Hedge Accounting Specialist

Job Title: Hedge Accounting Specialist
Reporting to:  Head of Financial Reporting
Minimum Mandatory Qualifications: Qualified Accountant
Department: Finance
Location: Sandwith Street
Contract: 9 month fixed term

Job Scope

The Business:
KBC Bank Ireland plc (‘KBC’) is 100% owned by KBC Bank and is one of the leading providers of Financial Services in Ireland. Established in 1973, KBC Bank is part of a major European Financial Services Group, the KBC Group which is headquartered in Brussels. KBC Bank provides a broad range of business and personal banking services and has built an enviable reputation.

The Role:
The role is part of the Financial Reporting Team in KBC Bank Ireland’s Finance Department.  The role is responsible for all aspects of hedge accounting within KBC Bank Ireland.  The role involves working closely with the Treasury colleagues (both in Ireland and Belgium) and local Finance reporting teams.

Essential Duties

Key Duties & Responsibilities:

  • Support and maintenance of hedge accounting strategies in a banking environment

  • Maintain the operation of hedge effectiveness models and testing for different forms of hedging – Macro/Micro Fair Value and Cash Flow hedging

  • Support the provision of relevant reporting for Finance/Treasury/Risk

  • Work collaboratively with Finance and other departmental colleagues to achieve common outcomes

  • Ensuring local hedging aligns to the Group approach (Group forum/guidance in place)

  • Documentation of processes and procedures as required.

Person Specification

The Candidate should possess the following skills and competencies

  • Qualified accountant

  • Strong knowledge of treasury products

  • Strong working knowledge of IAS 39 hedging guidance (general knowledge of IFRS 9 hedging is sufficient at this point)

  • Experience in developing and implementation of hedge accounting in a banking environment

  • Experience of and ability to operationalise hedge effectiveness testing

  • Strong communication skills with an ability to deal with all levels in a confident and professional manner

  • Ability and confidence to challenge current processes and identify alternatives.

  • Good numeracy, analytical and accounting skills.

Core Competencies

The successful candidates will be responsible for the following activities:

Level of Responsibility:

  • Representing Finance on the Hedging matters in local forums as required

  • Latitude to set own agenda within departmental parameters

Risk Profile:

  • Adheres to policies and procedures. 

Leadership & Influence:

  • Demonstrates leadership capabilities

  • Adaptable to needs of others by applying common sense and communicating clearly.

  • Demonstrates PEARL behaviours on a consistent basis.

  • Works cross-functionally within KBCI

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KBC Bank Ireland is an equal opportunities employer.