Project Accountant - IFRS 9 (Edinburgh)

£300 - 350 a day - 6-12 months

A fantastic opportunity for a technically strong accountant to carry out a standalone project role to analyse and document accounting interpretations and implement changes to reporting processes and disclosures. IFRS 9 is a new mandatory International Financial Reporting Standard that governs how to account for financial instruments.  It will have a huge impact on banks as introduces a new approach to providing for impairment (i.e. bad debts) on lending balances (in response to the financial crisis).

Principle Accountabilities:

• Analyse requirements of IFRS 9 and document accounting interpretations as they apply
• Classify the Bank’s existing financial assets into the IFRS 9 measurement categories and define internal policies and procedures for on-going classification and for new products
• Define and document the Bank’s accounting policies in respect of impairment provisioning under IFRS 9
• Provide oversight and challenge to modelling assumptions and decisions taken by Credit Risk as they progress through the model build
• Define detailed disclosure requirements (internal and external) to be incorporated into the model build
• Assess impact of implementing IFRS9 on capital and tax planning, and product pricing
• Assess interaction and impact of IFRS 9 impairment models on regulatory capital under Basel III
• Contribute to the design of the Bank’s IFRS9 target operation model (processes, governance, controls etc)
• Timely and accurate completion of all project deliverables, assessing and managing risks, identifying counter measures and escalating to management as appropriate
• Ensure that all documentation produced is robust and fit for internal/external review

Requirements:

• Provide technical support and training to Finance and other Bank stakeholder on IFRS 9

• Qualified accountant with technically strong sound knowledge of accounting, ideally IFRS 9 or IFRS 39 and if not either, an ability to interpret technical information.
• Extensive financial reporting experience in banking or financial services (gained in industry or practice).
• Broad knowledge of IFRS in general.
• Exposure to regulatory reporting and treasury operations in the banking sector would be particularly valuable

Please call Lucy Edgar on 0131 603 8111 or email me on [email protected]