Banamex Product Control and Valuation Control

hace 5 meses

Ciudad de México Citi A tiempo completo

The Prod Ctrl Sr. Group Manager is a senior management level position responsible for accomplishing results through the management of a team or department in an effort to ensure the completeness, accuracy and integrity of the bank's books and records in coordination with the Finance team.The overall objective of this role is to drive efforts to control and support data integrity and general ledger reconciliation, profit attribution and new activity analysis, valuation control and product P&L and balance sheet reporting.

**Responsibilities**:

- Manage one or more teams through other managers
- Provide guidance for a variety of broad based and complex issues
- Develop new concepts and approaches to solving issues affecting the business/ geographic region or a major segment of it
- Manage the budget and planning, performance evaluations, career development, compensation, hiring, disciplinary actions and terminations
- Serve as an intergral member of the functional leadership team within a country/site location, job family, or line of business

**Qualifications**:

- 15+ years of experience in a related role
- In-depth experience related to Product Control and Capital Markets required
- Robust product knowledge of Loans, Letters of Credit, Leases, Derivatives and Cash Securities
- In-depth knowledge of Financial Accounting Standards Board (FASB) accounting rules for financial instruments

**Education**:

- Bachelor’s degree/University degree or equivalent experience
- Master’s degree preferred

**Banamex Product Control Director **is a position within the Controllers organization principally associated with Banamex Legacy Franchise. Its primary responsibility is to ensure sustainable controls are in place supporting the core activities of;
- Providing **financial reporting, analysis and commentary** for Banamex´s Legacy Franchise Volcker Desk and Corporate Treasury revenues and balance sheet
- Daily and monthly reporting of revenues, including commentary and analysis of revenue drivers
- Formal controls supporting the Group’s statutory Financial Reporting processes
- Ensuring **appropriate valuation of the traded inventory**, **and appropriate disclosures **in Group accounts
- Formal valuation controls to ensure inventory is valued in accordance with accounting fair value
- Citigroup-wide responsibility for Banamex Legacy Franchise
- Being a key **business partner to internal and external stakeholders**
- Providing timely business insight to internal management on emerging and developing issues
- Continual dialogue and review with Internal Audit, KPMG and Regulators

Revenue and Balance Sheet Reporting
- ** Product Line Revenue Reporting**
- Daily revenue reporting
- Independent review and validation of daily and monthly revenue movement by product
- Comparison to trading desk estimate of revenue, an essential part of the daily control process
- ** Revenue Explain and Analysis**
- Analysis and commentary of revenue by market drivers to ensure full understanding and assist in validation
- Review of new trading activity for confirmation of day-one revenue recognition
- Volcker metric reporting; submission of revenue results with associated explanation
- ** Product Line Balance Sheet Reporting**:

- Daily balance sheet reporting by product line
- Control, analysis and formal reporting of balances for U.S. accounting purposes
- High quality commentary for material variance drivers

Valuation Control
- ** Independent Price Verification (IPV) **(Banamex Legacy Franchise responsibility)
- Ensure valuation integrity of balance sheet; required by Auditors & Regulators
- Compares and reviews trader prices and parameters with independently sourced market information
- Involves taking financial adjustments, or forcing price changes, where required to achieve fair value
- ** Valuation Adjustments **(e.g. close out costs, and corrections to models)
- Calculation and control of financial adjustments needed where the unadjusted levels are not representative of fair value
- ** U.S. & International Financial Reporting Standard disclosures**
- Classification of the fair value balance sheet by Fair Value Hierarchy Level and other quantitative and qualitative disclosures as required.

Internal Controls and Governance

Product Control Director regarding **Governance Policy and Control** main responsibilities are to:

- ** Ensure consistent, integrated and sustainable end to end controls are in place reinforced by a comprehensive policy and governance process**:

- ** Improve effectiveness, consistency and transparency of the control environment**:

- **Provide independent assurance and guidance for best practice**
- Managing issue remediation framework
- Executing targeted conformance testing
- Partnership with Internal Audit, KPMG and Regulators
- **Job Family Group**:
Finance
- **Job Family**:
Product Control
- **Time Type**:
Full time
- Citi is an equal opportunity and affirmative action employer.

Qualified applicants w

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