Citi Product Control Manager – Commodities in Budapest, Hungary
Primary Location: Hungary,Budapest,Budapest
Education: Bachelor's Degree
Job Function: Finance
Shift: Day Job
Employee Status: Regular
Travel Time: No
Job ID: 17042544
Product Control is the largest department in Finance with responsibility for controlling daily profit and loss and balance sheet reporting, price verification and new trading activity for the ICG in EMEA.
We work closely with all other areas of the business (including the Trading desks, Risk Management, Operations, and other areas of Finance) and develop a good understanding of the products traded, along with the associated market risks and accounting complexities.
The role is part of the Product Control team in Budapest, supporting the EMEA Commodities Trading business.
A challenging role within the Commodities Product Control team, primarily responsible for managing the team reporting and analysing the daily P&L and balance sheet for the business. Candidates will work closely with all other areas of the Finance department, liaising with the trading desk, risk management, operations and middle office.
Candidate will be responsible for supervising and managing the team to ensure daily P&L and balance sheet validation is performed timely and consistently within policy and Production Control framework.
The department is organised into product-aligned teams. The product scope is comprehensive, contains of investment and institutional banking products, includes cash, derivative, as well as structured and exotic variants of the following asset classes; credit, FX, equity, money markets and rates.
We offer unique opportunity to get to know all the full range of institutional and investment banking products in the working practice of a globally leading multinational financial services conglomerate.
Our Budapest office is deeply integrated part of the EMEA regional hub, establishing direct contact with the business and finance areas in the regional centre.
• Daily production, validation and supervision of P&Ls/BS. Explanation of P&L/BS movements to management in terms of trading activity, key drivers and profit attribution analysis.
• Daily and monthly documentation and evidencing of P&L/BS validation and performance of financial controls
• Producing and participating in daily and monthly communication of business performance and monitoring of business control metrics with Finance management and stakeholders for effective challenging. Includes preparing the daily product specific business level revenues and commentary.
• Support design of controls and standardization project to underlying Product Control’s P&L working files for efficiency and consistency across multiple P&L’s to enable effective cross-training and consistent controls in detailed working files
• Understand the Price Verification process and its impact on the P&L.
• Reviewing new trades, understanding the structure, associated risks and the P&L generated on them.
• Working with Accounting Policy to determine appropriate accounting treatment for trades under U.S and U.K GAAP.
• Perform routine reviews to ensure adequate Balance Sheet and P&L controls exist and are monitored daily.
• Complete all tasks in connection with the organization’s activity but not detailed in the current job description, charged by the direct manager, or the functional head.
• Manage the daily operation of the team to ensure all controls are in place and those are working effectively
• Work with internal and external audits
• Actively manage your team including analysts and supervisors to ensure there is strong and motivated team and a succession plan is in place for all levels
• Participate in the initiatives of Budapest Product Control
• Actively contribute to the common goals of EMEA Product Control and work on other tasks charged by the Budapest Product controls heads
• The successful candidate will have the opportunity to learn more about investment banking products to complement their skills set
• The candidate will have the opportunity to manage a team in an international banking environment including close interaction with other regions
Knowledge and Experience:
• Good understanding of Investement Banking Products.
• Good financial accounting skills
• Management/supervisory experience
• 10+ years experience in financial controls, accounting
• Excellent spoken and written English
• Strong mathematical or analytical background
• Keen attention to detail.
• Strong communication skills - written and oral.
• - University/College degree in Accounting/Finance
• Excellent interpersonal skills - able to deal with a range of senior/junior staff across a number of departments of the Corporate Investment Bank.
• Ability to meet tight reporting and project deadlines.
• Pro-active, able to manage time, people and issues
• Candidate will be expected to demonstrate strong leadership abilities and decision making skills.
• Self starter who proactively seeks to improve existing controls and streamline processes both from a tactical short term viewpoint, and also from a strategic long term perspective, and implement these initiatives to completion.
• A high calibre individual with strong communication skills, both written and oral. Attention to detail and the ability to meet reporting and project deadlines.
• Someone who can hit the ground running, and can operate independently once deliverables clearly specified.