Description
Financial Controller, Product Control, Commodities, Accountant, London 6 months
My client, a Tier One Investment Bank is looking for a Controller with a Product/Financial Controllers background, they will have commodities (amongst other products) exposure. An accountancy background and a keen interest in the markets will be advantegous to be successful in this role.
The team you will join is the Commodities Finance team. They provide control & business advisory guidance across key business areas inclusive of the Trading Desk, Price Verification (PVG), Credit & Market risk, Regulatory Reporting, Accounting Policy and the Capital management teams.
The key tasks of the finance team are P&L Explain and Substantiation, Balance Sheet Substantiation, Price Verification, Valuation adjustments and Prudent Valuation calculations. The team also prepare and contribute towards analysis, commentary and documentation for senior management, auditors and regulators.
Responsibilities
Financial Control, Daily P&L & Balance Sheet - Reporting & Oversight:
- Review, oversight and substantiation of the balance sheet
- Review and oversight of official daily P&L Explain, and its provision for VaR back testing
- Analysis of daily sub-ledger P&L, including any adjustments, generated by Middle Office for management reporting
- Oversight of Daily P&L reporting to local and regional management
- Review of daily P&L commentary and substantiation based on market events
- Review and substantiation of material new deals
- Reporting on movement of balance sheet & substantiation based on transactional activity
- Review, oversight and reporting of structured transactions, partnering with support groups including accounting policy, capital, credit and risk to ensure the correct treatment as part of the new deal approval process and on an ongoing basis.
Valuation Control
- Price verification (daily, weekly, monthly) in line with current policies, working with PVG to improve processes and ensure correct application of methodologies.
- Maintaining valuation adjustment & reserve calculations such that they are in-line with current policies.
- Partnering with PVG and the valuation control team to implement regulatory requirements around valuation control.
- Reporting and substantiation of price verification, reserve and prudent valuation calculations.
- Provision of financial expertise in the design, build, testing, and implementation of new Technology Platforms and Systems
Core Financial Oversight Functions:
- Weekly, Monthly & Quarterly revenue commentary.
- Balance sheet analysis (capital, liquidity, exposures etc) including inventory aging, and reporting (Managerial and Regulatory)
- Determining and implementing appropriate accounting policies & procedures (with Accounting Policy)
- Managing key accounting, legal entity, regulatory and P&L issues with the business
- Month end close, including regulatory financial disclosures.
- Exercise of control oversight on behalf of the business
- Participation in the New Product Review and Appropriation Request processes: modelling structures, process scenarios, review, and control
- Contributing to regulatory and governance processes, operational error reporting and support of other internal control processes, including SOX
Competencies we look for
- Drives execution: Consistently delivers superior results, persists despite obstacles, setbacks and competing influences. Continuously looks for new and better ways of doing things.
- Demonstrates Accounting Knowledge and Applies Financial Analysis Skills
- Skillfully influences others to acquire resources, overcome barriers, and gain support to ensure the team's success
- Develops strong interpersonal alliances at appropriate levels, both within and outside the organization; builds solid relationships characterized by mutual respect, understanding and trust.
Skills we look for
- Strong finance and accounting skills
- Knowledge of commodity products (desirable)
- Strong Excel skills with the ability to build and use spreadsheets
- Experience of regulatory disclosures
- Demonstrable risk identification and management
- Client focused approach
- Investment banking experience (desirable)
If you wish to apply for the above position, please call me or email
Please be advised if you haven't heard from us within 24 hours then unfortunately your application has not been successful on this occasion, we may however keep your details on file for any suitable future vacancies and contact you accordingly. Adecco is an employment consultancy and operates as an equal opportunities employer.