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- Tasks: Manage hedge accounting processes and support a new Treasury Management System implementation.
- Company: Challenger bank in Central London with a hybrid working model.
- Benefits: 6-month contract with potential extension and immediate start.
- Other info: Collaborate with various teams and gain exposure to complex treasury accounting.
- Why this job: Join a dynamic team and enhance your finance skills in a fast-paced environment.
- Qualifications: Experience in hedge accounting and strong knowledge of IFRS standards required.
The predicted salary is between 48000 - 72000 £ per year.
Recruiting Treasury & Risk Professionals – JSS Search
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.
Seniority level: Mid-Senior level
Employment type: Contract
Job function: Finance and Accounting/Auditing
Industries: Banking and Financial Services
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Hedge Accounting Specialist employer: JSS Search
Contact Detail:
JSS Search Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Hedge Accounting Specialist
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance and banking sectors. Let them know you're on the lookout for a Hedge Accounting Specialist role. You never know who might have the inside scoop on opportunities!
✨Tip Number 2
Prepare for interviews by brushing up on your technical knowledge. Be ready to discuss IFRS 9, IAS 39, and your experience with Treasury Management Systems. Show us you can handle the nitty-gritty of hedge accounting with confidence!
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Check out our website for roles that fit your skills and interests. We’ve got some great opportunities waiting for you!
✨Tip Number 4
Follow up after interviews! A quick thank-you email can go a long way. It shows your enthusiasm for the role and keeps you fresh in their minds. Plus, it’s a chance to reiterate why you’re the perfect fit for the Hedge Accounting Specialist position!
We think you need these skills to ace Hedge Accounting Specialist
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Hedge Accounting Specialist role. Highlight your experience with hedge accounting, IFRS 9, and any relevant Treasury Management Systems you've worked with. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for this role. Mention specific experiences that relate to the responsibilities listed in the job description. We love seeing your personality come through!
Showcase Your Communication Skills: Since you'll be explaining complex concepts to non-finance stakeholders, make sure your application reflects your excellent written communication skills. Keep it clear and concise, and don’t hesitate to show us how you can simplify complex ideas!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it’s super easy – just follow the prompts and submit your materials!
How to prepare for a job interview at JSS Search
✨Know Your Hedge Accounting Inside Out
Make sure you brush up on your knowledge of hedge accounting, especially IFRS 9 and IAS 39. Be ready to discuss how you've applied these standards in previous roles, as well as any challenges you've faced and how you overcame them.
✨Showcase Your System Savvy
Since this role involves optimising a Treasury Management System, be prepared to talk about your experience with similar systems. Highlight specific examples where you've improved processes or contributed to user acceptance testing (UAT) to demonstrate your hands-on expertise.
✨Communicate Clearly and Confidently
You'll need to explain complex accounting concepts to non-finance stakeholders, so practice articulating your thoughts clearly. Use simple language and relatable examples to ensure your points come across effectively during the interview.
✨Prepare for Scenario-Based Questions
Expect questions that assess your problem-solving skills in real-world scenarios. Think of situations where you've had to manage multiple priorities or navigate a fast-paced environment, and be ready to share how you handled them successfully.