Cleared Derivative Control, VP

Credit Suisse
Pune, India
Jan 15, 2021
Jan 18, 2021
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Credit Suisse is a leading global wealth manager with strong investment banking capabilities. Headquartered in Zurich, Switzerland, we have a global reach with operations in about 50 countries and employ more than 45,000 people from over 150 different nations. Embodying entrepreneurial spirit, Credit Suisse delivers holistic financial solutions to our clients, including innovative products and specially tailored advice. Striving for quality and excellence in our work, we recognize and reward extraordinary performance among our employees, provide wide-ranging training and development opportunities, and benefit from a diverse range of perspectives to create value for our clients, shareholders and communities. We are Credit Suisse.

We Offer
Group Operations - India Group Operations (GO) carries out high-quality and efficient banking services to clients across Credit Suisse's business divisions ensuring an excellent execution of millions of transactions daily. We operate globally in four regions - 'Switzerland', 'APAC', 'Americas' and 'UK Entities, Wroclaw & other Regional Offices'.
GO in India has staff based across its offices in Pune and Mumbai and serves clients and businesses globally. Pune forms one of the major service delivery centers for us where activities related to trade validation, settlement, reconciliation and reference data services are performed across products and asset classes. Group Operations Pune is a vibrant location known for delivering excellence in an agile and inclusive environment. We foster a culture based on diversity and meritocracy and encourage internal mobility to our employees.
We are a department which values Diversity and Inclusion (D&I) and is committed to realizing the firm's D&I ambition which is an integral part of our global Conduct and Ethics Standard
The Cleared Derivative and Control (CDC) team is a global team functional aligned across asset classes responsible for maintaining control and supporting growth for the Prime Derivative Clearing business comprising Listed Futures and Options, & OTC client clearing.
The role on offer is with the CDC Balance Sheet and Control team which is a critical function that requires you to have strong accounting skills to understand the balance sheet i.e. ability to analyze process having an impact on the balance sheet, identify process gaps and drive remediation. A typical month begins with month end journal postings to ensure accuracy of the ledger, followed by putting together the balance sheet substantiation documents in preparation for account owner sign off. The account owner sign off meeting requires you to present the balance sheet status to senior management. You will also be responsible to engage with various business partners groups example operations, finance function and product control to drive issue remediation. The second half of the month is focused on SOX testing and other projects thus requiring you to manage multiple assignments and tasks and set priorities and drive results.
This is a very important control function and is the last line of defense to ensure accuracy of the firm's financial statement. Any breaches will have an impact on the accuracy of the financial statement and may also result in reputational and regulatory losses. Opportunity to work in a dynamic environment and should possess the ability to adapt to changing conditions and work assignments. You will need to be flexible to working APAC / EMEA hours
Key Responsibilities
  1. Balance Sheet Substantiation (60%)
  • Responsibility of defining and implementing accounting framework for the Balance Sheet Substantiation process for all regions (APAC, EMEA and AMER)
  • Responsible for month end close activities which include journals, reconciliations, balance sheet substantiations and reporting
  • Manage the resolution of reconciliation break/exception items which will include investigation, explanation and timely raising of issues
  • Process standardization across business - Identify operational improvement areas and lead initiatives to realize benefits
2. Control Framework (20%)
  • Ensure strong control environment in the team by implementing effective controls, monitoring effectiveness of processes and by increasing awareness in the team.
  • Responsible for building and maintaining a control framework across the department.
  • Drive SOX testing including beginning of year readiness and throughout the year testing
  • Responsible for proactive identification of risk and control weaknesses; Regional roll out of Supervisory Effectiveness Reviews; Process Control Inventories and targeted deep dives.
3. Other additional responsibilities include (20%)
a) Client Asset Protection: Responsible for the daily front to back Client Asset Protection and Segregation process for APAC Operations.
b) Projects in line of but not limited to
  • Continuous improvement of the current process and procedures
  • Response to strategic change initiated by and affecting the departments
  • Participate and coordinate in project initiatives and UAT

You Offer
  • Understand the value of diversity in the workplace and are dedicated to fostering an inclusive culture in all aspects of working life so that people from all backgrounds receive equal treatment, realize their full potential and can bring their full, authentic selves to work.
  • Investment Banking experience in either Product Control, Financial Accounting or Control/ Operational Risk
  • Degree in Business, Finance or Accounting i.e. Qualified Accountant CA/ICWA (preferred) or MBA/ CFA.
  • Experience of having lead global / regional teams
  • Proven ability to innovate, deliver and drive change
  • Competent in process review and analysis abilities
  • Ability to prioritize tasks, meet deadlines and work under pressure
  • Strong control mindset, analytical skills and high degree of accuracy is required
  • Exceptional written, verbal communication and presentation skills
  • Ability to forge strong working relationships across departments in a global organization and experienced in dealing cross culturally
  • Flexibility to work in both APAC and EMEA time zones depending on responsibility allocation
  • A positive can do attitude!
  • Result oriented, dedicated, hardworking who can work on own initiative and can deliver on time under pressure with a high level of integrity, sense of urgency, attention to detail and quality standards

Credit Suisse is an equal opportunity employer. Welcoming diversity gives us a competitive advantage in the global marketplace and drives our success.
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