Product Control - North America G10 Rates, VP / Product Control Senior Manager
- Primary Location: United States,New York,New York
- Education: Bachelor's Degree
- Job Function: Finance
- Schedule: Full-time
- Shift: Day Job
- Employee Status: Regular
- Travel Time: No
- Job ID: 18076808
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi's Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.
Citi's Finance Division is comprised of various global functions, including: Product Control, Treasury, Controllers, Balance Sheet Substantiation, Mergers & Acquisitions, Financial Projects & Initiatives, and Financial Planning & Analysis. The Finance Division is the guardian and communicator of key financial information and controls. As a partner with Citi's various businesses, Citi Finance drives business franchise and legal entity decisions on capital planning, liquidity, budgeting, tax, strategic direction and policy management.
Product Control is a global control function within Citi Finance and is responsible for the accounting and financial reporting of a trading desk or business product. Product Control reports daily, monthly, quarterly and yearly revenues and is responsible for key controls over revenue reporting and analysis, balance sheet reporting and analysis, new transaction reviews, foreign exchange exposure reporting and coverage, and independent price verification.
For this role, the candidate will support the NAM G10 Rates Business, one of the primary trading businesses within the Citi Markets & Securities Services Organization. The business operates globally across both fixed income securities and derivative markets and among the leaders in the industry. This business is primarily comprised of trading activities in which it services both clients and the firm itself. The business manages their risks by hedging with various financial instruments including, but not limited to OTC derivatives, futures, options, and treasury securities. The objective of this role is to become a subject matter expert on all aspects of these products and play a prominent role in driving processes forward to enhance controls.
This is an opportunity to provide leadership on driving change improvement within a key business for Citi, to be able to demonstrate delivering results, working as a key strategic business partner to the business and helping to build a great Global Product Control team.
- Oversight of daily P&L production, validation and reporting for the NAM G10 Rates business, specifically focused on interest rate swaps, options and exotic derivative products, including but not limited to fair value option structured notes portfolio;
- Carry-out daily and month-end sub-ledger / ledger validation;
- Review and assess balance sheet and regulatory reporting, month end closing process and quarterly / annual disclosure reporting
- Understand the Profit attribution analysis (PAA) of the portfolio and communicate daily and monthly results and/or issues to the trading desk and senior management, particularly around residuals. The monthly would involve coordinating functional and business working groups;
- Partner with Valuation Control & Analytics (VC&A) Team in the review and supervision of inventory valuation testing and results;
- Engagement in New Products Approval Committee (NPAC) reviews and validation, including documentation of Product Control reviews;
- Oversight of daily risk / position validation;
- Daily interaction with others throughout the organization, including, but not limited to Finance (i.e. Treasury, Tax, Accounting Policy, Planning, etc.), trading desks, transactors, middle office, risk management, business unit management teams and operations. This will be necessary to resolve issues and drive change;
- Management Control Self-Assessment responsibility for the respective areas of coverage;
- Ad hoc projects / assignments including system development, redesigning and streamlining daily and monthly processes, not just for team, but also for the larger department;
- Providing and reviewing analytics / control metrics for the management team, including providing high quality commentary of results related to the business activities;
- Assist with coordination around internal and external audit reviews
- Bachelor's degree required, Finance and / or Accounting degree preferred
- Advanced degree, CPA and / or CFA a big plus
- Minimum 5 years related business experience required; experience supporting fixed income derivatives / trading desks
- Must have strong knowledge in accounting fundamentals, project management, financial modeling, portfolio management and understanding of cash flows and asset valuation preferred, particularly with Rates products
- Excellent interpersonal and communication skills, both verbal and written required
- Strong MS Office Excel skills a must, Access, PowerPoint and other financial systems are pluses
- Must have a good eye for detail, but also be able to step back and see the larger strategic picture
- Must manage multiple tasks in a fast paced environment while meeting deadlines and working under pressure
- Able to influence others without authority and interact across all levels of the organization required
- Goals and solutions oriented as well as self- driven