Product Control Manager

2 weeks ago

Toronto, Ontario, Canada Royal Bank of Canada> Full time

Job Summary

Job Description

Key Responsibilities

As a Product Control Manager at Royal Bank of Canada, you will be responsible for providing high-quality analytical support to the Capital Markets' Mortgage Investment Group Product Control area. Your key responsibilities will include performing mark-to-market valuation, P&L reconciliation, accounting entries, and reporting on an accurate and timely basis. This role will also require you to become a subject matter expert for the Mortgage Investment Group business unit.

Key Accountabilities

  • Perform daily P&L valuation of multiple mortgage trading books, analyzing MTM movements of swaps, bonds, and securitized products in the trading book.
  • Conduct month-end accounting entries, reporting, and reconciliation of the trading books.
  • Act as the primary point person for all Front Office queries and issues, effectively monitoring, tracking, and completing tasks in a timely fashion.
  • Ensure strong accounting knowledge is applied, submitting all monthly accounting entries to the general ledger and conducting reconciliations to ensure figures are accurate and complete.
  • Implement key controls to attest to the integrity of MIG P&L.
  • Collaborate with other teams, including Financial Control and IT, to set up accounting for new business and products, P&L files, and portfolio reporting.
  • Provide support to Statutory and Regulatory Reporting and Head Office, filling out relevant templates and providing adequate backup on a monthly basis.
  • Compare P&L Estimate vs. Actual results, explaining variances and obtaining sign-off.
  • Perform daily PNL and Balance Sheet reconciliations to ensure figures are properly tied back to the systems of records.

Requirements

Must have

  • 2+ years of experience in a sophisticated Capital Markets environment and/or supporting a trading desk.
  • Strong accounting knowledge, with working towards or completed a professional accounting certification.
  • Excellent MS Office skills, including Excel VBA and building macros, Database, and SQL skills.
  • Strong analytical, problem-solving, interpersonal, and communication skills.
  • Able to work effectively and reliably under pressure.
  • Advanced understanding of procedures and operational controls as they relate to trading systems and workflows.

Nice-to-have

  • Understanding of mortgage products, mortgage-backed securities, and/or securitization.
  • Knowledge of financial products (bonds, repos) and plain vanilla derivatives (interest rate swaps).
  • Accounting designation or CPA holder, CFA Candidates or Charter holders.
  • Canadian Securities Course.
  • Derivative Fundamental Course.

Job Skills

Accounting, Accounting Journal Entries, Balance Sheet Account Reconciliations, Business, Business Analytics, Derivatives, End Reporting, Financial Accounting Systems, Financial Instruments, Financial Services Industry, General Ledger Administration, Group Problem Solving, Income Statements, Investments, Investments Analysis, Month End Reporting, Mortgage Products, Product Controlling

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