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Jersey City

    Product Control Analyst - Jersey City, United States - SMBC Group

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    Full time
    Description

    The anticipated salary range for this role is between $66,000.00 and $77, The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

    Role Description

    The Product Control team seeks an experienced Product Control Analyst responsible for daily P&L validation, explanation, risk analysis, and reporting for our fixed-income sales & trading (FIST) desk that makes markets in corporate loans, interest rates, and asset-backed products. The successful candidate will be involved in understanding the business and P&L, internal controls and process efficiency projects, document policies and procedures, and liaise with internal and external auditors and regulators.

    Role Objectives

    Daily:

    • Daily P&L validation, explanation, and reporting.

    • Detailed analysis and explanation of daily price movements in securities, structured products, credit spreads, and exchange-traded products in multiple currencies.

    • Ensure trades and their complete life cycle are recorded and posted on the GL according to US GAAP and JGAAP.

    • Monitor trading activity for ad-hoc valuations and trade reserves.

    • Reconcile trading books to the general ledger.
    Weekly:

    • Preparation and review of weekly control pack for senior management.
    Monthly:

    • Independent Price Verification (IPV) of corporate bonds, asset-backed securities, credit derivatives, and exchange-traded products.

    • Month-end close and reporting for internal and external stakeholders.
    Process Control Analysis:

    • Evaluate internal controls to identify weaknesses.

    • Propose process and control enhancements.

    • Collaborate with business analysts, project managers, and IT to implement process and control improvements.

    • Participate in UAT testing and implementation of process and control improvements.

    • Document policies and procedures.

    Qualifications and Skills

  • 2 - 4 years of combined experience in financial services or product control. Big 4 financial services audit experience preferred but not required.
  • Bachelor's Degree in Accounting or Finance or equivalent.
  • Working knowledge of product control processes preferred but not required.
  • Exposure to the month-end close process and a solid understanding of the internal control framework surrounding the entire trade lifecycle to assure the accuracy and completeness of information for financial, regulatory, and management reporting.
  • Experience in Excel, including working knowledge of advanced functions; VBA skills preferred but not required.
  • Excellent communication skills, including writing/documentation.
  • Self-motivated with the ability to build professional relationships/work well in a team-orientated setting.


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