Exotics Product Controller – VP - based in London
Exotics Product Control
The Product Control group performs the Daily P&L, balance sheet, risk and VaR control activities, including Greek Analysis and disclosure in the firm’s General Ledger system. The group is required to understand the fundamentals of the underlying instruments and business strategy and to continually improve and amend our processes and control infrastructure to stay aligned and relevant to the business and regulatory environment.
The Team and the candidate
We are seeking to hire an experienced Product Controller, managing a team of 8 people. As the manager of the team you will be reporting into the VP head of EMEA Equity Volatility Product Control. You will be responsible for the management and development of the team, facing off to senior desk heads, business managers and the corresponding heads of other functions (Audit / FC / VCG / Market Risk / Operations).
We are looking for technically orientated candidates who are driven by their desire to challenge themselves and gain a deep understanding of the business. The individual will be required to have excellent communication skills. They will be required to work on multiple deliverables to strict deadlines. This will require the individual to be able to effectively liaise with management, team members, and various stakeholders at all levels.
The key responsibilities of the individual / team are:
Running and analysing the mark to market of the portfolio, daily P&L reporting, P&L substantiation, and residual analysis.
To perform critical risk control activities with subsequent reporting for Front office, specifically the risk used in VaR calculations.
Working with Financial Control to ensure that front to back systems are in line, and to close out month end with accurate reporting of MIS and accounting in the books and records.
You will have oversight of month end reconciliations, with emphasis on the control agenda, ensuring integrity and substantiation of exceptions between Balance sheet / GL and Front Office systems.
Production of daily/weekly/monthly MIS, commentary and controls, and reporting to senior Finance and business members.
Working with Front Office on new deals and analysing the impacts to the Control function, as well as evaluating the accounting impacts of complex deals
Working with the centralised Balance Sheet function to report on and substantiate Balance Sheet usage, RWA and Funding.
Responsible for adding continuous improvements to the process and infrastructure, as the changing regulatory and financial landscape means you will be involved in analysing impact for the business and driving through change.
Support any new initiatives, for example new reporting systems or new products
The individual would need to have excellent technical and problem solving skills in order to identify, understand and address varied issues as part of the day to day process.
- Preferably a qualified accountant ACA/CIMA/ACCA, with proven track record in Product control
- Technical understanding of equity derivatives, covering vanilla and exotic products, and excellent understanding of risk and Greeks.
- Excellent Analytical skills, with strong oral and written communication /presentation skills, demonstrating an ability to develop strong working relationships.
- Self-motivated, initiative taker, who is good at problem solving and devising solutions.
- You must thrive on task completion, exception resolution and enjoy being constantly challenged.
- Ability to quickly grasp concepts, learn processes and execute on deliverables in a timely manner
- Highly organized, and very control orientated with sound time management skills, being flexible to handle multiple tasks at the same time and prioritize the tasks in the order of importance
- Keen to question everything and understand the detail behind the numbers and/or process
- Strong accounting knowledge of financial instruments, to ensure compliance with appropriate corporate and regulatory requirements
- Understand and contribute to control frameworks; Control self assessment (CSA), SOX, New Business Initiative Approvals, etc.
- Professional attitude, strong team player with a personable / approachable manner
- Ability to work independently with the focus on efficiency and quality
- Proven people manager and change agent
About J.P. Morgan’s Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com.
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.