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Commodities Product Control Trainee

Company: SG CIB    Location: London
Environment

People join for the impact they can have on us. They stay for the impact we have on them. A flatter structure offers visibility and exposure beyond that of our competitors, so you know our names, and we know yours. It´s personable, human, and inspires success through passion. By encouraging open mindedness and a willingness to share ideas, we have adapted to market changes and thrived through innovation. Bringing words like hard work and dedication together with community and respect has enabled us to work collaboratively and build our future together. We call this Team Spirit and it´s what makes us different. It´s what makes you different

Mission

Description of the Business Line or Department

Role is within the Product Control Commodities team focusing on the Commodities business lines.

Product Control departments mission statement is:
  • Production, analysis, certification, consolidation and reporting of all financial data, P&L, balance sheet and off-balance sheet
  • Financial analysis monitoring of the MARK/CTY client axis
  • Contribute to ad-hoc requests from business lines
  • Maintenance and quality control of market data referential related to CTY and agency business
Summary of the key purposes of the role

  • Assist Product Control team in production and analysis of financial data, P&L, balance sheet and off-balance sheet
  • Build relationships with key stakeholders across the business
  • Assist with daily and month end BAU tasks and challenge existing processes where possible
Summary of responsibilities

1. Production of Daily P&L

  • Perform and compute the daily profit and loss, confirming this information with the front office,
  • Resolution of any risks and issues arising from the production of the daily P&Ls,
  • Maintain, and where appropriate, develop an independent daily P&L verification process which incorporates validation of trading results,
  • Daily monitoring of all exposure impacting the business as a result of the trading activity, and working with key business areas, risk and operations to ensure exposure and risk is appropriately monitored and managed,
  • Ensure documentation of all procedures relating to daily reporting and control processes are kept up-to-date.
2. Production of Monthly P&L

Confirm and validate the monthly P&L in the general ledger, making necessary adjustments, and performing analysis of any unusual items,

Perform the reconciliation of the Daily P&L to the Month end P&L, providing reporting on any differences,

Ensure any reconciling items are fully understood, and where appropriate, engaging with other areas of the firm, to ensure firm-wide understanding and agreement of the end to end across the front office and back office systems.

3. Balance Sheet Reconciliations and associated Substantiation

Ensure all relevant balance sheet accounts are appropriately reconciled. Any issues arising from these reconciliations need to be addressed and escalated in case of any potential misreporting or risk,

Ensure any reconciling items are fully understood, and where appropriate, engaging with other areas of the firm, to ensure firm-wide understanding and agreement of the end to end across the front office and back office systems.

4. Automation / Process Improvements

Maintain, and where appropriate, develop automation for existing processes and ensure that appropriate controls are incorporated within any change being made, whether in the Run-the-firm or Change-the-firm space. Many processes contain room for automation and improvement, whilst other reporting processes are still being developed and need further enhancements.

5. Assistance with other Product Control areas

There will be both the opportunity and the need to assist the other Product Control areas, ranging from daily cover to working together on developing harmonised processes. Ensure active involvement across the teams.

Operational Risk & Regulatory Responsibilities

6. Responsibility for ensuring that you are fully aware of and adhere to internal Policies that relate to you, your business or other businesses for which you have any level of responsibility. It is your responsibility to ensure compliance with operational risk requirements (e.g. Golden rules, security policies and regulatory requirements).

7. Responsibility for managing, controlling, preparing and escalating risk within the scope of your position.

8. Responsibility for reading, understanding and complying with the Companys Conduct and Standards and corresponding regulations. You will be notified of changes to policies in a timely manner through announcements and/or intranet updates.

9. Act with integrity and due skill, care and diligence in carrying out your duties. Your actions should always be able to satisfy high standards of scrutiny.

10. Observe proper standards of market conduct. Responsibility to ensure that you take reasonable steps to be fully aware of, understand and comply with all regulatory requirements from all regulatory bodies that are applicable to your business.

Profile

Competencies

1. A successful candidate Would have experience in P&L, Accounting and/or Risk control, either within the brokerage industry or investment banking.

2. A strong understanding of financial derivative products, associated risks as well as corresponding accounting schemes.

3. An understanding of the Agency business trade life cycle and good front to back knowledge of how a trade flows through the systems

4. Systems knowledge should include a solid use and understanding of Excel (macros, pivot tables) and a knowledge of Access would be an advantage

5. Knowledge of Commodities products would be a plus

6. Due to the high level of communication with Front-Office, OPER, ITEC and Finance and other MACC teams, strong relational skills and very good oral communication are essential.

7. Team spirit is also key to have all the actors working hand in hand in the same direction.

8. Strong written skills are also essential as the position will regularly requires the production of memos and presentations.

9. Step back and synthesis capacities are also key assets to be able to have high level discussions with the management.

10. Proactivity in identifying the dependencies and blocking points across the different processes, projects or initiatives.

If you feel you have the required experience and qualifications, then please apply to the SG Resourcing Team, and we will manage your application. At Societe Generale, we believe our people are our strength and are core to the success of our business. As such, we search for, recruit and appoint the best available person on the basis of aptitude and ability, regardless of sex, marital or civil partnership status, race, colour, nationality, ethnic or national origins, pregnancy, disability, age, sexual orientation, religion, belief or gender reassignment.