Associate, Product Control

The Product Control team seeks an experienced Product Control Associate responsible for daily P&L validation, explanation, risk analysis, and reporting for our fixed-income securities, loans, derivatives, and FX trading desks. The successful candidate will be involved in internal controls and process efficiency projects, document policies and procedures, and liaise with internal departments, external auditors, and regulators.

The anticipated salary range for this role is between $79,000 and $120,000. 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.

Daily:

• Daily P&L validation, explanation, and reporting of securities, loans, derivatives, and FX products.
• Detailed analysis and explanation of daily price/curve movements across products and 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. Work with Treasury, Risk, and Accounting to understand P&L variances and drivers. 
• Create and enhance reporting templates via automation.

Weekly:

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

Monthly:

• Assist with the independent price verification (IPV) of securities, credit derivatives, loans, 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.
• Enhance the reporting systems to create automated reports. 

• 4 - 7 years of combined experience in financial services or Product Control. Big four financial services audit experience is preferred but not required. 
• Bachelor’s Degree in Accounting or Finance or equivalent. CPA preferred but not required.
• Working knowledge of Product Control processes and trade lifecycle per US GAAP. 
• Exposure to the month-end close process, independent price verification (IPV) of fixed-income and FX products, 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.
• Proficiency in Excel, including working knowledge of advanced functions; VBA skills preferred but not required.
• Proficiency with Bloomberg and comfortable working with big data. 
• Excellent communication skills, including writing/documentation.
• Self-motivated with the ability to build professional relationships/work well in a team-orientated setting.