Senior Manager Hedging Unit

HSBC Global Services Limited; City of Edinburgh; On-site; GBP 70,000 - 90,000; Full time

Job summary

A leading global banking institution is seeking a Senior Manager for its Hedging Unit in Edinburgh. This role focuses on facilitating a sustainable hedge accounting framework and requires strong expertise in hedge accounting principles and financial products. The ideal candidate will have a relevant qualification and experience in operational compliance. This position promotes team collaboration with a supportive hybrid working pattern, fostering a diverse and inclusive work environment.

Qualifications

• Demonstrable core Hedge Accounting experience, including operational and control-related work.
• Good knowledge of IAS 39/IFRS 9 related to hedge accounting.
• Familiarity with Global Market products like Foreign Exchange and Derivatives.

Responsibilities

• Facilitate Hedge Accounting Framework for Treasury business.
• Support Global/Regional Hedging Units for compliant frameworks.
• Implement consistent processes for hedge accounting and P&L reporting.

Skills

Strong organisation

Time management

Prioritisation skills

Excellent communication

Presentation skills

Proficiency in MS Office Suite

Data skills

Education

Chartered Accountant qualification (ACA, ACCA, CA, CWA, CPA, CFA, or MBA)

Tools

VBA

Python

Job description

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a role 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.

HSBC is one of the largest banking and financial services organisations in the world, with operations in 57 countries and territories. We aim to be where the growth is, enabling businesses to thrive and economies to prosper, and, ultimately, helping people to fulfil their hopes and realise their ambitions.

We are currently seeking an experienced individual to join this team in the role of Senior Manager, Hedging Unit.

This role will give you the opportunity to partner with the Treasury business to facilitate the execution of a sustainable framework for hedge accounting designations. The role offers the chance to work on globally consistent, compliant, and future-proof hedging frameworks, contributing to significant projects like PC Transformation and Hedge Accounting Transformation. Additionally, it provides the opportunity to work closely with senior management and various teams across the organisation, promoting continuous improvement and automation of processes. The role is integral to HSBC's strategy, offering a platform for career growth and development within a global finance team.

In this role, you will:

• Facilitate Hedge Accounting Framework: Partner with the Treasury business to execute a sustainable framework for hedge accounting designations, supporting capital and IRRBB beneficial hedging strategies.
• Support Global/Regional Hedging Units: Deliver a globally consistent, compliant, and future-proof hedging framework, addressing risks and issues, particularly around manual processes.
• Implement Globally Consistent Processes: Work with Global and Regional Heads to drive the implementation of consistent processes, controls, and IT systems for hedge accounting through to P&L reporting.
• Collaborate Across Teams: Engage with other Product Control teams and support functions to ensure seamless and comprehensive support for Treasury and Markets Treasury.
• Promote Continuous Improvement: Facilitate automation of manual processes, improve productivity, and maintain HSBC internal control standards, ensuring compliance with ethical standards and SOX requirements.

To be successful in this role you should meet the following requirements:

• Qualified Finance Professional: A qualification as a Chartered Accountant (ACA, ACCA, CA or equivalent), CWA, CPA, CFA, or an MBA.
• Relevant Experience: Demonstrable core Hedge Accounting experience, including operational and control-related work.
• Technical Knowledge: Good knowledge of IAS 39/ IFRS 9, specifically related to accounting principles applicable to Hedge Accounting, fair value, and cashflow designations.
• Market Product Knowledge: Familiarity with various Global Market products such as Foreign Exchange, Fixed Income, Derivatives - Options, Interest Rate Swaps, and Credit Derivatives.
• Controls Experience: Prior experience in Product Control, Financial Control or Audit across multiple asset classes with a strong understanding of Financial Markets, risks, and the changing regulatory environment.
• Skills: Strong organisation, time management, and prioritisation skills, excellent communication and presentation skills, and proficiency in MS Office Suite, including VBA, Python, and general data skills.
• Interpersonal Skills: Ability to work effectively with senior and junior staff, challenge inputs constructively, provide positive feedback, coaching and engaging with multiple teams and geographies.

The base location for this role will be Edinburgh and with a hybrid working pattern.

Being open to different points of view is important for our business and the communities we serve. At HSBC, we’re dedicated to creating diverse and inclusive workplaces - no matter their gender, ethnicity, disability, religion, sexual orientation, or age. We are committed to removing barriers and ensuring careers at HSBC are inclusive and accessible for everyone to be at their best. We take pride in being a Disability Confident Leader and will offer an interview to people with disabilities, long term conditions or neurodivergent candidates who meet the minimum criteria for the role.

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