Product Control Operating Model & Controls Dashboard
AI‑ready operating model for daily P&L, IPV, valuation reserves (XVA), and GL reconciliation — with a live dashboard for sign‑offs, exceptions, and close timeliness.
Role: Head of Managed Services & PMO, Product Control Partner
Team: Product Control, Market Risk, Finance Reporting, Model Validation
Goal: Deliver accurate, explainable daily results and an audit‑ready control stack.
<5% unexplained P&L sustained
>98% IPV completion and auditable evidence
35–45% faster close and MI timeliness
Context
Rates, credit, and FX trading desks required fast, accurate daily results with clear attribution and robust evidence for audit. Legacy processes slowed IPV, obscured reserves, and allowed reconciliation breaks to age.
Approach
- Standardised P&L explain categories; automated variance alerts and controller sign‑off thresholds.
- Independent Price Verification (IPV) with tolerance bands, data hierarchy, and exception workflow.
- Policy‑driven valuation adjustments (CVA/DVA/FVA), model & liquidity reserves with evidence packs.
- GL reconciliation: FO → PC → GL mapping with aged‑break dashboards.
- Self‑serve MI (Next.js + Recharts) with near‑real‑time KPIs for sign‑offs and exceptions.
- Optional API powering dynamic demo data; Slack/Email hooks for escalations.
- Product requirement defined: "As a controller, surface unexplained P&L > 5% and route for review within T+1."
Live Controls Dashboard
Embedded dashboard showing KPI cards, P&L attribution, monthly explain, and control breaches. Data loads dynamically from /api/product-control with a safe fallback.
Product Control Dashboard
Month-End: Oct 2025 • Desk: Rates & Credit Trading
96.4%
Target: 95%
99.1%
Target: 98%
1.7%
Target: 2%
100%
Target: 100%
Share of total explained P&L (%)
Percentage of P&L explained by month
Monitored exceptions with SLA-based escalation
| Control Breach | Owner | Aging | Status |
|---|---|---|---|
| IPV Tolerance >3bps | Nash | 2 days | Under review |
| Recon Break - Repo Desk | Smith | 7 days | Escalated |
| Reserve Shortfall | Chan | 1 day | Resolved |
Outcome & Impact
- Reduced month‑end close time by 35–45% with consistent sign‑offs and MI cadence.
- Achieved >98% IPV completion; created audit‑ready evidence packs.
- Sustained <5% unexplained P&L and <2% aged reconciliation breaks > 5 days.
Next Steps / Learning
Expand anomaly detection on price and P&L outliers; integrate narrative summaries for CFO packs; align with FRTB disclosure and enhance reserve back‑testing.