Senior Product Control Analyst- Hedge Accounting

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At HSBC, the health and well-being of our employees remains of utmost importance. Many of our roles are permitted to work from home (in states in which HSBC is licensed to operate) until further notice. Upon resumption of normal operations, this role may be performed at our New York, New York office.

The Senior Product Control Analyst- Hedge Accounting will be the product controller of fixed income and FX products for Markets Treasury, with specific responsibility and oversight over the hedge accounting process.

Our purpose - Opening up a world of opportunity - explains why we exist. We're here to use our unique expertise, capabilities, breadth and perspectives to open up new kinds of opportunity for our more than 40 million customers. We're bringing together the people, ideas and capital that nurture progress and growth, helping to create a better world - for our customers, our people, our investors, our communities and the planet we all share.

You will be responsible for:
  • Overseeing and coordinating hedge accounting in accordance with IAS #39 and FAS #133 rules - fair value and cash flow hedging activities
  • Assisting in on-going monitoring and testing for hedge efficiency on existing deals
  • Assisting in hedge accounting documentation, including initial hedge testing
  • Daily/weekly/monthly analysis of hedging results along with P&L explain and commentary
  • Producing monthly commentary on hedging results of various portfolios supported
  • Participating in and overseeing selected projects within Finance and Balance Sheet Management
  • Oversight of near-shore support team, coordinating their efforts to best support the New York team
  • Supporting and investigate new/proposed hedging strategies
  • Building and maintaining strong teamwork between onshore and offshore locations. Proper and timely escalation of issues to management.
  • Working effectively within the Regional Hedging Unit. Builds and maintains a strong communication network with key partners.


Qualifications

  • Strong knowledge of interest rate and FX products including controls, reconciliations, etc.
  • Strong Finance skills including understanding of risk management and P&L attribution
  • BS in Finance/Accounting at a minimum, CPA or MBA with a concentration in Accounting is preferred, CFA also desirable
  • Preferable to have minimum of 3 years of experience in a top-tier public accounting firm with experience in financial services industry, preferably in fixed-rate derivative products
  • Strong skill-set with an understanding/insight into operational issues of fixed income products, including an aptitude towards working with bond math.
  • Working knowledge of IFRS and/or US-GAAP accounting standards
  • Multi-tasking with focus on product controlling, finance and accounting
  • Strong/Excellent computer skills (Excel, Word, etc.), knowledge of Summit or other derivative trading systems a plus
  • Excellent team player, capable of working with others in a dynamic environment
  • Excellent verbal and written and communication skills

As an HSBC employee, you will have access to tailored professional development opportunities and a competitive pay and benefits package. We work hard to ensure that our workplace is a diverse, inclusive and meritocratic environment, and we have a strong dedication to sustainability. Our Employee Resource Groups (ERGs) play a central part in life at HSBC, including the development of our employees and our connection to the communities and customers we serve. We value difference. We succeed together. We take responsibility. We get it done. And we want you to help us build the bank for the future!

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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.