Equity Derivatives P&L Controller

  • Competitive
  • Manhattan, NY, USA
  • Contract, Full time
  • Hamlyn Williams
  • 16 Jan 18 2018-01-16

The Equity Derivatives business has a substantial trading presence. This position is for a P&L controller supporting and controlling these businesses in New York. The selected candidate will be part of the Global Markets P/L team which produces daily P/Ls and Explains for dedicated trading desks. The individual will be required to establish effective working relationships with both Front Office and other areas of support. (e.g. Market Risk, Finance & IT) -understanding the lifecycles of the products traded and the systems and reporting mechanisms required to enable full control & accurate.

Departmental Objectives

  • The preparation and supervisions of daily and monthly management revenues for the Equity activity and their reconciliation with the estimates of the traders and with the financial accounts
  • Analysis and reporting of daily P&L with detailed Greek breakdown for multiple products including futures, options, equities, variance & correlation swaps, interest rate derivatives and Structured Products
  • Reconciliation of PnL to Front office estimates with detailed Greeks and New deal breakdown
  •   Resolution of PV breaks between client/ counterparty settlement amounts and P&L control estimates
  • Substantiation and resolution of Back office ledger vs. P&L systems cash breaks on a daily basis
  • Ensuring the pricing configuration complies with trading strategy and internal controls, collaboration with V&RC and Risk required to enforce consistency
  • Analysis, understanding and commentary on PnL using analytical tools
  • Working with front office and trade support part of the middle office to resolve operational and booking issues
  • Working with front office and market risk to finalize month end PnL validating Map and Reserves at the trading book level
  •   Collaboration with Risk to evaluate and explain cash and PV movements above established thresholds to facilitate risk reporting
  • Ensuring the MTD management P&Ls are consistent with the final end of month general ledger P&L
  • Monitoring the FX exposure of the group to analyze and report deviations from the mean
  • Lead new systems deployment which is not limited to being part of TAC/NAC, gathering requirements, testing UAT database, ensuring results match expectations and reporting impacts
  • Discussing and reviewing trading P&Ls with management

Qualifications:

  • Working knowledge of Equity Derivative products: Structured Products, Equity Swaps, Variance Swaps, Dispersion Swap…
  • Knowledge of financial markets with emphasis on Greek explanations
  • Degree in Engineering, Mathematics or Finance preferred. 
  • 2+ years of P&L experience preferred. Minimum 2 years of P&L, Product Control, Valuation or Risk experience required..
  • Strong Excel/PC skills with proven ability to work with multiple systems
  • Drive for continuous improvement of current processes is essential
  • Strong interpersonal and communication skills is a must
  • Ability to work in a fast paced environment and exposure to Front office / Trading Desks is essential
  • Ability to consistently meet or beat deadlines
  • Attention to detail and accuracy is imperative
  • Experience in the following is a plus:
    • Working knowledge of pricing, valuation, or hedging of derivatives
    • Working with pricing tools and updating pricing configurations
    • Project management experience deploying new systems and working with migrations
    • Automation of current processes utilizing VBA
    • Working with IT to deploy technology solution to reduce errors and save time
    • Knowledge of programming languages such as C, C++, Java, Matlab, Python, VBA….