Certified Associate - Investment Banking Product Control

Product control is a control function within an Investment Bank and is responsible for safeguarding the assets of the bank. Product controllers report the daily profit and loss (P&L) and provide explanation of the P&L for the trading desk, within the bank and to regulators. This shadow accounting ensures traders mark their books to fair value prices enabling better risk management for the investment bank.

 

Skill Board Associate certification in Product Control evaluates candidates for fundamental knowledge of different asset classes, valuation of securities, P&L, balance sheet, control frameworks and the necessary skills to resolve common business problems in operations and technology enabling investment banks to function smoothly. The assessment is conducted through an online remote proctored test.

Candidates can choose between two certification options:

 

  • Certified Business Operations Associate (CBOA) - Investment Banking Product Control certification is issued to candidates with 1+ years of career experience in investment banking business operations and successfully pass the assessment for the CBOA certification.

 

  • Certified Business Technology Associate (CBTA) - Product Control certification is issued to candidates with 1+ years of career experience in securities & capital markets technology and successfully pass the assessment for the CBTA certification.

Next available assessment date:

Jun 10
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Who should get certified
  • Business Analysts with 1+ years of experience working in investment banking, asset and wealth management, custody and asset servicing.
  • Developers and QAs with 1+ years of experience working on investment banking platforms.
  • Business Operations Associates with 2+ years of experience working with investment banking firms.
  • Investment banking professionals who are exploring careers opportunities in information technology.
Candidates are evaluated for
  • Understanding of buy-side and sell-side firms, market infrastructure providers and regulators.
  • Understanding of traditional asset classes, derivatives, OTC derivatives and alternative investments.
  • Understanding of risk management concepts, control functions and valuation controls.
  • Understanding of Greeks used in financial markets for pricing and modeling.
  • Understanding of product control operations.
Maintaining the certification
  • Certified Associates are required to recertify after 3 years either by taking a recertification assessment or through continuing education credits.
  • Continuing education credits may be earned by taking industry certifications, participating in industry conferences including professional presentations and writing industry thought papers that get published on skillboard.org or other online forums.
Assessment weightage by Knowledge Area
DomainWeightage

Investment Asset Classes & Trading basics

Equities, Fixed Income, Money Markets, Foreign Exchange, Commodities, Derivatives, Trading Strategies and Position Management.

5-10%

Risk Management

Stress Testing, Creation and Analysis of Internal Control Frameworks, Risk Variance and Covariance Measurements, Simulation Techniques such as Historic and Monte Carlo Methods.

10-20%

Control Functions

Accounting Controls, Standards & Principles, US GAAP and IFRS, Financial Assets and Liabilities including Recognition & Derecognition, System Feeds, EOD Rates & P&L Estimates, Region Wise Adjustments, P&L Reconciliation, Preparation, Review and Signoff, Balance Sheet Reporting and Substantiation, Balance Sheet Variances - Analysis, Resolution and Reporting, Foreign Exchange Sell Down, Books Finalization, Intercompany Trades, Cross Border Transactions, Analysis & Review.

20-40%

Valuation Control

IPV, OMRC, Model Validation, Model Calibrations.

20-30%

Greeks

Greeks in Pricing & Risk Management, First-Order, Second-Order and Third-order Greeks, Greeks for Multi-Asset Options.

5-10%

Product control operations

Funding, Fees & Other Charges, Nostros Functions & Control, P&L Commentaries & Related Reporting, Hedging Transactions, Securitization.

10-20%

Product Knowledge

Business Types & Practices, Key Particpants/Stakeholders, Regulatory Requirements, Evolving Landscape.

10-20%