FX Product controller recruitment

JOB DESCRIPTION

FUNCTION:  FINANCE

ZONE: EUROPE 

OFFICE:  LONDON, UK

JOB TITLE:  FX PRODUCT ACCOUNTANT

MAIN RESPONSIBILITIES:

FX Product Control Responsibilities:

1. Analysis, review and control of the FX Exposure

• Supervision of the daily FX exposure calculations.
• Develop an independent daily PL verification process which incorporates price testing in conjunction with the risk department.
• Head up the daily/monthly general ledger reconciliation exercise for balance sheet and off balance sheet reconciliation for FX activity.
• Monitoring of all FX exposure impacting the general ledger, including non-business line exposure, on a daily basis, incorporating specific analysis and review for monthly, quarterly and year end reporting and exposure management.  Ensuring appropriate controls and procedures are in place, and are monitored to provide assurance over reported FX exposures.
• Develop and provide reporting to senior management which outlines the drivers of exposure and provides analysis and instruction on hedging exposure.
• Develop and provide reporting which explains the movement in FX revaluation resulting from exposure.
• Document all procedures relating to FX management and provide training and information across finance and other impacted areas where necessary to ensure FX exposure is understood by all those generating and impacting FX exposure within the firm.

2. Automation of the FX exposure management

• Develop an automated process for monitoring daily and month-end exposure resulting from business and non-business lines activities, for reporting to desk, internally within finance and for senior management review.
• Reviewing the calculation of FX PL arising from FX and other business lines and confirming this information with the front office.

3. Static Data maintenance

• Work closely with individuals who have the responsibility for managing static data which impacts the recording and reporting of FX exposure and ensure the impacts of any static data issues are clearly documented as part of the overall FX risk strategy for the firm.

4. FX Policy and Procedure

• Develop and document the firms approach to FX risk management and ensure this is clearly and formally communicated to all impacted stakeholders.  Ensure this policy is continually updated where necessary.
• Develop and maintain policy and procedure documentation relating to the FX operations and FX management within the firm.

5. Project work

• Actively participate in all new system, and product implementations to ensure all FX implications are appropriately addressed and incorporated into the FX process and procedure documentation.  Provide sign-off on new product, business and system infrastructure initiatives impacting FX.

ESSENTIAL SKILLS EXPERIENCE

The successful candidate would have a relevant accounting qualification. Prior experience with FX and exposure to Treasury products would also be an advantage.  Experience in a financial services industry is preferable.  The role would be hands on and diverse in terms of the range and types of products and business dealt with, individuals will need to be capable of operating with senior management and junior staff.  There would also be a very high level of contact with both the front and back offices as well as within Finance. The candidate should have a good working knowledge of various trading platforms and systems both within the front and back office.

SUPERVISION DUTIES:

The role may involve the supervision of up to two junior product control staff; however this is still being determined.  Where necessary this role will be hands -on in order to meet daily and monthly deliverables.

PROFILE OF THE CANDIDATE:

A successful candidate would have an interest in accounting and the financial markets. Due to the high levels of communication with both front and back office, as well as within Finance, strong communication skills are essential.

Systems knowledge should include a solid use and understanding of Microsoft products, including Excel and Access, as well as experience in financial reporting and accounting software such as Oracle.

POSITION WITHIN HIERARCHY:

Reporting directly to the UK head of Product Control, and working within product control which is a team of 15.

This role will involve liaison with other members of the team, other members of the Finance department, Operations and the Front Office.

Total finance function has a staff compliment of approx. 40.