Product Control Vice President

Who we are

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

Is the next step in your career at SMBC Group EMEA? We’re looking for a Product Control VP with relevant experience to join our team. 

• Manage delivery of core product Control activities
• Liaise with stakeholders in Front Office and other infrastructure teams
• Drive controls and process improvement (focussing on IPV and process automation)

Business Area

The Product Control team is responsible for the financial controls for the Sales & Trading businesses within SMBC BI, Nikko Capital Markets Ltd, and their subsidiaries. These teams are part of the wider Finance group which also includes Financial Control, Regulatory Reporting, Tax and Finance Transformation.

It is an important role in the Finance department as the principle face off to the Front Office traders for daily P&L reporting and Balance Seet controls of the following desks:

• Debt Capital Markets
• Equity Capital Markets
• Fixed Income trading
• Equity trading
• M&A

Secondary Coverage

• Derivatives Product Group
• Treasury Activity

Position Description

Key Responsibilities:

• Daily P&L reporting for all products and services of the securities product desks
• Providing backup cover for daily PNL reporting for Derivative with focus on IRS, CCS and RPI Trades
• Daily reporting of XVA 
• Enhance IPV process and reporting
• Drive to understand and resolve root causes of issues identified in core activity
• Enhance control framework and drive process change
• Balance Sheet substantiation of GL balances
• Ensuring GL revenue balances agree to management and daily revenue reports with insightful commentary
• Develop subject-matter expertise to collaborate in bank-wide transformation initiatives

Relevant Skills & Experience:

• Controls-first mindset, being the guardian of integrity of core financials and enhancing the control environment
• Advanced knowledge and understanding of the securities business including:
  • the life cycle of a bond, equity and repo trade, life cycle events (e.g., corp. actions) and detailed understanding of the GL accounting entries throughout the life cycle
  • key market and other risks associated with various securities products
  • the mechanism of underwriting
• Understand differences between trade date/value date accounting and ideally a working knowledge of IFRS / JGAAP accounting differences
• Ability to understand end-to-end operating model and accounting process flows & implications
• Knowledge of CVA, DVA and FVA. How they are calculated and factors that can influence their daily valuation
• Managing self and others to pro-actively work through issues and coach and collaborate with other team members
• Ability to communicate and present technical / complex matters in an effective way to various audiences

Competencies

What we offer

For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:

• Hybrid and flexible working 
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance 
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services  
• Access a wide range of learning and development opportunities and career progression opportunities 
• Ambitious remuneration package

So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!