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| Deputy Head Rates Flow Product Control London |
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The Rates Flow function in London is a successful part of the global Rates trading business consistently delivering strong P&L performance. In recent years the business has grown outside of its traditional interest rate product base in the search for additional revenue growth.
The product categories covered by Rates Flow in London now include :
- EUR, GBP and Scandi interest rate swaps.
- Cross currency basis swaps and FX trading.
- EUR, GBP and CHF interest rate options.
- EUR and GBP government bonds and bond options.
- EUR, GBP and USD inflation swaps and options.
- Structured inflation trades.
Product Control is the key Front Office facing group within Finance at UBS, being responsible for P&L, Balance Sheet and valuation control in addition to partnering the business in new initiatives/projects. Due to business growth and the increasingly complex nature of the products/systems in the flow business, Rates BUC London is looking to recruit a Director as number two to oversee the current team of 11 Front Office facing BUCs (including 3 offshore in India).
In addition to management of the direct Product Control team, the successful candidate will also be responsible for overseeing the Operational Control team of 3 within the group which is responsible for control and analysis of key central processes such as inter/intracompany valuation differences, management v financial reporting policy adjustments and OTC contra revenue.
The successful candidate will assume prime responsibility for management of the day-to-day P&L process and the resolution of key Front Office issues as they arise. The supervisory role will also involve analysis and understanding of the desk’s products and systems in order to aid in the preparation of detailed commentaries on the trading performance of the desk and in order to provide input into parameter/price testing and model/liquidity reserving in conjunction with the Rates Valuation group. The role will also provide further technical challenges through review of the more structured trades/products on the books to ensure that they are reported in line with external accounting standards (e.g. EITF Day 1 P&L requirements, recognition of own credit in liability values).
Given the supervisory nature of the role in a more complex product area, the successful candidate will have a high degree of exposure with senior members of the Front Office. The supervisor will also be a key contact for other areas of the bank such as Market Risk, Credit Risk, Operations and the wider Finance group given Product Control’s central point within the Front-to-Back process.
Outside of the day-to-day control responsibilities of the Product and Operational Control teams, the role will also provide opportunities for involvement in ad hoc projects such as new business reviews, system implementations etc. providing opportunities to partner the business. |
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Bachelors
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10 years + |
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English : Speak / Write Fluently
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open-ended |
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unspecified |
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EU National |
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London |
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The successful candidate will have significant experience in an interest derivatives environment, ideally also with some exposure to inflation derivatives.
Through their previous role(s) the successful candidate will be able to demonstrate a strong technical understanding of interest rate products and the Front-to-Back trade lifecycle. In addition to having a sound base of technical knowledge, you will be looking to continually challenge yourself through exposure to new product areas and more complex trade structures.
Given the seniority of the role, the successful candidate will also be able to demonstrate a track record in successfully managing a high performing team. A key element of these management skills will be the ability to effectively coach more junior team members to ensure that technical product knowledge is gained throughout the team.
The successful candidate will be able to quickly form strong, credible relationships with key Front Office clients, representatives from other control functions and Operations and have the ability to close out difficult issues in a professional and efficient manner.
The level of the role also means that the successful candidate will be well placed to critically review existing processes and procedures. Proven success in identifying solutions to Finance system/process weaknesses would, therefore, be an advantage. |
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Headquartered in Zurich and Basel, UBS is a global firm providing financial services to private, corporate and institutional clients. UBS is present in all major financial centers and has offices in over 50 countries. |
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UBS
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