Effective product control : controlling for trading desks

Intro -- Effective Product Control -- Contents -- Preface -- Acknowledgements -- About the Author -- PART ONE Working in Product Control -- 1 An Introduction to Product Control -- The Emergence of Product Control -- The Purpose of Product Control -- Different Types of Product Control -- P&L Only -- P&L: Balance Sheet and Financial Reporting Focus -- Skills, Qualifications and Experience -- Organizational Structure -- The Desk -- The Trading Floor -- Pressures of Supporting the Desk -- 2 Changing Landscape of Product Control -- Offshoring -- My View -- Risky Choices -- Benefits -- XVA -- Greater Levels of Capital -- Greater Focus on Liquidity -- Notes -- 3 Key Stakeholders -- Front Office: Sales and Trading Desk -- Chief Operating Officers (COOs) -- System Infrastructure -- Onboarding New Products -- Daily Operational Effectiveness -- Forecasted Revenues, Costs, and Balance Sheet -- Operational Risk Incident (ORI) -- Implement Firm-Wide Changes -- Operations -- Middle Office -- Market Risk -- Financial Reporting -- Management Reporting -- Finance Change -- IT -- Operational Risk -- Regulatory Reporting -- Accounting Policy -- Tax -- Audit -- Internal Audit -- External Audit -- Finance Shared Service -- Summary -- Notes -- PART TWO Technical Skills -- 4 Accounting Standards: Recognition and Measurement -- IAS 39 Financial Instruments: Recognition and Measurement -- Recognizing a Financial Asset or Liability -- Derecognizing a Financial Asset -- Derecognizing a Financial Liability -- IFRS 9: Financial Instruments -- Recognition and De-recognition -- Classification and Measurement -- IFRS 13: Fair Value Measurement -- Defining Fair Value -- Arriving at Fair Value -- U.S. GAAP and Fair Value Measurement -- Notes -- 5 Market Risk -- What Is Market Risk and How Is It Generated? -- How Is Market Risk Measured by a Bank? -- The Greeks -- VaR.