AVP - Hedge Accounting

Job description

Treasury Finance

The Treasury function is aligned in a matrix structure around Global Disciplines (Capital & Leverage; Transfer Pricing; Funding & Liquidity; Capital Markets Execution; Treasury Funding & Investment) and Global Services (Investment Banking Coverage; Banking Book Coverage; Planning & Forecasting; Balance Sheet Analytics; Treasury Transformation; Structural Reform; COO).

The Treasury function is responsible for the management and execution of the Group's capital, funding and liquidity risks and requirements to meet its purpose which is to balance the supply and demand of money and capital to create sustainable value.

Within Treasury Finance, the Hedge Accounting team provides finance support and control to manage the P&L volatility on Group Treasury's interest rate hedging portfolio. This is done through the use of cash flow and fair value hedge accounting.

Role Purpose


The Hedge Accounting team is responsible for working with Treasury to help minimise the effects of accounting asymmetry arising from the bank's economic hedging of interest rate risk in the banking book. Also to ensure that hedge accounting processes and financial reporting are in compliance with the relevant accounting and control standards.

Key Accountabilities


This role will cover the following:
· Involvement in running month end process in relation to Fair Value and Cash Flow hedges, including analysing hedge effectiveness results, posting the required journals, and performing reconciliation to attest the validity of balances in the ledger
· balance sheet and income statement related to hedge accounting review activity, including month end analytical review and preparing monthly, quarterly and annual disclosures
· assisting businesses with ad-hoc queries related to hedge accounting
· assisting the team in Chennai, when required, in designating cash flow and fair value hedge accounting relationships in line with the existing risk management methodology
· ensuring controls and processes reflect changes in business practices and are kept up to date
· assisting Structural Reform team in implementing improvements to the existing hedge accounting system

Stakeholder management and leadership

Key stakeholders are Treasury front office (ALME and TIF desks), Risk, Product Control and Financial Reporting teams

Decision making and problem solving

· Required to perform month end analytical review of the balance sheet and P&L
· Successful applicants should be prepared to seek out process and reporting efficiency opportunities
· Other ad hoc requests and analysis, as the role requires

Person Specification
· Qualified Accountant with experience or understanding of financial products and accounting under IFRS
· Ability to problem solve and work through unfamiliar situations to propose sensible solutions
· An ability to understand the detail, as well as the high level picture
· Immediate MS Excel based analytical ability
· Working knowledge of, or desire to learn about, hedge accounting under IFRS an advantage
· Logical, collaborative mindset with good attention to detail

Risk and Control Objective

All Barclays colleagues have to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards

Benefits

Our customers deserve the best. The same goes for our employees. That's why at Barclays you'll receive a range of benefits that include a competitive salary and all the tools, technology and support you need to succeed.


Our Culture

Everything we do is shaped by the five values of Respect, Integrity, Service, Excellence and Stewardship. The values inform the foundations of our relationships with customers and clients, but they also shape how we measure and reward the performance of our employees. Simply put, success is not just about what you achieve, but about how you achieve it.

Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.

Barclays is an equal opportunity employer and are opposed to discrimination on any grounds. For more detailed information, please visit our dedicated Diversity and Inclusion site here .