Treasury  FX Hedge Accountant

£60,000 to £85,000 Salary depending on Experience

A newly created opening for a qualified person with experience in treasury and hedge accounting to join the expanding department within the group head office based in Stoke-on-Trent. The purpose of this position is to enhance the Group’s current treasury function, reporting directly to the Group Chief Accountant and the Main Board. There will normally be 2 persons reporting to the Treasury manager / hedge accountant and the role will require readiness to be hands on and able to work as part of a small team.

 

Main duties & responsibilities of person

  • Responsible for the currency hedging and transactional banking activities of the Group
  • Daily Cash Management and Payment Authorisation for the UK entities; consisting of over 30 UK bank accounts and the management of balances within the set down overdraft limits
  • Projected cash flow reporting; short and long term (2 year rolling) cash flow forecasting
  • Management of the Group’s FX, including the proposal of hedging strategies to the board and working with the key banks to execute the approved hedging strategy.
  • Conduct key accounting and reporting activities for the Group’s cash flow hedging activities – formal reporting twice a year in line with the Group’s published accounts with reviews of the currency ledgers on a quarterly basis.
  • Implementation and maintenance of hedge accounting relationships for the Group consistent with the requirements of IFRS 9, including the preparation of hedge documentation, performing hedge designations or de-designations and supporting hedge effectiveness testing process when required
  • Preparation of general ledger account reconciliations for derivative transactions to ensure integrity of accounting data
  • Providing insight into derivatives movements and provide suitable commentary for review
  • Execution of currency swaps and forward contracts using the FX portals of the Banks.
  • Provide support to the Board when renewing / rolling existing banking facilities and any applications for new facilities.
  • Any additional activities as deemed appropriate.

 

Requirements:

  • Qualified accountant (ACA, ACCA, or CIMA) with significant technical accounting experience with in depth knowledge of hedge accounting under IFRS 9 (commodities, currency and interest rate hedging)
  • Recognised Treasury qualification (ACT or equivalent) is desirable
  • An eye for detail and accuracy in reporting
  • Readiness to be hands on and work as part of a small team
  • A discerning, challenging individual who is determined to add value to the role and is looking to provide practical real world solutions to what can be complex theoretical problems.
  • To live or move to a location that is within 45 minutes max traveling time to Stoke on Trent  A relocation allowance would be considered.

For more information please forward you CV in confidence to John Hutchinson and I will call you to discuss further.

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