Barclays - AVP - Derivative Confirmations

Derivative Confirmations - AVP

Barclays is an international financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays- purpose is to help people achieve their ambitions in the right way.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

At Barclays, we recruit based on merit and are committed to promoting diversity throughout our organization.

About Team :

Global Derivative Operations is responsible for ensuring all asset classes of OTC Derivatives, namely Interest Rate, Credit, Equity, Government Bond and Foreign Exchange are controlled and settled in an efficient and cost effective manner. Departmental functions include payment and funding procedures, rate resetting, nostro and brokerage reconciliation and strategic product support.

The department is proactive in implementing state of the art systems and procedures to support our OTC Derivative asset classes in Europe, North America and Asia Pacific, participating in leading edge industry initiatives. Our goal is to lead our peer group in implementing straight through processing for the OTC Derivative business while maintaining a low cost center of excellence to support our global client base.

Main Function :

- Responsible for ensuring that the team effectively manages operational relationships with our clients through pro-active affirmation and confirmation of Interest Rate and FX Derivative Trades.

Main Duties and Responsibilities :

Manager's Main Duties :

- Responsible for recruitment of staff and ensuring that all new joiners undergo standard training on derivatives products and processes

- Setting staff objectives for ongoing staff development and conducting appraisals

Responsible for directing the day-to-day operations for the team, including :

- Allocation and oversight of daily tasks.

- Production of team MIS with detailed commentary for management reporting

- Management oversight of all KRI's and KPI's and addressing all high-risk metrics promptly

- Extensive knowledge of derivative products and the front-to-back processes within Post Trade Services, and ensuring that the knowledge is shared across the team

- Ensuring all applicable governance, compliance, risk policies and procedures are adhered to

- Oversight of UAT to ensure that quality testing is completed and all issues for the team are resolved

- First level management escalation point for all high priority issues

- Key representative from the department to engage in strategic initiatives discussions with colleagues globally and communicate the expected requirements and impact for the team.

- Continual assessment of existing processes to identify innovative ways of improving team efficiency and client service

- Spearhead the process improvement initiative and carry out complex analysis to identify innovative solutions to deliver financial benefits for the firm

- Confident communication and presentation skills required to present the business case to senior management. Justify the initiative with cost savings to ensure management buy-in and ultimately the implementation of change.

- Work closely with the Risk & Control function to address any control gaps identified and implement controls to mitigate the risk

- Foster good working relationships with internal counterparts (i.e. Desk, Sales team, Trade Support, Confirmations, Legal, Finance) and external clients

Teams Main Duties :

- Trade affirmation

- Production of ISDA paper trade confirmations for all vanilla and some complex Interest Rate and FX Derivative trades.

- Incoming validation and matching of paper and electronic trade confirmations, including Swift and DSMatch.

- Ensuring the firm is fully compliant with regulatory confirmation timeliness targets.

- Responsible for the effective management and resolution of all affirmation and confirmation discrepancies.

- Investigate and resolve all differences in a timely manner with clients.

- Liaise with the Desk, Sales team, Trade Support, Settlements and other departments to resolve client queries.

- Manage and effectively resolve all incoming queries from clients within a pre-agreed time-frame.

- Contribute to the specification and testing of improvements for all systems and processes.

- Uphold the controls and procedures for the team, review and update as necessary.

- Prepare Local and Global MIS

- Cross train on all functions performed within the team and across the department

Requirements :

- Good experience in a banking operations.

- 2-3 years of management experience with proven track record at managing diverse teams. Degree Educated

- Strong communication and negotiation skills, to liaise effectively with internal and external clients.

- Fluent in English.

- Strong Risk and Control focus

- Extensive knowledge of the Derivatives front to back process across multiple Asset Classes.

- Highly numerate with analytical problem solving ability.

- Results Driven.

- Commitment and loyalty to the brand.

- Self Starter / Ambitious

- Innovative with a proven track record of implementing change to drive process improvements

Barclays Values and Diversity :

Our common purpose is to help people achieve their ambitions - in the right way. We will measure and reward our people, not just on commercial results, but on how they live our Values of Respect, Integrity, Service, Excellence and Stewardship and bring them to life every day. To find out more about working at Barclays and the development opportunities we offer please visit our website www.barclays.com

We are an equal opportunity employer and we are opposed to discrimination on any grounds