Director Qualified Hedging

Position Overview

The Director Qualified Hedging is focused on researching, testing and documenting hedge accounting under US GAAP and Statutory guidance across the organization.

This will require investigation of system capability, writing of accounting specs and testing plans, assistance to IT in implementation, conducting user acceptance testing, working through open issues with IT, and delivery of ready to use accounting solutions in Findur and other supporting systems.

Hands on development effort will include prototyping solutions, coordinating discussions on strategic aspects, training those to use the new methodologies, documenting implemented solutions, and owning results and timeframes to implement.

This opportunity resides local Chesterfield and enjoys the Hybrid work schedule, and is open as a result of company growth.

Responsibilities

• Manage derivative accounting for qualified derivatives and appropriately achieve qualified hedge accounting on cash flow hedges, fair value hedges and on net investment in foreign operations.
• Manage and run hedge effectiveness testing for prospective and active qualified hedges
• Document Hedge Designation Memos for new qualified strategies
• Own the setup in derivative system for new qualified hedging strategies
• Develop and own new analysis for qualified hedges
• Develop new monitoring of bond cash flow hedging
• Support risk committee reporting for derivatives
• Primary tester of new hedging structures / tables / accounting used in new qualified hedging strategies
• Help to develop new tools and processes to support accounting needs, inclusive of derivative positions and their adjustments to other parts of the balance sheet or income statement.
• Lead development of accounting infrastructure / processes to allow incorporation of current and evolving derivative strategies
• Provide training support of newly developed system tools, accounting rules, use of hedge accounting module, and other new related tools where person has developed
• Periodically receive project list including current prioritization on derivative accounting platform and work to execute solutions and improvements
• Active involvement in new deal process including supporting new instrument types, new currencies, and / or new hedge accounting methodologies, etc.
• Establishes and monitors quality goals, ensures quality Investment Accounting practices and communication to associates and management.
• Works with internal departments to assure integrity of data and reports, and continually evaluates quality of information for accuracy and compliance and works to resolve various reporting and process flow problems.

Requirements

Education

Required :

• Bachelor’s Degree in Accounting / Finance or Business Administration or equivalent related work experience
• 8+ years insurance accounting, auditing or Investment Accounting experience
• Strong Knowledge of Derivative Instruments and experience accounting for them
• Independent Project Management or System Management Skills

Experience and Skills

Required :

• Highly motivated self-starter who takes great pride in hands on solving of problems, testing of results, providing of feedback to resolve immediate and strategic issues
• Good knowledge of derivative products including structure of cashflows and usage cases
• Good knowledge of accounting theory and practices with the ability to learn and apply key principles quickly
• Demonstrated ability to deal effectively with complex business scenarios
• Strong ability to quickly adapt to new methods, work under tight deadlines and stressful conditions
• Strong business knowledge with knowledge of broad investments business practices
• Strong ability to multi-task and effectively manage multiple tasks and projects, including the ability to re-prioritize tasks constantly based on the level of activity generated by the team and other associates
• Excellent written and good oral and communication skills, demonstrating the ability to share and impart knowledge and to convey business terminology that is meaningful and well received by all stakeholders, including customers especially IT support persons
• Advanced ability to translate business needs and problems into viable / accepted solutions
• Ability to liaise with individuals across a wide variety of operational, functions, and technical disciplines
• Organized person capable of balancing multiple projects and shifting priorities.
• Patient long view while focusing on obtainable goals
• Ability to balance details with departmental goals / objectives
• Good negotiation and persuasion skills
• Advanced Word and Excel skills
30+ days ago