Treasury Hedge Accounting Manager

Business Unit: Group Finance
Salary range: £68,000 - £85,000 per annum DOE + red-hot benefits
Location: UK Flexible with occasional travel to a hub
Contract Type: Permanent

Live for the weekday. Live a life more Virgin.

Our Team

The Treasury Finance Team is a team of 12 who contribute to the financial and management accounting for treasury products and transactions.

Despite the teams' physical distance, our communication channels and shared platforms bring us together to provide treasury accounting solutions.

Reporting to the Treasury Finance Lead Manager you'll provide expertise in accounting for derivatives and other complex financial instruments.  This includes macro fair value and cashflow hedging, and a range of micro hedges, as well as FVTPL and FVOCI accounting. You'll be responsible for the provision of management reporting to support business strategies, targets, and objectives.

What you'll be doing

• Producing monthly derivative and FVOCI management reporting, including journal entries, reconciliations and commentary, and ownership of ledger structure and mappings to facilitate this process.
• Completing monthly BAU Hedge Accounting activity including maintaining hedge relationships, hedge effectiveness calculations and accounting entries.
• Ensuring compliance with procedures and regulations, as well as maintaining proper procedure documentation. Suggesting and executing improvements to the financial governance within the derivative accounting area and be able to explain processes to other impacted teams.
• Developing and maintaining IFRS compliant design and documentation of Hedge Accounting designations, de-designations, and re-designations.
• Strengthening hedging strategy for Profit & Loss volatility management and identifying opportunities for both process and strategy developments. This includes proactive advice on Hedge Accounting strategies and Profit & Loss presentation alternatives for preparing business results.
• Developing and coaching junior colleagues.
• Producing relevant statutory and regulatory documents for Group and Company reporting.
• Maintaining awareness of IFRS exposure drafts and guidance notes related to Treasury products and transactions, assisting policy development and implementation.
• Ad hoc technical accounting guidance on new Treasury products and business structures.

We need you to have

• ICAS or equivalent qualifications or experience Experience in Hedge Accounting
• Knowledge of hedge effectiveness and accounting technologies
• Experience in accounting for complex financial instruments, specifically derivatives and related products
• Proficient in management and statutory reporting
• Thorough understanding of business processes, controls and audit trail requirements
• IFRS accounting knowledge, specifically in IAS 32, IAS 39, IFRS 7, IFRS 9 and IFRS 13

 It's a bonus if you have but not essential

• Experience in the use and application of analytics and key business metrics
• Experience in financial systems change and report development processes.

Red Hot Rewards

• Generous holidays - 38.5 days annual leave (including bank holidays and prorated if Part–Time) plus the option to buy more
• Up to five extra paid well-being days per year 
• 20 weeks paid, gender-neutral family leave (52 weeks in total) for expectant parents and those looking to adopt 
• Market-leading pension
• Free private medical cover, income protection and life assurance
• Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness 
• Ability to work anywhere in the UK (where the role allows) 

And there's no waiting around, you'll enjoy these benefits from day one.

Feeling insatiably curious about this role? Apply as soon as you can. If we're lucky to receive a lot of interest, we may close the advert early and would hate you to miss out.

We're all about helping you Live a Life More Virgin, so happy to talk flexible working with you.

Say hello to Virgin Money
We're making great strides towards achieving our ambition of becoming the UK's best digital bank.  As a full-service digital bank with a heritage stretching back over 180 years, we`re a workforce to be reckoned with.  We're putting the full power of our experience behind disruptive ideas that reinvent the role a bank plays in people's lives. We strive to create positive experiences for our millions of customers and our purpose, ‘Making You Happier About Money', underpins everything we do. We believe in doing banking differently, innovating and working together to make a real difference. Join us and Live a Life More Virgin that empowers you with choice and flexibility in how you work.

Be yourself at Virgin Money
Our purpose is to make people happier about money, this means seeing and feeling the world as our customers do by creating a workforce that reflects the rich diversity of our customers and communities.  We're committed to creating an inclusive culture where colleagues feel safe and inspired to contribute, speak up and be heard.  

As a Disability Confident Leader, we're committed to removing any obstacles to inclusion.  If you need any reasonable adjustments or support making your application, contact our Talent Acquisition team

Now the legal bit
Living A Life More Virgin allows our colleagues to be based anywhere in the UK (if the role allows it), but we'll need you to confirm you have the right to work in the UK.

If you're successful in securing a role with us, there are some checks you need to complete before starting. These include credit and criminal record checks and three years' worth of satisfactory references. If the role is part of the Senior Manager Regime and Certification Regime, it requires enhanced pre-employment checks - we'll ask for six years of regulatory references, and once in the role, you'll be subject to periodic employment checks.