Manager – Money Markets Product Control recruitment
Overview of GCT
The Group Corporate Treasury (GCT) team is part of a wider Treasury Business Control team and is responsible for the production of the daily profit and loss reporting requirements. This section supports their colleagues on the GCT Front Office desks providing daily profit and loss reporting, reconciliation of ledgers, investigation and correction of errors (liaising with various teams across the Bank) and weekly and monthly Balance sheet reporting.
The team was set up in October 2010, to cover all deals booked on the strategic platform (all heritage HBOS GCT deals and all new deals). Due to manual and bulk migrations during 2011, the volume of deals booked has quadrupled, and the team is now set to expand.
The team currently comprises two qualified accountants who prepare the daily p+l and we are actively recruiting for a dedicated daily p+l team manager and two additional experienced product controllers to enable the team to dedicate more time to variance analysis, providing commentary, break resolution and improving communication with the GCT Front Office and Finance teams.
Manager (product controller) role
A role has arisen in the GCT team for a strong product controller with around 2-4 years PQE to manage, provide and agree the complete suite of reporting for this particular desk. The candidate will have a strong product control background in all money market products.
We are looking for a determined, resilient and flexible candidate who will fit well, with strong analytical skills who can bring their skills and experience to the role as a product controller, owning the Front Office relationship and issues for their desk, preparing the daily p+l and supplementary reporting, performing variance analysis, producing commentary and communicating this to the GCT Front Office clearly. They will need to have a keen eye for detail, accuracy and be deadline orientated.
The role will involve a great deal of face-to-face interaction with the GCT Front Office, GCT and WBM Finance team, building these relationships, educating them with regards to the downstream systems and finding the best booking methodologies for new structures and manual migrations.
The following key skills are prerequisites to undertaking the role:
* Money Market products knowledge (understanding the products and their booking and accounting) of bonds, loans and deposits, interest rate and currency swaps, call and current accounts, nostros and any other money market related derivatives trading.
* An excellent understanding of the balance sheet (Debits and Credits) and the relationship with the Profit and loss accounts.
* Strong Access, preferably to VBA, strong Excel, to at least Macro level - to support and underpin the above in terms of reconciliation, investigation and explanation of movements in PL and Balance sheet and to assist in developing in-house EUC.
* Using information effectively, by being able to quickly understand and interrogate a wide range of applications / general ledgers
* The ability to take large volumes of data, from a raw state and rationalise this in an efficient and effective manner, to underpin analysis and decision making.
* Evaluation / Analytical skills, to quickly identify issues and ensure the correct remedial action or escalation, closing all issues quickly and effectively ensuring that all supporting documentation is completed to underpin conclusions.
* Excellent communication skills, both written and verbal, the ability to readily understand the issues, get their point across, and communicate clearly and effectively.
* A Self motivated individual / results driven who will pursue a task to its conclusion without the need for constant supervision.
* An understanding of the concept of Net interest Income (Nii), Net Present Value, Mark to Market and risk reporting (Var) would be an advantage.
* The ability to analyse complex debt structures and readily evaluate for the desk.
An in depth understanding of the following applications:-
Microsoft office suite with particular emphasis on Access and Excel as already stated.
A good working knowledge of Summit 3.83, Oracle GL and Business Objects
would be an advantage.
Key Accountabilities:
As above and in addition:-
*Key contact point for their Front office desk (there are 4 core GCT desks)
* To grow the business, by assisting in and developing the department's key functions of reporting, to improve - efficiency, accuracy, comprehension and review.
* Support, develop and integrate new products into the GCT reporting and MI suite ensuring any issues are escalated to senior management.
* Underpin all Audit and Sox requirements ensuring compliance with all current directives to fulfil the sections obligations.
The successful applicant will benefit from working in a close knit team, who are dedicated to providing support to deliver goals. Training is available on products / applications as necessary and is keenly supported to underpin their skill set and develop high performing individuals.