- London, England, United Kingdom
- Permanent, Full time
- Credit Suisse -
- 21 Oct 18
Product Control ENO # 115451
The Prime Services EMEA Business Control function is responsible for understanding and controlling the various Prime Services business lines (covering PB, PBFX, Stock Loan, and Delta One) by substantiating the completeness, accuracy and validity of all business related corporate data. The team deals directly with various departments within the bank on a daily/weekly/monthly basis and requires In depth understanding of the business to challenge decisions and investigate issues.
This role will be specifically looking at both the Stock Loan and Delta One Flow business lines but there may be future scope to cover other areas of the business depending on your performance/ability. The Delta One Flow business is a volume driven, client focused desk where the business provides clients with swaps over various European stocks. The main challenge with this business is ensuring there is clear and prompt communication of issues so any breaks can be cleared quickly and easily.
The Stock Loan business involves the lending and borrowing of stock both internally within the bank and across the street, as well as collateral upgrade trades to handle the Bank's RWA cost. The business itself has a number of manual process so tight controls and detailed reviews are required to ensure the P&L and B/S are materially correct each month. There are limited repetitive daily/monthly tasks so the role allows you to drive your own change and become involved in a number of ad-hoc projects to improve the Flow and Stock Loan business lines. This would involve deep dives into issues to understand the root cause of a problem and then working with various teams across the bank to develop an effective solution.
- Daily: Review daily P&L produced by LC team to ensure it makes sense from a business point of view and provide commentary around material P&L and FTA, review CnC trades to ensure they are valid and take care of adhoc queries from COOs/FOs and other teams across the Bank.
- Weekly: Prepare consolidated weekly P&L commentary and Business Control Pack for team meetings, highlighting key points of interest or problem areas for management, attending various FOBO meetings with FO/Ops/MO/etc to discuss issues facing the business.
- Monthly: Review of monthly movement in the P&L and B/S and provide commentary to FA and other teams to explain these moves; review of intra-month and month-end IPV results and providing important commentary to senior management; attending monthly close out meetings with the desk to review FTA and IPV results.
- Projects & Ad-hoc: Active involvement in change management, specifically the Stock Loan business which has a number of adhoc improvement projects, increasing straight through process control and reducing operational risk. Book rationalization for dormant trades. Carrying out UAT for any centrally run project initiatives that impact Prime Services EMEA business.
- Working closely with FO, COO, Line Control and Financial Accounting teams in various regions to ensure that books and records are complete and accurate.
Open to discussing flexible/agile working.
- Educated to 2:1 degree level, preferably in a quantitative subject.
- Accounting or financing qualifications preferred (ACA/ACCA/CIMA/CFA).
- Over 1 year experience in Product Control role with an understanding of the mechanics of the how the Stock Loan business works.
- Product knowledge across a range of financial instruments especially in Stock Loan, Swaps and Equities.
- Understanding of the relevant concepts of technical accounting (USGAAP/IFRS).
- Able to self-motivate and work autonomously with additional guidance from other team members.
- Excellent written and verbal communication with an ability to explain complex subjects in a simple way and at various levels of the organisation.
- Ability to develop solid networks and working relationships across the organization.
- Proficient Excel skills.