Job Description

Team

This role is within the Controllers Function in London

Role

The Fixed Income business has expanded into more esoteric trades, specifically with complex funding structures spanning several entities. The product set includes, but is not limited to, Structured Bonds/Loans, Jefferies Issued Debt, Cash Bonds, Repos, Interest Rate Derivatives, Inflation Swaps, CDS, Caps and Floors, Swaptions, NDFs, and Futures (Currency, IR, Bond, and Options).


The candidate must comprehend the booking process and the related technical accounting implications across various entities with different GAAP accounting scenarios. Since the funding for these transactions is non-standard, the candidate will need to integrate all components of the deal. Many of these structures are recorded through SPVs, and the candidate is expected to account for, eliminate, and consolidate these into the Jefferies International entity.


There is direct interaction with the trading desk, business management, new business team and a range of Operation functions, such as Middle Office, Settlements and Corporate Actions.


The position provides a candidate with the chance to engage in a dynamic and intricate business sector. Establishing relationships with the desk from day one is essential to comprehend these frameworks and effectively communicate them to senior finance management. Monitoring these diverse transactions throughout the trade lifecycle and enhancing the control environment will be vital for achieving success.

Key Responsibilities

The key responsibilities are:


Day 1 P&L Review and attribution Presenting booking model flow to senior management Flash v Actual Analysis Accounting for Local Reporting Requirements P&L Commentaries Fair Value Adjustments Inventory Impact Assessment and associated funding costs Trade lifecycle management Weekly Commentary analysis for Financial Reporting

Month End work including:

Balance Sheet substantiation Reconciliation of reported P&L to ledger Booking of Fair Value Adjustments Booking of Local Accounting Differences including Hedge Accounting and CTA Hedging Review of and assistance in IPV process Management Packs for deals and associated P&L P&L and inventory movement commentaries

Additional responsibilities

Active involvement in enhancements and development of process/system flows to ease automation of P&L production Ad hoc management reporting Assist in building out processes for new products sets or system implementation that may arise

Person Specification

The following skills and experience are required for this role:


Qualified Accountant, ideally 5+ years PQE. Suited to a technical Accountant who has experience with multi entity and ledger setups, specifically with funding structures. Some knowledge of hedge accounting would be advantageous. A working knowledge of FX hedging products and a basic understanding CTA hedging would be an advantage. A Product background in Fixed Income and/or Funding products within a Banking or Fund environment. Knowledge of reserving methodologies/valuation adjustments. Keen eye for details and enthusiasm for apply accounting knowledge to technical subject matters. Uses initiative to identify issues and implement solutions. Able to multitask to answer desk and management requests on a timely basis. * Ability to automate and rationalise processes as necessary.