ENO _Product Control
STR is a control & review over the consistency between the structured trade bookings in trade collection & risk management systems and the relevant obligations described in legal documentation for the most complex & high risk financial products at the bank. Failure to perform this control on a timely basis can result in the mis-statement of financial and risk information leading to potential economic loss, incorrect regulatory reporting and issues with client interactions. STRs aim to address the following concerns for complex transactions
- The overall client trade is adequately represented by the often complex structure of individual component parts booked in trading systems
- Appropriate valuation models are used
- Valuation adjustments are identified and reviewed for appropriateness
- All structures executed which have been subject to CS Risk Committee (Pre Trade Valuation & Risk Approval) or New Business initiative approvals
This role requires working full time on Structured Trade Reviews throughout the month. The tasks performed by this team cover all the regions.
- Ensure that STRs are completed within the policy timelines
- Resolve valuation booking errors identified or raise to managers for resolution on time
- Raise with model analytics group any queries regarding models or scripts
- Raise with Valuation Risk Group any queries regarding embedded valuation adjustments
- Where there are material errors or unrecorded elements of a transaction, inform supervisors and relevant departments e.g. Front Office, Middle Office, Operations, Business Control, model analysts, Legal etc.
- Inform your supervisor promptly of any reviews not completed within the review deadlines
- Liaise with meaningful areas e.g. Front Office, Legal and Operations, etc. to discuss implications of issues arising from reviews and required actions. Carry out necessary follow-ups to ensure all action points get cleared on a timely basis.
- You have inquisitive attitude to question any valuation which looks out of place
- You have accuracy and attention to detail to ensure controls are performed completely and correctly
- You have strong analytical skills
- You have expertise with Microsoft Excel
- You have deep understanding of financial derivatives and valuation principles
- You have strong communication skills