Senior Officer (1-Year Contract), Group Risk Management - Product Control & Governance
United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. In Asia, we operate through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia and Thailand, as well as branches and offices.
Our history spans more than 80 years. Over this time, we have been guided by our values â€” Honorable, Enterprising, United and Committed. This means we always strive to do what is right, build for the future, work as one team and pursue long-term success. It is how we work, consistently, be it towards the company, our colleagues or our customers.
About the Department
The Credit and Risk Management function is comprised of three teams: Risk Management, Credit and Special Asset Management. We manage the risks arising from the Groupâ€™s business activities within the risk appetite established by the Board. This involves identifying and evaluating the risks, developing effective risk governance and strategies as well as providing independent assessment of the overall risk profile.
Product Control and Governance is the function in Group Risk Management responsible for P&L Reporting and Attribution, P&L Reconciliations, Valuation Controls, Market Data & Book Controls and Structured Products governance.
This role is responsible for furnishing accurate and timing P&L reporting to the Global Markets business, covering the Market Making and Structuring desks.
- Provide daily P&L reporting to the Trading desks, furnish with the P&L commentary.
- Reconcile daily P&L to the Traderâ€™s estimate and explain any P&L variance beyond the threshold.
- Perform daily P&L attribution process to explain the drivers of P&L movements.
- Conduct P&L stop-loss monitoring to ensure there is no breach against the approved threshold.
- Monitor daily option event, check to ensure underlying trade has been created post option exercised.
- Support new product rollout, to involve in the review and update any changes to the existing workflow.
- Compute month-end reserve and provide figures to post into the ledger.
- On a monthly basis, to reconcile the P&L against output from the ledger and explain the P&L differences.Â Post reconciliation, to make adjustment to the reported P&L or ledger where necessary.
- A degree or professional qualification in accounting, business, or related fields;
- Must possess at least 2 - 3 years of experience working in the Finance industry, preferably in Product Control area.
- Possess an understanding of the global market products including rates, fixed income, FX and other derivatives.
- Ability to articulate and escalate issue promptly for resolution.
- A good team player.
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United Overseas Bank Ltd (UOB)