Senior Vice President, Technical Accounting

BNY External Career Site•New York, NY

1d•Onsite

About The Position

At BNY, our culture allows us to run our company better and enables employees’ growth and success. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world’s investible assets. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving transformative solutions that redefine industries and uplift communities worldwide. Recognized as a top destination for innovators, BNY is where bold ideas meet advanced technology and exceptional talent. Together, we power the future of finance – and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary. We are seeking to add a senior member to Derivatives and Hedging Technical Accounting team. The candidate will be a senior member of a 6 person technical accounting advisory team which supports Treasury business global interest rate and foreign exchange hedge programs >$50B notional. Candidate required to be CPA with experience in application of hedge accounting rules pursuant to US GAAP (FAS 133, ASC 815). This role is located in New York, NY, with required minimum 4 days a week in the office.

Requirements

Experienced CPA professional 10- 20yrs
Strong knowledge of US GAAP Hedge accounting rules and/or experience in audit of hedge programs or direct experience in application of hedge accounting
Successful candidate should have strong communication skills necessary to interact with auditors, regulators and BNY Treasury team in summarizing BNY Hedge programs
Strong knowledge of excel and willingness to embrace new technologies

Responsibilities

Acting as accounting Subject Matter Expert (SME) in US GAAP Hedge Accounting Rules and Requirements by performing advisory services to Treasury personnel on implementation of new hedge strategies and implementation of hedge effectiveness monitoring (interest rate swap, Interest rate option products, Cross-Currency swaps and FX Forwards)
Ensuring timely creation and approval of Hedge Documentation for Approved Hedge Strategies
Review or creation of Hypo trades representing risk component hedged
Review of hedge documentation for compliance with documented hedge strategy
Ensuring reconciliation controls performed to ensure all Hedge Trades executed in designated hedge books have been contemporaneously documented as approved hedge relationships
Finance manager supporting end-to-end hedge accounting and reporting of Treasury Hedge Activities:
As manager, act as owner of teams end-to-end accounting controls for hedge programs including monthly review of key GL checks
Lead partner in implementation of new hedge programs, ensuring accounting systems appropriately segregate hedging derivatives for automated accounting, and hedge designation tracking
Perform monthly and quarterly hedge effectiveness monitoring and reporting
Ensuring Corporate Accounting Policies updated to reflect new hedge strategies
Act as direct point of contact to External Audit, Internal Audit, SOX, and or regulators associated with data requests associated with Global Hedge programs

Benefits

BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy.
We provide access to flexible global resources and tools for your life’s journey.
Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.

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