Analyst Operations Hedge Accounting

Sydney, CBD Area
Not disclosed
14 Sep 2023
11 Oct 2023
Approved employers
Approved employer
Contract type
Full time
Experience level
Qualified accountant

In Financial Services, we support the Group’s strategy of building tomorrow’s bank today for our customers, through a focus on three key priorities of trust, resilience and capital generation. Financial Services partner with all areas of CommBank to specialist advice, support and services in finance, audit, treasury, property, procurement, climate strategy and investor relations.

See yourself in our team

The hedge accounting team is part of the Treasury Finance function within Group Finance.

The team performs accounting/hedge accounting and financial reporting for derivatives in hedging portfolios mainly Group Treasury including ALM, Liquidity Operations, Capital Management, Securitisation and Group Funding in order to protect Group profits, capital and dividends from volatility.

Do work that matters

The hedge accounting operations team play a vital role in ensuring the day-to-day accuracy and robustness of the hedge accounting solution. You will support the team so that the appropriate hedge accounting treatment is reflected in our systems and financial results.

Your Responsibilities:

  • Support the deal and hedge relationship capture in the internal hedge accounting database (CHARMS) including associated documentation, accounting rules and effectiveness testing
  • Review the designation and de-designation of hedges for compliance with AASB139 and review hedge effectiveness results, analyse/identify reasons for hedge failures and de-designate hedge relationships as required
  • Provide analysis to management on P&L and BS movements and impacts
  • Prepare monthly IFRS accounting journals, pass journals to PeopleSoft ledger and provide documentary support and analysis, including tax requirements
  • Perform monthly reconciliations of CHARMS to PeopleSoft GL to ensure accuracy and completeness from source systems.
  • Build relationships and liaise with other Treasury Finance teams, offshore branches and various trading desks

We’re interested in hearing from people who have:

  • Knowledge of treasury products, pricing and associated accounting treatments.
  • Sound understanding of hedge accounting concepts and principles
  • Ability to apply critical thinking and an analytical approach to problem solving
  • Strong database query tools, reporting tools, MS Excel, general ledger and product systems such as Murex.

Is this your next challenge, apply Now!

If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.

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Advertising End Date: 13/10/2023

For further information, and to apply, please visit our website via the “Apply” button below.

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