Manager Hedge Accounting | S3 | CFO Division | London | Internal Mobility

Manager Hedge Accounting | S3 | CFO Division | London | Internal Mobility

Country: United Kingdom

IT STARTS HERE

Santander ( www.santander.com) is evolving from a global, high-impact brand into a technology-driven organisation, and our people are at the heart of this journey. Together, we are driving a customer-centric transformation that values bold thinking, innovation, and the courage to challenge what’s possible.

This is more than a strategic shift. It’s a chance for driven professionals to grow, learn, and make a real difference.

Our mission is to contribute to help more people and businesses prosper. We embrace a strong risk culture and all our professionals at all levels are expected to take a proactive and responsible approach toward risk management.

THE DIFFERENCE YOU MAKE

CFO | Technical Accounting is looking for a Hedge Accounting Manager based out of London.

An exciting opportunity has arisen for a technically minded Senior Professional to join the Hedge Accounting team. If you have a keen interest in hedge accounting, ALM product control and/or the wider Treasury function of a bank and wish to develop these specialist skills further, then this role could be for you.

You will be part of the wider Group Reporting & Technical Accounting team who provide financial accounting and reporting services. The hedge accounting team supports the wholesale market activities of Santander UK group as well as performing controls, monitoring and oversight. While reporting directly to one Senior Manager, you will be expected to contribute widely to the duties of the wider team with opportunities to rotate between functions to broaden your knowledge and experience.

We’re shaping the way we work through innovation, cutting-edge technology, collaboration and the freedom to explore new ideas. To succeed in this role, you will be responsible for:

• Producing IFRS 9 hedging documentation (including hedge effectiveness testing) necessary for applying hedge accounting within the Santander UK group, including the preparation and posting of hedging journals

• Performing necessary reconciliations and balance sheet substantiation (“AORP”) for hedge accounting balances to ensure IFRS9 hedge accounting is complete and accurate, and in accordance with Group accounting and risk policies.

• Reporting daily attributed P/L for ALM business units and explaining the key drivers of income volatility

• Providing a full audit trail for all accounting and reconciliation processes and ensuring that the control infrastructure around the reconciliation process is robust.

• Supporting management in investigating and providing proper explanations for any issues or unusual items in hedged packages, when they arise, in an expedient manner.

• Ensuring the End-to-End Control framework is in place and operating effectively to ensure completeness, accuracy, and valuation of trades.

WHAT YOU’LL BRING

Our people are our greatest strength. Every individual contributes unique perspectives that make us stronger as a team and as an organisation. We’re enabling teams to go beyond by valuing who they are and empowering what they bring.

Professional Experience

• Experience in Treasury Finance / Product Control / Risk Management or extensive audit experience of financial institutions / financial instruments (REQUIRED)

• Experience in accounting for financial instruments under IFRS9 (REQUIRED)

• Experience in fair value and cash flow hedge accounting (PREFERRED)

Education

• A qualified or part qualified accountant or equivalent through experience or similar qualification (REQUIRED)

Languages

• English (REQUIRED)

Hard Skills

• Strong technical accounting knowledge of IFRS 9, IFRS 7 and IAS 39 (REQUIRED)

• Good financial instrument product knowledge especially interest rate and cross currency derivatives (REQUIRED)

Soft Skills

• Excellent attention to detail, has a methodical approach, with excellent MS Excel skills (PREFERRED)

• Self-starter with the ability to work accurately under pressure (PREFERRED)

• Ability to work independently while managing multiple and conflicting priorities and to very tight timelines (PREFERRED)

WE VALUE YOUR IMPACT

At Santander, your contribution matters. We recognise the difference you make every day, and we make sure you feel valued, supported and rewarded in return.

Here, recognition goes beyond pay. It’s about the pride you feel in your work, the impact you have on customers and communities, and the opportunities you have to grow and thrive — personally and professionally.

• Competitive rewards that reflect the real impact you make and the value you bring.

• Wellbeing that goes beyond work — we work with a range of wellbeing partners across our 4 pillars of wellbeing (physical, mental, social and financial) to give you access to a suite of apps, discounted gym and fitness access, weekly online classes, flexible healthcare and mental health support.

• Support for every life stage — from menopause and pregnancy to parenthood and beyond, with enhanced family leave, childcare options and tailored wellbeing support.

• Time to give back through volunteering opportunities that let you make a difference in the communities we serve.

• Global growth opportunities to shape your career, learn new skills and explore what’s possible across our international network.

Ready to be recognised? It starts with you.

LOCAL COMPLIANCE

At Santander, we’re proud to be an inclusive organisation that provides equal opportunities for everyone — regardless of age, gender, disability, civil status, race, religion or sexual orientation.

We’re committed to creating a recruitment experience that’s accessible, fair and welcoming for all candidates.

We want our people to thrive — at work and at home — while delivering the best outcomes for our customers and supporting each other to grow.

To make this possible, our roles are site-based with a hybrid working pattern, where colleagues are expected to attend the office at least 12 days per month (pro-rata for part-time roles).

When applying, please consider the travel distance, time and cost to your chosen office location(s).

We welcome applications on the understanding that, should you be offered this role, there may be no relocation package available. Santander will pay the employer mandatory government fees that are required to pay in connection with visa sponsorship. You may be liable for your own personal employee immigration and relocation costs.

WHAT TO DO NEXT

If this sounds like a role you are interested in, then please apply.

For further Guidance please visit Internal Mobility - Candidate Guidance.

Please contact Heiko Hientzsch - Sign in to view email