Job Overview:
The Senior Hedge Accountant is responsible for supporting the Company's global foreign exchange risk management program, executing and administering hedging strategies, monitoring currency exposures, and ensuring compliance with treasury policies and accounting requirements. The role partners closely with business units, accounting, FP&A, tax, and regional finance teams to identify, quantify, manage, and report foreign exchange risks. The position plays a critical role in protecting the organization from adverse currency movements through the use of financial derivatives and natural hedging strategies while supporting cash flow forecasting, hedge accounting, and treasury technology initiatives.
Key Tasks and Responsibilities:
• Manage all hedge accounting activities for cash flow hedges, fair value hedges, and net investment hedges
• Prepare and maintain hedge designation documentation and effectiveness testing
• Ensure compliance with ASC 815 and company accounting policies
• Record monthly and quarterly hedge accounting journal entries
• Prepare hedge-related disclosures for financial statements and SEC filings
• Maintain supporting documentation for internal and external audits
• Review FX forwards, swaps, options, interest rate swaps, and commodity hedges
• Provide accounting guidance on proposed hedging strategies
• Analyze the accounting implications of new treasury products and risk management initiatives
Controls & Compliance
• Develop and maintain SOX-compliant controls over derivative accounting processes
• Coordinate with Internal Audit and external auditors
• Ensure timely completion of reconciliations and control activities
• Monitor changes in accounting standards and regulatory requirements
Analysis & Reporting
• Produce monthly hedge accounting reports and variance analyses
• Explain OCI, hedge ineffectiveness, and earnings impacts to management
• Support forecasting of hedge-related P&L and balance sheet impacts
• Assist with quarter-end and year-end close processes
System & Process Improvement
• Maintain hedge accounting systems and treasury management platforms
• Support implementation of Treasury Management Systems (TMS) and ERP enhancements
• Drive automation and process efficiency initiatives
• Develop standardized procedures and documentation
Essential Qualifications and Education:
Education
• Bachelor’s degree in accounting, Finance, or related field
• CPA preferred
• MBA, CFA, or CTP is a plus
Experience
• 5+ years of accounting, treasury accounting, or hedge accounting experience
• Strong knowledge of ASC 815 and/or IFRS 9
• Experience with derivative instruments such as:
o FX forwards and options
o Interest rate swaps
o Commodity hedges
o Cross-currency swaps
• Experience supporting external audits
• Experience with ERP and Treasury Management Systems (e.g., SAP, Oracle, Quantum, Kyriba)
Technical Skills
• Advanced Excel skills
• Strong financial reporting capabilities
• Knowledge of Treasury and risk management operations
• Ability to interpret complex accounting guidance
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About UsFor more than 100 years, we've been making the impossible possible. Today, we're driving the energy transition with more than 30,000 of the brightest minds across 54 countries.
Skills Required
- Bachelor's degree in Finance, Accounting, Economics, Business, or related field
- CTP or other treasury-related certification
- 5-8+ years of treasury, corporate finance, or risk management experience
- Strong experience with foreign exchange risk management and derivatives (forwards, swaps, options, NDFs)
- Experience supporting hedge accounting (ASC 815 or IFRS 9)
- Experience using Treasury Management Systems (e.g., FIS Quantum, Kyriba, GTreasury)
- Experience within a multinational corporation
- Ability to perform effectively under tight deadlines with multiple priorities
- Team oriented and able to thrive in a fast paced, changing environment
- Experience with treasury controls, trade capture, valuation, settlement, and SOX compliance
McDermott International Compensation & Benefits Highlights
The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about McDermott International and has not been reviewed or approved by McDermott International.
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Leave & Time Off Breadth — U.S. materials cite a minimum of 23 PTO days and 14 paid holidays, indicating a broad leave offering. Paid time off and holidays are positioned as a comparative strength within the package.
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Parental & Family Support — Company materials indicate paid parental leave, including 10 weeks paid maternity and four weeks paid family bonding. These provisions reinforce support for families during key life events.
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Strong & Reliable Incentives — Field and offshore roles often include overtime, per diems, and project allowances that can materially increase earnings. These extras are a notable component of total compensation in project-driven roles.
McDermott International Insights
What We Do
McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach to design and build infrastructure solutions to responsibly transport and transform oil and gas into the products the world needs today. From concept to commissioning, our expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. It is called the “One McDermott Way.” Operating in over 54 countries, McDermott’s locally-focused and globally-integrated resources include approximately 40,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.
