Product Control (Derivatives) Director

SMBC Bank International plc; Greater London; Hybrid; GBP 85,000 - 110,000; Full time

Job summary

A prominent international banking institution in Greater London is seeking a senior professional to lead the Product Control function for derivatives. This role focuses on valuations, booking models, and implementing a robust control framework. The ideal candidate will have extensive experience in Product Control and investment banking, alongside strong leadership and communication skills. This position offers a competitive benefits package and flexible working arrangements.

Benefits

Hybrid and flexible working

Private medical insurance

Career development opportunities

Competitive paid leave days

Diversity and inclusion initiatives

Qualifications

• 10 years of relevant experience in Product Control or Investment Banking.
• Deep understanding of investment banking products, especially derivatives.
• Ability to present complex issues clearly.

Responsibilities

• Define and execute the Product Control strategy.
• Liaise between Finance, Risk, and Front Office teams.
• Oversee new product reviews and ensure consistency.

Skills

Technical accounting knowledge

Product Control expertise

Investment Banking knowledge

Teamwork

Effective relationship building

Job description

Who we are

United by a sense of purpose towards our customers—to be a trusted partner for the long‑term—and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award‑winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

This is a newly established role to lead the Product Control function for derivative products within EMEA Finance, with a focus on valuations, XVA, and booking models.

The role is instrumental in defining and executing the Product Control strategy through a Centre of Excellence model, embedding a robust end‑to‑end control framework to support the region's expanding derivatives capabilities. It ensures alignment with industry best practices and regulatory expectations, while maintaining a strong governance structure.

The role also drives operational efficiency and consistency in control standards across Sales & Trading businesses. It supports the implementation of new derivative products, ensuring accurate valuation and booking practices, and contributes to the continuous enhancement of control processes. The specialist will act as a key liaison between Finance, Risk, and Front Office teams, ensuring that SMBC remains agile and compliant in a dynamic market environment.

Business Area

• The EMEA region comprises a number of SMBC branches, and separate legal entities based in London and Frankfurt
• This is a role within the Product Control team and has responsibility for EMEA‑wide collaboration.
• As the Sales & Trading businesses in the region expand, there is a requirement to grow the Product Control capability within the team to support the Bank's control environment

Key Stakeholders

• Chief Financial Officer & Head of Finance
• Head of Financial Control
• Front Office / Functional leads
• EMEA Finance team colleagues

Position Description

• Main interfaces/relationships: Front‑office departments, Finance, Risk, Operations and Planning areas across the EMEA region.
• Subject matter expert on product control of derivative products, including valuation, PnL explain, IPV and reserves methodologies and XVA
• Oversee the Product Control involvement in regional New Product reviews, ensuring consistency and quality of reviews and appropriate control and testing discipline
• Assessment and of current state capability and defining a strategic and sustainable operating model to support a scaling business
• Creation of roadmap and project management to support delivery
• Proactive horizon scanning for the Product Control are including governance updates
• Ad‑hoc support to key projects with significant accounting / product involvement
• Develop strong cross‑functional relationships and maintain a robust network across Finance and Front Office teams, confidently engaging with stakeholders to understand and respond to evolving business requirements
• Ability to design, implement, and embed control processes into core business activities, ensuring they are sustainable and integrated into business‑as‑usual operations
• Share relevant knowledge proactively across EMEA teams, including insights from horizon scanning and industry best practices related to Product Control Take ownership of evolving the operating model for Product Control - aligning with strategic direction of Sales and Trading business areas
• Assess systems capability and collaborate with Change and IT colleagues in addressing areas for enhancement
• Drive core financial control principles in Product Control and standardise outputs across business lines
• Identify areas for greater alignment across the EMEA region and collaborate with other parts of the SMBC Group to leverage systems and best practice
• Drive process efficiency within the team, identify opportunities for automation and system enhancements and drive delivery

Relevant Skills & Experience

• Strong technical accounting and Product Control knowledge and ability (c10 years of relevant experience in Product Control / Investment Banking)
• Deep understanding of range of Investment Banking Products with focus on derivatives
• Impactful presentation of complex issues
• Ability to clearly articulate risks and benefits of different approaches, and contribute to generating outcomes that are commercial with strong controls
• Ability to pro‑actively work through problems and engage others as required
• Able to work with and build effective relationships with a range of business functions

Management skills

• Teamwork: Positively support team to achieve goals
• Control: Able to identify key risks and control activities in Banking environment
• Training: Respect the various skills and experiences and give appropriate guidance individually

Leadership skills

• Vision: Show clear vision to lead the group and Finance team as well.
• Diversity: Respect individual values, and generate new idea by the different set of values

Competencies

Customer Focus
Driving Change
Driving Results
Embraces Diversity
Enterprise Leadership
Judgement and Decision Making
Risk Management
Strategic and Visionary
Trust and Integrity

What we offer

For all the expertise and experience you bring to help us make a difference, it's only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well‑bring and work‑life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

• Hybrid and flexible working
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services
• Access a wide range of learning and development opportunities and career progression opportunities
• Ambitious remuneration package

We recognise our role

We recognise our role as a bank to support social change and welcome all applications, including those from groups often under‑represented in financial services. We value the uniqueness of professional and personal backgrounds and perspectives as they play a vital role in continuing the sustainable growth of our organisation. We'll ensure reasonable adjustments to our recruitment process are offered due to a disability or long‑term condition whenever requested.

About SMBC

A trusted partner for the long term
United by a sense of purpose towards our customers—to be a trusted partner for the long‑term—and our universal banking platform in EMEA, we deliver a full suite of corporate finance products and solutions to our customers, including corporate, structured and trade finance, leveraged finance, loan market and treasury products. We can also provide investment banking and advisory services and a range of innovative solutions in global capital markets.
Find out more about what we do and who we are at https://www.smbcgroup.com/emea/careers