VP Core Ops

Job Description

Derivative Post Trade Services is a cross-asset class function responsible for ensuring that all Interest Rate, Credit, Equity, Commodity and Foreign Exchange Derivatives are controlled and settled in an efficient and cost effective manner. The department supports a broad range of operational services across the OTC trade lifecycle including lifecycle management, affirmation, confirmation, nostro and brokerage reconciliation as well as strategic product support.The department is proactive in implementing state of the art systems and procedures to support our OTC Derivative business in Europe, North America and Asia Pacific. We are considered industry leaders and continually look for ways to implement efficiencies, reduce risk to the firm and enhance the experience of our clients.Affirmation of Derivative trades with internal and external counterpartiesProduction of ISDA paper trade confirmations for all vanilla and some complex Derivative trades.Incoming validation and matching of paper and electronic trade confirmations, including DSMatch.Develop and manage operational relationships with our clients through pro-active affirmation and confirmation of Derivative trades.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.What will you be doing Oversight of recruitment, training and ongoing development of staff. Team size is expected to be 82 FTE by the end of Q4 2017.Development and implementation of department wide policies and procedures, and responsibility for directing day-to-day operationsManagement oversight of all KRI s and KPI sEnsure 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 PTS 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 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.Responsible for recruitment of staff and ensuring that all new joiners undergo standard training on derivatives products and processesSetting staff objectives for ongoing staff development and conducting appraisalsResponsible 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 reportingManagement oversight of all KRI s and KPI s and addressing all high-risk metrics promptlyExtensive knowledge of derivative products and the front-to-back processes within Post Trade Services, and ensuring that the knowledge is shared across the teamEnsuring all applicable governance, compliance, risk policies and procedures are adhered toOversight of UAT to ensure that quality testing is completed and all issues for the team are resolvedFirst level management escalation point for all high priority issuesKey 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 serviceSpearhead the process improvement initiative and carry out complex analysis to identify innovative solutions to deliver financial benefits for the firmConfident 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 riskFoster good working relationships with internal counterparts (i.e. Desk, Sales team, Trade Support, Confirmations , Legal, Finance) and external clientsTeams Main DutiesTrade affirmationProduction 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 MISCross train on all functions performed within the team and across the department.What we re looking for:Degree educated with relevant years experience preferably in an OTC Derivatives environment.Relevant years of management experience with proven track record at managing diverse teams. Degree EducatedExtensive technical knowledge of the derivative products within remitA high level of focus on strategic visionStrong understanding of the end-to-end processes in the Confirmations and/or Settlements areaExperience gained in High Volume House and client service environment.Strong knowledge of Microsoft ExcelStrong communication and negotiation skills in order to manage the relationship with Premier clients, fluent in English.Highly numerate with analytical problem solving ability.Results Driven.Commitment and loyalty to the brand.Skills that will help you in the role:Self Starter / Ambitious.Willingness to take on responsibility & lead from front.Attention to detail,

Keyskills :
icrosoft exceltrade supportcost effectivetrade servicesproblem solvingexternal auditbusiness case