The Product Control GBS is accountable for delivery of the end-to-end product and valuation control functions in GBS and lead different strategic initiatives for respective asset class.

The role will work closely with the PC senior management team in Bangalore and Singapore to deliver the objectives of the function.

Responsible for the effective application of accounting and financial control policies and procedures for respective asset class. Help business to ensure that specific financial risks inherent in the processes involving complex derivative and other traded products are identified, monitored, controlled, and mitigated in a timely manner by developing and maintaining a product and valuation control function which meets the requirements of best practices in relation to the pricing, valuation, prudential valuation, stress testing and accurate P&L reporting of such products.

Business

• Supporting the introduction of new products within respective business’s and related pre and post execution governance.
• Providing insight with respect to structural and/or system changes and future business expansion/changes and their impact on business performance.

Processes

• Develop and execute appropriate procedures for Balance Sheet Reconciliation and Substantiation. Balance Sheet Substantiation includes multiple processes including reconciliation (at a transactional or at a balance level) of the account, a process of review of the reconciliation and any pertinent supporting documentation and a formal certification (sign-off) of the account in a predetermined form driven by corporate policy.

People and Talent

• To lead, inspire and motivate the respective business’s product and valuation control teams ensuring that everyone achieves their potential and that the team delivers its collective agenda.
• Lead through example and build the appropriate culture and values.
• Set appropriate tone and expectations from the team and work in collaboration with risk and control partners across the organization.
• Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
• Employ, engage and retain high quality people, with succession planning for critical roles.
• Responsibility to review team structure / capacity plans.
• Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.

Governance

• Develop and maintain appropriate policies and procedures which ensure the accounting, management and financial reporting integrity of the trading desks’ balance sheet and P&L.
• Responsible for designing, building and maintaining a robust control environment in respect of daily P&L reporting, P&L attribution and balance sheet substantiation
• Research market best practices and keep abreast of the evolving issues that affect the valuation of the FM business.
• Supporting the introduction of new products within businesses and related pre and post execution governance.
• Independently assess the valuation and associated uncertainty of all assets and liabilities within the respective businesses, specifically continuing the evolution and ensuring the integrity of the IPV and Fair Value reserving processes. Design, implement and maintain policies and procedures for model risk, calibration risk and implementation risk reserving.
• Design, develop and evolve the methodologies to optimise the Prudential Valuation and stress Prudential Valuation framework.
• Providing insight with respect to structural and/or system changes and future business expansion/changes and their impact on business performance

Regulatory and Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Lead the CPBB T&I Client Enablement, Statements and Advices to achieve the outcomes set out in the Bank’s Conduct Principles: The Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders

• Regular face off with Traders, Product Control Management, Regional finance team and various internal stakeholders within GFS.
• Act as a point of reference for team members and internal clients.
• Manage relationship with internal stakeholders, take regular feedback, anticipate and understand issues and escalate appropriately for timely resolution.
• Manage strong relationship with support teams (IT, Operations and Risk) and bring synergies by interacting and integrating with cross functional teams.

Our Ideal Candidate

• Given the breadth of areas the role covers, it requires a high proficiency in a wide variety of topics, including
• Strong knowledge of accounting rules
• Strong quantitative analytical skills and understanding of financial modelling
• Strong Control mindset
• Strong Product knowledge at across the core business products
• Strong interpersonal, communication (verbal and written) and negotiating skills

Role Specific Technical Competencies

• Manage Conduct
• Manage Risk
• Manage People
• External Reporting
• Risks and Controls
• Performance Management
• Balance Sheet Management
• Tax Management
• Regulatory and Compliance