Barclays - VP - Derivative Confirmations

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 centre of excellence to support our global client base.

Main Function :

- The Derivatives PTS Confirmations VP role is responsible for managing all Derivative Confirmation functions across the various teams that are located in the BSS Mumbai site.

- The primary focus of the team will be to ensure the firm is fully compliant with the Confirmation Timeliness rules for EMIR and CFTC.

Main Duties and Responsibilities :

VP's Main Duties :

- Leadership role in the migration of Derivative Confirmation functions from donor locations to the BSS site in Mumbai/Chennai. Including:

- Oversight of recruitment, training and ongoing development of staff. Team size is expected to be 60 FTE by the end of Q4 2015 and additional functions from other Operational areas may also be incorporated into the proposed structure.

- Development and implementation of department wide policies and procedures, and responsibility for directing day-to-day operations

- Management oversight of all KRI's and KPI's

- Ensure all applicable governance, compliance, risk policies and procedures are adhered to and a mechanism exists to promote escalation by staff where appropriate.

- Continual review of existing processes to ensure exceptional performance, efficiency and risk management. Carry out complex analysis to identify innovative ways to improve straight-through processing, client experience, performance against regulatory targets and the firm's standing against its peers.

- Active member of the DFX management team. Full participation in discussions regarding the global footprint, and the strategic direction of the group as a whole. Leadership and involvement in firm wide people initiatives, with particular focus on the development and replication of these initiatives in Mumbai/Chennai.

- Active participation in external market developments and initiatives. Detailed understanding of changes within the regulatory environment and the expected impact on the functions under management. Firm representation at relative industry forums; ensure Barclays is viewed as the leader amongst its peers and driving change within the industry.

- Effective management of operational costs to ensure the function is performed within budget. Proactively identify opportunities to lower operating costs, whilst maintaining performance.

- Foster strong working relationships with both internal (i.e. FO, Audit, Compliance, Legal and Finance) and external counterparts (i.e. Regulators, External Audit and Vendors). Confident communication (written, verbal / presentations). Effective management of key client relationships and promotion of Barclays Operations as a differentiating factor from its peers.

Teams Main Duties :

- Trade affirmation

- Electronic trade confirmation

- Paper trade confirmation generation and execution

- 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 :

- 10-15 years experience in a banking operations

- 2-4 years in a Senior Operations Manager role

- Degree educated

- Proven track record at managing diverse teams

- Strong communication skills, fluent in English

- Strong Risk and Control focus

- A high level of focus on strategic vision

- Strong understanding of relevant and up-to-date technical knowledge, applications and techniques.

- Strong understanding of the changing regulatory environment and its impact on Operations.

- Excellent project management skills and a proven track record of implementing change

- Ability to liaise effectively with internal and external clients.

- Insight into external market developments and initiatives

- Highly numerate with analytical problem solving ability.

- Results driven.

- Commitment and loyalty to the brand.

- Self Starter / Ambitious

Barclays Values and Diversity

Our common purpose is to help people achieve their ambitions - in the right way. We- ll 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.