GFX Sr. BFC Product Associate

$85,000 - $113,000 yearly
  • The Resume Review - Recruiting Department
  • New York, NY, USA
  • Jul 20, 2022
Full time Accounting Finance

Job Description

Job description
We’re a culture that:
• Believes in responsible growth and has a proven dedication to supporting the communities we serve.
• Provides continuous training and developmental opportunities to help people achieve their goals, whatever their background or experience.
• Believes diversity makes us stronger, so we can reflect, connect to and meet the diverse needs of our clients and customers around the world.
• Is committed to advancing our tools, technology and ways of working. We always put our clients first to meet their evolving needs
 
The Chief Financial Officer (CFO) Group is responsible for the overall financial management of our company. This includes accounting, financial and regulatory reporting, balance sheet management, financial planning and analysis, treasury, investor relations, corporate investments and tax
Global Banking and Markets Finance strives to be a valued business partner to the company's trading, corporate and institutional banking businesses. Our first priority is to operate a series of key control processes to ensure the integrity of GBAM's financial results. Then we build on these activities to offer performance insight to business leaders. The assets of Finance are its people.
Business Finance Officers/Control (BFO/BFC) Partners directly with our Front Office LOBs providing strategic guidance and insight; Performs the product control function to ensure the integrity of our financial results.
Team / Overview:
The GFX & LCT trading finance team is part of the GBAM CFO organization. The GFX & LCT trading desk provides clients with market-making services in foreign exchange (“FX”) spot,  swaps, forwards and options in G10 and emerging market currency pairs. In emerging markets, products
offered to clients also include local currency bonds and interest rate derivatives. Client execution services include both voice and electronic execution, with trading operations in seventeen countries and dealing centers located in New York, London, Hong Kong, Singapore.
 
Key responsibilities for this role including:
  • Oversight on the official daily P&L explain,  P&L substantiation to market events, significant transaction review and its provision for VaR backtesting and other downstream
  • Monthly Independent Price verification on both Derivatives and securities positions. Have a basic understanding and knowledge of financial models,
  • Calculation of the Valuation adjustment – Validation of appropriate application and use of models for books & records.
  • Maintaining/updating valuation adjustment & IPV Desk Level Procedures (DLP)
  • Preparation monthly & quarterly revenue and balance sheet commentary to senior managers and regulators
  • Regulatory capital disclosures, Price Testing, Sector analysis, Stress Test and Forecasting.
  • Volcker/Capital related validation activities such as Volcker balance sheet review, validation of Volcker and Capital attributes for books to ensure compliance with enterprise guidelines
  • Partner with Trading Desk, Trade Support, Operations, ECM and other partners on business support including new product review, accounting assessment, issue resolution
  • Coordination of the monthly close process and quarterly financial reporting requirements
  • Working on initiatives to simplify/automate manual processes
 
Required Skills:
  • BS/BA Degree required (Finance, Accounting preferred)
  • Hands on experience of minimum 6+ years working in Product Control or Finance group. Global Markets experience required
  • Global Rates market knowledge – familiarity with a broad range of asset classes
  • Derivatives product and valuation knowledge – consisting of technical expertise of models used to reprice complex transactions
  • Advanced experience skills with Excel and complex spreadsheets
  • Control focused, analytical, team oriented, comfortable with complex products
  • Excellent organizational, communication, and relationship management skill
  • Proven analytical skills including data reconciliation and interpretation.
  • Ability to identify and deliver process improvements.
  • Good business partnering skills
 
Desired Skills:
  • Fixed income or derivative experience preferred
  • VP level candidate
Inquisitive, willing to challenge the status quo and strive to improve processes