The Investment Bank is a leading provider of advice, financing and risk management solutions to companies, governments and institutions worldwide.
We enable the movement of capital between those who need it and those looking to generate a return on investment.
In doing so we fund and facilitate global economic growth, helping millions of people to achieve their ambitions.
Our business is split into three core areas: markets, banking and research.
We provide Barclays with a diversity of income and risk, and deliver market execution services for customers and clients within other parts of the Group
The Finance department covers Product Control, Financial Control, Financial Decision Support and Tax.
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.
Main Duties and Responsibilities
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 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.
Risk and control objective:
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Barclays Operational Risk Framework and internal Barclays Policies and Standards.
Responsible for the line product control of an asset class, managing the line PC team to fulfil responsibilities below:
• Review daily P&L, including understanding risk positions and market moves for P&L explanation, and review of flash vs formal differences.
• Engage in detailed discussion with traders and risk managers on risk positions and P&L.
• 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.
• Review key weekly & monthly MIS to senior management.
• Gain in-depth understanding of provisioning and price testing controls and processes, and review the month end working.
• Engage in detailed discussion with traders, risk managers and Independent Valuation Control team on the results. Liaise with valuation expert on modelling appropriateness and other technical/booking issues.
• Perform detailed review of month end adjustments, and Balance Sheet substantiation
• Ensure the maintenance of a strong internal control environment. Monitor control reports to ensure 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. Be the owner of key stroke documentations for key PC processes, risk assessment and SOX documentation.
• 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.
• Ensure adherence to daily schedule and service level agreements (SLAs).
• Ensure process compliance as per the regulatory guidelines and audit requirements.
• Oversee the preparation of basic financial analysis, impairment analysis, financial reports, financial planning and financial statements analysis.
• Review and analyse complex financial reports and financial statements analysis and present the same to the management.
• Establish innovative systems and procedures for handling data & reports and continuously improvise on them.
• Identify process improvement opportunities.
• Understand customer needs and provide innovative solutions.
• Manage and monitor quality for the business area.
• Respond to and resolve issues arising out of interactions with clients.
• Ensure open communication and address issues/ concerns raised.
• Establish and maintain effective working relationship with key stakeholders across businesses served.
• Team Management
• Measure performance of the team against SLAs and KPIs.
• Ensure effective allocation and utilisation of resources across the team in order to maximise effectiveness.
• Engage, motivate and coach the team towards achieving goals.
• Assist in identifying the developmental needs of the team & encourage taking suitable training programs to enhance capabilities and skills.
• Communicate strategic developments within the business area.
• Groom and mentor the team to handle wider span & higher responsibilities.
• Build effective communication channels to ensure open communication and address issues/ concerns raised by the team.
• Build effective vertical and horizontal communication channels.
• Controls and Compliance
• Ensure adherence to and compliance with governance, risk policies, procedures and compliance policies.
• Ensure escalation of issues to management on timely basis.
• Proactive involvement in new business initiatives.
• Build close working relationship with Front-Office, Middle-Office, Operations and Risk departments and promote PC profile. Be viewed as a trusted business advisor
• Responsible for performance and development of the staff.
• Responsible for resource allocation within the team and setting clear objectives for both business deliverables and personal development.
• Provide leadership and support/advice to the team. Focus on prioritisation and delivery.
• Drive team training.
• Provide leadership to the process managers with an oversight for issue resolution.
• Create an environment that promotes continuous improvement and high levels of employee engagement.
• Embed a culture of regular reviews and performance management aligned to GRB standards.
• Leverage and integrate the capabilities of resources across all levels of the organization to accomplish complex objectives.
• Develop and implement the business strategy for own business area.
• Monitor and drive plans to achieve successful completion of work as per the time, budget and quality standards.
• Work extensively with the onshore stakeholders to identify and exploit opportunities for effective migration of processes.
- 3 to 6 yrs
- As per Industry Standards
- Credit Control & Collections,Finance/Budgeting,Financial Analysis
- CA (Chartered Accountant) (CA (Final) )
- Any Graduate
- Barclays Bank PLC
- Banking, Financial Services & Insurance (Banking – Retail, Corporate, Co-operative)
- 10000 – 10000+ Crores
- 10001 – 10001+ Employees