Senior Treasury Analyst/Accountant – cash flow hedges

McDermott International, Ltd; Houston (TX); On-site; USD 90,000 - 150,000; Full time

Job summary

McDermott International, Ltd. is seeking a Senior Treasury Analyst/Accountant – FX & Hedging to support the global foreign exchange risk program and hedging strategy.

You will work with business units, accounting, FP&A, tax, and regional finance teams to quantify and manage currency exposures and report FX risks. You will manage hedge accounting activities, financial disclosures, SOX controls, and system enhancements, ensuring compliance with ASC 815 and IFRS 9 while contributing to cash flow

Qualifications

• 5+ years of accounting, treasury accounting, or hedge accounting experience.
• Strong knowledge of ASC 815 and/or IFRS 9.
• Experience with derivative instruments such as FX forwards and options, Interest rate swaps, Commodity hedges and Cross-currency swaps.
• Experience with ERP and Treasury Management Systems (e.g., SAP, Oracle, Quantum, Kyriba)

Responsibilities

• Manage all hedge accounting activities for cash flow hedges, fair value hedges, and net investment hedges
• Prepare and maintain hedge designation documentation and effectiveness testing
• Ensure compliance with ASC 815 and company accounting policies
• Record monthly and quarterly hedge accounting journal entries
• Prepare hedge-related disclosures for financial statements and SEC filings
• Maintain supporting documentation for internal and external audits
• Review FX forwards, swaps, options, interest rate swaps, and commodity hedges
• Provide accounting guidance on proposed hedging strategies
• Analyze the accounting implications of new treasury products and risk management initiatives
• Develop and maintain SOX-compliant controls over derivative accounting processes
• Coordinate with Internal Audit and external auditors
• Ensure timely completion of reconciliations and control activities
• Monitor changes in accounting standards and regulatory requirements
• Produce monthly hedge accounting reports and variance analyses
• Explain OCI, hedge ineffectiveness, and earnings impacts to management
• Support forecasting of hedge-related P&L and balance sheet impacts
• Assist with quarter-end and year-end close processes
• Maintain hedge accounting systems and treasury management platforms
• Support implementation of Treasury Management Systems (TMS) and ERP enhancements
• Drive automation and process efficiency initiatives
• Develop standardized procedures and documentation

Skills

Advanced Excel

Treasury risk management

Education

Bachelor's degree in accounting/Finance or related field

MBA (preferred)

CPA preferred

CFA/CTP is a plus

Tools

SAP

Oracle

Quantum

Kyriba

Job description

The Senior Treasury Analyst/Accountant – FX & Hedging is responsible for supporting the Company's global foreign exchange risk management program, executing and administering hedging strategies, monitoring currency exposures, and ensuring compliance with treasury policies and accounting requirements. The role partners closely with business units, accounting, FP&A, tax, and regional finance teams to identify, quantify, manage, and report foreign exchange risks. The position plays a critical role in protecting the organization from adverse currency movements through the use of financial derivatives and natural hedging strategies while supporting cash flow forecasting, hedge accounting, and treasury technology initiatives.

Responsibilities

Key Tasks and Responsibilities:

• Manage all hedge accounting activities for cash flow hedges, fair value hedges, and net investment hedges
• Prepare and maintain hedge designation documentation and effectiveness testing
• Ensure compliance with ASC 815 and company accounting policies
• Record monthly and quarterly hedge accounting journal entries
• Prepare hedge-related disclosures for financial statements and SEC filings
• Maintain supporting documentation for internal and external audits
• Review FX forwards, swaps, options, interest rate swaps, and commodity hedges
• Provide accounting guidance on proposed hedging strategies
• Analyze the accounting implications of new treasury products and risk management initiatives

Controls & Compliance

• Develop and maintain SOX-compliant controls over derivative accounting processes
• Coordinate with Internal Audit and external auditors
• Ensure timely completion of reconciliations and control activities
• Monitor changes in accounting standards and regulatory requirements

Analysis & Reporting

• Produce monthly hedge accounting reports and variance analyses
• Explain OCI, hedge ineffectiveness, and earnings impacts to management
• Support forecasting of hedge-related P&L and balance sheet impacts
• Assist with quarter-end and year-end close processes

System & Process Improvement

• Maintain hedge accounting systems and treasury management platforms
• Support implementation of Treasury Management Systems (TMS) and ERP enhancements
• Drive automation and process efficiency initiatives
• Develop standardized procedures and documentation

Qualifications

Essential Qualifications and Education

Education

• Bachelor’s degree in accounting, Finance, or related field
• CPA preferred
• MBA, CFA, or CTP is a plus

Experience

• 5+ years of accounting, treasury accounting, or hedge accounting experience
• Strong knowledge of ASC 815 and/or IFRS 9
• Experience with derivative instruments such as: FX forwards and options, Interest rate swaps, Commodity hedges and Cross-currency swaps
• Experience supporting external audits
• Experience with ERP and Treasury Management Systems (e.g., SAP, Oracle, Quantum, Kyriba)

Technical Skills

• Advanced Excel skills
• Knowledge of Treasury and risk management operations

About Us

Our ingenuity fuels daily life. Together, we’ve forged some of the most trusted partnerships across the energy value chain to make what was once just an idea a reality: laying subsea infrastructure thousands of feet below sea level, installing platforms hundreds of miles from shore, using our expertise to design and build offshore wind infrastructure, and reshaping the onshore landscape to deliver the energy products the world needs safely and sustainably.

For more than 100 years, we've been making the impossible possible. Today, we're driving the energy transition with more than 30,000 of the brightest minds across 54 countries.