Director - Hedge Accounting, Global AP&P

Title:

Director - Hedge Accounting, Global AP&P

Requisition

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Leads and oversees Hedge Accounting Policy Area in globally ensuring business strategies, plans and initiatives are executed / delivered in compliance with governing regulations, internal policies and procedures.

This role provides enterprise leadership on the interpretation and application of International Financial Reporting Standards (IFRS) for hedge accounting within a global banking environment. The Director shapes policy direction, support Treasury in developing effective risk management strategies, and plays a critical role in strengthening governance over hedging activities across the Bank.

The Director supports Treasury and Risk partners on evolving risk mitigation strategies, and a play a central role in the Bank’s transition activities related to IFRS 9 hedge accounting changes and the Risk Mitigation Accounting (RMA) model introduced by the International Accounting Standards Board (IASB).

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Lead the design, maintenance, and implementation of the Bank’s hedge accounting policies under IFRS as well as changes in legislation and regulations affecting financial reporting. This also involves advising executives of the proposed changes and the impact on the all-Bank and business line results, to change business practices, if necessary.
• Act as the Bank’s subject matter expert on hedge accounting providing technical guidance to Treasury on hedge structuring related to interest rate risk, foreign currency exposures, commodity strategies, and balance sheet risk management. This includes evaluating how the new IFRS 9 and Risk Mitigation Accounting (RMA) provisions impact hedge strategies (e.g., interest rate risk, foreign currency risk, and balance sheet hedging programs).
• Support the design of new hedging strategies and evaluate their accounting implications to ensure hedge accounting activities align with risk management frameworks. Partner with Market Risk, Liquidity Risk, and Treasury Control functions to ensure hedge accounting activities align with risk management frameworks and evaluate how the RMA model interacts with internal practices.
• Support regulatory and audit inquiries, prepare technical memos, and assess financial statement impacts of hedge strategies and contribute to disclosures related to financial instruments and risk management.
• Develop and deliver training to Finance, Treasury, and business partners on new IFRS 9 hedge accounting guidance and the RMA model and lead change-management activities as the Bank adopts the new hedge accounting standard.
• Oversee the Bank’s adoption strategy for new IFRS 9 hedge accounting amendments including the RMA model, ensuring readiness across Finance, Treasury, and Risk and leading cross-functional working groups on the IFRS 9 hedge accounting implementation programs. This includes technical assessments related to the transition to the updated hedge accounting framework, including changes to effectiveness testing, designation requirements, and disclosures
• Partner with Treasury and hedging operations to identify and evaluate tools, systems, and technology solutions that enhance the Bank’s hedge accounting and risk management capabilities. This includes assessing current processes, determining opportunities for automation or improved data integrity and playing a leadership role in implementation and ensuring the new technology deployments are IFRS compliant.
• Lead the formulation of the Bank's official response to hedge accounting changes proposed by IASB and other Regulators. These responses must represent and promote Bank's interests and may involve working with peer Canadian Banks directly or through CBA subcommittees as well as industry working groups.
• Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
• Create…