The role sits within the Risk Regulatory Oversight and Coordination team. The aim of the team is to ensure that the firm complies with all applicable regulatory requirements so that it can maintain its IMM permissions within Counterparty Credit Risk (CCR). The purpose of the role is to lead the oversight and governance of these IMM requirements, working with Risk colleagues to develop strong relationships with regulators and provide effective challenge over regulatory deliverables.
Key Activities Include
Close and effective coordination with the CCR function, including the IMM Model Owner, and other key stakeholders on CCR regulatory related workstreams and initiatives.
Being a central point of expertise and advice on regulations; leading on interpretation of specific parts of the prudential rulebook for both UK and EU rules
Facilitating delivery of the regulatory book of work including model applications, responses and ad-hoc submissions.
Facilitating horizon scanning, interpretation and implementation of emerging regulatory requirements including Basel IV requirements.
In order to be successful you should have experience with:
Expert knowledge of counterparty credit risk models and risk management, including related prudential regulations, i.e. knowledge of PRA regulated institution with IMM model approval
Detailed experience in interpreting regulatory requirements, articulation of rule compliance and ability to review and challenge associated regulatory processes
Strong numerical skills and ability to clearly articulate technical subjects within counterparty credit risk
Delivery focused - highly organised and proactive individual with strong attention to detail and ability to manage multiple complex projects and deliver within tight timeframes
Some Other Highly Valuable Skills Include
Excellent written and verbal communication skills and ability to engage with internal and external stakeholders at multiple levels and work effectively both individually and as part of a team
Strong judgement and problem-solving skills
Strong control mindset, with a good understanding of the importance of a robust governance and control structure, and what that means for an investment bank Counterparty Credit Risk function
Good software skills including proficiency in the use of MS applications and SharePoint
You may be assessed on the key critical skills relevant for success in role, such as risk and controls, change and transformation, business acumen strategic thinking and digital and technology, as well as job-specific technical skills
Location: London
Purpose of the role
To provide oversight of prudential regulatory compliance across in relation to our advanced Model permissions and 2nd LoD review and challenge of regulatory rule that impact regulatory capital and liquidity returns.
Accountabilities
Advising on Regulations; owning the interpretation of specific parts of the Prudential Rulebook, and escalation for queries relating to prudential regulatory compliance.
Communication of key Regulatory themes to senior Risk management including (i) concerns raised by regulators, (ii) themes and areas of focus arising through meetings and communications; and (iii) guidance on regulator expectations.
Management of internal governance for adherence to regulatory permissions through oversight of Risk owned Permissions and maintenance of a central Permissions library.
Coordination, review and challenge of the Model and Rating System Applications/Notifications; Drives delivery of certain Risk-led regulatory deliverables, providing robust review and challenge of constituent parts provided by internal stakeholders.
Provision of comprehensive, accurate and consistent information to Regulatory supervision teams, supporting Risk in providing transparent communication with regulators via face to face meetings, regulatory letters or applications; and tracking and delivering commitments to regulators.
Vice President Expectations
To contribute or set strategy, drive requirements and make recommendations for change. Plan resources, budgets, and policies; manage and maintain policies/ processes; deliver continuous improvements and escalate breaches of policies/procedures..
If managing a team, they define jobs and responsibilities, planning for the department’s future needs and operations, counselling employees on performance and contributing to employee pay decisions/changes. They may also lead a number of specialists to influence the operations of a department, in alignment with strategic as well as tactical priorities, while balancing short and long term goals and ensuring that budgets and schedules meet corporate requirements..
If the position has leadership responsibilities, People Leaders are expected to demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard. The four LEAD behaviours are: L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others..
OR for an individual contributor, they will be a subject matter expert within own discipline and will guide technical direction. They will lead collaborative, multi-year assignments and guide team members through structured assignments, identify the need for the inclusion of other areas of specialisation to complete assignments. They will train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions..
Advise key stakeholders, including functional leadership teams and senior management on functional and cross functional areas of impact and alignment.
Manage and mitigate risks through assessment, in support of the control and governance agenda.
Demonstrate leadership and accountability for managing risk and strengthening controls in relation to the work your team does.
Demonstrate comprehensive understanding of the organisation functions to contribute to achieving the goals of the business.
Collaborate with other areas of work, for business aligned support areas to keep up to speed with business activity and the business strategies.
Create solutions based on sophisticated analytical thought comparing and selecting complex alternatives. In-depth analysis with interpretative thinking will be required to define problems and develop innovative solutions.
Adopt and include the outcomes of extensive research in problem solving processes.
Seek out, build and maintain trusting relationships and partnerships with internal and external stakeholders in order to accomplish key business objectives, using influencing and negotiating skills to achieve outcomes.
All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.