Hedge Accounting AVP

Treasury Hedge Accounting Role

The Treasury Hedge Accounting function is central to Treasury’s risk management activities, often acting as a key business partner to the Treasury function. It helps in delivering accounting solutions that reduce the firm’s earnings volatility experienced through fair value accounting. The role is mainly responsible for monthly monitoring and reporting of segmental (head office) and statutory P&L, and model management of certain bespoke hedge accounting activities. The team has diverse responsibilities and interacts with stakeholders from multiple Financial Transaction Cycles (FTCs) across the bank.

Key Accountabilities

• Understanding and reporting across multiple entities in both a solus and consolidated lens, forging stakeholder relationships at each entity level.
• Ledger management, control, and journal execution in a complex accounting discipline.
• Review, build, and run regression models and trade pricing tools that support bespoke trading strategies with Hedge Accounting.
• Identify and develop ‘lean’ working methods; leveraging Product Control tools where possible.
• Manage and support technology development of the in-house Hedge Accounting platform and related models.
• Develop an understanding of how potential interest rates movements globally impact Hedge Accounting’s ability to mitigate P&L volatility and support resolution analytics on an ongoing basis.

Essential Skills/Basic Qualifications

• Basic hedge accounting knowledge (cash flow and fair value) is advantageous, ideally acquired in a financial institution with interest rates as the key managed risk.
• Excellent Excel skills (VBA, SQL, Python highly desirable but not necessary).
• Demonstrable experience in participating in change projects.
• Experience in linking entity results to financial statement production is desirable.
• Fully qualified accountant.
• Degree (or higher) educated.

You may be assessed on key critical skills relevant for success in the 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 analyze hedging relationships, identify potential hedge accounting opportunities, and implement effective hedging strategies to mitigate accounting asymmetry risk.

Accountabilities

• Design and implement effective hedge accounting strategies supporting the bank's overall risk management framework; adjust as needed to maintain effectiveness and respond to market condition changes.
• 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. Ensure accuracy and compliance with accounting standards for audit review.
• Fair value measurements for financial instruments using appropriate valuation methodologies, and calculating and recording hedge accounting adjustments to reflect the impact on financial statements.
• Management of regular effectiveness testing of hedging relationships to ensure they meet hedge accounting requirements; evaluate and adjust as needed.
• Report the internal and external statutory view of hedge accounting effectiveness for presentation in the Barclays Annual Accounts.

Assistant Vice President Expectations

• Consult on complex issues; advise People Leaders to support the resolution of escalated issues.
• Identify ways to mitigate risk and develop new policies/procedures for control and governance.
• Manage risk and strengthen controls related to the work done.
• Perform work related to other areas, understanding how areas coordinate and contribute to organizational objectives.
• Collaborate with other areas of work to align with business activity and strategy.
• Engage in complex analysis of data from multiple information sources to solve problems creatively and effectively.
• Communicate complex information, including sensitive or challenging content, clearly to different audiences.
• Influence or convince stakeholders to achieve outcomes.

All colleagues are expected to demonstrate Barclays Values: Respect, Integrity, Service, Excellence, and Stewardship – our moral compass guiding us to do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge, and Drive – our operating manual for how we behave.