Rates Product Controller Job Description

Rates Product Controller Job Description

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Rates product controller provides updates on Fixed Income market and product solutions (bonds, rates / credit derivatives and structured products) to marketing teams in regular investment meetings.

Rates Product Controller Duties & Responsibilities

To write an effective rates product controller job description, begin by listing detailed duties, responsibilities and expectations. We have included rates product controller job description templates that you can modify and use.

Sample responsibilities for this position include:

Working with the business to ensure that they fully understand developments in Regulatory framework and priorities, changes to the Capital framework, the impact of Risk Weighted Assets, revenue recognition on structured deals, GSIB impacts, leverage ratios etc
Producing monthly Price Verification Control results over the Secured Financing Products
Performing monthly and quarterly Price Verification Control Reporting Disclosure requirements and analyses for the Finance Desk Business across all products
Partnering with Valuation Control & Analytics (VC&A) Team in the review of inventory valuation testing and results over the Repo, Bonds, Swaps and Futures products the relating policy matter
Supporting New Business initiatives and New Products Approval Committee (NPAC) reviews and validation
Working directly with internal and external audit reviews
Understand P&L drivers for fixed income products the underlying market risks for these instruments
Balance sheet and capital analysis including providing inputs and review for Basel III RWA calculations
Analysis of balance sheet movements and implications on funding for the business
Maintaining core reconciliation processes

Rates Product Controller Qualifications

Qualifications for a job description may include education, certification, and experience.

Education for Rates Product Controller

Typically a job would require a certain level of education.

Employers hiring for the rates product controller job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Accounting, Finance, Business, Mathematics, Mathematics/Economics, Science, Math, Engineering, Economics, MBA

Skills for Rates Product Controller

Desired skills for rates product controller include:

Valuation of Financial products
Fixed income cash & derivatives Financial Products
Financial products
Financial products ? Interest Rate Products would be preferable
Preferably in Fixed Income
Fixed Income products and markets
MS Excel & Access
US GAAP is highly desirable

Desired experience for rates product controller includes:

Relevant degree and post graduate qualifications
Managing/ Review of daily analysis and substantiation of new trading activity to report and/or for discussion with the BUC-s and or Ops/BU
Managing/ Review of daily reconciliation of the Risk systems attributed P&L to the Reporting system
Review of Substantiation & distribution of reportable TD+1 P&L with analytics & commentary
Issue escalations, Control assessments and enhancements, Product Controls system related projects, process enhancements, UAT testing
Advanced Accounting knowledge P&L and Balance Sheet

Rates Product Controller Examples

1

Rates Product Controller Job Description

Job Description Example
Our growing company is looking for a rates product controller. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for rates product controller
  • Assist with regulatory reporting for offshore regulators under US GAAP
  • Understand P&L calculation for interest rate derivatives, bonds and FX forwards
  • Understand risk metrics for the above instruments
  • Daily P/L production, risk reporting and commentary on main revenue drivers
  • Maintaining core reconciliation processes including reviewing reconciliations of reported P&L to the general ledger produced by offshore team
  • Different ad-hoc reports
  • To assist in the preparation of daily p&l and decomp reporting within the Structured Rates Product Control team, provide an effective link between Front Office (FO) & other stakeholders within the wider Finance team
  • Primary producer of book level actual P&L within NPV environment
  • Minimum of 4 years experience within financial industry
  • Degree in Accounting/Mathematics/Economics/Commerce would be preferred
Qualifications for rates product controller
  • Degree in Accounting/Mathematics/Economics/Commerce
  • Accounting knowledge of markets products required
  • The provision of reliable and meaningful financial information to the business managers external and internal business partners
  • Exposure to the financial service, banking or accounting industry a plus
  • Minimum of 2 years experience within similar roles
  • Understanding of differential discounting is desirable
2

Rates Product Controller Job Description

Job Description Example
Our company is looking to fill the role of rates product controller. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for rates product controller
  • Produce & review commentary on P&L movements, including analyzing p&l attribution and ensuring key drivers are in line with expectations given the underlying risk
  • Responsible for aspects of the month-end p&l close process, including reconciliation review, resolving issues, and escalating key items to management
  • Responsible for aspects of Balance Sheet substantiation for and review of material changes on a daily basis with the balance sheet reporting team
  • Produce and review various Revenue, Balance Sheet, Expenses and Capital Analytical Reporting to the business heads
  • Produce and review financial metrics relating to various regulatory reporting requirements including, but not limited to, Volcker, Y9-C and CCAR
  • Assist in the testing and execution of Interest Rates related Finance project initiatives
  • Daily interaction with trading desk, IT, Market Risk, and other key finance groups
  • Identify issues and initiate discussions on process reengineering, improving efficiency, and working to improve systems
  • Ad hoc projects will be assigned which will involve discussion with operations, legal, traders, market risk, IT, new systems functionality testing *LI
  • Ad hoc projects will be assigned which will involve discussion with operations, legal, traders, market risk, IT, new systems functionality testing
Qualifications for rates product controller
  • Accounting knowledge on how the balance sheet of a markets business is structured and funded is highly desirable
  • Preferred 5+ years of industry experience (Investment Banking / Capital Markets related experience an advantage)
  • Preferred 0-1 years financial experience (Investment Banking related experience an advantage)
  • The provision of reliable and meaningful financial information to the business managers, external business partners and other relevant internal constituents
  • You have 3-5 years working in the financial services, banking or accounting industry
  • You have PC skills including Excel (essential), Peoplesoft Financials, and Essbase comfort with manipulation and presentation of financial data
3

Rates Product Controller Job Description

Job Description Example
Our company is growing rapidly and is hiring for a rates product controller. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for rates product controller
  • Supporting a robust control framework for all processes within your remit
  • Undertaking ad hoc work and investigation arising from business customer requests
  • Supporting project activity
  • Establishing and building relationships with stakeholders
  • Active participation in resource sharing
  • Daily review and reporting of P&L and Risk for complex derivatives and structured notes
  • Validating and understanding daily P&L explains, entailing review of Volcker attributions, higher order explains and residual amounts
  • Providing daily/weekly/monthly P&L commentaries to senior management, explaining P&L in terms of desk's risk position, strategy and economic factors
  • Liaise with Financial Control to investigate and remedy cash flow breaks and review of the FX balances
  • Participate during the month end close to meet business reporting requirements
Qualifications for rates product controller
  • Managing the interaction with key stakeholders such as Front Office, Financial Control, Market Risk Coverage and VCG
  • Co-ordination, oversight and engagement in the month end process ensuring all adjustments are understood and can be validated
  • Ensuring compliance with Product Control standards
  • Participating and driving a wide range of on-going and new projects ensuring the needs and requirements of Product Control are met
  • Ensuring the wider team are constantly focussing on operating efficiencies and improving processes while maintaining a strong control environment
  • Substantial Product Control experience with exposure to Rates products both from a linear and non-linear perspective
4

Rates Product Controller Job Description

Job Description Example
Our company is growing rapidly and is looking for a rates product controller. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for rates product controller
  • Working with external reporting teams to validate balance sheet moves, blended RWA and Capital activities providing commentary where required
  • Identify, design and implement new controls and processes around the P&L production to drive efficiencies and to keep up to date with Global Product Control standards
  • To provide an effective link between Front Office (FO) & other stakeholders within the wider Finance team, bringing specialist product knowledge into the arena, so that any disagreements in daily P+L are resolved on a timely basis & ultimate P+L agreement with FO is achieved, evidenced & logged
  • Production and review of daily trading P&L for Rates business and balance sheet reconciliation
  • Reconcile reported revenues against trader estimate (flash) and comment on variances
  • Field and address trader queries in a timely and accurate manner
  • Review daily FOBO reconciliation to ensure accurate ledger accounting (BO) vs trading system (FO)
  • Participate in Month-end close inclusive of general ledger substantiation & journal entry preparation
  • Work closely with multiple support functions across Operations, IT, Regulatory, Treasury, Financial Control and Market Risk
  • Ad hoc analysis and project work to improve processes, drive automation and provide insight to business and finance management
Qualifications for rates product controller
  • Familiarity with SAP accounting system and Interest Rate risk systems
  • 4-6 years of experience related to job description
  • The candidate should have a strong academic background including a Graduation in Commerce, Specialization in Financial Accounting
  • Fluency in written and verbal communication
  • Strong planning and prioritization skills with the ability to work to deadlines and on multiple tasks and with multiple stakeholders
  • Proficient in MS Office, specifically a strong command in Excel
5

Rates Product Controller Job Description

Job Description Example
Our company is hiring for a rates product controller. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for rates product controller
  • Regular maintenance of trading book hierarchy
  • Understanding of FX & Interest rate products like Swaps, Bonds, Futures & Options would be an added advantage
  • Performing reconciliation of the Vertical Risk System to the sub-ledger
  • Preparation of the financial statement information and distribution of this information to the business unit and internal clients
  • Understand the role holistically including the risk & reporting systems and contribute towards the enhancement of the control environment
  • Daily P&L reconciliation, reporting and analysis of the Risk systems P&L to the Reporting system, including attributions
Qualifications for rates product controller
  • Preferred 2-4 years financial experience (Product Control, Investment Banking related experience an advantage)
  • Manage & overview daily reconciliation of the Risk systems attributed P&L to the Reporting system
  • Drive controls
  • Manage a team up to 5 members
  • Graduate in Finance stream, CFA / FRM will be added an advantage
  • Preferred 5-7 years of industry experience (Investment Banking / Capital Markets related experience an advantage), preferable in the PC domain

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