Product Controller - Nigeria Job at Stanbic IBTC Bank Plc

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Job Title: Product Controller

Location: Lagos, Nigeria

Employer: Stanbic IBTC Bank Plc (part of Standard Bank Group)

Job ID: 12524

Division: Group Finance

Position Category: Group Finance – CIB

Employment Type: Full Time – Permanent

Shift: No

Regulatory Approval: Yes

Division Proposition:Group Finance is a corporate function that serves the overall Standard Bank group across a variety of accounting disciplines – internal and external reporting, budgeting and planning, tax, technical accounting and investor relations.  It also runs the bank's capital management and regulatory reporting teams and the financial shared services processing centre.  Group Finance has its own, dedicated SAP technical support and development team and a new financial systems and process improvement programme team known as Refine.

Position Description: To provide a routine product reporting on income statement, balance sheet and reconciliation function within the Product Control Division of Global Markets Finance.

Key responsibilities:

Daily Reports;

•   Daily unsettled securities position for the financial control team

•   Daily submission of the trading revenue for Bank

•   Daily submission of trading revenue for Stanbic Capital

•   Daily preparation of unsettled position reconciliation

•   Daily preparation of Unders Schedule for Global Market

•   Daily reconciliation of SAP  to DTR for P and L

•   Daily reconciliation of SAP to DAR for Balance Sheet items

Monthly Reports;

•   ID accounts reconciliation

•   Reconciliation of  DOP assets

•   Financial asset valuation schedule for the Central Bank of Nigeria

•   Preparation of FX sell down figures  on calypso for Global Market

•   Preparation of the USD provision reports

•   Balance Sheet substantiation

•   Intercompany account reconciliation.

Required Skills and Qualifications:

Knowledge;

•    Finance/Accounting Degree, ACA, ACCA,CFA or any other relevant financial degree.

Experience;

•   4-5 years experience working in a product control or similar environment (finance or risk support role would be sufficient)

Key performance measures:

•   Daily calculation of P&L, utilising market data from Market Risk and Deal Data from front end dealing system and Core Banking System.

•   Daily reconciliation of the P&L and product balance sheet between front office dealing systems, core banking systems, general ledger and dealers, utilising market data from Market Risk and Deal Data from front end dealing system and Core Banking System.

•   Daily reporting, analyses and investigation of P&L and product balance sheet.

•   Investigation and resolution of daily P&L and balance sheet variances.

•   Preparation of periodic P&L and balance sheet summaries/analyses.

•   Liaison with all front office related areas (recons, front-office, back office and market risk).

•   Internal client liaison.

•   Ad-hoc assignments, projects and systems work.

•   Design relevant business processes and system deliverables to implement new products and systems according to Global Markets Financial Control requirements.

•   Daily DTR production with the inclusion of Finance adjustments – IPV Variances – Bid Offer Spread adjustments – Overs and Unders – CVA adjustments – Asymmetric Accounting adjustments – System bug adjustments

•   Daily P & L Commentary (High Level)

•   Monthly P & L Commentary (Detailed)

•   Daily Balance Sheet Production by Profit Centre with the inclusion of all Finance Adjustments – IPV Variances – Daily FTP – Bid Offer Spread adjustments – Overs and Unders – CVA – Asymmetric Accounting adjustments – System bug adjustments

•   Daily Balance Sheet Commentary (High Level)

•   Monthly Balance Sheet Commentary (Detailed)

•   Weekly and monthly dashboard reporting

Required Competencies:

Problem Solving;

•   Investigation of daily P&L and Balance sheet variances.

•   Assist in designing business processes on relevant system implementations

•   Ad-hoc queries

Planning;

•   Daily time management – tasks are generally completed daily

•   Month-end/year-end pressures are limited to analyses and reporting

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