Reference : NA00964
Publication date : 04/10/2019
Company : Natixis North America
Country : United States
Region : New York
Contract : Permanent
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d'Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE's networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of 11.8 billion, a Basel 3 CET1 Ratio(1) of 10.8 % and quality long-term ratings (Standard & Poor's: A+ / Moody's: A1 / Fitch Ratings: A+).
(1)Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in .
Figures as at December 31, 2018
The Product Controller will support multiple business lines and a wide range of products including loans, equities, derivatives, repos, and structured products. The role requires a good technical skill set with the ability to translate commercial business transactions to the correct accounting treatment followed up by adequate and appropriate substantiation of the balances.
Daily production of Balance Sheet Reconciliation and monitoring of key controls.
Monthly reconciliation of Finance to MARPL P&L.
Identification and resolution of balance sheet breaks between general ledger and sub-ledger systems.
Ensure data quality and integrity review of downstream Regulatory Reporting feeds.
Work closely with colleagues across the Business to utilize reconciliation tools and other control procedures to identify and resolve trade/position/P&L discrepancies in a timely manner. Escalate issues as necessary.
Preparation, posting and review of manual journal entries to clear daily balance sheet breaks as well as to close the books at period end.
Provide Account Certification of quarter-end general ledger balances.
Maintenance of the general ledger and mapping tables.
Specification of appropriate accounting rules in the sub-systems for new products to ensure proper postings to the general ledger.
Continuous update of Policy/Procedure documents for the Product Control group.
Develop, maintain and update front to back process and controls documentation covering data flow from trade capture through settlement. This includes development of process mapping or flow charts, as well as supporting policy and procedure initiatives.
Monitor control deficiencies and other areas of improvement, assess their severity, work with stakeholders, and propose effective control enhancements to prevent future re occurrence.
Actively work to reduce manual Journal Entries.
Implement effective process controls and process re-engineering to improve inefficiencies.
Participate in the interpretation and implementation of new regulatory requirements and accounting standards.
Ad hoc requests from internal business and other internal clients. This requires close liaison with Front Office, MARPL, Operations, and other trade support teams.
Provide support for any external or internal audit review and ensure coordination of timely, quality assured responses for regulatory and audit exams.
Participate in cross-functional training to ensure adequate coverage. Product Controller will be required to back-up, fill in, or otherwise support other team members in addition to participating in transverse projects.
Manage/participate in key cross-functional projects.
Strong interest in process improvement, automation, and system enhancement. Support and actively participate in key business initiatives by delivering substantive and meaningful contribution.
Identify, validate, and implement further strategic opportunities to enhance data quality. Communicating, monitoring and following up on key issues is critical. This requires close working relationships with Data Quality, Technology, Front Office, Operations, and other related Business Functions.
Generate Business Requirements and Test Cases and execute User Acceptance Testing to ensure new technology delivers functions as expected.
Overhaul manual reconciliation processes by simplifying and automating procedures, reducing spreadsheets, and developing clear and comprehensive supporting documentation that validate all balance sheet accounts.
Develop daily and monthly reporting analytics and provide relevant analyses and commentary to explain position/P&L changes.
Undergraduate degree in Accounting, Finance.
CPA and or CFA a plus, not required.
Minimum 5 years in the industry with previous product control experience
Strong accounting skills as well as knowledge of accounting standards (IFRS/US GAAP) and regulatory reporting.
Advanced MS Excel skills and high aptitude for learning new systems.
Solid understanding of financial products, experience with fixed income and structured products a plus.
Strong interpersonal (written and oral communication) skills.
Ability to use initiative and work efficiently.
Analytical and problem-solving skills and ability to draw up action plans.
High attention to detail and willingness to "roll-up sleeves" while maintaining a grasp of the "big picture".