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Consumer and Community Banking Finance - Product Controller - Associate

Req #: 170110965
Location: Jersey City, NJ, US
Job Category: Accounting/Finance/Audit/Risk
Potential Referral Amount: 3000 US Dollar (USD)

The Mortgage Banking Capital Markets group engages in the pricing and sale of mortgage loans while managing a sizable portion of the firm’s risk and delivering required returns on capital. Key functions include:

  • Provides customers the best pricing and service while managing risk to the firm and delivering solid returns on capital investments

The Product Control function within Capital Markets will be primarily responsible for profitability reporting and analysis for Secondary Marketing and Mortgage Servicing Rights (MSRs).  The Product Control lead will be tasked with bringing together the existing p/l processes across the space and creating efficiencies and consistency of approach, where applicable.  Products within scope of business activity include whole loans, mortgage-backed securities, mortgage servicing rights, TBAs, and various other hedging instruments. 

The responsibilities of the role will include, but will not be limited to:

  • Managing the production of the daily and month-end p/l reporting processes
  • Daily p/l substantiation and attribution or revenue drivers
  • Enhance existing control framework, including reconciliation points and source data
  • Primary face to the business on all revenue inquiries
  • Close working relationship with Columbus-based Controller team in relation to general ledger postings,  month-end close process, and external reporting agenda
  • Partnering with Finance P&A team in relation to forecast submissions and revenue commentaries as requested throughout the month
  • Manage daily VAR submissions and partner with Market Risk coverage and reporting on daily risk reporting
  • Partner with MB Treasury for balance sheet forecasting and capital inputs
  • Liaise with Market Risk and Technology in regards to various infrastructure initiatives, particularly in relation to increased straight-through processing initiatives
  • Work closely with Corporate Accounting Policy on accounting policy interpretation and documentation of significant transactions
  • Partner with the MB Valuation Control Group on further build-out of independent price verification initiatives
  • Work closely with other MB Finance functions, in particular Production and Servicing teams
  •  Strong understanding of financial reporting and accounting principles
  • Solid qualitative and quantitative skills, including knowledge of the greeks
  •  Minimum of a bachelor’s degree with a concentration in either Finance or Accounting
  • Ability to communicate effectively, both verbally and in writing
  • Ability to work in a dynamic environment and to meet challenging deadlines
  • Team player and self starter
  • Ability to streamline existing process and create new reporting processes
  • Control mindset

 

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