# Head of Product Control & IPV

**Company:** [Clear Street](https://hotfix.jobs/companies/clear-street)
**Location:** New York, NY
**Role:** Finance & Accounting
**Salary:** $160k – $225k/yr
**Experience:** 10+ years
**Skills:** product control, independent price verification, otc derivatives, p&l attribution, derivatives pricing, greeks, yield curves, volatility surfaces, credit spreads, bloomberg, Excel, trading systems, asc 820, cftc, dodd-frank
**Posted:** 2026-08-05

> Leads the build-out of Clear Street’s Product Control and IPV function, owning daily P&L, valuation controls, derivatives oversight, governance, and team growth. Requires 10+ years of product control or valuation experience, deep OTC derivatives expertise, and strong fair-value accounting knowledge.

## Job Description

## Responsibilities

### Product Control Build-Out
- Design and implement the firm's end-to-end Product Control function, including policies, procedures, controls framework, and governance.
- Establish the independent price verification (IPV) framework across equities, listed options, fixed income, futures, OTC derivatives, synthetic financing, crypto, and prediction markets.
- Define escalation protocols, P&L threshold tolerances, and price challenge procedures with Risk and Trading.
- Partner with Technology to implement a product control platform.
- Build out the team over time, defining roles and hiring as business complexity warrants.

### Daily P&L and Revenue Reporting
- Own daily P&L production, attribution, and sign-off across cash equities, listed options, futures, financing, stock loan, and crypto.
- Oversee P&L validation with desk heads and resolve P&L disputes with traders.
- Manage the existing analyst responsible for daily revenue reporting and month-end close support.
- Ensure accurate new trade capture and P&L explanation across all books.

### Independent Price Verification
- Design and operate IPV processes using independent market data sources, including broker quotes, vendor marks, traded prices, and model outputs.
- Establish and document valuation methodologies for each asset class, with particular rigor for OTC and hard-to-price instruments.
- Challenge front-office marks and maintain a defensible audit trail.
- Develop price-testing tolerance grids and escalation matrices with Risk and the CFO.

### Derivatives and Swap Dealer Readiness
- Build controls and IPV frameworks for OTC derivatives, including equity swaps, total return swaps, variance swaps, basket products, and other structured instruments.
- Partner with Legal, Compliance, and Risk on Dodd-Frank and CFTC reporting, margin, and booking requirements.
- Support Security-Based Swap Dealer and OTC Swap Dealer infrastructure and control requirements.

### Month-End Close and Reporting
- Partner with Accounting on month-end P&L close and consistency between trading books and the general ledger.
- Own balance-sheet substantiation for trading assets and liabilities, including derivatives fair value and financing positions.
- Support management reporting packs and investor or board materials.
- Own fair-value hierarchy analysis for trading inventory.

### Governance and Controls
- Develop and maintain the product control policy suite and procedures manual.
- Serve as the primary point of contact for internal audit, external auditors, and regulators on product control matters.
- Identify and remediate control gaps and track issues to resolution.
- Drive automation of manual controls and processes with Technology.

## Requirements

### Experience
- 10+ years of experience in product control, financial control, or valuation at a broker-dealer, investment bank, or prime brokerage.
- Experience building or significantly scaling a Product Control or IPV function.
- Deep expertise in OTC derivatives product control, including equity swaps, total return swaps, variance swaps, credit derivatives, rates, and/or FX.
- Prior exposure to CFTC-regulated entities is strongly preferred.
- Experience across several of equities, options, futures, prime brokerage, securities financing, and cleared derivatives.
- Crypto asset experience is a plus.

### Technical Skills
- Expert understanding of derivatives pricing and valuation, including Greeks, yield curves, volatility surfaces, credit spreads, and fair-value adjustment frameworks.
- Strong understanding of P&L attribution methodologies across asset classes.
- Familiarity with Bloomberg, Reuters/Refinitiv, Markit/IHS Markit, SuperDerivatives, or equivalent pricing sources.
- Proficiency in Excel for data analysis and familiarity with trading systems.
- Understanding of GAAP fair-value accounting, including ASC 820, and financial statement presentation for trading entities.

### Leadership
- Ability to hire, develop, and retain talent while building a team from a small starting group.
- Collaborative approach with traders, risk managers, operations, and accountants.
- Ability to challenge front-office pricing and P&L professionally and based on evidence.
- Comfort working in a fast-moving, ambiguous environment.
- Exceptional attention to detail and written and verbal communication skills.

## Compensation and Benefits
- Base salary range: **$160,000-$225,000**.
- The range represents base salary only and excludes bonuses and equity.
- Company equity and 401(k) matching.
- Gender-neutral parental leave.
- Medical, dental, and vision insurance.
- Employees are expected to work in the office 4 days per week.
- In-office benefits include lunch stipends, stocked kitchens, and happy hours.

## Similar roles

- [Director of Finance](https://hotfix.jobs/jobs/27057e82-bc1a-4f75-b16c-e53692e14252) - Layer Health - Boston, MA - $160k – $200k/yr
- [Director, FP&A - Growth](https://hotfix.jobs/jobs/1c09ab45-4b68-4fcb-8dac-5579382487fb) - Rover - Seattle, WA - $159k – $211k/yr
- [GTM Finance Senior Manager / Director](https://hotfix.jobs/jobs/77c3b0e1-6875-4c7d-ae67-00ad60673adb) - SmithRx - Remote - $162k – $264k/yr
- [Director, Financial Systems](https://hotfix.jobs/jobs/822fbc69-7df1-4145-bc08-b7de6763a621) - ZoomInfo - Bethesda, MD - $155k – $244k/yr
- [Director of Financial Planning & Analysis](https://hotfix.jobs/jobs/679eb9f8-765c-4518-a8b2-33034bb77e17) - Wowza Media Systems - Lakewood, CO - $165k – $185k/yr

**Apply:** https://hotfix.jobs/jobs/2ee6c5fc-755d-450e-bd7e-f907319dcb8c
**Canonical:** https://hotfix.jobs/jobs/2ee6c5fc-755d-450e-bd7e-f907319dcb8c