Profit and Loss Valuation Controller

In a changing world, unprecedented challenges require unmatched talent. Join one of Montreal's Top Employers in 2025. We are a dynamic and growing organization having its main establishment located in downtown Montreal and part of a leading international banking institution fully committed to building a more sustainable future. Note that the position may be in the Canadian Branch of BNP Paribas or in one of its subsidiaries based in Montreal.

The position at a glance

PRODUCT CONTROL OVERVIEW:

Fully integrated in the IT and Operations (“ITO) department, Product Control covers a large panel of operational activities aiming to monitor the life cycles of the trades. It starts with the portfolio creation for trade booking, the trade booking itself, the monitoring of the events associated with the trades, the P&L calculation, explanation and validation on a day-to-day basis as well as the monitoring of the trading activity, ensuring that the traders mark their books to fair value prices. It also encompasses the confirmation of trades with counterparties.

P&L AND VALUATION CONTROLLER OVERVIEW:

This position is for a controller supporting and controlling the Global market business. The selected candidate will be part of the P&L and Valuation team.

This role will focus part on efficiency improvements and part on Production tasks.

This role will require strong coding skills of Python to prepare, test and implement improvements to PnL and Valuation processes. These changes result in efficiency improvement, better risk mitigation and/or expansion/increased scale of the P&L and Valuation department controls.

The role will encompass daily P&L and Valuation responsibilities, participating in the teams’ daily tasks, with an automation angle in mind

The individual will be required to establish effective working relationships with both the Front Office and other areas of support. (E.g. Trade Support, VR&C, Market Risk, Finance & IT) - allowing for an integrated and proactive approach to the business’ requirements, understanding the lifecycles of the products traded and the systems and reporting mechanisms required to enable full control and accurate and appropriate information to be supplied.

CANDIDATE SUCCESS FACTORS:

Candidates will be measured on the following four performance drivers which will dictate how individual impact is considered on the Americas platform:

Results and Impact

Impacts division and influences peers and team
Demonstrates good judgement when making decisions of high complexity and impact
Relies on limited guidance for most complex decision making
Is responsible for driving outcomes which have meaningful effect on team or department

Leadership and Collaboration

Creates trust with department leaders
Acts in leadership capacity for large projects, processes, or programs for a team

Client, Customer and Stakeholder Focus

Able to build relationships with a mix of intermediate and senior colleagues or clients
Interacts regularly with management and department leaders
Demonstrates the ability to persuade and influence stakeholders at the team level

Compliance Culture and Conduct
Takes full responsibility for personal actions and demonstrates courage in facing problems and conflicts
Perceived as a person of high moral character; upholds corporate values and displays high ethical standards”

In detail

P&L CONTROLLER RESPONSIBILITIES:

The preparation and supervisions of daily and monthly P&L and their reconciliation with the estimates of the traders and with the financial accounts
Analysis and reporting of daily P&L with detailed Greek breakdown for multiple products including futures, options, interest rate derivatives and Structured Products
Reconciliation of PnL to Front office estimates with detailed Greeks and New deal breakdown
Resolution of PV breaks between client/ counterparty settlement amounts and P&L control estimates
Ensuring the pricing configuration complies with trading strategy and internal controls, collaboration with V&RC and Risk required to enforce consistency
Analysis, understanding and commentary on PnL using analytical tools
Working with front office and trade support and other parts of the middle office to resolve operational and booking issues
Working with front office and market risk to finalize month end PnL validating Map and Reserves at the trading book level
Collaboration with Risk to evaluate and explain cash and PV movements above established thresholds to facilitate risk reporting
Ensuring the MTD management P&Ls are consistent with the final end of month general ledger P&L
Lead new systems deployment which is not limited to being part of TAC/NAC, gathering requirements, testing UAT database, ensuring results match expectations and reporting impacts
Discussing and reviewing trading P&Ls with management
Continuously improving controls
Continuously improving efficiencies

VALUATION CONTROLLER RESPONSIBILITIES:

Contribute to control framework by:

Researching securities that are not priced and proposing alternative prices
Identifying securities where the price provided by the market data providers is stale. Evaluate the accuracy of the price and propose the use of price from alternative market data providers
Identifying securities whose price generates a large price movement. Evaluate the correctness of the price, and where needed, propose using a price from an alternative market data provider
Analyzing edge cases/pricing anomalies by gaining strong understanding of pricing hierarchies
Pricing OTM option using Bloomberg functionalities
Summarize and report outstanding issues to RISK, FO and PB management
Develop spreadsheets and code to enhance the overall control framework
Gain expertise in Product Master, the main pricing system for PB
Prioritize the research of securities by identifying the impact on the most critical clients
Identify and escalate exceptions for the controls performed
Exhibiting good judgment in escalating issues for resolution
Ensure daily completeness of controls and meet T+0 deliverables in a timely manner
Maintain good working relationships with market data providers and escalate occasional anomalies for investigation

EFFICIENCY IMPROVEMENTS:

Work on production and functional projects that have an impact on the department by:

Leading continuous improvement projects within P&L and Valuation team
Leading automation projects
Be able to take on challenging positions and adapt well to various work assignments

Support for Front Office and Other Internal Stakeholders:

Liaise with trading floor personnel and ensure a satisfactory resolution of all FO inquiries
Interact with Operations functions and other infrastructure groups to support a ‘one team approach’
Strive to meet or surpass the service level agreement
Manage deadlines and objectives

COMMUNICATION:

Ensure timely and efficient dissemination of data and the resolution of inquiries
Identify and escalate time / risk sensitive issues to the team supervisor
Cohesively explain and maintain own position, logically, in light of differing views

CULTURE:

Focus on the needs of the business
Act with integrity, accepting responsibility for actions
Recognize opportunities for creativity and development of processes
Achieve a sensible work/life balance.

Applicable to All

Ensure the business area conducts its activity in accordance with all relevant external regulators and internal policies.

The strengths and skills that will help you succeed

MINIMUM REQUIRED QUALIFICATIONS:

Bachelor’s degree or equivalent required
Strong IT skills including Excel, VBA and Python
Working product knowledge across a wide range of asset classes
Superior attention to detail and accuracy
Strong interpersonal and communication skills a must
Ability to work in a fast-paced environment
Spirit of continuous improvement
Display good relationship qualities, team spirit, and ability to work across teams
Fluency in financial markets
Knowledgeable of the Greeks

PREFERRED QUALIFICATIONS:

Graduate degree in Finance, Math or Engineering or other quantitative disciplines
Working knowledge of Programming languages such as VBA, SQL & Python
Exposure to pricing, valuation or hedging of derivatives
5 to 7 years of previous experience in P&L Control, Valuation, Financial Control, or a Middle Office environment
Strong knowledge of market practice and pricing fundamentals

FINRA REGISTRATIONS REQUIRED:

None needed

Given the vast majority of our clients, both internal and external, are based outside of Quebec and Canada, specific language requirements may apply. Knowledge of the English is required.

What’s in it for you

In addition to competitive compensation, we offer flexible benefits including a family and spouse insurance program, a defined contribution pension plan and paid days for volunteering. Hybrid work arrangements are available for most positions. In-office presence is required a minimum of 3 days per week, one of which must be on a Monday and/or a Friday. BNP Paribas provides excellent training and personal development programs, as well as opportunities for career development within the company and internationally.

What you need to know

We will review candidates as they apply, so don’t wait to submit your application;

BNP Paribas is committed to accessibility and inclusion. During the recruitment process, accommodation needs are available at all times for candidates. You will have the chance to make a request for an accommodation during your application.

You must be legally eligible to work in the Greater Montreal area and, if applicable, hold a valid work or study permit. Physical presence in BNP Paribas’ office(s) is an essential function of this position;

If you are applying and accepted to a position which requires working in/for the U.S. securities industry, you will be required to provide your fingerprints and undergo additional background checks by the FBI. BNP Paribas Securities Corporation is required to maintain a supervisory program over the conduct of its Associated Persons; some of your personal data will be transmitted to the United States of America and made available to US regulators. Please reach out to BNPP for additional information; or you can also find an overview here: 3110. Supervision FINRA.org
(Opens in a new tab)

Diversity, Equity and Inclusion (DE&I) at the heart of our commitments

At BNP Paribas all employees are on an equal footing allowing us to create a work environment that values and respects people for their talents, skills and competences.

BNP Paribas recruits, employs, trains, compensates and promotes regardless of race, religion, colour, national origin, sex, disability, age, and other protected status (Employment Equity Act and Canadian Human Right Act).

About us

BNP Paribas is the top bank in the European Union and a major international banking establishment. Present in 63 countries, with more than 180,000 employees, the bank holds key positions in several areas of banking and financial services.

BNP Paribas’ mission is to contribute to a responsible and sustainable economy by financing and advising its clients according to the highest ethical standards, while striving to respond to essential concerns in terms of the environment, regional development and social inclusion.

Since 1961, BNP Paribas has supported large Canadian companies and institutions in their business development by offering a full range of specialized financial services and investment products.

With over 1,400 employees, BNP Paribas in Canada continues to attract experts from diverse fields as well as ambitious young talent from around the world. We are proud to offer our employees a rewarding and international workplace where they can build their professional careers by honing their skills, meeting challenges and enriching their knowledge of the financial industry.

Our certifications and partnerships

Montreal’s Top Employers 2025
Canada’s Best Diversity Employers 2025
Women in Governance – Parity certified - Platinum certification
Pride at Work Canada
Part of Les Affaires top 300 companies in Quebec
Synclusiv
Ready, Willing and Able
Autisme sans Limites
LinkedIn Top Companies 2024

Do you want to discover other BNP Paribas offers in Canada?

*** While the description above describes our ideal candidate, we encourage applicants to apply even if they do not fully meet the complete list of qualifications noted***