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Product & Financial Controller
Reference	bs/51bfba3c/00020728
Employer	RBS
Sector	Debt / Fixed Income
Salary	Negotiable
Town/City	London - UK
Locations	South East
Contract Type	Permanent
Date Posted	24/03/2010 21:05:00

Job Description

Hiring Manager: Gary Thompson Closing Date: 2 weeks from date of advertisment

Job Description
Further to the Strategic review within GBM, a core finding has been the need for an increased focus on the scarce resources of funding and liquidity within the division- This is a high profile, industry-wide concern, with banks seeking to reduce their dependency upon the wholesale inter-bank market, whilst also lengthening the maturity profile and diversifying sources of finance-
The ALM (Asset & Liability Management) desk has responsibility for the execution of GBM liquidity and funding strategy, raising term funding and managing the associated interest rate risk- The desk will have a close interaction with Group Treasury, CBSM and the Liquidity Reporting Unit, ensuring that it adheres to internal policy and meets with regulatory demands- The Business Unit Control function has a key role to play in providing timely, accurate, value-adding financial information, analysis and commentary- The function should ensure integrity with respect to the process of collecting and reporting the costs of raising term funding, as incurred by the ALM desk; there is also a requirement to provide stakeholders across GBM and Group with transparency through rigorous analysis and identification of those factors influencing financial performance- In addition to the reporting requirement, BUC operate, manage and support a number of initiatives designed to reflect the true cost of financing certain businesses and divisions across the bank- This includes analysis of third party lending, in order to calculate and charge term liquidity premium; whilst there is also a mechanism for re-allocating financing costs throughout the fixed income trading platform- These activities facilitate an accurate reflection of performance across the division, ensuring an efficient allocation of resources and helping to align the goals of the business with Group- The BUC function will also play an integral role in its engagement with the FLM programme- This will include acting as BUC's subject matter expert, providing valuable expertise as the operating model is established, whilst also understanding and delivering against key BUC requirements- Specifically, the role will require:

Production and reconciliation of daily p&l to trade data;
Ensure a sound system of control for capturing and reporting genuine liquidity cost information;
Explaining P&L movements to ALM desk, CBSM, GT and other key stakeholders;
Value-adding P&L commentary, including variances to expectations, budgets and trend analysis for inclusion in MI pack;
Detailed understanding of business, in order to support BUC senior management team and drive intelligent decision making across the organisation;
Balance Sheet substantiation, control and analysis for ALM business units;
Providing validation, expertise and integrity to GBM balance sheet information for use by the bank in daily liquidity reporting and business decision-making;
Thorough understanding and application of the tactical initiatives, such as TLP and Securities IA; Comprehensive understanding of the wider GBM/Group policies, procedures and stakeholders that impact funding/liquidity decision-making and reporting;
Ability to engage with stakeholders across functions and geographical boundaries to ensure an integrated and global view of the business;
Engagement with the Funding & Liquidity Management (FLM) programme, ensuring an awareness of all key issues and an ability to consistently meet with expectations;
Support for the programme's strategic initiatives, including input as subject matter expert, analysis and validation/testing-

Requirements
Essential Experience:

Qualified Accountant
General appreciation of Financial Control concepts/requirements;
Experience of/demonstrated ability re working and building strong business relationships in a changing and fast moving environment;
Experience of/demonstrated ability re working autonomously to prioritise workload in a time-pressured environment;
Experience of working in an environment with a strong customer focus, with experience of pro-actively working with demanding customers in a flexible manner;
Experience of delivering results in a fast moving, dynamic environment with proven ability to adapt and be responsive to changing customer , sponsor and stakeholder requirements;
Good working knowledge of IFRS and FSA rule book-

Supplementary Experience:

Experience within a Money Markets or Treasury based business area-

The Individual

Sets exemplary standards of delivery and consistently meets with customer expectations
Strives to gain business and product understanding to provide insight and value added analysis;
Ability to investigate issues fully, ensuring that all relevant information is considered;
Ability to appreciate the bigger picture;
Shows resilience and is therefore able to work to tight deadlines with a flexible approach;
Strong inter-personal and communication skills
Able to work successfully both within immediate team and with the business and support areas as well as wider Finance, in order to provide an integrated and proactive approach to business development and influence outcomes for business benefit;