About Business line/Function: Global Market Operations, also known as COCE (client operating center of excellence) is further divided into 4 departments i.e. Trade Processing & Support, PnL, Client Management & Change Management. Product Control in the wider market outside of BNP is Middle Office. Product Control consists of streams like Documentation & Reconciliation, Trade Support, P&L; & Trading Portfolio & controls. Product Control teams are in regular contact with Market Front Office, Regional Back Office’s and Regional Finance & other support teams for their BAU.
Position Purpose
Provide a daily Economic, Step Reval and Risk Based PNL to each desk and to the Bank’s management.
Ensure that the PNL is calculated from the reference positions and that these positions are real and checked.
Escalate any unusual P&L; to the desk and management that may indicate a wrong position or transaction in the FO system.
Run all the required controls on key elements of the PNL
Document all exceptional PNL moves and adjustments for Management.
Responsibilities
Direct Responsibilities
Produce accurate daily analysis of P&Ls; to Trading desks and bank management. This includes the 3 different P&L; analysis required by the internal Valuation Policy and Regulators:
Economic P&L; (cash + PV) for Management and Accounting P&L; reconciliation (performed by Finance)
Step Reval P&L; for VaR back-testing feeds and contribution to Regulatory ratios (used in the Dodd Franck and French Banking Law ratio calculations)
Risk based P&L; to validate the FO risk and models.
Responsible for daily and monthly controls on key elements (positions, market data, adjustments, reserves) and liaise with internal departments in case of issues.
Perform FO/MO reconciliations between Trading P&L; estimations at T and Official MO P&L; at T+ 1 and both explain and investigate P&L; breaks to FO if any.
Adjust the P&L; if necessa