Product Accountant
A leading Banking Group is seeking a Product Accountant to join their Securitisation Control team within the Investment Banking division.
Reporting in to the Manager of the team, you will be responsible for timely, accurate, fully substantiated and compliant financial and management reporting of the Asset Backed Securities Investment business area.
The responsibilities of the role are as follows:
Daily and monthly controls performance:
- PL and balance sheet reconciliation and substantiation of the general ledger;
- Cause analysis and timely clearance of breaks;
- Preparation of monthly IFRS accounts including preparation of monthly journals submission of Group disclosures;
- Co-ordination with various departments, including Valuation, Accounting Control, Operations and Front Office to ensure accuracy and completeness of balances passing to the general ledger;
- Liaising with Auditors (internal and external); and
- Daily and monthly analytical review to provide meaningful business-informed commentary on the financials.
Process improvement:
- Assist with establishing and implementing correct accounting for all products.
- Challenging current booking structures, especially around complex structures, to ensure limited manual intervention and correct accounting and cash flows; and
- Reduction of operational risk and cost through automation and process efficiency projects.
Other
- Ongoing review of existing and proposed structures.
- Effective communication with stakeholders and other support teams
- Ad hoc projects
Knowledge Experience / Qualifications
Education Experience
- Strong A levels (or equivalent), preferably including Maths
- University degree (Class 2:1 or equivalent) - Relevant degree
- Accounting qualification (1st time passes) - part qualified students would be considered.
- Proven Product Control/ Business Financial Control experience from major investment bank, must have covered balance sheet substantiation. Background from Fixed Income, Credit and/ or Structured Credit will be considered an advantage.
- IFRS accounting knowledge is preferred (Recognition and De-recognition of financial instruments)
- Market awareness
Skills
- Solid product knowledge - ABS, CP, Repo, IRS, TRS and CDS
- Strong Analytical skills
- Strong Accounting skills - working knowledge of IAS39 and IFRS7
- Demonstrated ability to implement change, particularly in improvement of controls and automation.
- Excellent communication skills
- Good interpersonal skills
- Strong MS Excel - ideally VBA experience
- Ability to work independently and take proactive action.
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