Senior Derivatives Accounting Product Manager

Clearwater Analytics, LLC; New York (NY); On-site; USD 179,000 - 243,000; Full time

Benefits offered by this job

Health/vision/dental insurance

401(k)

PTO

Parental leave

Medical leave

STD/LTD insurance benefits

Job summary

Clearwater Analytics is seeking a Senior Product Manager with strong derivatives accounting experience to help design and build Clearwater’s end-to-end derivatives capabilities across the product and lifecycle.

The ideal candidate will collaborate with Product, Engineering, Valuation and client-facing teams to translate complex derivative accounting requirements into scalable product functionality, including hedge accounting under ASC 815 and/or IFRS 9, and integration with valuation outputs.

Qualifications

• 8+ years of derivatives accounting or related field.
• Experience with hedge accounting methodologies.
• Ability to translate complex derivative accounting into product requirements.

Responsibilities

• Help design and build end-to-end derivatives capabilities across the trade and accounting lifecycle.
• Translate derivative accounting requirements into product requirements, business rules, workflows, calculations and acceptance criteria for engineering teams.
• Define accounting treatment and journal-entry logic for derivative instruments across initial recognition, periodic valuation, accruals, settlements, terminations and other lifecycle events.
• Help design accounting functionality for instruments including swaps, forwards, NDFs, futures and options.
• Partner with valuation teams to ensure integration between derivative valuations, market data and accounting outputs.
• Help define accounting treatment for gains/losses, accruals, settlements and other derivative-related events.
• Help design hedge accounting functionality, including designation, documentation, effectiveness testing, maintenance, and termination.
• Define product requirements for hedges including fair value hedges, cash flow hedges and net investment hedges.
• Help implement hedge accounting events including OCI recognition and reclassification, ineffectiveness, and amortization.
• Help define regression, dollar-offset, hypothetical derivative and other hedge effectiveness methodologies.
• Help build downstream reporting, disclosures, and accounting controls for derivatives.
• Work with clients and internal SMEs to translate complex derivatives use cases into scalable product capabilities.
• Partner with Engineering throughout the development lifecycle.

Skills

Derivative accounting

Hedge accounting

ASC 815 / IFRS 9

Cross-functional collaboration

Analytical problem solving

Tools

Valuation systems

Job description

We are looking for a Senior Product Manager with strong derivatives accounting experience to help design and build Clearwater’s end-to-end derivatives capabilities. The ideal candidate will have deep knowledge of derivative instruments, derivative accounting and the broader derivatives lifecycle, along with hands-on experience with hedge accounting under ASC 815 and/or IFRS 9. This person will work closely with Product, Engineering, Valuation, Accounting and client-facing teams to translate complex derivative accounting requirements into scalable product functionality.

Responsibilities

Help design and build end-to-end derivatives capabilities across the trade and accounting lifecycle.

Translate derivative accounting requirements into product requirements, business rules, workflows, calculations and acceptance criteria for engineering teams.

Define accounting treatment and journal-entry logic for derivative instruments across initial recognition, periodic valuation, accruals, settlements, terminations and other lifecycle events.

Help design accounting functionality for instruments including interest-rate swaps, cross-currency swaps, FX forwards and NDFs, futures, options, caps/floors, swaptions and other derivative products.

Partner with valuation teams to ensure appropriate integration between derivative valuations, market data, cash flows and accounting outputs.

Help define accounting treatment for realized and unrealized gains/losses, accruals, settlements, premiums, financing components and other derivative-related accounting events.

Help design and build hedge accounting functionality, including hedge designation, documentation, effectiveness testing, ongoing maintenance, designation and termination.

Define product requirements for fair value hedges, cash flow hedges and net investment hedges.

Help develop functionality for hedge-accounting-specific events including OCI recognition and reclassification, hedge ineffectiveness, fair value hedge basis adjustments and amortization.

Help define requirements for hedge effectiveness methodologies including regression, dollar-offset, hypothetical derivative and critical-terms matching.

Help build downstream reporting, disclosures, audit support and accounting controls associated with derivatives.

Work directly with clients and internal subject-matter experts to understand complex derivatives use cases and translate them into scalable product capabilities.

Partner closely with Engineering throughout the development lifecycle, including solution design, testing, validation and release.

Requirements

Approximately 8+ years of experience in derivatives accounting, financial instruments, treasury, capital markets, accounting advisory or a related area.

Strong understanding of derivative instruments and their accounting treatment.

Experience with the accounting lifecycle of derivatives, including valuation changes, accruals, settlements, terminations and journal entries.

Strong understanding of instruments such as interest-rate swaps, cross-currency swaps, FX forwards/NDFs, futures and options.

Hedge accounting experience under ASC 815 and/or IFRS 9 is required.

Experience with fair value hedges and cash flow hedges; net investment hedge experience is a plus.

Experience with hedge documentation and effectiveness assessment methodologies.

Strong understanding of the relationship between derivative valuation, economics, cash flows and accounting outcomes.

Ability to translate complex accounting guidance into clear business rules, system requirements and test scenarios.

Strong analytical skills and ability to work through complex transactional accounting scenarios.

Ability to collaborate effectively with accountants, engineers, valuation specialists, quantitative teams and clients.

Preferred

We are particularly interested in candidates at the Manager level or experienced senior level within a Big Four accounting or advisory firm, particularly those working in Financial instruments, Derivatives accounting, Treasury accounting/advisory, Capital markets accounting, Financial-services accounting advisory, Hedge accounting. Candidates from banks, insurers, asset managers or financial technology companies with significant derivatives accounting experience will also be considered.

Salary Range $179,400.00 - $243,136.45. This is the pay range the Company believes it will pay for this position at the time of this posting. Consistent with applicable law, compensation will be determined based on relevant experience, other job-related qualifications/skills, and geographic location (to account for comparative cost of living). The Company reserves the right to modify this pay range at any time.

For this role, benefits include:

• health/vision/dental insurance
• 401(k)
• PTO
• parental leave
• medical leave
• STD/LTD insurance benefits

Clearwater Analytics is An Equal Opportunity/Affirmative Action Employer.

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status, age or any other federally protected class.

Thank you for your interest in a career with Clearwater!

Clearwater Analytics (NYSE: CWAN) is transforming investment management with the industry’s most comprehensive cloud-native platform for institutional investors across global public and private markets. While legacy systems create risk, inefficiency, and data fragmentation, Clearwater’s single-instance, multi-tenant architecture delivers real-time data and AI-driven insights throughout the investment lifecycle. The platform eliminates information silos by integrating portfolio management, trading, investment accounting, reconciliation, regulatory reporting, performance, compliance, and risk analytics in one unified system. Serving leading insurers, asset managers, hedge funds, banks, corporations, and governments, Clearwater supports over $8.8 trillion in assets globally. Learn more at www.clearwateranalytics.com.

Studies have shown that women and people of color are less likely to apply to jobs unless they meet every single qualification. We are dedicated to building a diverse, inclusive and authentic workplace, so if you’re excited about this role but your past experience doesn’t align perfectly with the job description, we encourage you to still apply! You may be just what we’re looking for.