Hedge Accounting AVP

1 month ago

London, UK, United Kingdom Barclays Full time

The Treasury HA function sits at the centre of Treasury’s risk management activities, often acting as a key business partner to the Treasury function; helping to deliver accounting solutions that reduce the firm’s volatility of earnings experienced through fair value accounting. The role is principally responsible for monthly monitoring and reporting of segmental (head office) and statutory P&L, and model management of certain bespoke hedge accounting activities. The team has wide diversity in responsibilities and interacts with stakeholders from multiple FTCs across the bank.

Key Accountabilities

  • Understanding and reporting across multiple entities in a solus and consolidated lens, forging stakeholder relationships at each entity level
  • Ledger management, control and journal execution in a complex accounting discipline
  • Review, build and run regression models and trade pricing tools that underpin bespoke trading strategies supported by Hedge Accounting
  • Identify and develop ‘lean’ ways of working; leveraging Product Control tools where possible
  • Manage and support technology development of in-house Hedge Accounting platform and related models
  • Develop an understanding of how potential rates movement in the UK, US and across the Globe impacts Hedge Accounting’s ability to mitigate P&L volatility and support resolution analytics on an ongoing basis

Essential Skills/Basic Qualifications:

  • Basic hedge accounting knowledge [cash flow and fair value] would be advantageous, ideally gathered in a financial institution with interest rates being the key managed risk
  • Excellent Excel skills (VBA, SQL, Python highly desirable but not necessary)
  • Demonstrable experience of participating in change projects
  • Desirable experience of linking entity results through to financial statement production
  • Fully qualified accountant
  • Degree (or higher) educated

You may be assessed on key critical skills relevant for success in role, such as risk and controls, change and transformation, business acumen, strategic thinking and digital and technology, as well as job-specific technical skills.

Purpose of the role

To report and analyse hedging relationships, identify potential hedge accounting opportunities, and implement effective hedging strategies to mitigate accounting asymmetry risk.

Accountabilities

  • Design and implementation of effective hedge accounting strategies that support the banks overall risk management framework and adjust as needed to maintain hedge effectiveness and respond to changes in market conditions.
  • Assessment of potential hedge accounting relationships between financial instruments, considering factors such as effectiveness, designation, and hedge ratio.
  • Preparation and maintenance of comprehensive hedge accounting documentation, including hedge designation reports, effectiveness testing results, and fair value measurements and ensure that hedge accounting documentation is accurate, compliant with accounting standards, and readily available for audit review.
  • Fair value measurements for financial instruments, including both hedged and hedging instruments, using appropriate valuation methodologies, and calculation and recording of hedge accounting adjustments, including hedge ineffectiveness adjustments, to reflect the impact of hedging relationships on the financial statements.
  • Management of regular effectiveness testing of hedging relationships to assess whether they continue to meet the requirements for hedge accounting, and evaluation of the effectiveness of hedging strategies and adjust as needed to maintain hedge effectiveness.
  • Report the internal and external statutory view of hedge accounting effectiveness for presentation into Barclays Annual Accounts.

Assistant Vice President Expectations

  • Consult on complex issues; providing advice to People Leaders to support the resolution of escalated issues.
  • Identify ways to mitigate risk and developing new policies/procedures in support of the control and governance agenda.
  • Take ownership for managing risk and strengthening controls in relation to the work done.
  • Perform work that is closely related to that of other areas, which requires understanding of how areas coordinate and contribute to the achievement of the objectives of the organisation sub-function.
  • Collaborate with other areas of work, for business aligned support areas to keep up to speed with business activity and the business strategy.
  • Engage in complex analysis of data from multiple sources of information, internal and external sources such as procedures and practises (in other areas, teams, companies, etc).to solve problems creatively and effectively.
  • Communicate complex information. Complex information could include sensitive information or information that is difficult to communicate because of its content or its audience.
  • Influence or convince stakeholders to achieve outcomes.

All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.

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