Acies
Website:
acies.holdings
Job details:
Highlight of the engagement opportunity
- Nature of role: Full time
- Number of years of experience expected: 8 to 10 years
- Areas of past experience preferred: Hedge accounting/ Derivatives/ Treasury, Derivatives accounting, IFRS 9/ ASC 815
- Educational qualification required: CA / ACCA
- Additional certifications preferred: IFRS Diploma
- Preferred geography of previous work experience: India / Europe / APAC / US
- Language requirements: Ability to write and speak fluently in English
- Technology proficiency preferred: Bloomberg, SAP, other hedging applications
Our business consulting practice is keen to hire a Senior Accounting Advisory Manager with deep subject matter expertise in the areas of IFRS implementation, hedge accounting, CFO advisory and accounting standard transitions. The professional will be responsible for delivery and sales associated with the subject matter areas.
This involves frequent contact across all stakeholders, managing and building a team of subject matter experts, developing proposals, innovation in accounting areas and market outreach for supporting the business.
Key responsibility areas:
- Hedge Documentation & Designation:
-Establish formal, "audit-proof" documentation at the inception of every hedge relationship. This must include:
-Identification of the hedging instrument and hedged item.
-The nature of the risk being hedged (e.g., FX, interest rate, or commodity price).
-The specific risk management objective and strategy.
-Methods for assessing hedge effectiveness.
-Effectiveness Testing: Perform regular assessments to ensure an economic relationship exists between the hedge and the hedged item.
-Conduct prospective testing at inception and on an ongoing basis (interim and annual).
-Use qualitative (critical terms match) or quantitative methods (dollar-offset, regression analysis) depending on complexity.
-Measurement & Recording: Calculate and record fair value changes for derivatives (e.g., swaps, forwards, options).
-Measure and immediately recognize hedge ineffectiveness in the Profit & Loss (P&L) statement.
-Manage the Cash Flow Hedge Reserve in Other Comprehensive Income (OCI) and ensure timely "recycling" to P&L.
-Financial Reporting & Disclosures: Prepare detailed disclosures as required by IFRS 7. This includes reporting on risk management strategies, the impact on financial position, and sources of ineffectiveness.
- Ind AS 116 – Lease accounting:
-Compute EIR for lease liabilities under Ind AS 116 / IFRS 16
-Calculate incremental borrowing rates (IBR) where implicit rate is not readily determinable
-Reassess EIR impact for lease modifications, remeasurements, and changes in lease terms
-Align EIR calculations with ROU asset and lease liability amortization
- Effective interest rate computation:
-Calculate and apply Effective Interest Rate (EIR) in accordance with Ind AS 109 / IFRS 9 / IAS 39
-Develop and maintain EIR amortization schedules for loans, borrowings, lease liabilities, and financial instruments
-Incorporate transaction costs, fees, premiums, discounts, and incentives into EIR calculations
-Ensure accurate allocation of interest income or expense over the life of the instrument
Others:
- Provide advisory and documentation to clients in financial services pertaining to process optimization and process improvements in line with their digital transformation requirements.
- Undertake discussions with client business users to understand business requirements.
- Drive the day-to-day execution of assigned projects.
- Write technical / supervisory memos / advisory documentation.
- Analyze financial statements and suggest treatment for different financial assets / liabilities under different accounting standards.
- Provide advisory services to clients on areas related to IFRS 9 including impairment modelling, hedge accounting and EIR based amortization.
- Accounting treatment for different products as per the local regulatory requirements and accounting standards.
- Advise clients on high-profile mandates in the financial services space with regards to complex and strategic issues.
- Undertake project management services for ensuring smooth and timely closure on projects
Other important information:
- Work permit requirements: Either Indian Citizen or having valid work permit to work in India
- Period of engagement: Full-time position
- Probation period: 6 months
- Compensation: Compensation varies depending on the skill, fitment and role played by the person. Compensation discussions will take place post the selection process.
- Performance incentives: Typically, all roles at Acies have a performance incentive. Specific aspects will be discussed during the compensation discussion
- Leave: 22 working days a year. Additional leaves for national holidays, sick leaves, maternity and paternity, bereavement and studies vary based on the city and country of engagement.
- Other benefits: Other employment benefits including medical insurance will be informed during the compensation discussion.
- Career growth for full-time roles: Acies believes in a transparent and data-based performance evaluation system. You are encouraged to clarify any questions you have with respect to career growth with Acies personnel you interact with during the selection process.
- Career opportunities for part-time roles: Conversion of part-time roles to full-time roles depends on both performance of the individual and business needs. You are encouraged to ask about the prospects as you interact with Acies personnel during the selection process.
- Global mobility: Acies encourages mobility across our offices. Such mobility is, however, subject to business needs and regulations governing immigration and employment in various countries.
Selection process:
We seek to be transparent during the selection process. While the actual process may vary from the process indicated below, the key steps involved are as follows:
- Interview: There are expected to be at least 3 rounds of interviews. The number of interview rounds may increase depending on the criticality and seniority of the role involved.
- Final discussion on career and compensation: Post final selection, a separate discussion will be set up to discuss compensation and career growth. You are encouraged to seek any clarifications you have during this discussion.
Preparation required:
It is recommended that you prepare on some of the following aspects before the selection process:
- Understanding of products / exposures in the financial services industry (Banks / NBFC / Insurance)
- Requirements of new accounting standards and changes from the previous versions for standards such as IFRS 9, IFRS 15, IFRS 16, IFRS 17 or their equivalent local standards
- Subject matter and sales expertise
For any additional queries you may have, you can send a LinkedIn InMail to us, connect with us at https://www.acies.consulting/contact-us.php or e-mail us at careers@acies.holdings.
How to reach us:
Should you wish to apply for this job, please reach out to us directly through LinkedIn or apply on our website career page - https://www.acies.consulting/careers-apply.html
Click on Apply to know more.