CIB – F&BM – EMEA Rates – Product Controller – Associate
The EMEA Rates Securities Financing Product Control team, within IB Finance and Business Management, is responsible for supporting the Rates securities trading team and the Rates Financing team. The Rates Securities trading team is comprised of the Government Securities, Sovereign Derivatives and Frequent Borrowers desks who are market makers and in Government securities, Sovereign Derivatives as well as Government Agencies, Supranationals and Covered Bonds. The Frequent Borrowers desk also has an underwriting business for Government Agencies, Supranationals as well as Corporates who wish to issue covered bonds. Financing desk manages the funding and liquidity by funding desk positions as well as covering shorts.
The Product control team is responsible for daily PL and month end PL production as well as preparation of month end and quarter end regulatory submissions and Balance Sheet analysis. The team is also expected to provide advisory support to the business and will be a main contact for queries about the business from stakeholders such as audit, financial control, VCG, risk, trade support and the business manager.
Key responsibilities:
The successful candidate would be responsible for managing a team of three for PnL and Balance Sheet reporting as follows:
PL
• Managing the day to day PL Balance Sheet reporting requirements of the EMEA Rates Financing team
• Cover/Production of T 1 PL to Front Office and obtaining daily PL sign-off, including substantiation through comparison to trader predicts, current risk and market moves.
• Perform the analytical review of the desk PL and explain the business drivers of the PL movement.
• Reconciliation and reporting EOD Risk and obtaining daily risk sign-off.
• Analysis and reporting of any differences between official EOD risk and traders' estimates.
• Reconciling and owning inputs to the Value-at-Risk (VaR) calculations of the firm
• Provide ad hoc reports driven by Front Office, Market Risk and Business Management
• Primary Point of contact for issues with respect to EMEA Rates risk and PL
• Month end – Liasing with Financial control to reconcile PL Aggregator to general ledger, review of reserve adjustments and other month end adjustments.
• Ensure month end/quarter end reporting deadlines are met
Balance Sheet
• Oversee Preparation of Daily Balance Sheet reporting. Weekly, monthly and quarterly balance sheet analysis and commentary.
• Review/
• Assisting in preparation of month end and quarter end regulatory submissions (e.g. Fair Value Option, RWA, LCR, Pledged Assets, Available Collateral) and partner with FSA team for FSA submissions.
• Providing an interface between the trading activities of the regional trading floors and other processing groups within the bank, ensuring that the business results are correctly reflected in the various financial and regulatory reports.
• Partnering with key stakeholders including Middle Office, Financial Control and LEC to quantify potential impacts of identified issues and ensuring impact on financial statements are understood.
• Working with Accounting Policy to ensure any regulatory changes to reporting are reflected in our balance sheet or reflected appropriately in our disclosures
• Enhance daily process to increase control and integrity of process.
Controls
• Review the key control metrics and monitor the current control issues ensuring they are effectively escalated and mitigated.
• Pro-actively identify the control risks and manage the subsequent project plans to achieve resolution.
• Ensure the integrity of the business financial results are maintained under US and local regulatory requirements
Qualifications:
Required Skills:
• Experience in Finance in the Banking Industry - essential
• Experience in either Product Control PnL/Risk reporting or Regulatory Reporting (both would be an advantage but not essential)
• Degree Qualified - essential
• Experience in US GAAP Regulatory Reporting or Basel Reporting would be an advantage
• Preferably have experience of Managing a small team
• Good financial product knowledge, fixed income products would be an advantage.
• Ability to work effectively meet challenging deadlines and be able to work under pressure
• Analytical and quantitative aptitude. Ability to identify and solve problems independently.
• Team player with ability in managing daily processes and interacting with the business
• Strong interpersonal skills and good communication skills
• Strong technical skills (Advanced Excel, Access an advantage)
• Proactive and willing to accept responsibility
• Control focused
About J.P. Morgan's Corporate Investment Bank
J.P. Morgan's Corporate Investment Bank is a global leader across banking, markets and investor services. The world's most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at http://www.jpmorgan.com/ .
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