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About the Role
Clearwater Analytics is seeking a Senior Product Manager with deep expertise in derivatives accounting to lead the design and development of our end-to-end derivatives capabilities. This role is crucial for translating complex accounting requirements into scalable product functionality, impacting how clients manage their derivative portfolios.
Responsibilities
- Design and build end-to-end derivatives capabilities across the trade and accounting lifecycle.
- Translate derivative accounting requirements into product requirements, business rules, workflows, calculations, and acceptance criteria for engineering teams.
- Define accounting treatment and journal-entry logic for derivative instruments across various lifecycle events.
- Design accounting functionality for a range of derivative instruments including interest-rate swaps, cross-currency swaps, FX forwards and NDFs, futures, options, caps/floors, and swaptions.
- Partner with valuation teams to ensure appropriate integration between derivative valuations, market data, cash flows, and accounting outputs.
- Define accounting treatment for realized and unrealized gains/losses, accruals, settlements, premiums, financing components, and other derivative-related accounting events.
- Design and build hedge accounting functionality, including hedge designation, documentation, effectiveness testing, ongoing maintenance, designation, and termination.
- Define product requirements for fair value hedges, cash flow hedges, and net investment hedges.
- Develop functionality for hedge-accounting-specific events including OCI recognition and reclassification, hedge ineffectiveness, fair value hedge basis adjustments, and amortization.
- Define requirements for hedge effectiveness methodologies including regression, dollar-offset, hypothetical derivative, and critical-terms matching.
- Build downstream reporting, disclosures, audit support, and accounting controls associated with derivatives.
- Work directly with clients and internal subject-matter experts to understand complex derivatives use cases and translate them into scalable product capabilities.
- Partner closely with Engineering throughout the development lifecycle, including solution design, testing, validation, and release.
Requirements
- Approximately 8+ years of experience in derivatives accounting, financial instruments, treasury, capital markets, accounting advisory, or a related area.
- Strong understanding of derivative instruments and their accounting treatment.
- Experience with the accounting lifecycle of derivatives, including valuation changes, accruals, settlements, terminations, and journal entries.
- Strong understanding of instruments such as interest-rate swaps, cross-currency swaps, FX forwards/NDFs, futures, and options.
- Hedge accounting experience under ASC 815 and/or IFRS 9 is required.
- Experience with fair value hedges and cash flow hedges; net investment hedge experience is a plus.
- Experience with hedge documentation and effectiveness assessment methodologies.
- Strong understanding of the relationship between derivative valuation, economics, cash flows, and accounting outcomes.
- Ability to translate complex accounting guidance into clear business rules, system requirements, and test scenarios.
- Strong analytical skills and ability to work through complex transactional accounting scenarios.
- Ability to collaborate effectively with accountants, engineers, valuation specialists, quantitative teams, and clients.
Skills
- Derivatives accounting
- Financial instruments
- Treasury
- Capital markets
- Accounting advisory
- Hedge accounting
- ASC 815
- IFRS 9
- Fair value hedges
- Cash flow hedges
- Net investment hedges
- Derivative instruments
- Valuation
- Product management
Location
- Remote
Work Type
- Full-time
Experience Level
- Senior
- Manager
Salary/Compensations
- $179,400.00 - $243,136.45
Benefits
- Health/vision/dental insurance
- 401(k)
- PTO
- Parental leave
- Medical leave
- STD/LTD insurance benefits
About the Company
- Clearwater Analytics is a company focused on providing end-to-end derivatives capabilities.
Equal Opportunity
- Clearwater Analytics is An Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or veteran status, age or any other federally protected class.