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Job Title Product Controller
Opening Date 04-May-2021
Closing Date 31-May-2021
Location London
Description

Capula are looking for 2 Product Controllers to join our team in our London office.

Overall purpose of the job:

  • To review, reconcile, and prepare trading P&L reports for one or more funds on a daily basis.
  • To have a full understanding of the P&L, and what is driving daily moves, including cash and risk based attribution
  • To fully understand the processes, calculations, rules, and data used in the P&L and NAV processes of the investment manager, its funds, and its Administrators
  • To maintain a strong working relationship with Trading, Treasury, Risk, and Operations
  • To support systems and processes improvement on the desk working in close partnership with Technology
  • To support Finance, Compliance, Investor Relations, and Audit with tax, regulatory and client reporting
  • To support annual fund audits, working with external counterparties
  • To support change and new business initiatives by writing requirements, testing, and implementation.

Duties:

PnL and NAV Production

  • Daily production and verification of Trading P&L using Internal, Administrator, and Risk-based systems
  • Explanation of P&L to the front office, with investigation and reporting of variances to the P&L with valid explanations
  • Calculation of funding, brokerage, interest charges, other accruals, etc.
  • Daily production of the Fund NAV and share class level return information.
  • Monthly reconciliation of Trading books P/L with the Administrator.
  • Monthly NAV and PnL reconciliation of the Fund internal return estimate with the Administrator.
  • Dealing with requests and queries from internal and external clients (Trading, Operations, Auditors, Investors, Regulators, etc.)

Change Initiatives

  • Propose ideas to improve the operating environment and infrastructure of Product Control
  • Support the creation of business requirements document (BRDs) which explain requirements to Technology for development
  • Test and implement new tools, systems and process into business as usual
  • Collaborate across Capula on change
  • Support new business proposals (funds, products, counterparties, etc.)

Tax, Regulatory and Client Reporting

  • Review and challenge administrators' regulatory reports (PF, PQR and Annex IV) on a quarterly basis.
  • Prepare ad hoc and regular reporting for individual clients where requested by Investor Relations
  • Support the annual fund audit and SOC1 reporting, working with external firms
  • Prepare the Total Expense Ratio of the funds on an annual basis

Overall

  • Maintain a robust risk and control frame work around all deliverables
  • Maintain current procedures documents across all BAU activities
  • Communicate effectively across the organization
  • Maintain professional relationships with all counterparties, most notably the Administrator
  • Education, Qualification, Experience and Skills

Education and Qualifications

Bachelors or Master's Degree in a quantitative (statistics, economics, mathematics), physics, engineering, or computer science discipline with a strong interest in financial markets and information systems

Experience

  • Up to 5 years' previous experience performing a Trading, Independent Price Verification, Market Risk, or Product Control Role (buy-side or sell-side)
  • Prior experience working with a Hedge Fund or Investment Management company is preferred but not essential
  • Experience working with traders and risk managers
  • Experience implementing technology change initiatives while performing daily BAU responsibilities

Skills

  • Excellent quantitative and analytical skills accompanied by critical thinking and intellectual curiosity
  • Numerate, product pricing knowledge, ideally of listed and OTC fixed income, credit, and equity products
  • Understanding of relative value trading and strategies including basis trades, spread trades, and box trades
  • Understanding of concepts like Yield Curve, Forward rates, discounting etc.
  • Demonstrable experience communicating with and managing stakeholder expectations
  • Experience working with third-party Administrators (preferred)
  • Advanced Microsoft Excel skills, including modelling complex calculations
  • Coding skills are highly desirable (VBA, SQL, Python)
  • Outstanding interpersonal and communication skills
  • An interest in working in a highly dynamic environment
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