Specialist, Product Control & Middle Office

About the Role
The Specialist Product Control is responsible for the adoption of adequate risk management controls, compliance & sustainability, oversighting of key activities and implementation of projects. The Specialist will work closely with coverage and various cross-functional teams to mitigate investment risks and rebalance in accordance with the company's policies. They are accountable for ensuring the company’s practices are executed in accordance with legislation and industry standards.

This role includes analyzing the assets held under management (AUM) for Elite & Private Banking through the creation of the MIS report. Various ad hoc reports are created to meet the demands of senior management, enabling key decisions and business strategies. Additionally, this function works alongside the financial control team to ensure appropriate accounting with the Central Finance Team for AUM and revenue recognition.

The Specialist will establish business processes to ensure that execution aligns with audit and compliance requirements, identifying existing business gaps and providing corrective measures to mitigate risks. The Product Control team acts as an independent control function ensuring compliance with the Target Operating Model, overseeing the integrity of investment-related product setup and the valuation of existing products.

Key Responsibilities
Strategic Contribution

• Create the monthly Asset under Management MIS report covering multiple source systems with sanity checks to ensure data accuracy.
• Analyze movements in AUM and provide evidence on current positions for Elite & Private Banking.
• Manage the product database as a single source for all investment products, including categorization and parameters.
• Ensure availability of a Wealth dashboard for management to view the portfolio across various business parameters.
• Support various transformational IT projects as a Business representative for UAT, data migration, and other related projects.
• Participate in decision-making processes for bank-wide projects within EPB business.
• Coordinate training for EPB process implementation.
• Monitor the complete settlement of all end-to-end trade lifecycle.
• Respond to all investment and trade-related queries internally and externally.

People Management

• Collaborate with bank-wide stakeholders to establish E2E product/process as applicable to EPB business.
• Be the point of escalation for teams coordinating with TED regarding trade bookings.
• Engage with various teams for execution, settlement, and client reporting-related issues.
• Communicate with various platform/product providers (Allfunds, Indian banks, Global Market & counterparties).
• Support the coverage team with investment product knowledge, setup, valuation, and reporting to help address client complaints/queries.

Budgeting and Financial Planning

• Coordinate with the Central Finance team/Business Management to track product profitability and RM revenue to assist in budgetary activities.

Policies, Systems, Processes & Procedures

• Review local regulatory requirements and anticipate needs.
• Develop policies and processes in line with local regulations and bank-wide stakeholders.
• Monitor established due diligence and E2E product processes, recommending improvements.
• Manage intra-bank stakeholders and third-party entities related to the company.
• Lead new product setup and maintenance, review product approval, risk ratings, and manage valuation policy.
• Provide guidance to the team to enhance governance and operational framework around investment products.
• Participate in critical projects to improve business workflow efficiency.

Customer Relationship Management

• Manage coverage queries and complaints from clients and provide appropriate direction.
• Be the point of escalation for disseminating daily product valuations.
• Ensure the availability of product documents and investment tools (e.g., yield calculator).
• Analyze operational loss incidents and suggest remedial actions to business heads.
• Maintain the investment product portfolio (AUM and revenue).
• Coordinate coverage in products and process training.
• Act as a point of escalation for coverage related to client reporting, P&L, and due diligence documents.
• Guide and coordinate on investment deals processed through multiple back offices.

Continuous Improvement

• Work towards continuous upgrades regarding new investment ideas, product changes, and regulatory shifts.
• Participate in online learning initiatives to improve EPB products and efficiency in service delivery.
• Invest personal time in gaining higher qualifications in investment fields.

Specific Accountability

• Substantiate incidences and operational losses before initiating settlement.
• Monitor the collection of fees from clients holding investments and coordinate solutions for outstanding fees.
• Validate daily prices before uploading them to ensure accurate reflection of clients' investment values.
• Participate in UAT testing for various wealth management products as required.

Requirements / Qualifications
Minimum Qualification

• Educated to a minimum of a bachelor's degree in business administration, commerce, economics, banking, or finance.
• Ability to operate independently and motivate a team positively.

Minimum Experience

• Minimum of 5+ years of experience in investment product, finance, accounts, IT, and project management roles.

Advanced Knowledge of

• Investment management business, product structures, and investment processes.
• Retail banking and brokerage model.

Specific Skill in

• High-order reasoning and decision-making including interpretation of product programs and compliance policies.
• Working knowledge of the systems development life cycle (SDLC) and software implementation, including experience with Bloomberg, Advent, core banking systems, and wealth management systems.
• Proven project management skills with a track record of successfully leading projects to completion.

Ability to

• Organize, prioritize, manage, and track multiple detailed tasks.
• Work with multiple teams and lead when required.
• Demonstrate a positive attitude and excellent relationship-building skills.
• Be accountable for deadlines, attention to detail, and delivery.
• Operate independently with minimal supervision.
• Coach and train team colleagues for their growth within the organization.