Business Finance Officers (BFO) are responsible for ensuring complete, accurate and timely P+L and Balance Sheets by reconciling daily Front Office produced US GAAP P&L to the Firm’s Books & Records and executing on the Daily, Monthly and Quarterly analytical aspects of Product Control's primary role as the financial guardians of the Bank's sales and trading activities. BFO provide five core Product Control services:
1) Front office P&L reconciliation to Books & Records
2) Act as the primary Front-To-Back PC relationship managers
3) Perform analytical reviews of the Trading P&L and Balance Sheets
4) Valuation Governance and Accounting Consultation
5) Perform analytical reviews of New Business P&L and trade bookings
BFO need to understand significant P&L items including: Production Issues, Red Flags, Significant & Aged Adjustments, Exceptions breaching pre-determined thresholds, Unauthorised Trading and Cancel and Correct Escalation.
BFO need to understand the handoff processes received from Valuation Risk Control (VRC) to ensure independent price verification and other valuation matters are taken into consideration
Specific to this role:
- Primarily focus on FX and macro hedging business traded in APAC.
- Working closely with Pune BFO team from Singapore as well as monitor and understand their metric.
- Review and approve Pre Trades request
- Work experience of 10+ years in Financial industry
- Good understanding of financial products and core Product Control processes
- Must be highly attentive to risk and the importance of a strong control environment and show a high attention to detail in all aspects of their work.
- Require highly developed analytic, interpersonal and communication skills to enable them to develop relationships with their key clients and to understand and address their issues