Hedge Accounting Specialist

1 month ago

Toronto, Ontario, Canada Royal Bank of Canada> Full time

Job Summary

Job Description

What is the opportunity?

The Hedge Accounting Specialist will be responsible for managing financial control responsibilities in the Wholesale Finance group, delivering timely, accurate, and reliable financial information, and working on the reporting and production aspects of RBC's Net Investment, Cash Flow & Fair Value hedge accounting programs to mitigate interest rate & FX risk.

Key Responsibilities

  • Ensure accurate and complete Financial and Regulatory Reporting for Wholesale Finance results.
  • Manage end-to-end hedging workflows and system operations.
  • Prepare daily inception documentation through validating transaction details, performing effectiveness testing, and monitoring counterparty credit risk.
  • Identify and assist in system and process enhancement initiatives.
  • Responsible for ensuring new hedges, products, and transactions are appropriately captured in RBC Financial Reporting Systems, including the appropriate use of GLs and Financial Statement reporting lines.
  • Ensure SOX and RBC EUC documentation compliance and completeness, including new controls/process.
  • Participate in ad-hoc projects as directed by reporting manager.
  • Ensure accurate external reporting, including FS, note disclosures, regulatory reporting, and management reporting.
  • Maintenance of the monthly review program to ensure financial controls are in place and the appropriate reconciliations are completed.
  • Assist in the investigation of all financial and regulatory reporting matters. Maintain technical knowledge and keep abreast of all new accounting developments, including hedge accounting changes.
  • Support the operational execution and implementation of new accounting standards, including IBOR Reform. Assess related financial reporting impact, coordinate, and execute implementation plan.

Requirements

Must Have

  • Knowledge of complex financial instruments and transactions, together with a willingness and interest in developing that knowledge.
  • Highly developed communication, interpersonal, and negotiation skills are considered necessary for the success of this role. Strong financial, analytical, judgmental, and conceptual skills.
  • Ability to manage operations workflows and process improvement experience.
  • Excellent presentation and report writing skills.
  • Strong team skills and work ethic.
  • Hedge accounting knowledge is an asset.
  • Technical competence in relevant financial and statutory accounting standards.

Nice to Have

  • Strong knowledge of the RBC financial systems.
  • Accounting designation or CFA.

Job Skills

Accounting, Business Mathematics, Decision Making, Detail-Oriented, Financial Planning and Analysis (FP&A), Financial Reporting and Analysis, Group Problem Solving, Oral Communications, Results-Oriented, Teamwork

Additional Job Details

Company:

Royal Bank of Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

OFFICE OF THE CFO

Job Type:

Regular

Pay Type:

Salaried

Language:

English

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