EMEA Credit Portfolio Group; XVA Product Control – Associate

The role entails independent, accurate and timely analysis of daily P&L and Risk for the CPG ( Credit Portfolio Group) trading desk.

As a EMEA CPG Product Control Associate in the Product Control team, you will have extensive interaction with the Front Office trading desk, Market Risk and wider support functions team and will be required to have strong communication skills, be self-motivated and able to work independently. In this role you will also be provided with an excellent opportunity to learn and gain an in-depth understanding of XVA (CVA and FVA) risk management techniques.

The CPG desk trades a wide range of products across all asset classes such as Credit Default Swaps, CDS indices, Bond Futures, Interest Rate Swaps, FX forwards, Cross currency swaps, Commodity Futures, Equity Futures and Options.

• Reviews and reports of P&L and Risk (daily)
• Validates and understands daily P&L explains, first order & higher order explains and residual amounts.
• Understand movement and explains for the changes in CVA and FVA reserves on daily basis and corresponding risk changes driven by these changes.
• Coordinate closely with traders on understanding the movement in books and Day 1 P&L issues.
• Identifies, design and implements new controls and processes around the P&L production to drive efficiencies and to keep up to date with Global Product Control standards
• Participates in a wide range of on-going and new projects ensuring the needs and requirements of Product Control are met
• Provides daily/weekly/monthly P&L commentaries to senior traders, senior management, explaining P&L in terms of desk's risk position, strategy and economic factors
• Liaises with Financial Control to investigate and remedy cash flow breaks, P&L breaks and FX exposure breaks.
• Partners with the business to drive forth and implement robust controls and new business initiatives
• Drives coordination across various front & back office support functions to ensure resolution of control and reporting issues in an accurate and timely manner

• Work experience within Product Control, Financial Control, Accounting, or related area
• Bachelor’s degree in Accounting, Finance, Business or related area
• Strong analytical and problem-solving skills with excellent attention to detail
• Ability to challenge efficiency and drive forward on change and innovation of processes
• Excellent communication skills with ability to understand/explain complex concepts