Summit Hedge Accounting Business Analyst – Remote
One of our clients is a multi-award winning bank, headquartered in Lisbon, Portugal and with €87 billion in assets under management. Founded in 1985, the bank has been constantly expanding its operations and is now the largest private bank in Portugal providing a variety financial services to the retail, corporate banking, investment banking, insurance, and fund management sectors.

The Programme

Since the client first made Phi the official partner for their Summit V6.0 implementation, they have continued to welcome our involvement in their various Summit projects. In Dec 2021, we successfully delivered the end-to-end Summit upgrade project to V6.2. Phi currently has 2 teams comprised of 8 Summit experts working on different Summit change projects for 2022. The client is now looking to take on an additional change project which will be the implementation of Hedge Accounting. For this implementation, the client will be looking to cover both Fair-Value and Cashflow Hedges for Money Markets and Bonds against  Swaps. Whereby the main aim is to manage Interest Rate and FX risk. This will allow for remote collaboration with key bank stakeholders as well as the existing Phi teams.

Roles and Responsibilities

  • We are looking for an expert Summit Hedge Accounting Business Analyst to initiate this Hedge Accounting Implementation
  • This initial phase of this project is a three month scoping exercise where you will be delivering the simplest configurations into production as a foundation for further rollout
  • Whereby you will be configuring one instance of each hedge relationships across the asset classes coverage, implement daily postings, as well as preparing documentation
  • Specifically, you will be responsible for the gathering & clarification of these requirements from the business, documentation of design, and co-ordination with developers for technical tasks
  • You will take responsibility for this initial implementation phase, including all relevant testing
  • With your expertise, you will be assisting with the identification, reporting and resolution of issues, and will support the business users throughout UAT (including any user training if required)

Key Skills

  • The ideal candidate will have recent Summit V6.2 experience, with a solid understanding of Hedge Accounting and the module’s capabilities within Summit, how to configure & test these
  • You will be the functional subject matter expert for Hedge Accounting and you will be expected to have expert knowledge of the relevant settlements & accounting fields (incl. IFRS9) together with solid product knowledge of Bonds, Repos, Swaps, FRA & FX
  • You should have technical skills in STP, SQL and XML
  • You should be a confident communicator with strong interpersonal skills and the ability to produce clear documentation

This role grants you the opportunity to work on the implementation of an unique Summit module which only a handful of clients across EMEA have utilised. Additionally, you will be working alongside some of the most talented and internationally recognised technologists, whilst liaising with a team of highly skilled professionals in a multi-award winning bank.

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*We regret that because we receive a high volume of quality applications, only those shortlisted will be contacted directly.