Hedge Accounting AVP

London, United Kingdom

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Date live: Sep. 10, 2024

Business Area: Finance

Area of Expertise: Finance

Reference Code: JR-0000005574

Contract: Permanent

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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 bank's 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.

More about working at Barclays

Barclays offices across the UK are designed to be places where our people can come together to do their best work, surrounded by excellent facilities for both work and leisure. These are warm, diverse, supportive communities in some of the UK’s best locations, where everyone can thrive.

At Barclays, we offer a hybrid working experience that blends the positives of working alongside colleagues at our onsite locations, together with working from home. We have a structured approach where colleagues work at an onsite location on fixed, ‘anchor’, days of the week, for a minimum of two days a week or more, as set by the business area (or nearest equivalent if working part-time hours). Please discuss the working pattern requirements for the role you are applying for with the hiring manager. Please note that as we continue to embed our hybrid working environment, we remain in a test and learn phase, which means that working arrangements may be subject to change on reasonable notice to ensure we meet the needs of our business.

Barclays welcomes applications from all candidates and is committed to ensuring reasonable adjustments (accommodations) are put in place to allow for a fair and inclusive recruitment process. For more information and how to request one, please review Adjustments to the recruitment process.

We’re committed to providing a supportive and inclusive culture and environment for you to work in. This environment recognises and supports ways to balance your personal needs, alongside the professional needs of our business.

Providing the opportunity for all our employees, globally to work flexibly empowers each of us to work in a way that suits our lives as well as enabling us to better service our customers’ and clients’ needs. Whether you have family commitments or you’re a Carer, or whether you need study time or wish to pursue personal interests, our approach to working flexibly is designed to help you balance your life. If you would like some flexibility then please discuss this with the hiring manager.

We're committed to providing a supportive and simplified experience for our candidates throughout the application and assessment process. Here, you will find information about what to expect and some guidance around your assessment and interview.

While the application process depends on the role, there are some constant steps, which are;

Step 1 - Your application
Step 2 - Your assessment
Step 3 - Your interview
Step 4 - Next steps

We aim to create an inclusive work environment where everyone can reach their full potential. If you require any adjustments to our recruitment process, please click here to learn more.

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Barclays offers a diverse, inclusive and engaged culture. A place where people can bring their whole selves to work and be respected for who they are, valued for what they do and celebrated for their contribution to our business and our community.
We are an equal opportunity employer and opposed to discrimination on any grounds. It is the policy of Barclays to ensure equal employment opportunity without discrimination or harassment on the basis of race, colour, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.

Barclays is required by law to confirm that you have the Legal Right to Work in any role that you apply for. If you currently hold a work visa sponsored by Barclays, or you would require sponsorship from Barclays, you must declare this as part of your application. Sponsored visas are role and entity specific and any changes must be reviewed. It is important that you ensure you are working on the correct visa at all times. Failure to accurately disclose your visa status or Legal Right to Work may result in your application or any employment offer being withdrawn at any time.

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