Mbs Product Control Associate

2 weeks ago

Toronto, Ontario, Canada BMO Financial Group Full time
100 King Street West Toronto Ontario,M5X 1A1


Under the direction of the Associate Director, Product Control this role is the full scope product controller for the Securitized Products Trading and Securitized Credit Trading businesses.

This includes daily P&L and PAA reporting, full balance sheet and income statement line management, monthly analysis and ad-hoc reporting.


KEY ACCOUNTABILITY AREAS:

A. P&L and PAA (Profit Attribution Analysis) Reporting

B. Balance Sheet and Income Statement line item management

C. Analysis and process improvement

SPECIFIC ACCOUNTABILITIES:

A. P&L Reporting

  • Oversee and review accurate daily P&L and PAA for various trading desks within the Securitized Products Trading and Securitized Credit Trading lines of business focusing on but not limited to the following: Agency CMOs, Agency Pass-Throughs, SBAs, CMBS, RMBS, and CDS
  • Review for large fluctuations daily and bring to the attention of management
  • Oversee Front-Office to Back-Office reconciliations
  • Gain a working knowledge of the trade flow process from inception to G/L
  • Develop a thorough understanding of the G/L's and settlement systems (ICI, Calypso, GMI, Coda, S4 Hanna, Progress/Essbase)
  • Ensure correct bookings in the general ledger
  • Ensure that new products are set up correctly in the P&L tracking process

B. Balance Sheet and Income Statement line item management

  • Have an understanding of product related balance sheet and income statement line items
  • As appropriate, record, upload, reconcile and/or coordinate all general ledger postings for product related activity (e.g. balance sheet, revenue)
  • Prepare P&L and Balance Sheet Reconciliations as part of monthend close
  • Coordinate with legal entity and regulatory accounting, risk, operations, and other support groups

C. Analysis and process improvement

  • Create and update monthly analysis with regard to key business drivers
  • Prepare commentary and standard period over period analysis

AUTHORITIES:

  • The holder of this job has access to various financial systems (general ledgers, subledgers, and reporting systems).

CROSS FUNCTIONAL DEPENDENCIES

  • This job has cross functional dependencies to the rest of Global Middle Office, CM Finance, as well as Risk, Tax, etc. departments that support the businesses.

SCOPE AND IMPACT:

  • This job requires tracking a number of products housed in various systems.
  • Liaise with desk personnel on daily issues
  • Peak periods will include various monthly reporting deadlines and other deliverables consistent with the role.

KNOWLEDGE, SKILLS AND COMPETENCIES:

a. Knowledge

  • Undergraduate Degree in Accounting or Finance
  • Minimum of 35 years of experience in financial services industry.
  • CFA / CPA and/or Series 99/Series 7 a plus.
  • Prior experience with mortgagebacked securities and/or risk based PnL explain preferred.
b. Skills and Competencies

  • Strong knowledge of fixed income products and the MBS market.
  • Excellent computer skills. Ability to learn systems quickly.
  • Ability to manage multiple tasks and meet deadlines, without compromising data integrity.
  • Strong communication and relationship building skills.
  • Strong interpersonal and leadership skills.
  • Strong customer service and client focus.

We're here to help
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.


As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact.

We strive to help you make an impact from day one - for yourself and our customers.

We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs.

From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.

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