Product Controller
Independently verifies what the trading and banking books earned, and why.
// 01 — THE WORK
The daily job is profit and loss: explaining the move, reconciling it to positions and market data, and challenging anything the desk cannot account for. It sits between the front office and finance deliberately, which makes it a seat where you are expected to disagree with people who earn more than you.
// 02 — WHO ARRIVES HERE
Accounting and finance graduates, often as a first seat, and a common springboard into markets, risk or finance leadership.
// 03 — WHAT THE INTERVIEW ASKS
These are the shapes the round takes, not a question bank — banks phrase them differently and the wording is never the point.
- 01The desk's P&L moved and nobody can explain it. What do you do?
- 02What is a P&L attribution, and what does it catch?
- 03How would you value something with no observable price?
- 04The trader says your number is wrong. How do you handle it?
- 05Why does the bank pay someone to check its own traders?
- 06What would make you escalate rather than investigate further?
What the panel is listening for. Whether you will hold a position under pressure from a confident person, and whether your challenge comes with a reconciliation attached.
// 04 — WHY CREDIT PAYS IN THIS SEAT
The habit this seat builds — never accept a number without knowing what it is made of — is the same habit that separates a real credit read from a summary of the borrower's own accounts.
That is the general case as well as this one. A bank's technology is not ordinary technology and its finance is not ordinary finance, and the second and third lines of defence — risk, compliance, financial crime, model validation and internal audit — recruit heavily out of the functions, taking the people who can already read a business. The case drills are free and are the cheapest way to build that, whichever column you sit in.
// ALSO IN THE FUNCTIONS
- Financial accountant
- Regulatory reporting analyst
- Treasury analyst
- Software engineer
- Cyber security analyst
- Data scientist
- Business analyst
- Operations analyst
- Legal counsel
- People partner
- Marketing manager
- Procurement manager
The whole board, and how the four blocks fit together, is on what jobs banks hire for.