VP, Senior Hedge Accountant - global bank

VP, Senior Hedge Accountant - global bank

Banking & Financial Services

Docklands Canary Wharf located Global bank, treasury finance team effectively a hybrid of product control, treasury finance (accounting), bp&a, finance business partnering.

Prestigious brand, household name.

Description

VP, Senior Hedge Accountant - global bank

Banking & Financial Services

Docklands Canary Wharf

Role Purpose:

• To develop detailed understanding of the Hedge Accounting Control Framework
• Knowledge of the content and principals of the Hedge Accounting
• Develop a strong relationship with FO and advise them on all hedge accounting related subjects including advising on possibility of hedge accounting on new transactions
• To oversee daily and monthly activities (daily P&L, BS substantiation) related to hedge accounting books
• To lead the teams off and near-shore teams
• To oversee the hedge accounting activities in the EMEA region, including advising on transactions and attending their governance committees
• To be involved in projects related to hedge accounting/processes
• To work closely with the Global Hedging Unit to drive consistency in implementation of the hedge accounting control framework
• To identify areas for process improvements and increase the efficiency of existing process by re-engineering them as required
• Interact with all relevant stakeholders (Accounting Policy, Asset Liability and Capital Management, Businesses undertaking hedge accounting, local Hedging Units in EMEA)
• To communicate risk and control framework and technical accounting requirements in a way that non-experts can understand
• To build relationships with key stakeholders including other Product Control Functions, IT, Operations, Front Office, Group Finance, Valuations

Major Challenges:

• Hedge accounting carries with it a high degree of both operational and accounting risk and the role will focus on ensuring risk is reduced and control frameworks operate consistently
• Accounting Complexity - Stringent accounting rules for the different types of hedges which need to be complied with to ensure that the results of hedging are accurately reflected in the accounting records
• Ongoing Monitoring - Complex testing processes are required to be performed and evidenced throughout the life of the hedge
• Change - Desire to continually improve, simplify and update processes and controls where required
• Build relationships within and outside Product Control - Accounting Policy, Front Office, Asset Liability and Capital Management, Market Risk, PC

Observation of Internal Controls:

• Maintain internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators

Profile

Education & Experience:
* Experience in Hedge Accounting is necessary, either hedge accounting operations
* Experience in Interest Rate Products / Derivatives is necessary (Bonds, Swaps, and Money Market Products)
* Accounting Qualification / Qualification in Finance is preferred (ACA, CFA, Masters in Finance)
* Numerate skills are a must
* Experience of Risk and Control Framework review (Audit, SOX, Risk)

Skills:
* Strong Analytical and Project Management skills
* Excellent communication skills
* Ability to independently review and challenge as appropriate
* Self-motivated with drive to deliver change

Job Offer

• Base £75,000 - £85,000
• Exceptional market leading company benefits package
• Competitive bonus scheme (discretionary)