LIBOR Business Analyst - Hedge Accounting

  • GBP500 - GBP600 per annum
  • London, England, United Kingdom
  • Temporary, Full time
  • Michael Page
  • 15 Mar 19

LIBOR Business Analyst - Hedge Accounting role is to coordinate Product Control's work, including documentation and development requirements, to support the implementation of changes resulting from the introduction of the" to Risk Free Rates (RFRs) indices and transition away from "IBORs", particularly focussing on Hedge Accounting.

A major global bank based in London.


LIBOR Business Analyst - Hedge Accounting role is to coordinate PC's work, including documentation and development requirements, to support the implementation of changes resulting from the introduction of the RFRs, particularly focussing on Hedge Accounting. The role will also involve enhancing Product Controls interaction through collaboration with the wider Finance working group, Group Accounting Policy (GAP) and external stakeholders.

  • Identify changes in external accounting, regulatory and legal requirements that will have an impact on the Hedge Accounting for the Group.
  • Analyse requirements for the delivery of a suitable Hedge Accounting framework in line with existing or new Group accounting policies.
  • Write and document the requirements clearly articulating the execution of deliveries needed to support Hedge Accounting both under the IBOR transition period and beyond.
  • Formulate and recommend specific actions to be undertaken providing detailed practical guidance on implementation of the policies and accounting framework.
  • Document all relevant Key Controls to be embedded as part of the delivery to support a robust and sustainable framework.
  • Provide support to the Finance working group and other ad-hoc working groups.
  • Co-ordination of Product Control's contribution towards the wider IBOR programme.

The successful applicant will be a key member who will contribute to the relevant subject matter expert ('SME') teams within Product Control and Hedging Unit and will liaise with senior stakeholders in the IBORs transition project.

Major Challenges (inherent in the role that require a continual test of the role holder's abilities)

  • Accounting Complexity - Stringent accounting rules for the different types of hedges which need to be complied with to ensure that the results of hedging are accurately reflected in the accounting records.
  • Ongoing Monitoring - Complex testing processes are required to be performed and evidenced throughout the life of the hedge.
  • Challenging deadlines to deliver "IBOR" transition, analysis and documentations and meet regulatory requirements.
  • Strong understanding of the "IBOR" transition impact on Valuation, P&L and Accounting IT systems.
  • Communication across numerous teams and functions - PC, Finance Change and IT, Front office and GAP.
  • Effective leveraging of resources to ensure that internal and regulatory expectations can be met whilst maintaining appropriate control standards.


LIBOR Business Analyst - Hedge Accounting should possess the following skills and experience:

  • Accounting, business or relevant degree qualification or equivalent experience.
  • Understanding the operation, risk and accounting of banking products, including good knowledge of financial instruments and practices (if not held at start, rapid accumulation of this knowledge is required);
  • Knowledge and experience of applying IFRS accounting standards in practical business situations within Financial Services;
  • Self-motivated, proactive and delivery focused, but who is also able to demonstrate strategic vision and a strong ability in problem solving.
  • Excellent analytical and communication skills, both written and verbal; specifically, to present and document requirements in a clear and concise manner appropriate to the audience.
  • Team player with positive service attitude with an understanding of the project lifecycle and an understanding of risks and issues and when and how they should be escalated.

Job Offer

£500 - 600 per day