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CIB F&BM Americas Prime Finance Product Controller - Vice President

Req #: 170102565
Location: New York, NY, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 5000 US Dollar (USD)
General summary
 

The Firm’s Prime Finance business (the “business”) is part of the Corporate and Investment Bank’s Investor Services business.  The business offers flexible financing to clients in either physical form or through synthetic products and with its ability to borrow and lend securities (stock loan) also allows clients to create short exposure.  A further role of the financing business is to provide the wider Equities and Investor Services businesses with both short term and long term secured funding.

 

The Americas Prime Finance Product Control Team (the “team”) is primarily responsible for the independent production, review and approval of the daily P&L ensuring the accuracy and completeness of business revenues.  Other responsibilities include daily risk reporting, supporting the business on the wider financial aspects of their activities such as balance sheet and capital, advising on accounting, regulatory and booking issues, participation in the new product approval process and overall signoff of the business’s financial statements including regulatory returns.  The team is also responsible for ensuring the continued appropriateness of the control environment.

 

The products supported by the business include: margin lending, stock borrow loan, equity swaps, options and futures.

 
Role description
 

Successful candidate will be responsible for managing the Americas controller team with oversight of all team responsibilities, which include:

  • Direct management of a team of 14 controllers
  • Performing next day P&L reconciliation and substantiation for the business, identifying and resolving issues resulting in breaks between the estimate and the actuals reported in Front Office P&L systems.
  • Producing next day risk reporting for the business, identifying and resolving issues with risk view.
  • Ensuring processes and controls are in line with corporate minimum standards, creating a culture of continual challenge and improvement in the control environment & where possible eliminating manual processes.
  • Supporting the month end financial close – including provision of forecast to central teams and providing commentary on business drivers against plan and prior periods.
  • Review and reporting of movements in the business’s balance sheet. Investigation and communication of business drivers underpinning significant financial movements for Senior Management, Corporate Controllers, Regulatory Reporting, Legal Entity Reporting and other finance groups.
  • Regulatory and External reporting for product specific disclosures. Ensuring correct accounting policy treatment is adhered to / adopted.
  • Working as a Finance contact on projects including working on the requirements, testing and implementation. Supporting the business on new business initiatives.
  • Ensuring resource allocation is optimal to balance the need for getting the business as usual processes correct and supporting key initiatives (both functional and business).
  • Working with Balance Sheet, Capital & Liquidity controllers and external reporting to enhance partnership and co-ordination across the full regional financials.
  • Line of business Product Control experience essential
  • Knowledge of different functions within finance and their interactions essential
  • Understanding of accounting concepts in order to interpret accounting policy
  • Proven track record of people management & team development
  • Control mindset and drive to continually improve controls, increase efficiency and challenge the status quo
  • Ability to face off with multiple stakeholders (e.g. Front Office, Financial Control, Legal Entity Control) and manage demands.
  • Ability to multi-task with flexible working style to balance numerous priorities and work through environment of constant change.
  • Ability to articulate vision for the team, identify requirements (talent and technology improvements) and timelines to work towards that vision and follow through to delivery.

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