Product Controller – Balance Sheet Management recruitment
Headquartered in London, HSBC is one of the largest banking and financial services organisations in the world. Balance Sheet Management is a unit within Global Markets that acts as the treasury department of HSBC Bank Plc. It has a dual mandate to manage the structural interest rate risk and execute the liquidity and funding strategy for the bank as established by the Asset Liability Committee (ALCO).
We currently have 2 key roles within the Product Control function with the following key duties:
- To develop detailed understanding of the Balance Sheet Management (BSM) Business in HSBC Bank Plc and to ensure a robust controls for valuation and financial reporting.
- To ensure appropriate design and delivery of the Daily Off-Market Rate Checking and exception reporting process.
- To assist in IFRS 7 Reporting, Disclosure Reporting and Valuation Control related governance work.
- To undertake calculation of the Fair Value of Accrual Accounted Books.
- To undertake assessment of Own Credit Spread adjustments on issued debt, enhance the calculation process and provide all necessary MI and related adjustment information.
- To undertake calculation of Fair Value Adjustments for the BSM Business (Independent Price Verification, Bid-offer etc) and prepare the monthly Valuation Committee Pack for BSM.
- To undertake reporting of Daily and Monthly PL and to perform Analytical Review of the desk’s activities as necessary.
- To identify areas for process improvements and increase the efficiency of existing process by re-engineering them as required.
- Preparation of appropriate Management Information for the tracking of results, workload and exceptions.
- To build relationships with key stakeholders including other Product Control Functions, IT, Operations, Front Office, Group Finance, Market Risk Management and Credit Risk Management.
To be considered for this position, you will ideally hold a finance qualification (CFA, Masters in Finance, ACA or equivalent) and have exceptional numerate skills. You will require experience in Independent Price Verification (IPV) and Fair Value Adjustment (FVA) processes as well as PL Analysis and Valuations of Interest Rate Product Valuation. Experience in Interest Rate Products / Derivatives is necessary (Bonds, Swaps, and Money Market Products etc).