Product Control Director

SMBC Group; Jersey City (NJ); Hybrid; USD 179,000 - 220,000; Full time

Benefits offered by this job

Competitive portfolio of benefits

Job summary

A major global financial institution is seeking a Product Control Director to oversee P&L validation and reporting processes. The ideal candidate will have over 10 years of experience in financial services audit or capital markets advisory and will lead a team in enhancing financial infrastructure and maintaining a robust control framework. Strong knowledge of derivatives and a bachelor's degree in finance are required. This is a full-time hybrid position based in Jersey City, NJ.

Qualifications

• 10+ years of combined experience in financial services audit or capital markets advisory or fixed income product control.
• Experience in Rates business or xVA is an advantage.
• Working knowledge of product control processes and the trade lifecycle.
• Knowledge of derivatives and other financial instruments per US GAAP.

Responsibilities

• Manage P&L validation and reporting processes for interest rate and XVA desks.
• Enhance independent price verification framework for derivatives.
• Lead automation of P&L reporting templates.
• Monitor trading activity for accuracy of financial statements.
• Document new policies and procedures.

Skills

Financial services audit experience

Capital markets advisory

Fixed income product control

Derivatives knowledge

Leadership skills

Proficiency in Excel

Excellent documentation skills

Education

Bachelor's degree in accounting or finance

CPA, CFA, or FRM

Tools

Excel

Job description

Join to apply for the Product Control Director role at SMBC Group.

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

The anticipated salary range for this role is between $179,000.00 and $220,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

We are looking for an experienced finance professional to join the Product Control team responsible for daily P&L validation, attribution, reporting, price testing and other ad hoc analytical functions. We will trust this candidate to maintain a solid internal control framework around the entire trade lifecycle that assures the reliability, accuracy, and completeness of information for financial, regulatory, and management reporting. The successful candidate will be involved in internal controls, process efficiency, and finance transformation projects. The candidate will also document department-level policies and procedures and manage the EUC (End User Computing) control process for critical spreadsheets.

Responsibilities

• Manage the processes around daily P&L validation, explanation, and reporting for interest rate and XVA desks.
• Actively engage in the enhancement of the independent price verification framework for rates derivatives products and xVA.
• Lead creation/automation of templates and enhancing the controls around P&L reporting.
• Assist with transformation efforts to modernize the company’s financial infrastructure.
• Monitor trading activity for ad-hoc valuations and trade reserves and work with partners to ensure accuracy of financial statements.
• Document new policies and procedures.
• Review and manage Volcker Reporting requirements.

Qualifications And Skills

• 10+ years of combined experience in financial services audit or capital markets advisory or fixed income product control.
• Derivatives experience required. Experience in Rates business or xVA is an advantage.
• Bachelor’s degree in accounting or finance or equivalent field of study.
• CPA, CFA, or FRM is an advantage.
• Working knowledge of product control processes, trade lifecycle, and proper internal controls framework within capital markets fixed income or advisory.
• Knowledge of derivatives and other financial instruments per US GAAP.
• Leadership skills with proven ability to mentor and train junior staff.
• Proficiency in Excel, including working knowledge of advanced functions.
• Excellent documentation skills.
• Ability to work with big data and understand system architecture.

Ability to self‑learn and navigate through the company to get work done with minimal supervision.

Additional Requirements

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in‑office attendance for the entire workweek is required.

SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at [e-mail].

Seniority Level

Not Applicable

Employment Type

Full-time

Job Function

• Product Management and Marketing
• Banking, Financial Services, and IT Services and IT Consulting

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