Interest Rate Derivatives Product Controller recruitment

Company Overview

Barclays moves, lends, invests and protects money for customers and clients worldwide. With over 300 years of history and expertise in banking, we operate in over 50 countries and employ over 140,000 people.

We provide large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs. Our clients also benefit from access to the breadth of expertise across Barclays. We're one of the largest financial services providers in the world, and are also engaged in retail banking, credit cards, corporate banking, and wealth and investment management.

For further information about Barclays, please visit our website www.barclays.com.

It is the policy of Barclays to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.

Department Overview

Department Overview:

The Non-Linear Fixed Income Product Control Group, within the Finance Department, is responsible for the PL reporting, risk reporting, and all product-related control functions for Fixed Income products and Interest Rate Derivatives (OTC rates derivatives and exchange traded products). The core responsibilities of the team are to ensure the integrity of the trade population for the close of business, the reporting of daily PL and verification of risk and PL through the PL attribution process, ensuring integrity of balance sheet and PL in Sub and General Ledger daily and at month-end

Main Function

The Non-Linear Fixed Income Product Control Group performs the following functions:

PL and Risk processes (50%):

· Control and understand portfolios of Interest Rate Option products and associated hedges in a fast-paced, complex, and high volume business; Core product exposure includes Swaps, Swaptions (Euro/Berm/Amer), Caps/Floors, Bond Options, Mortgage Options, TRS, Index Derivatives and Structured Notes

· Participate in testing and implementation of new models/ systems as part of firm's continued focus on being the leader in fixed income markets

· Ensure tight valuation controls of related options pricing models used by trading by lasing with model validation, Quant's , Market Risk and Valuation Control teams

· Improve the monitoring and control of traders in booking deals in the PL/risk reporting systems

· Continuous review and improvement of End-to-End processes across the Non-Linear Fixed Income area to ensure appropriate controls are in place and are being performed in a timely manner

· To facilitate the delivery of accurate and timely daily PL

· To fully attribute the PL on a daily basis and provide daily commentary on the risk positions and market drivers that explain the PL

Accounting and other aspects of the function (50%):

· Ensure accuracy of downstream processes, including accounting and control responsibilities ( Balance Sheet Reconciliations, resolving position and price breaks, posting journals in various sub ledger's)

· Timely and accurate close out of daily and month end balance sheet, PL, related adjustments and reporting. Strong and succinct commentary for movement in balance sheet accounts and PL across legal entities.

· To take a lead role in the new product initiatives, system and process changes for the Non-Linear area such as OIS/Choice Collateral, new pricing models, model parameter controls, in-house system upgrades, funding related projects, subledger migrations etc.

· Assist manager's in Audit and supervise junior analyst and intern for the team

Person Requirements

Basic Qualifications:

Preferred Qualifications: