Description
Financial Controller - Commodities - Investment Banking
6 months - St Pauls
Overview of Role
* The primary function of the Commodities Finance team is to provide control & business advisory guidance. Key business partners are the Trading Desk, Price Verification (PVG), Credit & Market risk, Regulatory Reporting, Accounting Policy and the Capital management team.
* The key tasks of the finance team are P&L Explain and Substantiation, Balance Sheet Substantiation, Price Verification, Valuation adjustments and Prudent Valuation calculations. Finance also provide oversight and are key business partners on new transaction reviews, RWA, SOX, regulatory requests and implementing and maintaining good internal control procedures and documentation. Line of business finance also prepare and contribute towards analysis, commentary and documentation for senior management, auditors and regulators.
* The role will support the commodities trading business covering structured transactions as well as aiding the coal, freight, LNG, metals and global index desks. Including oversight of P&L explain and balance sheet substantiation and in particular financial control processes, regulatory disclosures, documentation, substantiation and commentary.
* The commodities finance team is comprised of dedicated professionals based in London and Houston.
* The commodities business offers a variety of financial and physical products to a range of clients from corporates, and hedge funds to producers and consumers. The products range from vanilla derivatives to structured financing solutions. The index business offers non-traditional commodity clients a way to access and participate in commodity performance through the marketing of bespoke commodity indices.
Responsibilities will include:
* 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.
* Price verification (daily, weekly, monthly) in line with current policies, working with PVG to improve processes and ensure correct application of methodologies.
* Weekly, Monthly & Quarterly revenue commentary.
* Balance sheet analysis (capital, liquidity, exposures etc.) including inventory aging, and reporting (Managerial and Regulatory)
Essential Skills
* Strong derivative analytical skills and understanding of derivative pricing, ability to interact with desk and valuation group on pricing and risk
* Strong Excel skills with the ability to build and use spreadsheets
* Demonstrable risk identification and management
* Client focused approach
Nice to have
* Investment banking experience (desirable)
* Qualified CFA or Accountant (ACA, ACCA, CIMA or equivalent) with good working knowledge of accounting concepts
Hy-phen Limited is acting as an Employment Business in relation to this vacancy.
The Adecco Group UK & Ireland is an Equal Opportunities Employer.