely basis for ultimate resolution.
- Provide timely and up-to-date financial information to the businesses and hence, support decision-making.
We are interested in hearing from you if you have:
- Some experience with Product Control.
- Good degree in Finance or a related discipline.
- Accounting Qualification CIMA, ACCA or ACA.
- Specialist knowledge in financial markets instruments, namely derivative valuations and pricing techniques including specifying and delivering P&L decomposition reporting.
- Good accounting knowledge and understanding of a range of Financial Markets products – ideally including FX, securities, rates, swaps and other derivatives.
- Ability to identify problems, determines possible solutions, and actively works across various groups to resolve issues in a timely manner. Experience in process improvement and change management.
- Well-developed research, analytical, good communication skills and team player.
- Advanced Excel skills and intermediate to advanced Access skills. Knowledge of VBA, SQL and familiarity with databases.
If you're already part of the Commonwealth Bank Group (including Bankwest), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.
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Advertising End Date: 10/10/2020
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