Hedge Accounting Specialist

Hedge Accounting Specialist

Posted 1 day ago by JSS Search

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Negotiable
Undetermined
Hybrid
London Area, United Kingdom
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Accounting Accruals Amortisation Balance Sheet Banking Business Requirements Cash Flows Collateral Management Debits And Credits Derivatives Equity and Debt Fair Value Finance Financial Data Financial Services Financial Statements Hedge Accounting Hedging Income Statement International Financial Reporting Standards Investments Journals Management Management Systems Month-End Closing Process Improvement Stakeholder Management Technical Accounting Treasury Management User Acceptance Testing (UAT)

Summary: The Hedge Accounting Specialist role involves managing the end-to-end hedge accounting process for a challenger bank, focusing on month-end activities and the implementation of a new Treasury Management System. This hands-on position requires a blend of technical accounting skills and process improvement expertise. The role is based in Central London with hybrid working arrangements and is offered as a 6-month fixed-term contract with potential for extension.

Key Responsibilities:

  • Own the end-to-end hedge accounting process, including designation documentation, effectiveness testing, and preparing hedge accounting journal entries.
  • Act as the SME for hedge accounting during the TMS implementation, including gathering business requirements and participating in user acceptance testing.
  • Prepare monthly and quarterly hedge accounting reports, including disclosures for financial statements.
  • Analyse the impact of hedge relationships on the P&L and balance sheet.
  • Ensure collateral recognition, interest accruals, and netting arrangements are accurately reflected.
  • Reconcile cash movements with treasury and collateral management systems.
  • Account for bond investments under amortised cost, FVOCI, or FVTPL categories.
  • Monitor interest accruals, premium/discount amortisation, and impairment (ECL).
  • Provide valuations and reconcile with front-office/treasury systems.
  • Work closely with Treasury, Finance, Risk, and Technology teams to ensure the integrity of financial data.
  • Liaise with external auditors on complex treasury accounting areas.
  • Support other Treasury and accounting projects as needed.

Key Skills:

  • Experienced in hedge accounting within the banking or financial services sector.
  • Deep understanding of IFRS 9, IAS 39, and IFRS 7 disclosure requirements.
  • Strong knowledge of derivatives, debt instruments, and structured products.
  • Proven experience using and optimising a Treasury Management System.
  • Excellent written and verbal communication skills.
  • Able to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively.

Salary (Rate): undetermined

City: London

Country: United Kingdom

Working Arrangements: hybrid

IR35 Status: undetermined

Seniority Level: undetermined

Industry: Other

Detailed Description From Employer:

Hedge Accounting Specialist 6 Month Contract (potential to extend) Fixed Term Contract Central London - Hybrid working I'm recruiting for a Hedge Accounting Specialist role to look after the month-end, optimise current processes and support the implementation of a new Treasury Management System for a challenger bank. This is a hands-on role that combines technical accounting expertise with system and process improvement.

Key Responsibilities:

  • Own the end-to-end hedge accounting process, including designation documentation, effectiveness testing (both prospective and retrospective), and preparing hedge accounting journal entries for both cash flow and fair value hedges.
  • Act as the SME for hedge accounting during the TMS implementation. This includes gathering business requirements, participating in user acceptance testing (UAT), and helping to design and configure the system's hedge accounting module.
  • Prepare monthly and quarterly hedge accounting reports, including disclosures for financial statements.
  • Analyse the impact of hedge relationships on the P&L and balance sheet.
  • Ensure collateral recognition, interest accruals, and netting arrangements are accurately reflected.
  • Reconcile cash movements with treasury and collateral management systems.
  • Account for bond investments under amortised cost, FVOCI, or FVTPL categories.
  • Monitor interest accruals, premium/discount amortisation, and impairment (ECL).
  • Provide valuations and reconcile with front-office/treasury systems.
  • Work closely with the Treasury, Finance, Risk, and Technology teams to ensure the integrity of financial data and the seamless integration of the hedging activities within the new system.
  • Liaise with external auditors on complex treasury accounting areas.
  • Support other Treasury and accounting projects as needed.

Requirements:

  • Experienced in a hedge accounting within the banking or financial services sector
  • Deep understanding of IFRS 9 (hedge accounting, classification & measurement, expected credit losses).
  • Strong knowledge of IAS 39 (for legacy hedges) and IFRS 7 disclosure requirements.
  • Familiarity with derivatives (swaps, forwards, options), debt instruments, and structured products.
  • Proven experience using and optimising a Treasury Management System
  • Excellent written and verbal communication skills, with the ability to explain complex accounting concepts to non-finance stakeholders.
  • The ability to thrive in a fast-paced, dynamic environment and manage multiple priorities effectively.

Unfortunately our client cannot provide visa sponsorship for this role.

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