Business Controller recruitment

JOB DESCRIPTION: Product Control for Prime Brokerage EMEA

JOB TITLE: Manager - EMEA Product Control

TASKS AND RESPONSIBILITIES:

1/ Desk revenue allocation reconciliation, including the JVs in coordination with JV coordinator
Ensure that revenue is collected from clients, reconciled and allocated to PB: control on top 20 clients for FO, FX, Equity / CFD. This includes checking the rates applied, that the money has been collected and that all products traded and all accounts are being charged. Proactive lead or participation to projects to widen the scope and/or automate the process.
Ensure all execution brokerage commissions, other commissions including OTC, net interest income, other financing and miscellaneous revenues, rebates from third parties are collected, reconciled and allocated to PB: monthly control on top 20 clients, proactive lead or participation to projects to widen the scope and/or automate the process.
Responsible for managing and identifying JV revenue streams covering JV FX, JV FFO and JV Metals in coordination with PB JV coordinator

2/ Client revenue analysis
Responsible for analysing revenues on a client-by-client basis and maintain profitability of client base. Analysis reporting: quarterly review of top 40 clients, review vs opportunity pricing 1 year after onboarding for all accounts. This review should reconcile the estimated profitability detailed by Sales Exec prior to onboarding with the actual profitability during first year of trading. The results of this review 1 year after onboarding are sent on a quarterly basis to the global head of the BL, the global head and the EMEA head of Origination Structuring and to the BL COO.
Preparation of profitability figures for CLAF renewals at credit committee.

3/ Shared ledger / execution splits claims with FSG and other BLs
Responsible for managing, calculating reconciling P+L resulting from any customers on the shared ledger.
Ensure that all claims into and out of PB for execution activities are recorded, reconciled and collected from or paid to FSG.
Monthly US execution claim agreements via inter-company

4/ Tail Management
Chair the tail management committee
Monitor and provide information on customer top line revenue and to identify customers who are below internal P+L thresholds in the tail management committee and in the PB Client Review Committees.
Co-ordination with OS, Cap Intro and Relationship Management on low profitable clients, including credit renewal files.
Prepare onward monthly MAC Management reporting for PB EMEA.

5/ Client’s Month-end statements (scope to be reviewed with PB COO and Ops within the next 12 months)
Responsible for issuing statements directly to clients, instructing to Client Services the month end charges to client account and ensuring that their accounts are debited accordingly.
Responsible for calculating and instructing any minimum activity charges to clients accounts in coordination with Relationship Management.

Responsible for calculating and instructing any guarantee charges to clients accounts in coordination with Relationship Management.
Responsible for calculating and instructing TRS Fixed and Floating interest charges to client accounts.
Responsible for calculating and instructing any OTC (except FX) charges to clients accounts.
Monthly SLB journal preparation and instructing to Client Services to client debit accounts.
Responsible for calculating and instructing and billing out on Monthly Etrading charges passed to client accounts in coordination with ATS Origination and Relationship Management.

6/ Responsible for issuing formal requests for new, renewals and cancellations of parental guarantees, in-house guarantees and comfort letters. This is based on the requests made by clients and negotiation based on the expected and current NLV of each individual account,
Initiate client guarantee reporting for client where appropriate.

7/ PB Interest
Responsible for ensuring client interest rates are reconciled with the PB internal interest charges benchmark rates.
Ensure interest revenues are profitable for the PB business line and identify any interest exceptions before final offer.
Carry out a yearly review of interest conditions to top 40 clients and all financing clients and propose changes when appropriate.
Maintain PB Treasury Template and guide to quoting clients.
On going review of treasury benchmarks with a view to PB profitability.

8/ Review any rate exceptions which impact profitability at the time of the quote and one year after onboarding.

9/ APAC PB revenue recognition analysis and production based on available revenue information.

10/ Equity SG Custodian and settlement charge analysis and reconciliation.

11/ Exceptional 3rd party brokerage execution claims.

12/ Compliance with the applicable Newedge and Prime Brokerage Business Line mandates and procedures.

SUPERVISION DUTIES:

N/A

SKILLS AND EXPERIENCE NEEDED:

Please outline the skills and experience, which you think are required to do your role. To help you, please bear in mind such things, if appropriate, as: general knowledge and experience of markets, numerical ability, literacy, IT skills, communication skills, language skills, knowledge of regulatory framework in the UK, organisational skills, sales skills etc

a) IT skills (Excel macros) essential to produce various client reports and tackle the day to day desk tasks
b) Market and product knowledge is essential to speak with the clients on a day to day basis and work on internal development projects (Equities, Derivatives, Foreign Exchange)
c) Experience with account structure and double entry essential
d) Good communication skills essential