Associate, Product Controller

ING Group; Singapore; On-site; SGD 70,000 - 90,000; Full time

Job summary

A leading financial institution in Singapore is seeking an Associate for its Product Control department. This role plays a critical part in daily P&L reporting, balance sheet substantiation, and providing insights into trading products' valuations. The ideal candidate has a Bachelor’s/Master’s degree and 3-5 years of experience in Financial Control or Risk Management with strong analytical and communication skills.

Qualifications

• Minimally 3-5 years of experience in Financial Control, Product Control or Risk Management.
• Good understanding of linear derivatives, credit trading and/or financing products.
• Strong understanding of P&L statements and balance sheets.
• Foundational understanding of process flows of products from trading systems to the ledger.

Responsibilities

• Prepare and validate timely, daily P&L reports, ensuring completeness and accuracy.
• Analyze and explain daily and monthly P&L movements and provide commentary on key drivers.
• Reconcile and report Front Office to General Ledger P&L.
• Investigate trade bookings to ensure accuracy for valuation and cash.
• Ensure P&L, Position, Trade issues are rectified or escalated.
• Assist in desk-related activities including reconciliations and calculations.
• Prepare agenda inputs for Independent Price Verification and final P&L reporting.
• Perform the Fair Value Hierarchy assessment.

Skills

Financial Control

Product Control

Risk Management

Analytical Skills

Communication Skills

VBA Knowledge

SQL Knowledge

Python Knowledge

Education

Bachelor’s/Master’s degree in finance, accountancy, or related fields

Job description

ING Wholesale Banking in Singapore

We began operating in Singapore in 1987 where we host the regional Asia Pacific headquarters. With over 300 financial experts, we are the largest wholesale banking branch in Asia. ING stands out in the Asia Pacific region because we go a step further for our customers. We look at things from the client’s perspective which allows us to construct tailor-made solutions to fit the needs of every company we serve. This mentality underpins all our client relations and has produced various prestigious awards.

Job Profile Summary

The Product Control department operates within the Finance function and is responsible for the daily measurement, control and assessment of ING’s balance sheet and profit and loss statements ensuring the accuracy and integrity of our financial reporting. Based in Singapore, this role is a key link at the intersection of Finance, Front Office, Market Risk and Operations across ING’s presence in Asia and connecting to the Amsterdam head office.

The Associate role plays a critical part in daily P&L reporting, balance sheet substantiation as well as providing insights into the valuation of a wide range of trading products within Financial Markets and Treasury. It includes the analysis and calculation of independent valuation adjustments as well as reserves.

This role covers the product control responsibilities for the Credit Trading and Global Securities Financing desks within Financial Markets that operate out of Singapore. The Associate, who is part of a team, has a joint responsibility to deliver on the quarterly requirements for reporting/control as well as system project rollouts and regulatory compliance projects involving their respective desk and asset class.

Job Responsibilities

• Daily P&L Production: Prepare and validate timely, daily P&L reports, ensuring completeness and accuracy.
• P&L Attribution: Analyze and explain daily and monthly P&L movements and provide commentary on key drivers.
• P&L Reconciliation: Reconcile and report Front Office to General Ledger P&L, NPV and cash reports in collaboration with centralized Expert Team.
• Trade Analysis & Review: Investigate trade bookings by front office staff to ensure accuracy for valuation and cash as well as monitor unusual activity and entries.
• Proactive Issue Resolution: Ensure P&L, Position, Trade issues, control and process breaks are rectified/explained or escalated.
• Month-End Closing Activities: Assist in desk-related activities, including reconciliations, calculation of reserves, independent price verification and relevant journal entries.
• Monthly Local (Desk) Parameter Committee: prepare agenda inputs to approve Independent Price Verification, Valuation Adjustments and final P&L reporting.
• Quarter-End Closing Activities: Perform the Fair Value Hierarchy assessment and support reporting into Global Parameter Committee.

Special duties & work environment

• Projects and System rollouts: Assist in system implementations and projects on the desk with a view on efficiency, correctness and completeness.
• One-off product and trade approval: support discussion and fact finding together with senior team members.
• Team Collaboration: Work closely with colleagues in Front Office, Market Risk, Operations & IT to ensure data accuracy and resolve issues, implement controls, and improve processes promptly.

What we're looking for:

• You have a Bachelor’s/Master’s degree in finance, accountancy, or related fields (Financial Engineering, Business, etc.)
• You have minimally 3-5 years of experience in Financial Control, Product Control or Risk Management.
• You have good understanding of linear derivatives, credit trading and/or financing products.
• You have strong understanding of P&L statements and balance sheets.
• You have foundational understanding of process flows of products from the front trading systems to the ledger.
• You have good VBA knowledge, with ability to work with existing code and encode/troubleshoot simple VBA/macros, basic SQL/Python knowledge is a plus.
• You have strong analytical skills and good communication skills.
• You bring a proactive mindset to work with a willingness to learn new products, processes and asset classes.