Corporate Banking Product Controller

Corporate Banking Product Controller

Our client is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, our client operates in over 50 countries and employs 140,000 people.
Our client moves, lends invests and protects money for customers and clients worldwide.

Product Control is a global function with c1000 staff based in London, New York, South Africa, India and across the Asia Pacific region. Product Control is primarily responsible for understanding, substantiating and controlling the daily trading balance sheet and income statement for our client's Investment Bank. This includes;
• The production of a comprehensive daily trading PL and balance sheet
• The execution of regular independent price verification, ensuring that the appropriate accounting principles are applied
• Partnering with the firm’s business areas and other support groups in facilitating new products and initiatives
• Developing and reporting management accounting information
If successfully appointed you will be joining a team who will be enhancing process, reporting and controls whilst ensuring the flawless execution of BAU. The team will also balance the delivery of critical projects whilst identifying those that are strategic and those that are tactical.

The Corporate Bank finance team covers the financial reporting function of the UK International debt portfolio. The team manages debt positions booked on the system ACBS (Advanced Commercial Banking System) worth £31bn. These deals cover the banks lending to the larger client base with lending values greater than £10m.

The team works closely with Debt Finance, Credit Impairment Risk and Business Performance Analytics (BPA) teams in supporting financial reporting and analysis, new product developments, review and system maintenance.

The overall purpose of the role are:

• Fee and interest recognition review and analysis – validation and review of monthly interest and fee PL. Performing investigations of any material movements and providing commentary of material movements to stakeholders. Liase with Operations for trade queries and substantiations.
• Month end close, controls and review – ensure month end positions are reflected accurately, EIR adjustments, recognition of intercompany hedge positions, journal preparation, review and sign offs are key parts of the month end process. Preparation and review of the month end commentary and analysis packs to stakeholders. Documenting, performance and review of fee and EIR controls are performed on an ongoing basis in line with control and governance policies.
• IFRS disclosures and review – ongoing assessment and performance of disclosures required under IFRS 13, IFRS 10 and IFRS 12. Ongoing commentary and analysis is provided to group reporting teams where required.

The successful candidate will have:

• Good knowledge of IFRS accounting standards
• Ability to work under pressure and multi task
• Strong communication skills given the various stakeholders/infrastructure the team works with in a global environment
• Team player and commitment to meeting deadline
• Experience within financial services is not essential but preferred
• Accounting qualification preferred

£400/day, Canary Wharf based.

June 9, 2015 • Tags:  • Posted in: Financial

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