Product Control Analyst London, England
Job description
Marex is a diversified global financial services platform, providing essential liquidity, market access and infrastructure services to clients in the commodities, energy and financial markets.
The Group provides comprehensive coverage across five core services: Market Making, Execution & Clearing, Hedging & Investment Solutions, Price Discovery and Data & Advisory. It has a leading franchise in many major metals, energy and agricultural products, executing around 38 million trades and clearing over 193 million contracts in 2021. The Group provides access to the world's major commodity markets, covering a broad range of clients that include some of the largest commodity producers, consumers and traders. Marex maintains a strong balance sheet with prudent capital and liquidity positions and has an investment grade credit rating.
Marex was established in 2005 but through its subsidiaries can trace its roots in the commodity markets back almost 100 years. Headquartered in London with 29 offices worldwide, the Group has over 1,600 employees across Europe, Asia and the Americas.
For more information visit www.marex.com (http://www.marex.com)
Product control is primarily responsible for producing daily P&L and balance sheet for broking and trading desks. This role will be supporting the team in control and reporting activities of our Europe and North America Broker Dealer business and take part in process improvement initiatives. The candidate will initially take responsibility for the European business and eventually become responsible for the global business. The candidate will also help the wider product control and share responsibilities.
Responsibilities:
- Ownership of P&L, related controls, month end close processes for brokerage business. This includes controls around cost of trades, desk bonuses and analysis of expenses.
- Assist wider product control team with daily P&L production the responsibility for which rotates among the team members.
- Preparation of bonus calculations for brokers, getting agreement with the desks and senior management and submission to HR by due dates.
- Responsible for front to back view of controls and completion of month-end balance sheet substantiation and explaining movements.
- Production periodic MI and commentaries for senior management.
- Drive improvements agenda to the control infrastructure and Ad-hoc projects that arise relating to further streamlining of existing systems or assisting in the implementation of new systems.
- Onboard new desks and facilitate desk changes from product control perspective.
- Liaise with desks heads, risk, middle office and back office to resolve trade exceptions and business reporting.
- Understand the brokerage business's entity structure and resulting transfer pricing (TP) arrangement and be able to explain pre and post TP entity level results.
Skills & Experience:
- Professional accounting qualification with at least 2 years' post qualification experience in financial services
- High attention to detail and excellent analytical skills
- Ability to challenge status quo, think outside the box and continuously improve/automate processes
- Strong communication skills - ability to articulate P&L and balance sheet movements/drivers to senior management and ability to deal with the front office
- High self-motivation and the ability to work both independently and as an effective team member
- Intermediate Excel skills as a minimum
If you're forging a career in this area and are looking for your next step, get in touch!
Marex is fully committed to the elimination of unlawful or unfair discrimination and values the differences that a diverse workforce brings to the company.
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