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Product Control Associate/AVP

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  • Requisition # 10049254-WD
  • Job Type Full time
  • Date Posted 02/04/2022
  • Location Jersey City, NJ

Your potential. Your opportunity.

Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world. Across the globe, we’re 180,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

Job Summary:

The position is for a multi-functional support for the Product Control Department supporting the Rates and Credit Derivatives Trading Desks and will requires Derivative products knowledge. Products supported include but not limited to FRAs, Caps/Floors, Interest Rate Swaps and Swaptions as well as derivatives thereof such as non-vanilla swaps; muni-swaps, basis swaps, etc. Other products supported are internal FX spot and Forward trades, Credit default Swaps and Credit indices. Strong business analytical skills are required for the daily control and support of the Rates and Credit Derivative Products portfolio including support functions for the daily market data snap, importing and uploading processes for EOD batch processing.

Major Responsibilities:

P/L Reporting– Responsible for Daily flash and Official P/L reporting

  • Daily Profit /Loss reporting and explanation of results for each desk
  • First level review/ analysis of data for accuracy, completeness and validity of balances of the flash PL estimate reports and the Official PL reports.
  • PL attribution reports and explanations by risk factors (ie , Rate delta, Credit Delta, Time, New Deal)
  • Preparing daily and month end market commentary to explain PnL movements
    Perform Quarterly and ad hoc reporting to head office

Daily General Ledger Reconciliation – Responsible for Validation of P&L balances against the General ledger

  • Perform reconciliation of sub-ledger to general ledger uploads.
  • Perform analysis of valuation breaks as they relate to resolution of identified discrepancies
  • Generate report outputs for distribution to supported departments as required
  • Ensure timely and accurate production of regular reporting

Monitor End-of-Day processing – Responsible for monitoring of data across multiple front and back office systems.

  • Daily monitoring of pricing systems and performing operations required for accurate and timely EOD system batch processing
  • Ensure that file transfers and system jobs are performed in a timely manner
  • Understand internal infrastructure to monitor and coordinate timely execution of recovery processes to ensure End-of-Day batch is accurate and complete.
  • Attend weekly meetings geared toward resolution of ongoing issues.

Customer Support (Internal):

  • Respond to audit, front office, and comptrollers’ reconciliation requests in a timely manner.
  • Maintain liaison with the Front Desk, Back Office, Comptrollers, Auditors, Head Office and IT support on issues related to PL reporting as assigned
  • Ensure compliance with all relevant policies and procedures.
  • Perform other departmental tasks as assigned

Business Analysis for Unit’s ongoing projects:

  • Product and process onboarding for Rates and Derivative products
  • Identification of business requirements and impacted workflows
  • Full participation during SIT/UAT testing, and implementation of new products, system enhancements/upgrades.
  • Define and document new workflows in existing processes and procedures.
  • Identify new reporting requirements for Derivative Products
  • Provide Status updates to management as required

Qualifications:

  • A Bachelor’s Degree in finance or related coursework
  • Minimum 2-5 years of P&L reconciliations and product control related experience.
  • Understanding of financial products and pricing and accounting fundamentals
  • Strong technical skills required as described above including MS Excel at the intermediate level, knowledge of Bloomberg and VBA a plus
  • Ability to multi-task and meet tight deadlines required
  • Keen eagerness to liaise with senior stakeholders across finance, front office, treasury, operations and IT

The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.

We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate on the basis of race, color, national origin, religion, gender expression, gender identity, sex, age, ancestry, marital status, protected veteran and military status, disability, medical condition, sexual orientation, genetic information, or any other status of an individual or that individual’s associates or relatives that is protected under applicable federal, state, or local law. 

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