{"product_id":"effective-product-control-isbn-9781118939819","title":"Effective Product Control","description":"\u003cp\u003e\u003cb\u003eImprove the Effectiveness of your Product Control Function\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eEffective Product Control \u003c\/i\u003eis a detailed how-to guide covering everything you need to know about the function. Considered essential reading for: \u003c\/p\u003e \u003cul\u003e \u003cli\u003eNew controllers entering the profession\u003c\/li\u003e \u003cli\u003eAuditors and regulators reviewing product control\u003c\/li\u003e \u003cli\u003eEstablished controllers wanting a refresher on the latest skills and core controls within the industry.\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eEncompassing both a technical skills primer and key insights into core controls used to mit­igate major risks emanating from trading desks, you will get expert advice on practical topics such as: \u003c\/p\u003e \u003cul\u003e \u003cli\u003eThe key IFRS and U.S. GAAP accounting standards for a trading desk\u003c\/li\u003e \u003cli\u003eHow to approach the pricing of a financial instrument\u003c\/li\u003e \u003cli\u003eMarket risk and how is it quantified\u003c\/li\u003e \u003cli\u003eThe controls necessary for a trading desk\u003c\/li\u003e \u003cli\u003eRogue trading and how it can be detected\u003c\/li\u003e \u003cli\u003eValuation adjustments and why they are necessary\u003c\/li\u003e \u003cli\u003eHow the prices used to value a trading portfolio are independently verified\u003c\/li\u003e \u003cli\u003eThe financial accounting entries used to record financial instruments in the balance sheet and profit \u0026amp; loss statement\u003c\/li\u003e \u003cli\u003eFinancial reporting and how the results of a trading desk are presented\u003c\/li\u003e \u003cli\u003eHow a new financial product can be introduced in a controlled manner\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eComplete with a wealth of insightful graphs, illustrations and real-world examples to enliven the covered material, the dependable answers you need are in \u003ci\u003eEffective Product Control\u003c\/i\u003e.   \u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgements xv\u003c\/p\u003e \u003cp\u003eAbout the Author xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART ONE Working in Product Control\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 An Introduction to Product Control 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Emergence of Product Control 3\u003c\/p\u003e \u003cp\u003eThe Purpose of Product Control 3\u003c\/p\u003e \u003cp\u003eDifferent Types of Product Control 5\u003c\/p\u003e \u003cp\u003eSkills, Qualifications and Experience 6\u003c\/p\u003e \u003cp\u003eOrganizational Structure 8\u003c\/p\u003e \u003cp\u003eThe Desk 10\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Changing Landscape of Product Control 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOffshoring 15\u003c\/p\u003e \u003cp\u003eXVA 19\u003c\/p\u003e \u003cp\u003eGreater Levels of Capital 19\u003c\/p\u003e \u003cp\u003eGreater Focus on Liquidity 20\u003c\/p\u003e \u003cp\u003eNotes 21\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Key Stakeholders 23\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFront Office: Sales and Trading Desk 23\u003c\/p\u003e \u003cp\u003eChief Operating Officers (COOs) 25\u003c\/p\u003e \u003cp\u003eOperations 26\u003c\/p\u003e \u003cp\u003eMiddle Office 27\u003c\/p\u003e \u003cp\u003eMarket Risk 28\u003c\/p\u003e \u003cp\u003eFinancial Reporting 29\u003c\/p\u003e \u003cp\u003eManagement Reporting 29\u003c\/p\u003e \u003cp\u003eFinance Change 30\u003c\/p\u003e \u003cp\u003eIT 30\u003c\/p\u003e \u003cp\u003eOperational Risk 32\u003c\/p\u003e \u003cp\u003eRegulatory Reporting 32\u003c\/p\u003e \u003cp\u003eAccounting Policy 34\u003c\/p\u003e \u003cp\u003eTax 34\u003c\/p\u003e \u003cp\u003eAudit 36\u003c\/p\u003e \u003cp\u003eFinance Shared Service 37\u003c\/p\u003e \u003cp\u003eSummary 37\u003c\/p\u003e \u003cp\u003eNotes 37\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART TWO \u003c\/b\u003e\u003cb\u003eTechnical Skills\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Accounting Standards: Recognition and Measurement 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIAS 39 Financial Instruments: Recognition and Measurement 42\u003c\/p\u003e \u003cp\u003eIFRS 9: Financial Instruments 60\u003c\/p\u003e \u003cp\u003eIFRS 13: Fair Value Measurement 66\u003c\/p\u003e \u003cp\u003eNotes 71\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Market Risk 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is Market Risk and How Is It Generated? 75\u003c\/p\u003e \u003cp\u003eHow Is Market Risk Measured by a Bank? 77\u003c\/p\u003e \u003cp\u003eNote 85\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Pricing Financial Instruments 87\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow to Approach the Pricing of a Financial Instrument 87\u003c\/p\u003e \u003cp\u003ePricing Examples 89\u003c\/p\u003e \u003cp\u003eNotes 105\u003c\/p\u003e \u003cp\u003eCHAPTER 7 Internal Control 107\u003c\/p\u003e \u003cp\u003eWhat Is Internal Control? 107\u003c\/p\u003e \u003cp\u003eEstablishing an Internal Control Framework 110\u003c\/p\u003e \u003cp\u003eExample of Front to Back Internal Controls 117\u003c\/p\u003e \u003cp\u003eNotes 122\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART THREE \u003c\/b\u003e\u003cb\u003eProfit and Loss Controls\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 System Feeds, End of Day Rates and Profit and Loss Estimates 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSystem Feeds 127\u003c\/p\u003e \u003cp\u003eEnd of Day 129\u003c\/p\u003e \u003cp\u003eEnd of Day Rates 130\u003c\/p\u003e \u003cp\u003eP\u0026amp;L Estimate 135\u003c\/p\u003e \u003cp\u003eNote 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 Review of New and Amended Trades 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNew Trades 137\u003c\/p\u003e \u003cp\u003eAmended Trades 152\u003c\/p\u003e \u003cp\u003eNotes 164\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 Review of Mark-to-Market P\u0026amp;L 165\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining Mark-to-Market P\u0026amp;L 165\u003c\/p\u003e \u003cp\u003eAttributing MTM P\u0026amp;L 166\u003c\/p\u003e \u003cp\u003eRisk-Based P\u0026amp;L Estimates 170\u003c\/p\u003e \u003cp\u003eChanges in the End of Day Prices 173\u003c\/p\u003e \u003cp\u003eWhen to Validate the MTM P\u0026amp;L 176\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11 Funding, Fees and Charges 177\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFunding 177\u003c\/p\u003e \u003cp\u003eFees and Charges 185\u003c\/p\u003e \u003cp\u003eNote 187\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12 Profit and Loss Adjustments 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Need for P\u0026amp;L Adjustments 189\u003c\/p\u003e \u003cp\u003eControlling P\u0026amp;L Adjustments 190\u003c\/p\u003e \u003cp\u003eNotes 194\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 13 Profit and Loss Commentary 195\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWho Is the Reader? 198\u003c\/p\u003e \u003cp\u003eWhen Is P\u0026amp;L Commentary Required? 198\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 14 Profit and Loss Reconciliations and Sign-Offs 201\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFlash vs. Actual 201\u003c\/p\u003e \u003cp\u003eDesk P\u0026amp;L Sign-off 203\u003c\/p\u003e \u003cp\u003eP\u0026amp;L Reconciliation 205\u003c\/p\u003e \u003cp\u003ePART FOUR\u003c\/p\u003e \u003cp\u003eValuations\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 15 Independent Price Verification 209\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eComponents to IPV Process 210\u003c\/p\u003e \u003cp\u003eNote 224\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 16 Valuation Adjustments 225\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Valuation Adjustments Are Required 225\u003c\/p\u003e \u003cp\u003eBid–Offer 225\u003c\/p\u003e \u003cp\u003eDay 1 Reserves 234\u003c\/p\u003e \u003cp\u003eModel Valuation Adjustment 234\u003c\/p\u003e \u003cp\u003eXVA and Collateral Agreements 235\u003c\/p\u003e \u003cp\u003eRecording and Reporting of VAs 239\u003c\/p\u003e \u003cp\u003eNotes 239\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART FIVE \u003c\/b\u003e\u003cb\u003eBalance Sheet Controls\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 17 Balance Sheet Substantiation and Analysis 243\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSubstantiating the Balance Sheet 243\u003c\/p\u003e \u003cp\u003eFrequency of the Balance Sheet Substantiation 248\u003c\/p\u003e \u003cp\u003eEvidencing the Balance Sheet Substantiation 249\u003c\/p\u003e \u003cp\u003eUnsupported Balances 249\u003c\/p\u003e \u003cp\u003eLines of Responsibility 255\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 18 Dividending of Profit and Loss and FX Selldown 257\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 19 Controlling Nostros 261\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction to Nostros 261\u003c\/p\u003e \u003cp\u003eControlling Nostros – Cash Breaks 262\u003c\/p\u003e \u003cp\u003eRisk-Weighting Cash and AVE breaks 266\u003c\/p\u003e \u003cp\u003eProvisioning for Nostro and AVE Breaks 267\u003c\/p\u003e \u003cp\u003eNotes 268\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART SIX Financial Accounting and Reporting\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 20 Financial Accounting Entries 271\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinancial Accounting Entries 271\u003c\/p\u003e \u003cp\u003eChart of Accounts 284\u003c\/p\u003e \u003cp\u003eAccounting Rules Engine 286\u003c\/p\u003e \u003cp\u003eNotes 289\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 21 Financial Reporting and Note Disclosures 291\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eContext of Financial Reporting 291\u003c\/p\u003e \u003cp\u003eProfit and Loss 293\u003c\/p\u003e \u003cp\u003eBalance Sheet 295\u003c\/p\u003e \u003cp\u003eNetting 297\u003c\/p\u003e \u003cp\u003eFair Value Hierarchy 304\u003c\/p\u003e \u003cp\u003eNotes 309\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART SEVEN \u003c\/b\u003e\u003cb\u003eSupplementary Controls\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 22 New Product Proposals 313\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStarting Line 313\u003c\/p\u003e \u003cp\u003eThe Review 314\u003c\/p\u003e \u003cp\u003eThe Sign-Off 319\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 23 Rogue Trading 321\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Forefathers of Rogue Trading 321\u003c\/p\u003e \u003cp\u003eThe Fallout from Rogue Trading – The Bank 323\u003c\/p\u003e \u003cp\u003eThe Fallout from Rogue Trading – The Industry 325\u003c\/p\u003e \u003cp\u003eGoing Rogue 325\u003c\/p\u003e \u003cp\u003eUBS Rogue Trading Incident, 2011 327\u003c\/p\u003e \u003cp\u003eNotes 343\u003c\/p\u003e \u003cp\u003eIndex 347\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePETER NASH\u003c\/b\u003e is a qualified accountant who has spent almost two decades controlling a wide range of sales and trading desks in Investment and Commercial banks. He is currently a Director of FINSED (www.finsed.com), a financial services training and consulting firm specialising in product control.\u003c\/p\u003e  \u003cp\u003eProduct control is already a crucial control function in banks, hedge funds and corporate treasuries, yet there hasn’t been an authoritative reference to turn to for control standards – until \u003ci\u003eEffective Product Control.\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eThis comprehensive guide covers everything you need to know about product control, including a technical skills primer and key insights into the core controls used to mitigate major risks emanating from trading desks. Throughout this book you will get expert advice on practical topics such as:  \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eThe key IFRS and U.S. GAAP accounting standards for a trading desk\u003c\/li\u003e \u003cli\u003eHow to approach the pricing of a financial instrument\u003c\/li\u003e \u003cli\u003eMarket risk and how is it quantified\u003c\/li\u003e \u003cli\u003eThe controls necessary for a trading desk\u003c\/li\u003e \u003cli\u003eRogue trading and how it can be detected\u003c\/li\u003e \u003cli\u003eValuation adjustments and why they are necessary\u003c\/li\u003e \u003cli\u003eHow the prices used to value a trading portfolio are independently verified \u003c\/li\u003e \u003cli\u003eThe financial accounting entries used to record financial instruments in the balance sheet and profit \u0026amp; loss statement\u003c\/li\u003e \u003cli\u003eFinancial reporting and how the results of a trading desk are presented\u003c\/li\u003e \u003cli\u003eHow a new financial product can be introduced in a controlled manner\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eComplete with a wealth of insightful graphs, illustrations and real-world examples to enliven the covered material, the dependable answers you need are in \u003ci\u003eEffective Product Control.\u003c\/i\u003e\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989107359973,"sku":"NP9781118939819","price":105.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118939819.jpg?v=1761782824","url":"https:\/\/k12savings.com\/products\/effective-product-control-isbn-9781118939819","provider":"K12savings","version":"1.0","type":"link"}