Ref 13513
Country USA
City New York
Business Area Global Finance
Contract Type Permanent
Estimated publish end date
Department Overview
Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a comprehensive set of solutions for their strategic advisory, financing and risk management needs. Barclays Capital has offices around the world, employs 20,000 people and has the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide.
For further information about Barclays Capital, please visit our website www.barclayscapital.com.
The Finance department covers Product and Financial control. Both Product and Financial Control are jointly responsible for the integrity of the financial records of Barclays Capital.
Main Function
The job function will entail preparing daily PnL and risk reports for distribution to the Front Office, Risk Management and Product control management. The Product Controller will also be responsible for analyzing changes in market risk, identifying areas of potential risk and highlighting these risks to Management. The Product Controller will on a daily basis prepare the P&L for the area he or she is responsible for, reconcile it to the traders estimate and issue a P&L summary at the close of each business day which is then sent to Management and also to Financial reporting. As part of the daily P&L preparation process Product Controller will also be responsible for analyzing the significant movement in daily P&L and should be able to explain the significant P&L move through Greek explains. In addition, the Product Controller will prepare a reconciliation of the trader’s position and resolve any outstanding issues by the close of business. The daily functions will involve interacting with other Middle office support, IT, Back office staff, and Front Office.
Main Duties
The core responsibilities of the Product Controller are:
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PnL production and analysis compare to daily trader flash
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Liaise solely with the front office traders for all issues surrounding the P&L and risk.
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Work with operations in resolving any breaks between the valuation systems and back office settlement systems.
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Daily P&L analysis via an in depth review of the P&L attribution
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Daily P&L commentary explaining the key drivers in the market
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Develop the SOX control environment applicable to the daily function ensuring all key controls are in place and being adhered to.
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Assist in Project work
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Identifying areas that could cause potential risk the bank and developing solutions to enhance current daily procedures
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Prepare and present to senior Product Control management on a weekly basis an overview of the market conditions, drivers of the P&L, risk exposures and any other significant items of interest
Person Requirements
Essential
* Bachelors Degree in Finance, Accounting, Economics
* 2-3 yrs of derivative experience; Credit Derivatives experience (preferred)
* Strong understanding of basic accounting principles (income statement, balance sheet)
* Strong understanding of derivative pricing (greek explains)
* Strong excel skills
* Strong problem solving skills, ability to think outside the box
* Ability to multitask daily job role with long term projects.
