A Product Controller is typically a qualified accountant who is responsible for the accounting and financial reporting for a particular division or desk within an organisation, for example the front office of investment bank, which trades on markets.
Product Controllers are usually qualified accountants who provide accounting services for the ‘products' sold by banks and traders - such as stocks and shares and their derivatives, commodities and bonds. Product Controllers work closely with traders to calculate profit and loss accounts for products and are often involved in calculating the price and value of new products.
Product Controllers work in a fast paced and demanding trading environment and must be strong technical accountants in order to provide the financial control and rigour required for the role.
Typical duties include:
Calculating daily profit and loss accounts for products.
Working closely with traders and front desk teams to understand and accurately record all relevant information.
Providing risk and market analysis for front desk colleagues.
Producing regular management accounts.
Providing review and commentary on reports.
Compliance.
Qualifications
Most Product Controllers are part or fully qualified accountants.
Salary Snapshot
Recent product control jobs advertised on TopFinancialJobs (February 2010) include:
£50-70,000 per annum for a qualified (ACA, ACCA, ACMA) Product Controller working in the City.
£300-350 per day for a temporary qualified (ACA, ACCA, ACMA) FX Options Product Controller working in London.
£70-80,000 per annum for a qualified accountant working as a Senior Manager - Equities Product Control for a global financial services provider in London.
£45-60,000 per annum for a qualified (ACA, ACCA, ACMA) Equity Derivatives Product Controller in London.
Are you a Product Controller? Would you like to contribute to our "Day in the Life of..." series? Email us at info@topfinancialjobs.co.uk for more details.
