Hedge Accountant and Reporting Manager-Bromley recruitment

Direct Line Group is a new organisation, with a clear vision: to be the best at everything we do. We are the number one motor and home insurer, making us the largest insurer in the country for personal customers . We’re home to some of the nation’s best-loved brands, including Direct Line, Churchill, Privilege, Green Flag, Tracker and NIG. And we’re growing internationally too

• Be the subject matter expert on hedge accounting requirements and take responsibility for ensuring the correct and desired accounting treatment for all  derivative trades to be executed by Investment Treasury is understood clearly prior to any trade being implemented.

• To manage and deliver the necessary process, evidence documentation and tests to enable the appropriate hedge accounting treatment to be claimed and maintained for derivatives executed.

• Be responsible for managing the ongoing use and coordination of any externally provided software package used to support hedge accounting effectiveness. (NB It is planned to identify and source a suitable package over the next 12 months and in the interim use the RBS hedging programmes via a transition agreement).

• Manage the complete and timely flow of derivative data and reports between the Blackrock system/hedge effectiveness software package and RBS Insurance accounting ledgers.

• Prepare ad hoc sensitivity analysis as required to understand quantum of potential volatility impacting PL from unhedged positions.

• Coordinate the preparation and timely delivery of all regular weekly and monthly management reporting packs prepared by Investment Treasury. 

• Liaise with Decision Support to ensure key messages within Investment Treasury reporting are understood correctly and extracts taken from reports for insertion into other reporting channels are shown accurately and with the right context.

• Lead the delivery of all requests for information on Investment Treasury activities from (1) regulatory bodies, (2) rating agencies, and (3) the investor relations function.

• To be responsible for understanding and applying the RBS Insurance risk framework in so far as it impacts on the job holder’s areas of responsibility.