Controllers -Salt Lake City- Vice President, Product Controllers – 9879556
About The Position
Responsible for the review process of new trades for appropriate valuation, accounting treatment and disclosure for financial and regulatory reporting, managing the trading desk balance sheet reporting and validation process, and representing the team in new product-activity proposals, ensuring compliance with applicable policies and regulations. Oversee daily, weekly, monthly, and quarterly profit and loss analyses for the trading business and reconciliations between front and back-end systems. Perform weekly review of breaks and adjustments related to P&L reports run by team members, including breaks against the general ledger, cash breaks against SECDB and spotting any adjustments or PNL reporting that is unsubstantiated. Develop and produce ongoing price verification procedures to ensure appropriate valuation of firm inventory and review trading risk and market moves to provide P&L attribution commentaries, as well as developing procedures and streamline workflows for the team. Produce financial statements and/or relevant disclosures for the trading business. Work with the financial and regulatory reporting team in preparation of key external reports, including earnings release and 10Q / 10K disclosures. Mentor junior team members, providing guidance on technical matters, and facilitating training sessions on relevant topics such as financial instruments, valuation methodologies, and regulatory requirements. Employ technical knowledge and skills in the team’s processes for efficient and robust controls and efficiencies. Build and maintain effective relationships with internal stakeholders such as trading desks, risk management, finance, and external stakeholders including auditors and regulators, fostering collaboration and transparency.
Requirements
- Bachelor’s degree (U.S. or foreign equivalent) in Finance, Accounting, Economics or related field.
- Five (5) years of experience in the job offered or in a related role.
- Five (5) years of experience working with debt derivative products including developing or enhancing tools and flows to assist in reconciliation, valuation, profit and loss analysis and financial & regulatory reporting.
- Five (5) years of experience with corporate and securitized derivatives profit and loss reconciliations & reports.
- Five (5) years of experience identifying unique and new trading activities, understanding their inputs risks/model used for pricing and ensuring proper reserves and disclosure requirements.
- Five (5) years of experience in FICC derivative risk inventory management, including identification of abnormal risks by strategy, option greeks, balance sheet usage & fluctuations and composing profit and loss commentary used for VaR (Value at risk) breaches and regulatory requests.
- Five (5) years of experience working directly with trading on profit and loss analyses, new activity review, pricing, and valuations.
- Five (5) years of experience on financial disclosure requirements, including experience with FAS 157, FAS 159, and FAS 161.
- Five (5) years of experience communicating technical concepts related to derivatives flows, reconciliation gaps and processes, profit and loss reporting, price verification impacts, and disclosure impacts across various teams, including Trading Desk, Operations, Technology and internal/external Auditors.
- Five (5) years of experience meeting tight deadlines, including multiple daily profit and loss reports, weekly reserve rebalance, monthly price verification, quarterly disclosures and other frequent time-sensitive ad-hoc requests from various internal/external parties.
Responsibilities
- Review new trades for appropriate valuation, accounting treatment, and disclosure for financial and regulatory reporting.
- Manage the trading desk balance sheet reporting and validation process.
- Represent the team in new product-activity proposals, ensuring compliance with policies and regulations.
- Oversee daily, weekly, monthly, and quarterly profit and loss analyses for the trading business.
- Oversee reconciliations between front and back-end systems.
- Perform weekly review of breaks and adjustments related to P&L reports.
- Develop and produce ongoing price verification procedures for firm inventory valuation.
- Review trading risk and market moves to provide P&L attribution commentaries.
- Develop procedures and streamline workflows for the team.
- Produce financial statements and/or relevant disclosures for the trading business.
- Work with the financial and regulatory reporting team in preparation of key external reports.
- Mentor junior team members, providing guidance and facilitating training sessions.
- Employ technical knowledge and skills for efficient and robust controls and efficiencies.
- Build and maintain effective relationships with internal and external stakeholders.
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What This Job Offers
Job Type
Full-time
Career Level
Manager
