What are the responsibilities and job description for the Product Control Lead, Vice President position at Sumitomo Mitsui Banking Corporation?
Overview
We are looking for an experienced finance professional to manage the Product Control team responsible for daily p&l validation, attribution, reporting, monthly independent valuation of the securities and derivatives portfolio, and other ad hoc analytical functions. We will trust this candidate to maintain a solid internal control framework around the entire trade lifecycle that assures the reliability, accuracy, and completeness of information for financial, regulatory, and management reporting. The successful candidate will be involved in internal controls, process efficiency, and finance transformation projects. The candidate will also document department-level policies and procedures and manage the EUC (End User Computing) control process for critical spreadsheets.
Responsibilities
- Manage the team responsible for daily trading and clean p&l validation, explanation, and reporting. Clean p&l is used for Value-at-risk (VaR) backtesting under the capital rules applicable to Bank Holding Companies per the Federal Reserve, Swap Dealers per the Commodity Futures Trading Commission, and Fundamental Review of the Trading Book per the Basel Committee on Banking Supervision.
- Lead the independent price verification of securities and derivatives, including inflation-linked swaps, total return swaps, interest rate options (caps, floors, swaptions), credit derivatives, and fx options across G10 and Emerging Market (EM) currencies.
- Assist with transformation efforts to modernize the company's financial infrastructure.
- Monitor trading activity for ad-hoc valuations and trade reserves.
- Document policies and procedures.
Qualifications
Required Experience:
- 7 – 10 years of combined experience in financial services audit or capital markets advisory, and fixed income product control
- Derivatives experience
- Bachelor's degree in Accounting or Finance or equivalent
- CPA, CFA, or FRM
Required Skills/Abilities:
- Working knowledge of product control processes, trade lifecycle, and proper internal controls framework within fixed income capital markets
- Knowledge of derivatives and other financial instruments per US GAAP
- Leadership skills with proven ability to mentor and train junior staff
- Proficiency in Excel, including working knowledge of advanced functions
- Excellent documentation skills
- Ability to build professional relationships
