Product Control Graduate

Capula have an exciting opportunity for a recent graduate to join our Product Control team. No prior experience is required, although a keen interest in finance and strong technical and interpersonal skills are expected. Please note that we are looking for candidates who are able to join as soon as possible.

Overall purpose of the job:

• To review, reconcile, and prepare trading P&L reports for one or more funds on a daily basis.
• To have a full understanding of the P&L, and what is driving daily moves, including cash and risk based attribution
• To fully understand the processes, calculations, rules, and data used in the P&L and NAV processes of the investment manager, its funds, and its Administrators
• To maintain a strong working relationship with Trading, Treasury, Risk, and Operations
• To support systems and processes improvement on the desk working in close partnership with Technology
• To support Finance, Compliance, Investor Relations, and Audit with tax, regulatory and client reporting
• To support annual fund audits, working with external counterparties
• To support change and new business initiatives by writing requirements, testing, and implementation.

Duties:

• PnL and NAV Production
• Daily production and verification of Trading P&L using Internal, Administrator, and Risk-based systems
• Explanation of P&L to the front office, with investigation and reporting of variances to the P&L with valid explanations
• Calculation of funding, brokerage, interest charges, other accruals, etc.
• Daily production of the Fund NAV and share class level return information.
• Monthly reconciliation of Trading books P/L with the Administrator.
• Monthly NAV and PnL reconciliation of the Fund internal return estimate with the Administrator.
• Dealing with requests and queries from internal and external clients (Trading, Operations, Auditors, Investors, Regulators, etc.)

Change Initiatives

• Propose ideas to improve the operating environment and infrastructure of Product Control
• Support the creation of business requirements document (BRDs) which explain requirements to Technology for development
• Test and implement new tools, systems and process into business as usual
• Collaborate across Capula on change
• Support new business proposals (funds, products, counterparties, etc.) 

Tax, Regulatory and Client Reporting

• Review and challenge administrators’ regulatory reports (PF, PQR and Annex IV) on a quarterly basis.
• Prepare ad hoc and regular reporting for individual clients where requested by Investor Relations
• Support the annual fund audit and SOC1 reporting, working with external firms
• Prepare the Total Expense Ratio of the funds on an annual basis

Overall

• Maintain a robust risk and control frame work around all deliverables
• Maintain current procedures documents across all BAU activities
• Communicate effectively across the organization
• Maintain professional relationships with all counterparties, most notably the Administrator

Note that in addition to these duties employees are required to carry out such other duties as may be reasonably required.

Requirements

Bachelors or Master’s Degree in a quantitative discipline such as statistics, economics, mathematics, physics, engineering, or computer science discipline with a strong interest in financial markets and information systems

Skills and Experience:

• Excellent quantitative and analytical skills accompanied by critical thinking and intellectual curiosity
• Ability to cultivate relationships both internally and externally to support the business requirements
• An individual adept to knowledge sharing with other team members
• Numerate
• Excellent interpersonal and communications skills.
• Quick decision making skills and willingness to assume responsibility and take ownership of tasks assigned.
• A desire to contribute to continuous improvement of controls, processes and efficiency.
• Ability to work under pressure.
• Demonstrated strong time management and organizational skills
• IT Skills – Advanced Excel, Power Automate, Power BI
• Coding skills are preferred, but not essential (VBA, SQL, Python)
• Previous experience performing a Trading, Independent Price Verification, Market Risk, or Product Control Role (buy-side or sell-side) is preferred but not essential
• Prior experience working with a Hedge Fund or Investment Management company is preferred but not essential
• Experience working with traders and risk managers is preferred but not essential
• Experience implementing technology change initiatives while performing daily BAU responsibilities is preferred but not essential

Benefits

• Competitive salary
• Private medical insurance
• Life assurance
• Pension
• Corporate gym membership (and a complimentary wellness space in our London office)
• Employee restaurant with free breakfast, lunch and dinner