Hedge Accounting Transformation PM

London, United Kingdom
£700/ Day PAYE, £908.83/ Day Umbrella
17 Jun 2022
28 Jun 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Hedge Accounting Transformation PM

London - Hybrid: 2-3 Days/ Week

£700/ Day PAYE, £908.83/ Day Umbrella

12+ Month Contract

Project Lead role, tasked with driving continued planning and execution of the Markets Treasury (MKTY) Hedge Accounting Transformation Project on a global basis through to completion, a project in progress for some time. The role will require senior stakeholder management, as well as a strong knowledge of Treasury and Product Control (ideally Hedge Accounting) in particular, and in depth understanding of MKTY activity across HSBC (what they trade / why they trade / business areas impacted).

Key responsibilities are to drive the continued transformation project to meet all stakeholders expectations internally and externally. The role will require extensive liaison with business and desk heads, all support functions, change teams and technology. The role will also demand the individual to be able tailor messages for differing levels including all levels up to Treasury and MSS leadership.

The role holder will be aligned to MSS and MKTY Transformation and the associated opportunities to transition to other transformation programmes following project closure.

Major Challenges

The project is tasked with delivery process and system enhancements to support more effective hedge execution, hedge accounting application and controls, as well as optimising capacity and the related processes for hedge accounting. This will require an understanding of the affected products (Rates products; IR derivatives, bonds and loans), and the associated accounting and control requirements.

The project scope covers several areas:

(i) Enhancing bau controls on hedge designations

(ii) Implementation and roll out of workflow tooling for hedge capacity forecasting

(iii) Design, implementation and rollout of front office and product control tooling to streamline and automate hedge effectiveness assessment, hedge execution and f2b processes related to application of hedge accounting

(iv) Coordination stakeholders across regions to progress set up of new macro cashflow hedging pools

The expectation is that this role is 'hands on' and require firm, transparent ownership of the programme leadership, backed up by clear, concise and appropriate communications style, as well as an ability to get into detail and ensure planning and execution is well managed. This should be underpinned by an individual able to exercise multiple influencing styles to get the programme fully shaped and executed

Role Context

Large scale global matrix organisation across regions with a steering committee in the UK. The successful candidate will need to be able and willing to operate in across the globe and drive Treasury strategy.

Observation of Internal Controls (Compliance Policy / FIM requirements)

Ability to highlight and document key control impacts and country specific risks. The successful candidate should have a keen awareness of operating model impacts and the ability to drive out changes to these, in an operationally robust manner.

Technical Skill Requirements

• Proven project management skills. Able to flex influencing and communications styles depending on audience without losing focus or outcome. Should be able to operate within a matrix organisation

• Proven record of delivering successful transformation for material initiatives

• Strong analytical and documentation skills, be detail oriented, and have a proven track record of understanding changes to operating models caused by regulatory change especially as this relates to platforms, people, processes and policy/procedures and working through to their implementation.

Educational Requirements

Degree preferred

Experience and Skills

Demonstrable understanding and experience of programme/project management

Understanding of treasury set-up within an investment bank and the ability to link this to trading activity and risk management

Knowledge and experience of fixed income products (and benchmarks)

Understanding of hedge accounting and associated Treasury and Product Control actvity

Front to back change experience

Excellent communication skills and an ability to interact effectively with colleagues of varying degrees of knowledge and with different skills set (day to day reporting to COOs) - experience of business management and working closely with and/or on desks is advantageous

Strong internal stakeholder engagement skills and the ability to work with senior level stakeholders across different disciplines (Desk Heads, Business Management/COO, Risk, Product Control, Compliance, etc).

'Self starter' able to take the initiative, be able to work with limited supervision and can facilitate meetings/ workshops/working groups as required.

Worked on large change projects that have had multi country disciplines.

Ability to work within in a large geographically diver matrix organisation.

Our client HSBC are currently seeking an experienced Senior Business Analyst to join their team in the London office/remote working, this contract will be for 5 months with a review to be extended.

Please also see below link to our HSBC Career hub: -


If you are relevant or interested please don't delay, contact me on 0161 503 5558/ Curtis.Sharpe@jeffersonwells.co.uk

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