FirstBank UK is a globally recognised, top-tier bank who provide world-class services to various institutions and individuals. Offering a comprehensive range of retail and corporate financial services/products, this thriving business with over 10 million active customers in over 700 business locations is the oldest African bank in the UK. Due to business requirements, we are now looking to acquire the services of an experienced Product Control Manager to act as the financial guardian for the Bank's Treasury & Markets products.
* Please note that this is a hybrid role with 3 days in the office and 2 days working from home.
Key Responsibilities
Daily and Monthly P&L Production and Analysis
* Produce and validate daily (and monthly) profit and loss reports for Treasury and Markets products.
* Investigate and explain P&L variances, ensuring accuracy and completeness.
* Prepare client and product MI, monitor financial performance against expected profitability and returns targets.
Balance Sheet and Risk Oversight
* Monitor and reconcile trading positions and valuations.
* Review of value at risk and other risk metrics/computations prepared by Market and Liquidity Risk department.
* Ensure accurate balance sheet representation of treasury products.
* Perform monthly/ad hoc stress tests and sensitivity analysis to assess the impact of movements in factors such as interest rates, exchange rate, prices etc on the Bank’s Treasury & Markets portfolio.
Valuation and Price Verification
* Perform independent price verification (IPV), valuation of financial instruments including derivatives and processing of valuation adjustments.
Month-End and Financial Reporting
* Support month-end close processes, including journal entries and reconciliations.
* Preparation of disclosures on financial instruments in the financial statements.
* Support the production of regular and ad hoc reports to management and board as may be assigned by the Head of Finance and/or CFO.
Control and Governance
* Monitor daily to ensure that trading activities are done within approved limits, render reports on breaches as required.
* Participate in product paper review and set-up of relevant product and accounting parameters in all technology solutions and applications used for treasury activities.
* Identify and escalation control issues and process inefficiencies.
* Provide financial insights and analysis to support strategic decision-making.
Key Skills/Experience
* Previous experience in product control or financial reporting within a banking or treasury environment.
* Strong understanding of treasury products (FX, IR derivatives, bonds, repos etc)
* Proficiency in financial systems and tools (Flexcube, Excel, VBA, SQL, Bloomberg etc).
* Good awareness & knowledge of relevant financial regulations.
* Financial instrument accounting and IFRS knowledge and experience
* Strong organisational skills.
* Previous team management experience.
* Strong analytical skills with excellent attention to detail.
In return we offer a fantastic benefits package including
* Up to 10% employer pension contribution
* Life Assurance Cover
* Income protection
* Private Medical Insurance plan (upon successful completion of probation period)
* Contribution to glasses/contacts and eye testing
* Gym subsidy (up to £50 per month)
* Cycle to work scheme
* Employee Assistance Program
* Interest Free season ticket loan for travel
* 25 days annual leave, rising to 28 after 3 years and 30 after 8 years’ service
* Give As You Earn (GAYE)
You can find their privacy policy here: https://www.thecurvegroup.co.uk/privacy-policy/
First Bank is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of sex, race, disability, age, sexual orientation, gender reassignment, religion or belief, marital status, or pregnancy and maternity.
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