Product Controller - Associate

Caxton Associates; Bengaluru; On-site; INR 10,00,000 - 15,00,000; Full time

Job summary

A global hedge fund is seeking an Associate-level Product Controller in Bangalore. This role focuses on Interest Rate Derivatives, particularly IRS and Swaptions, involving daily P&L analysis, pricing verification, and interaction with Portfolio Managers. Candidates should have 3+ years in valuation roles with strong technical knowledge and be familiar with tools like Bloomberg. The role also emphasizes process improvements and operational efficiency, offering a dynamic work environment with growth opportunities.

Qualifications

• 3+ years of experience in Product Control / IPV / Valuation within a hedge fund, asset manager, or investment bank.
• Strong technical knowledge of Interest Rate Derivatives, particularly IRS and Swaptions.
• Proficiency with market data and valuation tools.

Responsibilities

• Own and explain daily P&L, providing clear attribution and analysis.
• Perform Independent Price Verification (IPV) using internal models and third-party sources.
• Execute and review key daily, weekly, and monthly controls.

Skills

Interest Rate Derivatives

Valuation methodologies

Independent Price Verification (IPV)

Market data proficiency

Risk sensitivity analysis

Education

CA, CFA, or MBA (Finance)

Tools

Bloomberg

Job description

Role Title: Product Controller

Location: Bangalore

About Caxton Associates :

Caxton Associates LLP is a global hedge fund headquartered in London, with offices in New York, Singapore, Monaco, and Dubai, founded in 1983. Our expertise spans multiple asset classes and geographies, supported by world-class infrastructure and a commitment to industry best practice. We currently have approximately 170 staff and are establishing a new office in Bangalore and as part of our continued growth.

The Role :

We are seeking an Associate-level Product Controller to join our Bangalore office, with a strong focus on Interest Rate Derivatives, particularly Interest Rate Swaps (IRS) and Swaptions. The successful candidate will work closely with Portfolio Managers, Trading, Operations, and Risk teams globally to explain P&L drivers, ensure robust valuation controls, and support the continued enhancement of Caxton’s operating and control framework.

This role offers exposure to complex derivatives, direct interaction with investment teams, and opportunities to contribute to process automation and technology initiatives.

Responsibilities:

• Own and explain daily P&L, providing clear attribution and analysis; act as a key point of contact for Portfolio Managers, including as primary coverage for the Dubai and Singapore offices, and support the wider Product Control team on P&L-related queries.
• Perform Independent Price Verification (IPV) using internal models and third-party sources (e.g. Bloomberg, Citi Velocity), and resolve pricing discrepancies.
• Execute and review key daily, weekly, and monthly controls, including position and valuation reconciliations with the fund administrator.
• Partner with Portfolio Managers, Operations, Risk, Quant, and Finance teams to investigate and resolve booking, valuation, and P&L issues.
• Support process improvements and technology initiatives to enhance valuation accuracy, controls, and operational efficiency.

Experience

• 3+ years of experience in Product Control / IPV / Valuation within a hedge fund, asset manager, or investment bank.
• Strong technical knowledge of Interest Rate Derivatives, particularly IRS and Swaptions, including valuation methodologies, risk sensitivities and P&L attribution.
• Strong understanding of yield curves and volatility surfaces, and model-based pricing for rates products.
• Proficiency with market data and valuation tools such as Bloomberg (or equivalent).
• Strong academic background: CA, CFA, or MBA (Finance) preferred.

Caxton Associates is an Equal Opportunity Employer. We respect and seek to empower each individual and support the diverse cultures, perspectives, skills and experiences within our workforce.