Senior Manager Hedging
Position: Senior Manager - Hedging
Reference: D02320
Location: London
Salary: competitive
We're one of the fastest growing banks in the UK and that is down to our people. And we recognise that as we help you develop your career you'll be doing the same for our business.
This new role is within the Treasury Finance - Technical Accounting Oversight team. The role forms part of a team that is responsible for the financial reporting and accounting for the hedging strategies applied by the Asset and Liability Management (ALM) business unit of the Santander UK Group.
Specifically the purpose of this role will be to work with the Senior Manager, Treasury Technical Reporting and other team members in the Treasury Finance Technical Accounting Oversight team
Santander UK
The Santander Group has more than 150 years' experience in global banking and more branches worldwide than any other international bank. We are well on the way to repeating this success in the UK, having been recognised as one the "Top Employers in the UK" in 2012 by the Corporate Research Foundation (CRF) Institute.
As a Senior Manager - Hedging your skills and qualifications will ideally include:
* Qualified accountant (ACA, ACCA or equivalent) with significant post qualification experience
* Strong technical accounting knowledge, especially IAS 32/39 and IAS 39 hedging requirements
* Able to competently apply technical knowledge to provide accounting solutions when issues arise
* Previous experience in a Treasury Finance / Product Control function or extensive audit experience of financial institutions / financial instruments
* Excellent knowledge of financial instruments including:
* interest rate / cross currency derivatives and
* money market instruments such as funding, bond, repo.
* Excellent attention to detail, has a methodical approach
* Ability to work accurately under pressure, often to very tight timescales
* Excellent MS Excel skills and communication skills
Summary of Key Responsibilities
As a Senior Manager - Hedging your main responsibilities will involve:
* To propose, develop and lead IAS 39 hedge accounting strategies to minimise PL volatility arising due to asymmetrical accounting methodologies
* Provision of proper guidance and advice to other departments on hedging matters when required.
* To understand the key PL drivers of volatility arising under the bank's hedging accounting strategies and provide explanation to senior management.
* To flag to management and investigate for proper explanations to any problems or unusual items in hedged packages, when arise, in an expedient manner.
* To review/produce all IAS 39 hedging documentation (including hedge effectiveness testing) necessary for applying hedge accounting within the Santander UK group, and to perform all necessary reconciliations for the business unit under the Account Ownership and Reconciliation Process ("AORP") for balances relating to hedging accounting.
* To review all necessary analysis to ensure the IAS 39 hedge accounting is complete and accurate, and in accordance with Group accounting and risk policies on an ongoing basis.
* To introduce and manage enhancements / improvements to current processes where necessary to ensure that there is a robust control framework around the booking and reporting of hedge accounting adjustments
Santander welcomes applications from all sections of the community. Preference will be given to redeployees.
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