Assistant Vice President Product Control

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Job Profile

Overall Purpose of Role

Product Control is a support department for Front and other Middle office areas playing an active role ensuring the firm's profit and loss and risks are managed and reported. Core components of the function are as follows:

• Profit and Loss reporting: Providing Management and the Business Units with key financial information via the P&L reporting and analysis process in a timely and accurate manner.  Ensuring all daily P&L is fully explained via attribution to risk parameter movements and deal activity as well as market-linked commentaries

• IPV and Valuations: Providing Management and the Business Units with independent validation of market data, model inputs and official valuations vs 3rd party sources to ensure all positions are accurately valued.  Quantification of valuation uncertainty under regulatory standards including associated regulatory reporting and deduction from Capital resources.  Facilitating the implementation of improved valuation models and data structures where necessary

• Provisions and Adjustments: Ensuring the accuracy and sufficiency of reserves and valuation adjustments to support new and existing products and businesses  in line with the firm's overall strategy

• Management Information: Providing ultimate quality assurance and sign-off of key P&L-related data and analysis to enhance and expedite performance measurement, resource allocation and decision making

• Projects: provide key input into the design, specification and implementation of systems and controls to enhance underlying departmental processes

• New Products, Complex Transactions and Businesses: Key involvement in the New Product Approval and product implementation processes, ensuring appropriate booking, valuation and reserve methodologies to meet business requirements

• External Reporting: Provide external auditors, regulators and other key stakeholders with financial information and evidence of sound management systems and controls

Specific Responsibilities

• Managing the reporting of daily and periodic profit and loss reporting including analysis via risk parameter attribution and strategy, along with detailed commentary of revenue drivers.

• Manage daily Profit and Loss (P&L) reporting, including detailed explanations of results and movements. Produce market commentary to provide insight into P&L fluctuations. Analyze and attribute P&L by risk factors such as rate delta, credit delta, time decay, and new deals.

• Develop and implement new processes and reconciliation methods to support business growth and scalability. Ensure accurate reconciliation of P&L and balance sheet across front-to-back operations.

• Monitor trades and positions on specific trading desks to identify discrepancies and maintain accuracy.Validate trader mark-to-market (MtM) valuations, ensuring they reflect fair value.Collaborate with internal departments to ensure compliance with policies and procedures.

• Assist in front office initiatives, providing analysis and support for key projects. Work with cross-functional teams to resolve issues efficiently and drive process improvements

• Assist in daily P&L reporting, ensuring accurate data entry and reconciliation.  Support market commentary efforts by helping analyze P&L fluctuations.  Contribute to risk attribution analysis, learning how to identify key risk drivers (rate delta, credit delta, time decay, etc.).  Assist in reconciling P&L and balance sheets, ensuring consistency across front-to-back operations.  Monitor trades and positions to help identify discrepancies and maintain accuracy.  

• Work with cross-functional teams to resolve reporting and data integrity issues.

• Computation and analysis of reserve requirements in respect of provisions and valuation adjustments, including periodic review of methodologies.

• Review (or where relevant completion of) balance sheet and trade population reconciliations to ensure completeness, existence & accuracy of valuations.

• Providing management or financial information to relevant governance forums or as part of head office reporting packages.

• Identification, escalation and resolution of issues regarding Product Control and related activities.

• Maintaining and enhancing good working relationships with stakeholders, including business and control / infrastructure teams globally.

• Participation in projects and system enhancements as required, ensuring effective control and continuous process improvement.

• Ensure adherence to Product Control and Finance Policies and Procedures as well as to relevant regulatory requirements and accounting standards.

• Documentation of control activities and methodologies undertaken in respect of the above responsibilities to a sufficient standard to ensure handover of tasks and auditability of results and including the management of operational risks.

• Conduct analysis in support of the Product Control and Finance functions, whether through additional ad hoc tasks or presentation of written materials.

Job Requirements:

Skills and Experience:

• Good working knowledge of Microsoft Office

• Good written and verbal skills

• Excellent communication skills

• Excellent interpersonal and functional management skills

• Results driven, with a strong sense of accountability

• A proactive, motivated approach.

• The ability to operate with urgency and prioritize work accordingly

• Strong decision making skills, the ability to demonstrate sound judgement

• A structured and logical approach to work

• Strong problem solving skills

• A creative and innovative approach to work

• Excellent attention to detail and accuracy

• A calm approach, with the ability to perform well in a pressurized environment

Qualifications:

• Experience of working in financial closing and reporting teams or a big 4 accounting firm practice, preferably with product control focus.

Performance and Duties:

• The role holder will be assessed in accordance with their employing entity’s performance framework and process with relevant input obtained from the dual hatting entity as relevant.

• As duties and responsibilities change, the job description will be reviewed and emended in consultation with the role holder. The role holder will carry out other duties as are within the scope, spirit and purpose of the role as requested by their line manager or Department Head.

• Managing conflicts of interest/dual hat status (If Applicable) - The role holder will have responsibilities for both MUFG Bank and MUFG Securities EMEA plc. Additionally, the candidate may be required to manage Finance Function for the rest of EMEA region

• The role holder will be required to perform their duties and responsibilities on an entity neutral basis, without favor.

• The role holder is required to follow regulatory requirements applicable to ensure each business is appropriately supported and to maintain the legal entity integrity of each of MUFG Bank and MUFG Securities.

Mitsubishi UFJ Financial Group (MUFG) is an equal opportunity employer. We view our employees as our key assets as they are fundamental to our long-term growth and success. MUFG is committed to hiring based on merit and organsational fit, regardless of race, religion or gender.