As a Hedge Accounting VP, you’ll act as a key subject matter expert for Barclays’ hedge accounting function and a trusted business partner to stakeholders across the firm. You’ll provide expert advice on hedge accounting matters, supporting the development and refinement of new and existing hedge strategies and helping to shape the strategic direction of the function. Your insight will enable the business to make informed decisions while ensuring hedge accounting approaches remain robust, compliant, and aligned with commercial objectives.
You’ll play a central role in managing and evolving the hedge accounting risk and control framework, ensuring controls are designed and performed to the highest standards and that financial performance is clearly understood. You’ll be responsible for the accurate and timely reporting of hedge accounting results and disclosures across the firm’s legal entity structure, and you’ll support impact assessments for new accounting standards, including Risk Mitigation Accounting. In addition, you’ll contribute to and lead elements of the function’s change agenda, providing strong input into the Transform initiative and helping to deliver sustainable improvements across hedge accounting capabilities.
Essential Skills/Basic Qualifications
- Technical accounting mind-set with experience of hedge accounting or MTM product control
- Excellent written and verbal communication skills; tested in a variety of mediums including presentations, policy documents and stakeholder meetings/forums
- Fully qualified accountant (ACA, ACCA or equivalent)
Desirable skills/Preferred Qualifications
- Experience of working in Banking or other Financial Services company
- Understanding of Treasury function and related products
You may be assessed on key critical skills relevant for success in role, such as risk and controls, change and transformation, business acumen, strategic thinking and digital and technology, as well as job-specific technical skills.
Purpose of the role
To report and analyse hedging relationships, identify potential hedge accounting opportunities, and implement effective hedging strategies to mitigate accounting asymmetry risk.
Accountabilities
- Design and implementation of effective hedge accounting strategies that support the bank's overall risk management framework and adjust as needed to maintain hedge effectiveness and respond to changes in market conditions.
- Assessment of potential hedge accounting relationships between financial instruments, considering factors such as effectiveness, designation, and hedge ratio.
- Preparation and maintenance of comprehensive hedge accounting documentation, including hedge designation reports, effectiveness testing results, and fair value measurements and ensure that hedge accounting documentation is accurate, compliant with accounting standards, and readily available for audit review.
- Fair value measurements for financial instruments, including both hedged and hedging instruments, using appropriate valuation methodologies, and calculation and recording of hedge accounting adjustments, including hedge ineffectiveness adjustments, to reflect the impact of hedging relationships on the financial statements.
- Management of regular effectiveness testing of hedging relationships to assess whether they continue to meet the requirements for hedge accounting, and evaluation of the effectiveness of hedging strategies and adjust as needed to maintain hedge effectiveness.
- Report the internal and external statutory view of hedge accounting effectiveness for presentation into Barclays Annual Accounts.
Vice President Expectations
- To contribute or set strategy, drive requirements and make recommendations for change. Plan resources, budgets, and policies; manage and maintain policies/ processes; deliver continuous improvements and elevate breaches of policies/procedures..
- If managing a team, they define jobs and responsibilities, planning for the department’s future needs and operations, counselling employees on performance and contributing to employee pay decisions/changes. They may also lead a number of specialists to influence the operations of a department, in alignment with strategic as well as tactical priorities, while balancing short and long term goals and ensuring that budgets and schedules meet corporate requirements..
- If the position has leadership responsibilities, People Leaders are expected to demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard. The four LEAD behaviours are: L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others..
- OR for an individual contributor, they will be a subject matter expert within own discipline and will guide technical direction. They will lead collaborative, multi-year assignments and guide team members through structured assignments, identify the need for the inclusion of other areas of specialisation to complete assignments. They will train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions..
- Advise key stakeholders, including functional leadership teams and senior management on functional and cross functional areas of impact and alignment.
- Manage and mitigate risks through assessment, in support of the control and governance agenda.
- Demonstrate leadership and accountability for managing risk and strengthening controls in relation to the work your team does.
- Demonstrate comprehensive understanding of the organisation functions to contribute to achieving the goals of the business.
- Collaborate with other areas of work, for business aligned support areas to keep up to speed with business activity and the business strategies.
- Create solutions based on sophisticated analytical thought comparing and selecting complex alternatives. In-depth analysis with interpretative thinking will be required to define problems and develop innovative solutions.
- Adopt and include the outcomes of extensive research in problem solving processes.
- Seek out, build and maintain trusting relationships and partnerships with internal and external stakeholders in order to accomplish key business objectives, using influencing and negotiating skills to achieve outcomes.
All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.
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