The Central PC Controls team is accountable for delivery of the end-to-end FM P&L (Financial Markets) product & valuation control functions in GBS and lead different strategic initiatives for FM PC.

The Head of Central PC Controls works closely with the Business Line PC across FM Macro, GBS and the PC senior management team in Bangalore & Singapore to deliver the objectives of the function.

Financial Controls

• Responsible for the effective application of accounting and financial control policies and procedures for Global Financial Markets.  Help FM 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
• Work with the regional CFOs to ensure that the interfaces between FM transaction booking systems and country level accounting and regulatory reporting infrastructure are properly maintained and controlled.

New Products & Business Partnering

• Supporting the introduction of new controls within FM 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.
• Regulatory & Audit Engagement: Leading PC Financial Markets engagement with Global and Regional Regulators and Statutory and Internal Auditors supporting all PC related queries, questionnaires, and audits.

Controls

• Develop and maintain appropriate policies and procedures which ensure the accounting, management and financial reporting integrity of the Macro 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.

Balance Sheet Reconciliation and Substantiation

• 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 FM 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.

Strategic Initiatives

• Provide thought leadership and take accountability from Bangalore on different initiatives spanning – Technology (SABRE, Aspire, Razor, Stride), Regulatory (IBOR, ViR ) & Legal Entity Controls ( Emerald, Rubik )

Technical Competencies

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 mind-set
• Strong Product knowledge at across the core business products.
• Strong interpersonal, communication (verbal and written) and negotiating skills.