MD - Markets Product Control

Coverage: Rates, FX, Commodities, Credit & Apex Products

Location: India – Global Capability Center

Reporting to: Global Head of Markets Products

Managing Director – Markets Product Control (GCC)

Function: Global Markets Finance / Product Control

Location: India – Global Capability Center

Role Purpose

The Managing Director – Markets Product Control (GCC) is responsible for global ownership of Markets product control activities across asset classes, providing independent valuation, P&L integrity, balance sheet governance, and control assurance .

Based in the GCC, this role acts as the global centre of excellence for Markets Product Control, partnering closely with Front Office, Risk, Finance, and Technology , while leading senior Directors and driving transformation, standardisation, and regulatory readiness.

This is a non-trading, independent control role with enterprise-wide influence.

Key Responsibilities

Global Product Control Ownership

• Own end-to-end Markets Product Control across Rates, FX, Commodities, Credit, and structured products.
• Ensure accurate, timely daily P&L, balance sheet substantiation, and financial close for trading businesses.
• Provide independent oversight of reserves, adjustments, accruals, and valuation impacts .
• Act as final escalation point for material P&L movements and valuation issues .

Valuation & Control Governance

• Lead Independent Price Verification (IPV) , valuation adjustments, and fair value governance.
• Partner with Market Risk and Model Risk on valuation methodologies, model approvals, and control alignment .
• Ensure strong governance over complex and illiquid products , including structured and bespoke trades.
• Maintain robust controls aligned to regulatory expectations and audit standards .

Balance Sheet, Capital & Risk Alignment

• Partner with Trading, Treasury, and Risk on capital usage, liquidity impact, and balance sheet efficiency .
• Provide senior oversight on product profitability, funding costs, and RWA impacts .
• Support Markets leadership with transparent, risk-adjusted financial insights.

GCC Build-out & Transformation

• Build and scale a global Markets Product Control organisation within the GCC.
• Migrate, stabilise, and optimise global product control processes into the GCC.
• Sponsor automation, analytics, and digital transformation across P&L, valuation, and reporting.
• Partner with Technology on front-to-back data integrity and system modernisation .

Leadership & Stakeholder Management

• Lead and mentor Product Control Directors and senior managers across asset classes and regions.
• Act as a trusted advisor to Global Markets CFO, Front Office leadership, Risk, and Audit .
• Represent Product Control in regulatory interactions, audits, and senior governance forums .
• Drive a culture of independence, challenge, accountability, and continuous improvement .

Products in Scope

• Rates: Cash & derivatives
• FX: Spot, forwards, swaps, options
• Commodities: Energy, metals, agri
• Credit: Cash credit, CDS, structured credit
• Structured / Apex Products: Bespoke and cross-asset solutions

Candidate Profile

Essential

• 20–25+ years in Markets Finance / Product Control within global banks or large IBs.
• Deep expertise in P&L, valuation, IPV, reserves, and balance sheet controls .
• Proven MD / Senior Director-level leadership managing large, global teams .
• Strong understanding of markets products, valuation methodologies, and regulatory expectations .
• Experience operating within or building GCC / offshore delivery models .

Preferred

• Exposure to structured and illiquid products .
• Experience engaging with global regulators and external auditors .
• CA / CPA / CFA / MBA preferred.

Success Measures

• Strong, consistent P&L integrity and valuation outcomes
• Improved regulatory, audit, and control ratings
• Scalable, cost-efficient global product control model from the GCC
• High-calibre leadership bench and succession readiness