VP, Equity Derivatives Product Control

Madison-Davis; New York (NY); On-site; USD 180,000 - 190,000; Full time

Job summary

Madison-Davis, LLC is seeking a Vice President level Equity Derivatives Product Control professional to own daily P&L reporting, reconciliations, and front-to-back controls for a structured products trading business in New York. The role demands independent ownership from day one and deep knowledge of complex products such as autocallables and variance/volatility swaps.

The VP will lead P&L attribution, review Day 1 P&L, funding activity, and close processes, while partnering with Trading, Risk,

Responsibilities

• Own daily Product Control activities for an Equity Derivatives trading business.
• Perform daily P&L reporting, Flash-to-Actual analysis, reconciliations, and detailed P&L attribution.
• Analyze P&L drivers including volatility, correlation, skew, dividends, and higher-order Greeks.
• Review valuation adjustments, model reserves, Day 1 P&L, and manual adjustments.
• Support complex lifecycle events including barrier breaches, autocall observations, early terminations, and dividend adjustments.
• Partner with Trading, Market Risk, Operations, Treasury, IPV, Technology, and Financial Reporting teams.
• Review funding charges and assess the impact of collateral and margin requirements.
• Perform balance sheet substantiation, journal entries, and month-end close activities.
• Ensure controls and KRIs are maintained across Product Control.

Job description

ABOUT THE ROLE

A leading global financial services firm is seeking an experienced Vice President Equity Derivatives Product Control professional to support a trading business focused on structured products and exotic derivatives. This is a hands-on VP-level opportunity for an individual who can quickly understand the business, take ownership of the product control function, and operate independently from day one. The role will focus on daily P&L reporting and analysis, front-to-back reconciliations, P&L attribution, balance sheet controls, valuation adjustments, funding and financing activity, and month-end close. The successful candidate will have strong product knowledge across equity derivatives and structured products, including complex and path-dependent products such as autocallables, barriers, variance/volatility swaps, and bespoke payoffs. The position offers a target base salary of $180, 000 $190, 000, with flexibility potentially extending to approximately $200, 000 for an exceptional candidate, plus bonus eligibility. Candidates should currently be operating at the VP level;the role is not intended as a first-time VP promotion or as a position for candidates significantly above VP level.

RESPONSIBILITIES

• Own daily Product Control activities for an Equity Derivatives trading business.
• Perform daily P&L reporting, Flash-to-Actual analysis, reconciliations, and detailed P&L attribution.
• Analyze P&L drivers including volatility, correlation, skew, dividends, and higher-order Greeks.
• Review valuation adjustments, model reserves, Day 1 P&L, and manual adjustments.
• Support complex lifecycle events including barrier breaches, autocall observations, early terminations, and dividend adjustments.
• Partner closely with Trading, Market Risk, Operations, Treasury, IPV, Technology, and Financial Reporting teams.
• Review funding charges and assess the impact of collateral and margin requirements.
• Perform balance sheet substantiation, journal entries, and month-end close activities.
• Ensure appropriate controls and KRIs are maintained across the Product Control function.
• Identify opportunities to automate and improve P&L explain, reconciliation, and control processes.
• Conduct deal reviews and provide Product Control input on new and complex transactions.
• Lead and mentor junior team members while maintaining a hands-on role in the business.