AVP, Product Control – Non-Linear Products

  • 000
  • Abu Dhabi, United Arab Emirates
  • Permanent, Full time
  • First Abu Dhabi Bank
  • 18 Oct 18

The Global Markets Finance team comprises Product Control, Independent Price Verification and FPA and Sales MI teams. The team supports the Global Markets and Group Treasury businesses locally and internationally. The unit falls under the Group Finance department and reports to the CFO, WB & International.

  • Finance business partner and trusted advisor on reporting and day-to-day support of the Global Markets business, providing prompt and effective support to the Front Office and Product Control management.
  • Comprehensive P&L analysis for the Exotic/Non-Linear Product desk including detailed analysis and interpretation of daily results, variances, risk positions, realised and unrealised P&L components, revaluation curve movements with P&L attribution, new deals, cancelled and amended trades and price / rate validation.
  • Key business finance contact for all International Global Markets queries, leading discussions, as appropriate, with Front Office to ensure P&L analysis is agreed. Act as one of the prime points of contact across all processes in order to ensure all customer needs are being met.
  • Provide relevant support to Head of Product Control and FPA, ensuring all business transacted is ‘compliant, safe and sustainable’
  • Compilation of all daily revenue reporting for the business, ensuring the accuracy and integrity of source system interfaces into the General Ledger.
  • Provide independent validation of the financials reported for the GM businesses by maintaining a robust control framework between FO and reported financials. Maintain a strong understanding of the products traded and the trading strategies within the business.
  • Understanding of specific business models, analysis of structured deal packages and application of appropriate accounting standard thereupon. To provide professional & ethical behaviours by ensuring compliance with external legislation, bank standards, internal operating policies and procedures.
  • Identify impacted packages for hedge monitoring and effectiveness testing.
  • Managing the day to day and month end controls of P&L and Balance Sheet reconciliation, substantiation and reporting for GM.
  • Development and ownership of Product Control policies and accountability for adherence therewith. Identification & reporting of any policy breaches. Development and implementation of Global operational financial policies and procedures for the specific functional areas.
  • Support of new business requests, ensuring they are controlled through the existing or new system architecture, providing responsive support to front office, ensuring “speed to market” of new products. Delegated authority for New Activity Working Group (NAWG), for new product sign-off.
  • Manage projects driven by new regulatory requirements in International locations to ensure the key criteria of the regulation is met in a sustainable, efficient and effective manner
  • Line of Business and Desk level commentary with market relevance when internal P&L thresholds are breached.
  • Ensure compliance and control of specific accounting processes and practices for proposed new product initiatives or product variations.
  • Responsible for identifying issues which impact GM, and implementing solutions.
  • Act as a central point of contact for Group Finance functions and Global Markets desks: Financial & Regulatory Reporting, Treasury, FP&A, Tax, Financial Control relating to GM Products, and Valuation Control
  • Maintain Key linkages & strong working relationships with Desk Heads, Head of Business Finance, Senior Management, Group Finance, Middle Office, Operations, Business Finance peers Internationally, FP&A, I.T, Market Risk, Legal, Compliance, Operational Risk, Regulators, Internal & External Audit.
  • Support the Head of Product Control to work with Treasury on FTP, capital & liquidity matters affecting GM Products as required. Provide input to wider Finance strategy activities and strive to work together effectively on overall regional and global programs.
  • In conjunction with FP&A, continuously assess the quality of service provided to the principal customers and strive to ensure that the area adds value to their objectives through the provision of accurate and valuable financial data and advice.
  • Ensure PC adopt a proactive attitude to changing environments, both internal and external, and provide value added solutions for GM Finance business partner and trusted advisor on reporting and day-to-day support of the Global Markets business.
  • Engender and role model a culture of continuous improvement, ensuring that operations are kept continually under review and that all opportunities for re-engineering and achieving economies of scale are identified, implemented.
  • Escalate any issues to the management and assist in mitigating any operational risk.
  • Review existing systems / processes / procedures and MIS to proactively identify areas of improvements.
  • Use of sophisticated arithmetic models for numerical analysis and evaluation. Writing papers on strategy or other complex issue with logical sequencing and supporting recommendations. Synthesising information from a variety of sources and extracting relevant concepts / themes. Preparing and delivering presentations with context across business functions to deliver maximum impact.

Minimum Qualification

  • Qualified Professional (ACA / CFA) or 5-8 years’ experience in a Product Control Function
  • Technical knowledge in Pricing and Accounting Financial products - Fixed Income, Derivatives (specifically Interest rate and FX Options) and structured products
  • Strong financial maths (zero, par, and forward / forward curves).
  • Great team player.
  • Ability to communicate with a variety of divisions within the bank, respond to the dynamic nature of an international Global Markets operation whilst being able to meet daily deliverables.
  • International experience working within an International Investment bank or FI.

Minimum Experience

5-8 years’ relevant experience in a Product Control Function.