Hedge & Derivatives Accountant

Eames Consulting Group; Greater London; Hybrid; GBP 70,000 - 100,000; Full time

Benefits offered by this job

10% non-contributory pension

25 days annual leave

Hybrid working: 2 days in the London 1

Job summary

Eames Consulting Group in London partners with a leading energy business to hire a Hedge & Derivatives Accountant. This newly created role focuses on day-to-day hedge accounting across PPAs and other hedges, with close interaction with Front Office, Risk and Trading Settlements.

Reporting to the Derivatives Controller, the candidate will maintain IFRS 9 hedge documentation, carry out effectiveness testing, and prepare disclosures for audits, while driving process improvements and engaging with

Qualifications

• ACA, ACCA or CIMA qualified with derivatives accounting experience.
• Hands-on IFRS 9 hedge accounting knowledge is essential.
• Strong IFRS 9, IFRS 13 and IFRS 7 understanding.

Responsibilities

• Maintain IFRS 9 hedge documentation and conduct effectiveness testing.
• Report derivative activity including MTM, P&L, and margins.
• Reconcile IFRS results to P&L and maintain auditable working papers.
• Ensure IFRS 9/13 compliance and prepare disclosures for audits.
• Identify process improvements to increase reporting accuracy.
• Collaborate with traders, risk managers and finance to produce accounting outputs.

Skills

IFRS 9 hedge accounting

Advanced Excel

Stakeholder engagement

Education

ACCA/ACCA/CIMA qualification

Tools

Workday

Alteryx

Job description

Eames are partnering with a leading energy business in London to hire a Hedge & Derivatives Accountant. This is a newly created role following a sustained period of growth for the company.

Reporting to the Derivatives Controller, you will run hedge accounting day to day across PPAs, intercompany power contracts and financial hedges. You'll work closely with Front Office, Risk and Trading Settlements.

Key Responsibilities:

• Hedge Accounting: Maintain IFRS 9 hedge documentation, carry out effectiveness testing and account for cash flow hedge reserves through OCI. Prepare hedge accounting journals and IFRS 7 disclosures for quarterly and year-end reporting.
• Derivative Reporting: Report on derivative trading activity, covering MTM valuations, P&L, Day 1 margins and valuation reserve movements. Make sure positions are shown correctly in the general ledger, the management accounts and the statutory accounts.
• Reconciliation & Controls: Reconcile IFRS results to the Risk department's P&L each month, and investigate and resolve any differences. Reconcile derivative positions against internal records and keep clear, auditable working papers.
• Compliance & Audit: Make sure derivative transactions comply with IFRS 9 and IFRS 13. Provide supporting schedules and draft disclosures for internal and external audits.
• Process Improvement: Help make derivative reporting more accurate and efficient.
• Stakeholder Engagement: Work with traders, risk managers and finance to turn trading activity into accurate accounting outputs. Help assess new products and structures as the hedging programme grows.

Person Requirements:

• ACA, ACCA or CIMA qualified, with experience in derivatives and financial instruments accounting, ideally in energy or commodities
• Hands-on experience of IFRS 9 hedge accounting
• Strong knowledge of IFRS 9, IFRS 13 and IFRS 7
• Advanced Excel; experience with valuation systems, Workday or Alteryx is a plus
• Confident communicator who can work with senior finance and front office stakeholders

What's on Offer:

• 10% non-contributory pension
• 25 days annual leave
• Hybrid working: 2 days in the London office

This is an excellent opportunity for a technically strong accountant with IFRS 9 hedge accounting experience to play a key role in launching a new hedge accounting programme at a growing renewable energy business.