Part Time Senior Hedge Accountant

Job Family Corporate Functions The Role

Shawbrook is a specialist UK lending and savings bank founded in 2011 to serve the needs of SMEs and individuals in the UK with a range of lending and savings products.

We differentiate ourselves by concentrating on markets where our specialist knowledge and personalised approach to underwriting offer us a competitive advantage. This supports attractive stable returns and sustainable growth and benefits businesses and consumers in parts of the market which continue to be poorly served by traditional high street banks. Fundamental to our success is a relationship focus which puts the interests of our customers and business partners at the heart of everything we do, built on a culture which stresses the use of our experience and judgement to make decisions that balance risk, return and customer need.

We are currently looking to appoint a part time Senior Hedge Accountant to own all aspects of Hedge Accounting from a middle office perspective. As an expert in Hedge Accounting this person will also be responsible for advising Treasury Team in hedge strategy and the impact of hedge accounting. We envisage the successful candidate to join us on a 3/4 day a week basis, but we can be flexible for the right candidate. This role offers a career platform for a self-motivated qualified accountant to progress quickly in a well-respected and dynamic bank. You will be working closely with Finance and Risk and the role will ensure exposure to senior management on a Board level.


  • Assess derivative transactions for hedge accounting treatment under IAS39/IFRS9
  • Ensure all hedges are appropriately documented in line with company policy
  • Calculate and monitor hedge effectiveness
  • Generate and check all related accounting entries
  • Liaise closely with internal stakeholders on all internal controls and financial statement reporting
  • Liaise closely with external auditors on any key changes to hedge accounting policy or procedures
  • Prepare the hedge accounting derivatives disclosures
  • Provide commentary and analytical review of the monthly ineffectiveness
  • Prepare and present the Hedge Accounting Pack on a monthly basis
  • Prepare the reconciliations for the relevant hedge accounting nominals at month end
  • Own the set -up of hedge accounting codes in the general ledger and in the TM1 external reporting hierarchy
  • Prepare Board Audit Committee papers on hedge accounting as and when required
  • Follow developments in external financial reporting and industry best practice and ensure that these are correctly
  • interpreted and implemented
  • Assist with any hedge accounting impacts on Securitised transactions
  • Lead the preparation of relevant sections of the ALCo pack
  • Present the relevant sections at the ALCo
  • Develop efficient processes to transfer information from the bank’s data warehouse into its hedge accounting system
  • Relationship and stakeholder management with external parties including auditors and corporate advisors
  • Strong focus on developing automated reporting tools linked to the ledger systems
  • The Person
  • ACCA/ACA (or equivalent) qualified
  • In depth knowledge of technical accounting and listed company reporting requirements
  • Broad and in depth understanding of hedge accounting
  • Proven understanding of the external reporting process within a listed financial services environment
  • Strong understanding of the principals of risk management and compliance
  • Proven knowledge of reporting/consolidations packages, i.e. Hyperion/TM1
  • ALMIS and Bloomberg knowledge an advantage
  • Banding

    This role is an SB3 within Shawbrook’s internal banding structure