Product Control Analyst 3 - Global Securitized Markets (Buffalo, NY)
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Our core activities are safeguarding assets, lending money, making payments and accessing the capital markets on behalf of our clients.
Citi's Mission and Value Proposition explains what we do and Citi Leadership Standards explain how we do it. Our mission is to serve as a trusted partner to our clients by responsibly providing financial services that enable growth and economic progress. We strive to earn and maintain our clients' and the public's trust by constantly adhering to the highest ethical standards and making a positive impact on the communities we serve. Our Leadership Standards is a common set of skills and expected behaviors that illustrate how our employees should work every day to be successful and strengthens our ability to execute against our strategic priorities.
Diversity is a key business imperative and a source of strength at Citi. We serve clients from every walk of life, every background and every origin. Our goal is to have our workforce reflect this same diversity at all levels. Citi has made it a priority to foster a culture where the best people want to work, where individuals are promoted based on merit, where we value and demand respect for others and where opportunities to develop are widely available to all.
Citi's Finance Division is comprised of various global functions, including: Product Control, Treasury, Controllers, Balance Sheet Substantiation, Financial Projects & Initiatives, and Financial Planning & Analysis. The Finance Division is the guardian and communicator of key financial information and controls. As a partner with Citi's various businesses, Citi Finance drives business franchise and legal entity decisions on capital planning, liquidity, budgeting, tax, strategic direction and policy management.
Product Control is a global control function within Citi Finance and is responsible for the accounting and financial reporting of a trading desk or business product. Product Control reports daily and monthly revenues and is responsible for key controls over P&L and PAA reporting and analysis, Balance Sheet reporting and analysis, New Transaction Review, FX exposure reporting and coverage and Independent Price Verification.
For this role, the candidate will support the Global Securitized Markets business, one of the primary trading businesses within the Institutional Clients Group (ICG). This business is involved in the new issue and secondary trading of mortgage and asset backed securities. The business also originates, securitizes, and trade residential and commercial real estate mortgage loans. The traders manage their risk by hedging with OTC derivatives, futures, options, and US Treasury bonds. The mortgage backed securities are issued by both government agencies (FNMA, FHLMC, GNMA, etc) and private issuers, primarily Banks, including Citi. The goal for the incoming candidate is to become a subject matter expert on all aspects of these products and play a prominent role in driving processes forward to enhance controls.
Primary responsibility is the daily production and analysis of profit & loss, PAA, and balance sheet reports for the trading desk.
- Assist in month end closing process including General Ledger entries, balance sheet substantiation, and P&L reporting.
- Develop a strong understanding of the mortgage product structures and cash flows.
- Understand the end to end trade processing flow which is needed to jointly work with Middle Office, Operations, and Technology in resolving trade and operational problems that impact the PL and balance sheet.
- Assist with control testing for the monthly Management Control Assessments (MCA) process
- Identify and assist with testing of re-engineering opportunities to enhance processes and controls and achieve Best in Class practices.
- Identification and analysis of key Balance Sheet / P&L variance drivers vs. prior periods
Bachelor's degree required. Finance or Accounting degree preferred.
1 or more years of working experience required
Prior experience in Finance and/or Accounting a plus.
Excellent interpersonal and communication skills, both verbal and written.
Strong MS Office Excel skills a must. Access, PowerPoint or other financial systems knowledge is a plus.
Must manage multiple tasks in a fast paced environment while meeting deadlines.
Job Status: Full Time
Job Reference #: 18006624