- London, England, United Kingdom
- Permanent, Full time
- Credit Suisse -
- 19 Jul 18
Exotic Equity Derivatives Business Control # 112314
Credit Suisse's Equity Derivatives business is a leading Global Franchises. The business offers a wide suite of financial solutions including amongst others Vanilla & Structured Derivatives, Structured Notes, Multi-Asset Products, Equity Backed Financing and Fund Linked Products.
The Equity Derivatives Business Finance Officer (BFO) function is the primary face-off to Front Office trading/management teams, Risk Management, Accounting Policy Group and Financial Accounting. The group has extensive Product Control experience and deep product knowledge that allows them to make decisions requiring a high level of judgement. They have end-to-end knowledge of the business strategy and markets. The team provides a qualitative, analytical, value service to the business and are accountable for the financial results.
Product Control are the Financial Guardians of the Bank's trading activities. We fulfill this role through:
- Ensuring complete, accurate and timely P&L, Balance Sheets and analysis;
- Working with the businesses and the new business product groups to evaluate & integrate new products and businesses into our financial environment in a controlled manner;
- The provision of reliable and meaningful financial information to the business managers, external partners and other relevant internal constituents;
- Executing controls to detect unauthorized trading or unusual activity and bring up on time to senior management.
The role is an AVP level role and you will be expected to take ownership of the execution of all responsibilities that fall upon Business Control. These include:
- Validate Daily P&L through risk based explains and new trade analysis. This includes analytical reviews of P&L with a key understanding of market moves, new trading activities, provision validation, model parameter changes and flash vs actual drivers.
- You will be providing managerial mentorship and supervisory oversight of the team. This includes effective organization, accurate execution of processes, and resolution of issues, applying subject matter expertise/judgement and ensuring any concerns are presented to management.
- New trade/product approval after understanding of payoff structure, trade booking model, valuations and accounting implication. Liaise with Front Office and Valuation Control team to discuss and resolve issues.
- Detailed analysis of new trades P&L including payoff structure, over-hedge, and valuation methodology; challenging any breach of Product Information Pack (PIP) and Pre-trade Approval.
- Active participation and benefited contribution to PC and Business projects; Be able to discuss and resolve issues efficiently in partnership with other teams.
- Understanding of Fair Value levelling; Production and analysis of Fair Value disclosures.
- Obtaining and understanding of the underlying businesses and develop, maintain and govern an effective control framework, challenge anything not compliant.
- Validation and control around the Balance Sheet to ensure accurate and timely accounting disclosures on the bank's trading activities.
- Maintaining key relationships and representing the PC agenda in meeting with functions such as Front Office, COO, Market Risk, Credit Risk, Technical Accounting, Financial Modelling, etc.
- You will be leading a close relationship with on-shore teams to ensure that daily, weekly and monthly hand-offs are efficient and that there is no gap in PC's overall control model.
Open to discussing flexible/agile working.
- Experience in Exotic derivatives Product Control within Banking. Any asset class is fine, preferably Exotic Equity Derivatives.
- Deep understanding of Exotic derivatives and Structured Notes including front to back business, products and valuations.
- High regard for attention to detail and accuracy to ensure close control of P&L and Balance Sheet.
- Strong written and verbal interpersonal skills.
- High self-motivation and the ability to work both independently and as an effective team member.
- Ability to partner and work effectively both with lead team members and with colleagues across the wider organization.
- Excellent academics: Bachelor of Science, Accounting or Business degree with an overall mark at least 2.1 from a well-respected university, preferably a numerate Master degree.