Hedge Accounting Manager
3 weeks ago
Requisition ID: 204124
Become part of a results-oriented team that thrives in an inclusive and high-performance culture.
Contribute significantly to the success of the Accounting Policy and Procedures Group. The incumbent will implement Hedging Strategies in accordance with International Financial Reporting Standards (IFRS) to ensure the Bank qualifies eligible derivatives for hedge accounting treatment, thereby mitigating any volatility in the Bank's earnings and enhancing value for business lines. This role offers the opportunity to gain experience with systems and technical accounting knowledge across a variety of the Bank's financial products, valuations, analyses, and reporting. Engage with global business partners and manage diverse projects focused on system development and operational process enhancements. This dynamic team operates under a hybrid model, balancing in-office and remote work.
Is this position a fit for you? In this role, you will:
- Collaborate regularly with front office and other business lines regarding their hedging requests. Assess eligibility, identify associated strategies, or establish new strategies, and complete necessary documentation.
- Continuously monitor hedging relationships to ensure they meet the criteria for hedge qualification and maintain high effectiveness.
- Ensure all instruments in hedging relationships are active and obtain monthly confirmations of hedged item existence and hedge activity from various business areas.
- Oversee month-end closing processes by reconciling, analyzing, and communicating hedge accounting results for various hedging units to Group Treasury and other business partners.
- Prepare information for quarterly and annual financial disclosures. Additionally, provide support for ad-hoc analyses and financial reporting.
- Stay updated with emerging industry best practices for hedge qualification through research and critical analysis of publications from regulatory bodies and industry associations.
Do you possess the skills that will enable you to excel in this role? We would be eager to work with you if you have:
- A self-driven, analytical, and collaborative mindset; strong problem-solving, time-management, and communication skills.
- A solid understanding of finance and financial products, including various derivatives.
- A post-secondary degree in Finance, Accounting, or Business, with a minimum of 4 years of industry experience. An accounting designation (CPA) or progress towards one is an asset. A CFA designation is desirable.
- Familiarity with Peak or system trading systems, PeopleSoft EGL, OBI, Excel, and PowerPoint.
What benefits can you expect?
- An inclusive and collaborative work environment that fosters creativity, curiosity, and celebrates achievements.
- A competitive rewards package that includes a performance bonus, Employee Share Ownership Program, Pension Plan Matching, and Health Benefits from day one.
- Opportunities for career development and progression are available.
#scotiafinancejobs
Scotiabank is a leading bank in the Americas, guided by our purpose: "for every future." We assist our customers, their families, and their communities in achieving success through a broad range of advice, products, and services, including personal and commercial banking, wealth management, private banking, corporate and investment banking, and capital markets.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank and are committed to creating and maintaining an inclusive and accessible environment for everyone.
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