Lead Product Control & IPV — Derivatives

Clear Street; New York (NY); On-site; USD 160,000 - 225,000; Full time

Benefits offered by this job

401k matching

Medical, dental, vision insurance

Lunch stipends

In-office perks and amenities

Job summary

Clear Street is seeking a seasoned Product Control Lead to design and build the firm's product control function from the ground up. You will own IPV, daily P&L, and governance across diverse asset classes, partnering with Finance, Trading, Risk, Operations and Technology.

You will build a lean team, define controls, and scale as the business grows, with strong emphasis on OTC derivatives and regulatory reporting. Flat structure and hands-on leadership expected.

Qualifications

• 10+ years in product control, financial control, or valuation at broker-dealer/investment bank.
• Experience building or significantly scaling Product Control/IPV function.
• Deep expertise in OTC derivatives product control: equity swaps, TRS, variance swaps, credit derivatives, rates, FX.
• Prior exposure to CFTC-regulated entities strongly preferred.
• Experience across equities, options, futures, prime brokerage, securities financing, and cleared derivatives.
• Crypto asset experience a meaningful plus.

Responsibilities

• Design and implement the firm's end-to-end Product Control function, including policies, procedures, controls framework and governance.
• Establish the IPV framework across asset classes: equities, options, futures, fixed income, OTC derivatives, crypto.
• Define escalation protocols, P&L threshold tolerances, and price challenge procedures with Risk and Trading.
• Partner with Technology to scope and implement a fit-for-purpose product control platform.
• Build the team over time, defining roles and hiring as business complexity warrants.
• Own daily P&L production, attribution, and sign-off across all books.
• Oversee P&L validation and disputes with traders; ensure accurate trade capture.
• Support month-end close and balance sheet substantiation with Accounting.
• Develop price testing tolerance grids and escalation matrices with Risk/CFO.
• Maintain and audit valuation methodologies for asset classes (OTC & hard-to-price).
• Work with Legal/Compliance/Risk on reporting and regulatory requirements.
• Help build SBSD/OTC Swap Dealer infrastructure from a product control perspective.
• Drive automation of manual controls with Technology.

Skills

OTC derivatives

Pricing & valuations

P/L attribution

GAAP ASC 820

Leadership

Cross-functional collaboration

Excel

Vendor pricing data

Tools

Bloomberg

Refinitiv/Reuters

Markit/IHS

SuperDerivatives

Job description

Clear Street is seeking a seasoned Product Control Lead to design and build the firm's product control function from the ground up. You will own IPV, daily P&L, and governance across diverse asset classes, partnering with Finance, Trading, Risk, Operations and Technology.

You will build a lean team, define controls, and scale as the business grows, with strong emphasis on OTC derivatives and regulatory reporting. Flat structure and hands-on leadership expected.