Hedge Accounting Specialist

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.

Role and Location: Hedge Accounting Specialist – VP, London

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, ensuring accuracy, compliance with accounting standards, and availability 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.
• Management of regular effectiveness testing of hedging relationships to assess whether they continue to meet the requirements for hedge accounting.
• Report the internal and external statutory view of hedge accounting effectiveness for presentation into Barclays Annual Accounts.

Vice President Expectations:

• Contribute or set strategy, drive requirements, and make recommendations for change.
• Plan resources, budgets, and policies; manage and maintain policies/processes; deliver continuous improvements and elevate breaches of policies/procedures.
• If managing a team, define jobs and responsibilities, plan for the department’s future needs and operations, counsel employees on performance, and contribute to employee pay decisions/changes.
• Lead specialists to influence the operations of a department, balancing short and long-term goals while ensuring that budgets and schedules meet corporate requirements.
• Demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard.

Role Overview:

All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence, and Stewardship. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge, and Drive.

As a Hedge Accounting VP, you’ll act as a key subject matter expert for Barclays’ hedge accounting function and a trusted business partner to stakeholders across the firm. You’ll provide expert advice on hedge accounting matters, supporting the development and refinement of new and existing hedge strategies and helping to shape the strategic direction of the function.

Your insight will enable the business to make informed decisions while ensuring hedge accounting approaches remain robust, compliant, and aligned with commercial objectives. You’ll play a central role in managing and evolving the hedge accounting risk and control framework, ensuring controls are designed and performed to the highest standards and that financial performance is clearly understood.

You’ll be responsible for the accurate and timely reporting of hedge accounting results and disclosures across the firm’s legal entity structure, and you’ll support impact assessments for new accounting standards, including Risk Mitigation Accounting. In addition, you’ll contribute to and lead elements of the function’s change agenda, providing strong input into the Transform initiative and helping to deliver sustainable improvements across hedge accounting capabilities.

Essential Skills / Basic Qualifications:

• Technical accounting mind-set with experience of hedge accounting.
• Excellent written and verbal communication skills; tested in a variety of mediums including presentations, policy documents, and stakeholder meetings/forums.
• Fully qualified accountant (ACA, ACCA or equivalent).

Desirable Skills / Preferred Qualifications:

• Experience of working in Banking or other Financial Services company.
• Understanding of Treasury function and related products.

Hybrid Working: Barclays is currently in the early stages of implementing a hybrid working environment, which means that many colleagues spend part of their working hours at home and part in the office, depending on the nature of the role they are in.

Your Benefits: As a contract employee of Randstad Sourceright, you’ll receive a wide range of financial and personal benefits, including enrolment in a pension plan (after 12 weeks on assignment) and holiday pay. You’ll also get 24/7 access to an Employee Assistance Programme, designed to help you deal with any problems that could be affecting your home or work life.