Senior Vice President, Technical Accounting

BNY; New York (NY); On-site; USD 102,000 - 196,250; Full time

Benefits offered by this job

Competitive compensation

Flexible global resources

Ample paid leave

Job summary

BNY is seeking a Senior Member in New York, responsible for providing expert advice on US GAAP Hedge Accounting Rules and managing hedge accounting for Treasury activities. The ideal candidate will have at least 10 years of relevant experience and a CPA qualification.

The role involves implementation of hedge programs, compliance management, and interaction with auditors and regulators. BNY offers competitive compensation and benefits, along with flexible work resources.

Qualifications

• Minimum 10 years of experience in accounting, particularly hedge accounting.
• Strong knowledge of hedge accounting rules and strategies.
• Ability to lead hedge accounting and reporting activities.

Responsibilities

• Serve as accounting subject matter expert on US GAAP Hedge Accounting Rules.
• Ensure timely creation and approval of hedge documentation.
• Lead implementation of new hedge programs and monitor effectiveness.

Skills

Expertise in US GAAP Hedge Accounting Rules

Effective communication skills

Proficient in Excel

Education

Certified Public Accountant (CPA)

Job description

Senior Member - Derivatives and Hedging Technical Accounting

Location: New York, NY (minimum 4 days per week in office)

Responsibilities

• Serve as accounting subject matter expert (SME) on US GAAP Hedge Accounting Rules (FAS 133, ASC 815) and provide advisory services to Treasury personnel on new hedge strategies and hedge effectiveness monitoring (interest rate swap, interest rate option products, cross-currency swaps, FX forwards).
• Ensure timely creation and approval of hedge documentation for approved hedge strategies.
• Review or create hypothesis trades representing the risk component hedged.
• Verify hedge documentation compliance with documented hedge strategy.
• Perform reconciliation controls to confirm all hedge trades executed in designated hedge books have contemporaneous documentation as approved hedge relationships.
• Act as manager of end-to-end hedge accounting and reporting for Treasury hedge activities, including monthly review of key GL checks.
• Lead implementation of new hedge programs, ensuring accounting systems appropriately segregate hedging derivatives for automated accounting and hedge designation tracking.
• Perform monthly and quarterly hedge effectiveness monitoring and reporting.
• Update corporate accounting policies to reflect new hedge strategies.
• Act as primary contact for external audit, internal audit, SOX, and regulators regarding data requests associated with global hedge programs.

Qualifications

• Certified Public Accountant (CPA) with 10-20 years of experience.
• Strong knowledge of US GAAP hedge accounting rules and/or experience auditing hedge programs or direct application of hedge accounting.
• Excellent communication skills for interacting with auditors, regulators, and the Treasury team.
• Proficient in Excel and willing to adopt new technologies.

Compensation

The base salary for this position is expected to be between $102,000 and $196,250 per year at the commencement of employment. Compensation may also include commission earnings, discretionary bonuses, short- and long-term incentive packages, and company-sponsored benefit programs.

Benefits

Competitive compensation, benefits, and wellbeing programs; flexible global resources and tools; focus on health and personal resilience; ample paid leave, including volunteer time; additional benefits as part of BNY’s total compensation package.

Equal Employment Opportunity

BNY is an equal-employment-opportunity/affirmative-action employer. Under-represented racial and ethnic groups, women, individuals with disabilities, and protected veterans are encouraged to apply.

About The Team

Senior member of a six-person technical accounting advisory team that supports Treasury business global interest-rate and foreign-exchange hedge programs with more than $50B notional.