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Accrued P&L Controller
Ref No.: 17-00892
Location: New York City, New York
Position Type:Contract
Job Title: Accrued P&L Controller
Location: New York NY 10019
Duration: 6 months

Business Overview:
Prime Solutions & Financing businesses support trading activities across New York and London with customers from US, Europe, and Asia. This position is for a P&L controller supporting and controlling these businesses in New York. The selected candidate will be part of the Global Markets P/L team which produces daily P/Ls and Explains for dedicated trading desks.

The individual will be required to establish effective working relationships with both Front Office and other areas of support. (e.g. Market Risk, Finance & IT) - allowing for an integrated and proactive approach to the business' requirements, understanding the lifecycles of the products traded and the systems and reporting mechanisms required to enable full control and accurate and appropriate information to be supplied.
Departmental Objectives
  • Contribute to P&L remediation project related to Commodity Futures activity. Perform analysis of current state processes related to Commodity Futures P&L process. Work with management to integrate Commodities Futures P&L into NY team with defined control structure.
  • The preparation and supervisions of daily and monthly management revenues for the Prime Solutions & Financing activity and their reconciliation with the estimates of the traders and with the financial accounts
  • The participation in business development initiatives across client support functions and locations
  • Analysis and reporting of daily P&L with detailed breakdown for multiple products including margin products, repo, equities, and swaps.
  • Reconciliation of PnL to Front office estimates with detailed breakdown of P&L drivers
  • Resolution of breaks between client/ counterparty settlement amounts and P&L control estimates
  • Substantiation and resolution of Back office ledger vs. P&L systems cash breaks on a daily basis
  • Ensuring the pricing configuration complies with trading strategy and internal controls, collaboration with V&RC and Risk required to enforce consistency
  • Analysis, understanding and commentary on PnL using analytical tools
  • Working with front office and trade support part of the middle office to resolve operational and booking issues
  • Working with front office and market risk to finalize month end PnL validating Map and Reserves at the trading book level
  • Collaboration with Risk to evaluate and explain cash and PV movements above established thresholds to facilitate risk reporting
  • Ensuring the MTD management P&Ls are consistent with the final end of month general ledger P&L
  • Monitoring the FX exposure of the group to analyze and report deviations from the mean
  • Lead new systems deployment which is not limited to being part of TAC/NAC, gathering requirements, testing UAT database, ensuring results match expectations and reporting impacts
  • Discussing and reviewing trading P&Ls with management

Trader Support & Customer Service
  • Close liaison with the trading floor to ensure the timely and efficient resolution of trader queries.
  • Liaise with other Operation functions and other infrastructure groups to support a 'one team approach'.
  • Take an 'can-do' approach to enhance relationships
  • Resolve all issues / conflicts in a timely and customer orientated fashion
  • Adhere to deadlines and objectives

  • Clear and concise communication with all teams to ensure the timely and efficient dissemination of information and the resolution of queries arising, including escalation of issues to the team manager.
  • Ability to gather information from a broad range of sources and disseminate appropriately.
  • Where appropriate, ability to maintain and explain own position using logic in the light of differing views.

  • Focus on the needs of the business
  • Respect and value each team member's contribution
  • Act with integrity, accepting responsibility for actions
  • Recognize opportunities for creativity and development of processes
  • Achieve a sensible work/life balance.

Applicable to all
  • Ensure the business area conducts its activity in accordance with all relevant external regulators and internal policies.

  • Working knowledge of Financial markets products: Commodity Futures, Prime Brokerage, Accrual Products, Stock, listed future, listed options, swaps.
  • Project Management and Business Analyst experience including project planning, documentation, functional specifications, business requirements, etc.
  • Knowledge of financial markets with emphasis on Prime Brokerage business
  • Knowledge of US Prime Brokerage regulations including Reg-T, USPM, and Arranged Finance
  • Degree in Finance preferred.
  • 2+ years of P/L, valuation, risk or trade support experience preferred.
  • Strong Excel/PC skills with proven ability to work with multiple systems
  • Drive for continuous improvement of current processes is essential
  • Strong interpersonal and communication skills is a must
  • Ability to work in a fast paced environment and exposure to Front office / Trading Desks is essential
  • Ability to consistently meet or beat deadlines
  • Attention to detail and accuracy is imperative
  • Experience in the following is a plus:
    • Working knowledge of Commodity Futures trading activity
    • Working knowledge of Prime Brokerage products and revenue streams, US Regulatory requirements
    • Working with operational and trading systems to identify issues
    • Experience with cost of funding methodology and financing
    • Project management experience deploying new systems and working with migrations
    • Automation of current processes utilizing VBA
    • Working with IT to deploy technology solution to reduce errors and save time
    • Knowledge of SQL to query database to extract deal level details for break analysis