Barclays - Assistant Vice President - Product Control - Rates

Job Title: Assistant Vice President

Corporate Grade: AVP

Reports to (Line Manager's Job Title): Vice President

Direct Reports (if applicable): NA

Business Area: BC&I

Department/Function Level 1: Product Control

Department/Function Level 2: Rates Product Control

Primary Location: Chennai

IAR/Regulated role Yes/No: No

About Barclays

Barclays moves lend, invests and protects money for customers and clients worldwide. Please visit our website here for more information.

About Product Control :

- The primary function of Product Control is to work closely with all business stakeholders in achieving the objectives of the firm, in compliance with all relevant regulations and reporting requirements.

- The PC Product Line teams play a key role in ensuring an independent validation, substantiation, and reporting of financial information for a particular FO business unit.

The responsibility by Line PC Teams for completeness and accuracy of the books and records comprises of :

- P&L and B/S substantiation and reporting (including P&L explain / attribution, reconciliations, P&L commentaries, adherence to accounting principles, etc.).

- Monitoring trading activity for compliance with various related policies.

- Providing management with a technical and operational analysis of the business unit.

- Regular interaction with FO business, Financial Control, Technical Accounting Group, PC Change Management, Technology and other infrastructure areas

The overall purpose of role :

- Produce daily desk PL including commentaries, investigate Flash/Formal differences

- Ensure the maintenance of a strong internal control environment. Review key controls: FOBOs, adjustment substantiation and New, Amends & Cancels trades review

Key Accountabilities :

Responsible for the line product control of a subset of an asset class, managing a line PC sub-team to fulfill responsibilities below:

Daily Responsibilities :

- Review daily P&L, P&L attribution, P&L commentary, flash to formal differences and manual adjustments

- Develop a sound understanding of risk positions through detailed discussion with traders and risk managers on risk positions so that an appropriate P&L model is deployed with focus on key risk items and market moves

- Perform insightful financial analysis to draw sound conclusions to present to senior stakeholders in onshore PC locations and Financial Control

- Ensure that the team's KPI and SLA are met.

- Attend to ad-hoc queries from the traders and other infrastructure partners relating to trading revenue and balance sheet

- Foster a culture of performance improvement by serving as a lead for recommendations and be accountable for the delivery of qualitative and efficiency benefits from direct reports

Weekly / Monthly Responsibilities :

- Review key weekly & monthly MIS to senior management.

- Gain in-depth understanding of provisioning and price testing controls and processes, and perform a detailed review of the working files.

- Engage in detailed discussion with traders, risk managers and Independent Valuation Control team on the results. Liaise with valuation expert on modeling appropriateness and other technical/booking issues.

- Perform detailed review of month end adjustments, and Balance Sheet substantiation

Controls :

- Ensure the maintenance of a strong internal control environment. Monitor control reports to ensure the accuracy of data for P&L, validation, and downstream processes.

- Raise the team's level of control awareness. Lead by example and engender a strong control culture.

- Ensure clean audit results from internal and external reviews. Ensure the completeness and accuracy of keystroke documentations for key PC processes, risk assessment, and SOX documentation.

- Projects and Continuous Improvements Identify and drive process re-engineering and constantly challenge status quo for control improvement and process efficiency.

- Motivate and empower the team to deliver continuous improvements.

Stakeholder Management and Leadership :

- Responsible for performance and development of the sub-team.

- Responsible for resource allocation within the sub-team and setting clear objectives for both business deliverables and personal development.

- Provide leadership and support/advice to the team. Focus on prioritization and delivery.

- Drive team training.

- Decision-making and Problem Solving

- Relevant Details updated above

- Risk and Control Objective

All Barclays colleagues have to ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Barclays Policies and Policy Standards

Person Specification :

- Preferably a qualified accountant or similar qualification (CA/ CIMA/ CFA/ Financial Engineering)

- Strong control awareness

- Confident and assertive manner

- Ability to work independently with a spectrum of people from junior finance staff to front office business heads.

- Proactive and change focused with problem-solving ability.

- Mature and able to negotiate through difficult situations

- Ability to drive the team's agenda in large forums spread across various locations.

- Good influencing and negotiation skills and excellent communication and interpersonal skills.

- Displays enthusiasm, initiative, and diligence.

- Opportunity to be groomed to be future leaders, where there will be expended remit for future growth.

- Works well in a team with high standards for teamwork

The Benefits: Our customers deserve the best. The same goes for our employees. That's why at Barclays you'll receive a range of benefits that include a competitive salary and all the tools, technology and support you need to succeed.

Our Culture: Everything we do is shaped by the five values of Respect, Integrity, Service, Excellence, and Stewardship. The values inform the foundations of our relationships with customers and clients, but they also shape how we measure and reward the performance of our employees. Simply put, success is not just about what you achieve, but about how you achieve it.

Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.

Barclays is an equal opportunity employer and are opposed to discrimination on any grounds. For more detailed information, please visit our dedicated Diversity and Inclusion site here.

EEO statement

It is the policy of Barclays to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.-

Purpose and Values

Barclays has a single cross-business Purpose for Barclays and five core Values which underpin it.

Our Purpose is helping people achieve their ambitions in the right way. Put simply this is the answer to the question - What is Barclays for and it should guide our every action as employees.

Respect :

We respect and value those we work with and the contribution that they make.

Integrity :

We act fairly, ethically and openly in all we do.

Service :

We put our clients and customers at the center of what we do.

Excellence :

We use our energy, skills, and resources to deliver the best, sustainable results.

Stewardship :

We are passionate about leaving things better than we found them.