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About the Role

Clear Street is seeking a highly experienced product control professional to build and lead the firm's Product Control function from the ground up. You will own independent price verification (IPV), daily P&L production and sign-off, and the broader product control framework. You will work directly with Finance leadership and partner tightly with Trading, Risk, Operations, and Technology. The role requires deep technical expertise in derivatives valuation and structured products, organizational capability to build a function, and a hands-on approach in a lean team environment. You will initially manage one existing analyst while building out the team over time.

Responsibilities

Design and implement the firm's end-to-end Product Control function, including policies, procedures, controls framework, and governance.
Establish the IPV framework across all asset classes: equities, listed options, fixed income, futures, OTC derivatives (IRS, CDS, equity swaps, TRS, FX), synthetic financing, crypto, and prediction markets.
Define escalation protocols, P&L threshold tolerances, and price challenge procedures in coordination with Risk and Trading.
Partner with Technology to scope and implement a fit-for-purpose product control platform, replacing or augmenting existing tooling.
Build out the team over time, defining roles and hiring as business complexity warrants.
Own daily P&L production, attribution, and sign-off across all business lines: Cash Equity, Listed Option, Futures, Financing (cash and synthetic), Stock Loan, and Crypto.
Oversee P&L validation with desk heads prior to release; manage and resolve P&L disputes with traders.
Oversee the existing analyst who performs daily revenue reporting and supports month-end close.
Ensure accurate new trade capture and P&L explain across all books.
Design and operate robust IPV processes using independent market data sources (broker quotes, vendor marks, traded prices, model outputs).
Establish and document valuation methodologies for each asset class, with particular rigor on OTC and hard-to-price instruments.
Challenge front-office marks where appropriate; maintain and defend an audit trail.
Develop price testing tolerance grids and escalation matrices in coordination with Risk and CFO.
Build controls and IPV frameworks for OTC derivatives including equity swaps, TRS, variance swaps, basket products, and other structured instruments as the business scales.
Partner with Legal, Compliance, and Risk on Dodd-Frank / CFTC reporting, margin, and booking requirements.
Support the build-out of the Security-Based Swap Dealer (SBSD) and OTC Swap Dealer infrastructure and control requirements from a product control perspective.
Partner with Accounting on month-end P&L close, ensuring consistency between trading books and the general ledger.
Own the balance sheet substantiation for trading assets and liabilities, including derivatives fair value and financing positions.
Support the production of management reporting packs and investor / board materials as relevant.
Own the fair value hierarchy analysis (Level 1 / 2 / 3) for all trading inventory.
Develop and maintain the product control policy suite and procedures manual.
Act as the primary point of contact for internal audit, external auditors, and regulators on product control matters.
Identify and remediate control gaps; track issues to resolution.
Drive automation of manual controls and processes in close coordination with Technology.

Requirements

10+ years in product control, financial control, or valuation at a broker-dealer, investment bank, or prime brokerage.
Demonstrable experience building or significantly scaling a Product Control or IPV function.
Deep expertise in OTC derivatives product control: equity swaps, TRS, variance swaps, credit derivatives, rates, and / or FX.
Prior exposure to CFTC-regulated entities (swap dealers, FCMs, or DCOs) strongly preferred.
Meaningful experience across at least several of: equities, options, futures, prime brokerage, securities financing, and cleared derivatives.
Crypto asset experience a meaningful plus given our expanding digital assets business.
Demonstrated ability to hire, develop, and retain talent.
Highly collaborative; able to work constructively with traders, risk managers, operations, and accountants.
Comfortable challenging front office on pricing and P&L in a professional, evidence-based manner.
Thrives in a fast-moving, ambiguous environment; gets things done without waiting for perfect infrastructure.
Exceptional attention to detail with strong written and verbal communication skills.

Skills

Derivatives valuation
Structured products
Independent price verification (IPV)
Daily P&L production
Product control framework
Derivatives pricing
Greeks
Yield curves
Vol surfaces
Credit spreads
Fair value adjustment frameworks (CVA/DVA/FVA)
P&L attribution methodologies
Excel for data analysis
Trading systems
GAAP fair value accounting (ASC 820)
Financial statement presentation

Location

New York, NY

Work Type

Onsite (4 days per week)

Experience Level

10+ years

Salary/Compensations

$160,000-$225,000

Benefits

Company equity
401k matching
Gender-neutral parental leave
Full medical, dental, and vision insurance
Lunch stipends
Fully stocked kitchens
Happy hours

About the Company

Clear Street is modernizing the brokerage ecosystem.
Founded in 2018, Clear Street is a diversified financial services firm replacing the legacy infrastructure used across capital markets.
We started from scratch by building a completely cloud-native clearing and custody system designed for today's complex, global market.
Clear Street's proprietary prime brokerage platform adds significant efficiency to the market, while focusing on minimizing risk, redundancy, and cost for clients.
Our goal is to create a single source-of-truth platform for every asset class, in every country, and in any currency.
By combining highly-skilled product and engineering talent with seasoned finance professionals, we're building the essentials to compete in today's fast-paced markets.

Equal Opportunity

We believe that modern workplaces succeed by virtue of having high-performance workforces that are diverse — in ideas, in cultures, and in experiences.
We put in the effort to make such a workplace a daily reality and are proud to be an equal opportunity employer.