HSBC

Manager - Hedge Accounting

HSBC$120K — $150K *
Finance & Insurance
Less than 5 years of experience
Job Overview by Ladders

Qualifications

  • BS in Finance/Accounting required, CPA or MBA preferred, CFA desirable
  • Minimum three years of experience in a top-tier public accounting firm, preferably in financial services
  • Strong knowledge of interest rate and FX products, including controls and reconciliations
  • Proficient in operational issues of fixed-income products; bond math skills are necessary
  • Working knowledge of IFRS and/or US-GAAP accounting standards
  • Excellent computer skills, particularly in Excel; familiarity with Summit or other derivative trading systems is a plus

Responsibilities

  • Manage and coordinate hedge accounting per IAS #39 and FAS #133 rules
  • Support ongoing monitoring and testing of hedge effectiveness
  • Assist in hedge accounting documentation and initial hedge testing
  • Perform daily/weekly/monthly analysis of hedging results and provide P&L commentary
  • Review monthly commentary on hedging results of various portfolios
  • Oversee selected projects within Finance Global/Local and Markets Treasury
  • Guide and motivate team members while managing a near-shore support team

Benefits

  • Access to tailored professional development opportunities
  • Robust Wellness Hub
  • Industry-leading volunteerism policy and matching gift program
  • Comprehensive Sustainability and Climate Change Initiatives
  • Active Employee Resource Groups for networking and development
  • Inclusive work environment that values diversity
Full Job Description
The manager of Regional Hedging Unit of fixed income and FX products for Markets Treasury, with specific responsibility and oversight over the hedge accounting process. As our Manager - Hedge Accounting, you will: • Manage, Oversee and coordinate hedge accounting in accordance with IAS #39 and FAS #133 rules - fair value and cash flow hedging activities • Support the team on the on-going monitoring and testing for hedge effectiveness on existing deals • Manage and assist in hedge accounting documentation, including initial hedge testing • Manage Daily/weekly/monthly analysis of hedging results along with P&L explain and commentary • Review the monthly commentary on hedging results of various portfolios supported • Participate and oversee selected projects within Finance Global/Local and Markets Treasury • Manage, guide and motivate team members. Recognize and promote talent actively participating in back up planning • Manage and Oversight of near-shore support team, coordinating their efforts to best support the New York team • Support and investigate new/proposed hedging strategies You'll likely have the following skills to succeed in this role: • Works effectively with other Product Control teams and Finance teams within the Americas region • Builds and maintains a strong communication network with key stakeholders • Proper and timely escalation of issues to senior management • Lead and develop an effective team through communication, performance management, development plans and reward/recognition practices • Promote an environment that supports diversity and reflects the HSBC brand • Strong knowledge of interest rate and FX products including controls, reconciliations, etc • Strong Finance skills including understanding of risk management and P&L attribution • BS in Finance/Accounting at a minimum, CPA or MBA with a concentration in Accounting is preferred, CFA also desirable • Preferable to have minimum of three years experience in a top-tier public accounting firm with experience in financial services industry, preferably in fixed-rate derivative products • Strong skill-set with an understanding/insight into operational issues of fixed income products, including an aptitude towards working with bond math • Working knowledge of IFRS and/or US-GAAP accounting standards • Manage competing priorities with focus on Product control, Finance and accounting • Strong/Excellent computer skills (Excel, Word, etc.), knowledge of Summit or other derivative trading systems a plus As an HSBC employee, you will have access to tailored professional development opportunities to ensure you have the right skills for today and tomorrow. We offer a competitive pay and benefits package including a robust Wellness Hub, all in a welcoming and inclusive work environment. You will be empowered to drive HSBC's engagement with the communities we serve through an industry-leading volunteerism policy, a generous matching gift program, and a comprehensive program of immersive Sustainability and Climate Change Initiatives. You'll want to join our Employee Resource Groups as they play a central part in life at HSBC, including the development of our employees and networking inside and outside of HSBC. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank of the future! Your final fixed pay offer will depend on the candidate and several variables, including but not limited to, role responsibilities, skill set, depth of experience and education, licensing/certification requirements, internal relativity, and specific work location.

About HSBC

HSBC Holdings plc is a British multinational investment bank and financial services holding company. It is the second largest bank in Europe, with total assets of US$2.984 trillion (as of August 2021). HSBC traces its origin to a hong in British Hong Kong and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991; its name derives from that company's initials. The Hongkong and Shanghai Banking Corporation opened branches in Shanghai in 1865 and was first formally incorporated in 1866. The company was renamed The Hongkong and Shanghai Banking Corporation Limited in 1989.
Learn more about HSBC
Size
219,763 employees
Market Cap
$124.1 billion
Industry
Net Income
$5.2 billion
Founded
1880
5 Year Trend
-3.1%
NASDAQ

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