Manager Hedge Accounting
The Manager-Hedge Accounting will have specific responsibility and oversight over the hedge accounting process.
About Us
Our purpose – Opening up a world of opportunity – explains why we exist. We’re here to use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We’re bringing together the people, ideas and capital that nurture progress and growth, helping to build a better world – for our customers, our people, our investors, our communities and the planet we all share.
You will be responsible for:
• Managing, overseeing and coordinating hedge accounting in accordance with IAS #39 and FAS #133 rules – fair value and cash flow hedging activities
• Supporting the team on the on-going monitoring and testing for hedge effectiveness on existing deals
• Managing and assisting in hedge accounting documentation, including initial hedge testing
• Managing Daily/weekly/monthly analysis of hedging results along with P&L explain and commentary
• Reviewing the monthly commentary on hedging results of various portfolios supported
• Participating and overseeing selected projects within Finance and Balance Sheet Management
• Managing, guiding and motivating team members; Recognizing and promoting talent actively participating in back up planning.
• Management and oversight of near-shore support team, coordinating their efforts to best support the New York team
• Supporting and investigating new/proposed hedging strategies
• Working effectively within the Regional Hedging Unit.
• Building and maintaining a strong communication network with key stakeholders.
• Building and maintaining strong teamwork between onshore and offshore locations. Proper and timely escalation of issues to management.
Requirements
• Works effectively with other Product Control teams and Finance teams within the Americas region.
• Builds and maintains a strong communication network with key stakeholders.
• Proper and timely escalation of issues to senior management.
• Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices.
• Promote an environment that supports diversity and reflects the HSBC brand
• Strong knowledge of interest rate and FX products including controls, reconciliations, etc.
• Strong Finance skills including understanding of risk management and P&L attribution
• BS in Finance/Accounting at a minimum, CPA or MBA with a concentration in Accounting is preferred, CFA also desirable
• Preferable to have minimum of three years’ experience in a top-tier public accounting firm with experience in financial services industry, preferably in fixed-rate derivative products
• Strong skill-set with an understanding/insight into operational issues of fixed income products, including an aptitude towards working with bond math.
• Working knowledge of IFRS and/or US-GAAP accounting standards
• Multi-tasking with focus on product controlling, finance and accounting
• Strong/Excellent computer skills (Excel, Word, etc.), knowledge of Summit or other derivative trading systems a plus