Hedge Accounting PC SME - HSBCJP00043156

Canada Square, London E14 5AH, UK, England (GBR)
£495 - £550 Per Day
6 Months
Start date: 23 Aug 22
Ref: 159719

Apply now

Required skills

risk management
sme
hedge accounting

Other skills

hedging
technical accounting
accounting
control framework
external audit
python
graduate

Job description Posted 25 August 2022

Hedge Accounting Product Control SME

£550p/d PAYE / £714.08 p/d Umbrella

London – hybrid working

6-month contract

If you’re looking for a career that will help you stand out, join HSBC, and fulfil your potential. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further. We are currently seeking an experienced individual to join this team in the role of Hedge Accounting Product Control SME

Role Purpose / Day to Day:

Global Finance is integral to HSBC’s purpose and strategy, playing a valued role in managing costs, funding the bank and deploying capital in the most effective way. Our global team of finance professionals partner with our global businesses, including Treasury, to provide trusted insights, forward looking and efficient analysis, guidance and insight to contribute to commercially driven solutions while being aligned with the regulatory and accounting frameworks within the accepted risk appetite.

We are currently seeking an ambitious individual to join our global hedging unit team as a member of the GHU, within Product Control.

Role Purpose

Act as a key contact point with key non-PC stakeholders (including management of Front Office, Traded Risk, Operations, IT and other Finance teams) regarding the accounting hedging activities within the Group.

Be part of a specific SME group on agreed topics across the HSBC Group, and contribute to implementing a globally consistent set of processes, controls and eventually IT systems for those agreed topics.
Support the Global Head of the Hedging Units in delivering a globally consistent, compliant and future proof hedging framework across the Group.
Partner with the Global Businesses, particularly with Treasury, to facilitate a sustainable and efficient risk management framework which uses accounting designations (such as hedge accounting or fair value option) to support capital and liquidity beneficial hedging strategies.
Work closely with other PC teams which support the Global Businesses (outside the hedging risk management framework) so that the Global Businesses receive a seamless and comprehensive support.
Work with the other Regional Hedging Units (RHU) and with members of the GHU to integrate the recommended changes and processes needed to deliver a globally consistent and compliant hedging framework. These include but are not limited to the following:
Contribute to implementing hedging models compliant with the Internal Modelling requirements applicable to PC hedging activities
Contribute to the compliance with the Group Sarbanes-Oxley (SOX) requirements for RHU
Contribute to the design and the implementation of IT Change Projects and Initiatives for RHU with an aim to use globally consistent IT infrastructure
Promote continuous improvement for all activities including increasing efficiency and controls through procedures/systems change process.
Maintain HSBC internal control standards, including timely implementation of assurance, internal and external audit points.
To communicate risk, control framework and technical accounting requirements in a way that non-experts can understand.

Experience / Skills

Hedging unit specialist
Practical experience of at least 2-3 years in hedging activities
2-3 years’ experience in either Product Control, Finance or Treasury Departments
Accounting background advantageous
A practical understanding of hedge accounting
University graduate from a reputed institution in financial or economic subject
Prior Product Control experience across multiple asset class
Excellent written English and oral communication skills
Good understanding of accounting principles applicable to hedge accounting and fair value designations
Good understanding of Financial Markets, risks and changing regulatory environment (products traded, associated risks and their life cycle, valuation techniques)
Work independently with minimum guidance and able to work under pressure to meet tight deadlines
Excellent analytical skills and a proactive approach to problem solving
Excellent interpersonal skills and able to work with people across location and from different backgrounds
Advanced MS Excel, Python, or other Data Science tools will be plus

If you think you are up for the task and feel you meet the above criteria or interested to hear more information, please contact me on Amy.walker@tapfin.com