Manager Policy Hedge Accounting
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See yourself in our team
Financial Services partner with all areas of CommBank to provide specialist advice on financial management and strategy. This advice covers Finance, Audit, Treasury, Investor Relations, Security, General Procurement and Property.
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.
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.
Do work that matters
The role will be responsible for:
- Providing guidance and sign off in relation to new or revised Group wide transactions to ensure the hedge accounting implications are identified, documented and implemented in compliance with the prevailing accounting standard(s)
- Analysis of new or amended accounting standard guidance to ensure continued compliance, solve accounting problems or proactively look for opportunities to improve the hedge accounting solution(s) in place. Close engagement with a range of internal and external stakeholders, including auditors to ratify as required
- Review and approval of newly designated hedge relationships to ensure accuracy and completeness of hedge accounting application and documentation. Working with the team to identify gaps and strengthen controls
- Producing detailed derivative and hedge accounting related disclosures for the Group financial statements; seeking to improve and enhance external disclosure and internal supporting processes
- Develop and maintain Group hedge accounting related policy, guidance and applicable accounting file notes to support new strategies
- Preparation of accurate and timely analysis of Balance Sheet and Profit or Loss movements to support management reporting and periodic regulatory submissions. Provide detailed insights on the drivers of observed movements and apply deep understanding of the relevant market factors driving the accounting outcomes
- Assisting in the delivery of hedge accounting education and training to a range of internal stakeholders
We’re interested in hearing from people who have
- Degree qualification in Accounting, Commerce, or Finance
- CA/CPA qualification
- Detailed knowledge of treasury products, pricing and associated accounting treatments
- Well-developed understanding of hedge accounting concepts and principles
- Experienced in interpreting and implementing financial accounting standards
- 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.
- Risk Mindset – All CommBank employees are expected to proactively identify and understand, openly discuss and act on current and future risks.
If you're already part of the Commonwealth Bank Group (including Bankwest), 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: 26/10/2021
For further information, and to apply, please visit our website via the “Apply” button below.