The XVA Business Finance Control (BFC) team in New York supports the XVA trading desk as part of Counterparty Management (CPM). This business looks to hedge credit and funding risk for all of the trading desks within Global Markets. As a member of BFC you are responsible for the P&L, balance sheet, price testing, planning and reporting functions.
Daily P&L & Balance Sheet – Core Finance Function
- Production and/or review of official daily P&L explain and its provision for VaR backtesting.
- Oversight of trader T0 flashes and estimate to official T+1 P&L variances as business unit level.
- Preparation of daily P&L commentary and substantiation to market events. Monthly & quarterly revenue commentary.
- Review of material new deals.
- Review and approval of changes to valuation adjustments & reserves.
- Review of changes to daily balance sheet & substantiation to transactional activity.
- Balance sheet analysis (capital, liquidity, exposures etc) including inventory aging and its reporting.
- Month end close, including Financial Disclosures and calculation and recording of netting entries
- Determining and implementing appropriate accounting policies & procedures (with Accounting Policy).
- Contributing to Governance process, operational error reporting and support of other internal control process, including SOX.
IPV (Independent Price Verification) Functions
- Monthly Independent Price verification on both Derivatives and securities positions.
- Validation of appropriate application and use of models for books & records.
- Calculation of the Valuation adjustment. Maintaining/updating valuation adjustment & reserve policies.
- Managing key accounting, legal entity, regulatory and P&L issues with the business.
- Exercise of control oversight on behalf of the business.
- Participation in the New Product Review and Appropriation Request processes: modeling structures and process scenarios, review, and control.
- Provision of financial expertise in the design, build, testing, and implementation of new Technology Platforms and Systems.
Planning & Reporting
- Act as key member and advisor to Line of Business Senior Management team, providing decision support analysis and advice on the optimization of business activities with regards to accounting rules, regulatory issues and legal entity structures.
- Development and analysis of key performance metrics
- Participation in the formulation of business strategy; plans; budgets; and forecasts.
- Provide regular updates, analytics and commentary on Line of Business performance.
- Manage the expense approval process for both deal-related and organizational expenses; provide expense analytics and assist the business with recovering deal-related expenses.
- Provide regular updates, analytics and commentary on the GBAM’s externally disclosed quarterly performance.
- Experience with XVA experience which could be CVA, DVA, KVA. Preferably as a product controller or finance person.
Posting Date: 07/12/2017
Location: New York, NY, 250 VESEY ST (NY3004), - United States