Hiring Manager - Kiran Choudrie Closing Date - 7th December 2009
Job Description
Background
The Delta Rates Trading unit within RLMCC consists of approximately 70 traders predominantly trading interest rate derivatives (swaps and FRAs), bonds and FX- The desk is supported by Delta Rates Trading BUC- Role This is role created to provide Finance support to the Delta Rates Trading desks- The successful candidate will join a team of 12-
Requirements
Essential Experience
- Graduate level (with a 1 st or 2:1) coupled with strong academic background (or equivalent from outside UK)
- Qualified accountant with up to 2yrs PQE within product control
- Must understand the basic principles of derivative pricing
- Strong Excel skills
- Good appreciation of the Investment Banking business
- Good understanding of Finance operations and processes
Supplementary Experience - Strong grounding in interest rate, FX and debt market products-
- Good working knowledge of International Accounting Standards
Responsibilities
Responsibilities: The candidate will have the following key responsibilities:- - Production and supervision of the daily P&L process, including explanation of P&L by driver-
- Ensuring that the month end numbers agree to the sum of the daily P&L or provide meaningful explanations-
- Monitoring of all pricing and valuation issues, including off-market rate analysis in respect of all positions held by the desk-
- Balance sheet substantiation and control-
- Project work covering controls enhancement, efficiency initiatives and strategic developments in order to provide business advantage-
- Regular and ad-hoc analysis of aspects of the business both tactical and strategic-
- Contribute significantly to individual development-
The individual will be required to establish collegiate working relationships, at all levels, with both the business and support areas (e-g- Market Risk, Operations, Middle Office as well as other areas within Finance) in order to provide an integrated and proactive approach to business development Specific Responsibilities: Daily p & l process - Accurate and timely production of the daily p & l process
- Ensure all adjustments are corrected on a timely basis
- Ensure p & l by driver is investigated, understood and delivered to the Front Office
- Ensure p & l on new deals is monitored and reported
- Ensure that appropriate controls are exerted on a daily basis in order to facilitate balance sheet substantiation-
- Ensure that any issues are escalated appropriately on a daily basis
Month-end financial reporting process - Ensure full balance sheet substantiation and seek verification relating to areas outside immediate control e-g- nostro balances
- Ensure integrity between the financial and management accounts with minimal differences between daily and monthly-
- Ensure currency p & l is monitored and sold off together with remittance to a central area
All pricing and valuation issues, including off-market rate analysis in respect of all positions held - Ensure that independent pricing of all positions is performed on a daily basis else as identified by the "IPV Compliance Statement" ensuring that non-compliance is escalated accordingly-
- Liaise closely with the Global Independent Pricing Unit on valuation issues Balance sheet substantiation and control
Ensure that all balances within agreed cost centres are subject to strict reconciliation, substantiation and control- - Understand and explain monthly balance sheet movements-
- Liaise closely with other support areas who provide Finance with the above service whilst noting that ultimate responsibility rests with the Finance
- Escalate all control issues to line management-
Project work covering controls enhancement, efficiency initiatives and strategic developments in order to provide business advantage - Actively participate in the Business Transformation Programmes and to understand where this gives us opportunities to improve the service we provide-
- Identify control and efficiency initiatives
- Contribute to control and efficiency initiatives
- Assist in major systems developments
- Assisting in system development, testing and implementation
Regular and ad-hoc analysis of aspects of the business both tactical and strategic - Assist, as appropriate, in order to ensure that all proposed new products or variations of existing products can be appropriately booked, accounted for and independently valued and measured through the New Product Approval Process
- Ensure daily and monthly p & l commentaries are produced to the highest standards and accurately reflect market movements vs- positions held
- Liaise as appropriate with the Business in order to perform ad-hoc value added analysis
Contribute significantly to individual development - Agree relevant development challenges that focus on improved delivery to customers or colleagues ·
- Actively identify and undertake relevant training in order to improve performance or enhance career development
- Agree appropriate and challenging objectives with line manager
Generic Responsibilities - Ensure the business area conducts its activity in accordance with all relevant external regulators and RBS policies-
- Ensure compliance with the regulatory and statutory requirements and RBS compliance policies and procedures affecting the business area-
- Report any breaches of regulations to Legal and Compliance-
- Ensure the business unit operates in accordance with stipulated risk management policies and procedures, covering market risk, credit risk and operational risk-
- Ensure failures and shortcomings in policies and procedures are reported-
The Individual
- Self motivator with excellent interpersonal skills
- Excellent communication skills
- Have demonstrated a proven ability to identify and resolve issues with minimum supervision
- Flexibility to cover other areas within the Debt Markets business
- Able to collaborate closely with other departments
- Capable of influencing the decisions and actions of others
- Creative, practical and reliable
- Able to break down complex problems into their core components
- Able to work under pressure and meet tight deadlines
- Team player with the skills to help in developing the team and meet the business objectives
- A forward thinking driver who will make things happen
- Ambitious with a strong appetite to understand the products traded so as to provide insight and analysis rather than being purely production focused
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