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Quantitative Finance · Glossary

What is Control function?

Definition 24.1 The Industry: Firms, Roles and Careers · Chapter 24 — Risk, Operations, Product Control and Compliance

A control function is an organisational unit, independent of the businesses it oversees, whose job is to measure, check and limit what those businesses do: risk management, compliance and internal audit in the regulators’ list, and in trading firms also product control, which checks the profit and loss the front office reports.

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