Effective Product Control - Controlling for Trading Desks

ISBN-13: 9781118939819 / Angielski / Twarda / 2017 / 376 str.

Peter Nash

Opis

Improve financial product control operations with this comprehensive reference Effective Product Control provides detailed "how-to" guidance for the product control function, serving as a control standards primary reference for both internal and external stakeholders. Coverage includes tasks, roles, and functions, presented in an accessible way for introductory readers, while also offering best practice and improvement examples for the seasoned professional. Readers will learn how to handle risk exposure, exception reports, PNL, and more, and better grasp the relevant regulation, compliance rules, and standards. Key touch points include risk management, audit, accounting, treasury, trading and product sales, along with an examination of taxation and regulatory interaction including SOX, control review, valuations, and liquidity levels. Teaching and student ancillary materials include lecture slides, case studies, questions and answers, and functional documents that facilitate fundamental understanding. Product control within financial services organizations monitors trades, trade patterns, and entire portfolios to assess the remits and risks being taken, acting as the primary conduit between the trading desk and risk management, accounting, auditing, and financial functions. This book gives readers a foundation in product control, with detailed guidance toward every aspect of the function.

• Gain a deeper understanding of common product controller tasks
• Structure an effective and efficient product control function
• Carry out audit and regulatory review more effectively
• Understand product control's role within the financial institution

Product controllers' primary responsibility is to ensure that traders operate within their assigned remits, and mark their books to market prices. The practice is crucial, but often poorly understood. For product control staff looking to enhance their skills and improve operational processes, Effective Product Control is the complete guide to the function.

O autorze

PETER NASH is a qualified accountant who has spent almost two decades controlling a wide range of sales and trading desks in Investment and Commercial banks. He is currently a Director of FINSED (www.finsed.com), a financial services training and consulting firm specialising in product control.

Blurb

Praise for Effective Product Control

"Essential reading for those working in or with product control and anyone with an interest in banking and finance. The only book of its kind, well–written, easy to follow and packed full of practical examples."
—Keith Young, Product Control (Senior VP)

"Peter has produced an invaluable reference tool for any product controller starting out in their career (and provides great nuggets of pertinent information for more experienced controllers too). I wish this book existed when I was starting out."
—Daniel Pass, Head of Valuation Control

"Essential reading for a successful career in product control. This is an excellent overview of a product controller′s work as it looks at the role from an end–to–end perspective. It is a valuable resource for people aspiring to be product controllers and those who have been in the industry for a few years. If you work in a third–party organisation and don′t understand the overall controls framework, this is the book for you."
—Fahad Parvez, Product Control (Senior AVP)

" As a Chartered Accountant with over 10 years′ experience in financial services and product control, I found this book to be very well–written and would recommend it to anyone interested in a career in banking or wanting a greater understanding of how banks implement control and report P&L."
—Michael Fraser, Chartered Accountant

The First Authoritative Guide for Product Controllers Globally

In the 1990′s, with increasing volumes of trading, a greater pool of financial instruments and higher levels of complexity, it was necessary for banks to establish a dedicated function within finance to control evolving sales and trading desks. With that, management accountants morphed and grew into a function called Product Control, which came to dominate large swathes of finance, establishing footprints all over the developed world and later on, developing nations.

Effective Product Control is a detailed how–to guide for those entering the profession, auditors and regulators who review product control and established controllers wanting a refresher on the latest skills and core controls within the industry.

Created by a leading expert in the field as a tool to lead and train teams in large banking organisations, this compendium of cornerstone knowledge and up–to–date best practices will enhance your skills and understanding of product control.