Product Control – Commodities – Analyst 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
Our Finance Division is comprised of the following groups: Financial Control, Product Control, Financial Decision Support, and Tax. All areas allow you to build a thorough understanding of our business and enable you to add value in the reporting and analysis of financial information. Finance is an exciting area as the division supports a variety of products in a constantly changing marketplace.
Financial Control oversees the financial records and reporting of our business activity. Providing accurate information, they enable us to react to opportunities and focus on critical business issues. Financial Control also provides information to senior management, as well as external fiscal parties.
Product Control provides explanations of business revenues, attributing any movements to market positions, inherent risk and new deals. The team is also responsible for ensuring the integrity of the balance sheet for revenue products. Product Control is pivotal to our reporting and control infrastructure and the information provided by the group gives us the means to assess business performance. In addition, the group coordinates all global finance controls and procedures. Financial Decision Support bolsters Barclays Capital's growth by enabling and supporting all financial decisions within the firm, through timely provision of quality data and partnership with key strategic decision makers.
Product Control has a significant presence and role within the organization. There is a close working relationship with the trading desks and other areas focusing on control, service and reporting. We are a central point of contact for many issues that affect the bank including new product approval, model validation and independent verification of derivative valuations. By placing a heavy emphasis on information technology and focusing on project work we are able to address control and operational risks and meet our internal and external obligations. Financial Decision Support is primarily responsible for enabling and supporting all financial decisions within the firm, through timely provision of quality data and partnership with key strategic decision makers. This covers revenues, costs, balance sheet/capital and client franchise performance. The function is also responsible for processing the firm''s invoices and expenses, leading the annual budgeting process and interfacing with Group on financial performance.
Tax is responsible for managing tax risk in Barclays Capital and provides tax support to all our business areas.
Main Function
As a key member of the US Commodities Product Control Group (PC) team, this role will be responsible for:
Ø reporting the profit and loss of the US Power Gas Trading desks
Ø ensuring the balance sheets for those businesses are correct through price testing, provisioning and control work
Ø providing management information to the Front Office and Product Control Management
Ø assisting the Front Office in business-related matters and providing a point of contact for all US Power Gas related questions from all other infrastructure areas.
Product Control works closely with the trading desk and other functional groups on a daily basis regarding PL, Risk, trade bookings and ad hoc queries. Product Control is also responsible for reporting the PL both centrally to senior management and the Front Office and offers advice on the control and accounting aspects of proposed new business.
Main Duties
As a key member of the US Commodities Product Control Group (PC) team, this role will be responsible for covering all Product Control tasks for the Power Gas business in the US. These tasks include the following:
Ø Produce Daily Profit and Loss reports for US Power Gas trading activities Ø Perform user acceptance testing and project work Ø Provide management information to the Front Office and Product Control Management Ø Assist the Front Office in business-related matters Ø Ensure the balance sheets for those businesses are correct through price testing, provisioning and control work Ø Respond to ad-hoc queries from the trading desk Ø Liaise with multiple departments on project work and/or ad hoc queries Ø Implement and maintain controls and processes Approach problem solving and troubleshooting pro-actively