Manager- FX PnL Recon / Product Control/Level 1 control

July 31, 2023

Manager- FX PnL Recon / Product Control/Level 1 control


  • Standard / Permanent
  • IN-MH-Mumbai
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Position Purpose

  • Perform for the APAC region the first level controls for the P&L and FX reconciliations, ensuring differences are highlighted, adjusted and solutions are implemented.
  • Act as a key point of contact to the Middle Office, Operations, Local Finance and the Regional teams.
  • Review underlying products and transactions to resolve discrepancies.

Direct Responsibilities 

  • Perform Profit & Loss reconciliation between Middle Office and accounting
  • Perform Foreign Exchange reconciliation between Middle Office and accounting
  • Perform reconciliation of Mark to Market to Equity between Middle Office and Accounting
  • Explain the differences between the Middle Office and the Accounting P&L (structural differences and P&L corrections)
  • Verify the accounting corrections detected in the context of the controls have been correctly processed
  • Monitor the remaining difference is at an immaterial level, and assess requirement for provision
  • Maintain the system and reports for P&L and FX reconciliation
  • To handle the finance validation of the day to day front office portfolio request and ensure it is aligned with the accounting setup.
  • Suggest improvement in the system and data flow for P&L and FX reconciliation
  • Communicate with a wide range of departments (Middle Office and Operations), Finance teams (regional and local) and  Performance Management Team
  • Handle ad hoc queries as requested by Management
  • Manage a team of 4-5 members, review team’s tasks and maintain KPI
  • Maintain good relation with extended teams and clients
  • Migrate the reconciliations in the new ledger post OFS implementation per entity

Contributing Responsibilities 

  • Contribute to the implementation of operational permanent control policies and procedures in day-to-day business activities, such as the Control Plan
  • Contribute towards UAT and go-live of reconciliation in new finance ledger; OFS
  • Direct contribution to BNPP operational permanent control framework
  • Comply with regulatory requirements and internal guidelines 
  • Contribute to the investigation/coordination with local finance, operation & MO on other control issues.
  • Contribute to the overall Asset Liability Management and Rest of the bank FX position and P&L sell down process
  • Provide assistance in performing control on data flow for Capital Market Activities
  • Assist Performance Management in reconciling accounting P&L with the business line P&L reported in Paradigm. 

Technical & Behavioral Competencies

  • Ability to work under pressure in a complex environment with stake holders from various areas
  • Data mining skill & analytical
  • Self-organized, with strong ability to anticipate, plan and priorities issues
  • Rigorous for implementation with culture of controls
  • Capital Market Product knowledge
  • Sound financial accounting knowledge
  • Proficiency in Microsoft Excel, Word, PowerPoint, MS Access, Business Object (SQL, Macro & VBA knowledge is an advantage)

Specific Qualifications (if required)

Professional experience 

  • Familiar with large international Corporate & Investment Banking activities and organization
  • Relevant experience in Banking, Capital Market activities and Treasury (minimum 4 years)
  • In Middle Office or Product Control department, as trade support , P&L calculation and analysis or organization function 


  • CA
  • Professional membership in CPA/ACCA/CFA are desired
  • Some training in internal/external audit processes 

Skills Referential

Behavioural Skills: (Please select up to 4 skills)

Ability to collaborate / Teamwork

Ability to deliver / Results driven

Communication skills – oral & written

Client focused

Transversal Skills: (Please select up to 5 skills)

Ability to develop and adapt a process

Ability to set up relevant performance indicators

Analytical Ability

Ability to understand, explain and support change

Ability to inspire others & generate people's commitment

Education Level:

Chartered Accountant

Experience Level

At least 8-10 years

Other/Specific Qualifications (if required)

  • Team Management skills
  • Good communication skill
  • Very high comfort with working with numbers: rigor, analytical mind-set, ability to interpret numbers
  • Strong sense of organization, ability to prioritize tasks and meet deadlines
  • Hard working
  • Team spirit
  • Curiosity and open to other cultures
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