Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking, and wealth and investment management. With over 300 years of history and expertise in banking, Barclays moves, lends, invests and protects money for customers and clients worldwide.
As a leading global wealth and investment manager, Barclays provides international and private banking, wealth planning, trust and fiduciary services, investment management, brokerage services and research to private and intermediary clients across the world. Additionally our clients benefit from access to the breadth of personal, corporate and investment banking expertise across Barclays, one of the largest financial services groups in the world.
Our mission is to set a new standard in wealth management by understanding our clients better than anyone else. In pursuit of this objective, we hire and develop only the best people in the industry. We look for talented, tenacious individuals who seek opportunities for self-improvement and career progression. Our long-term agenda can only be achieved through close collaboration and a shared sense of empathy, integrity and trust.
Purpose of Role
The role holder will form part of the team responsible for the Infrastructure Control services spanning multi-manager, stand alone and third party funds. Their responsibilities will include monitoring, analysis and reporting of the end-to-end operating models for funds domiciled across UK, Dublin, Luxembourg, Mauritius and Jersey. The team will provide oversight of the control framework and provide consolidated Management Information (MI) and Key Performance Indicator (KPI) reports.
The role holder will support and drive the development of the strategy for Barclays, by identifying sourcing opportunities and will be responsible for the procurement of third party sourcing, including determining supplier selection, negotiation of commercial terms and deciding how the supplier is managed.
The role holder will also be responsible for managing allocated key external supplier relationships, including delivery of world class customer service; cost control; risk mitigation; identification and delivery of a programme of continuous improvements; and resolution of performance issues.
The role holder's key accountabilities will be to ensure that Supplier Managers within Barclays meet applicable law and regulations and are compliant with Barclays Group policies and standards as they apply to the management of external suppliers.
The role holder will be responsible for supporting the Service Management Leadership Team. They will aid the co-ordination and support necessary to ensure the Leadership Team are fully prepared and in possession of all information required to aid their management of key internal and external relationships.
Business and People Leadership
The role holder will ensure that the team achieves the goals and objectives defined by the Head of UK Service Management and will develop and motivate any direct reports. They will instil a culture of continuous improvement, with an emphasis on the importance of compliance to the success of the Infrastructure Control function.
The role holder will be responsible for monitoring the key processes of the end-to-end operating model, as defined in the Third Party Services Framework. The key control processes will include fund and fund company bank accounts, cash and stock reconciliations, commission payments and receipts, third party supplier invoices, fund expenses and external and customer reporting. The role holder will monitor a range of administrative duties within the Third Party Services Team, including the analysis and escalation of debtors and creditors, breaches, complaints and client money control processes.
The role holder will lead the day to day business as usual activity with multiple third party supplier relationships and manage the financial aspects of each individual supplier relationship. They will manage key stakeholders and will communicate performance to senior and middle management. The role holder will own the business as usual aspects of supplier contractual agreements and Service Level Agreements; will be responsible for supplier performance, quality of service delivered and the resolution of operational and service incidents; and will instigate and drive action plans to remedy poor performance and manage through to successful conclusion. The role holder will also pro-actively work with third party suppliers to define, implement and manage demanding performance, cost, risk, income and flexibility targets supported by innovative and industry leading ways of working.
The role holder will deliver all aspects of the Bank's Supplier Management policies and standards to a level where they can demonstrate full conformance. They will chair regular performance review meetings with supplier(s) and internal stakeholders; will manage and maintain the supplier risk profile, ensuring all risks are identified, mitigated or accepted by the Accountable Executive; and will complete annual due diligence of the suppliers, including a review of the exit plan, SLA and contract and recommend whether the relationship is continued.
The role holder will ensure satisfactory disaster recovery plans are in place, that regular testing takes place and that actions are implemented to strengthen, where appropriate, on a timely basis. They will provide support to senior Leadership Team, including the collation, preparation and validation of all management information received.
Strategy and Planning
The role holder will manage and maintain ongoing service plans, to ensure that all regulatory and Barclays requirements are met and that strategic activities and continuous improvement initiatives in relation to third party services/suppliers are identified prioritised and driven to timely conclusion. They will own, develop implements and track development plans with individual suppliers. The role holder will keep abreast of industry changes, trends and technological advancements which may support Barclays' objectives.
Improvement and change
The role holder will drive the continuous improvement program toward world class customer service. They will identify, lead and implement service improvements; will benchmark supplier cost and performance to support service improvements and tariff reduction; and will manage the process for material change including Change Control and prioritisation. The role holder will manage and challenge costs to ensure a quality service is delivered at the lowest possible cost without impacting the risk to the business. They will also support the Leadership Team, where required, in managing all change requests to and from all suppliers.
The role holder will be responsible for collating and consolidating internal and external Management Information and producing consolidated reports for internal use.
The role holder may have responsibility for a team consisting of up to five direct reports.
Key Clients (Internal and External)
The role holder's key clients will be internal stakeholders, Product and Proposition, Supplier Management, Finance, Legal, Compliance, Distribution Channels and Investment Services.
The right candidate will need a good understanding of both onshore and offshore fund operations and experience of funds with multiple domiciles and regulators. Excellent communication skills will be required, along with the ability to produce clear and concise written reports. The right candidate will be able to demonstrate proven experience in supply chain management, relationship management, negotiating and influencing skills and will be able to work at pace with sound judgement and conceptual thinking.
The candidate will be able to establish and maintain knowledge of financial products that are on offer to Barclays Wealth customers. They will have excellent knowledge of the financial investment market place and the financial investment regulatory environment, whilst ensuring that their technical ability is relevant and up-to-date, enabling successful performance in the position. The right candidate will preferably have proven commercial experience in outsourcing negotiations.
The right candidate will have good experience of operational management with a mutual/retail fund services provider, preferably within Treasury/Reconciliations, and previous experience in operations utilising outsourced partners would be advantageous.
Academic and Professional Qualifications
The right candidate will have experience within the financial services industry and, in particular, will understand the regulatory framework in which it operates. They will demonstrate the ability to work with minimum supervision and will hold a degree, or a financial services qualification, or Chartered Institute of Purchasing and Supply (CIPs) qualification or other qualification relevant to the role.
The right candidate will have an excellent command of the English language, with strong written and verbal communication skills.
The right candidate will be self motivated and determined, in order to ensure high performance by the Infrastructure Control team and internal business partners. They will possess an attention to detail and an ability to manage and resolve issues timely and effectively.
The right candidate will be professional under pressure. They will have strong interpersonal skills, commitment and focus on succeeding in a challenging environment. The right candidate will be able to work accurately to deadlines and will be committed to pro-actively seeking new and innovative customer focused solutions. The ability to contribute and challenge within a team to improve performance will be essential, along with the ability to communicate with peers and senior members of the team. The right candidate will contribute positively to the organisational and will have the ability to work on their own initiative.
Our unique and exceptional people are driven by a single common purpose - to transform the wealth management industry following five key principles:
Our clients are the reason we exist as a firm. We dedicate ourselves to understanding and empathising with our clients, and focus all of our activities to making a positive impact for them.
We seek to hire, develop and retain the very best talent from a diverse set of backgrounds. Each one of us strives to reach our potential through constant self-improvement.
As a fiduciary business, trust is fundamental to all our relationships. To gain that trust we deliver on our promises and demonstrate sound judgement, honesty and integrity.
We are committed to driving innovation across all our markets, so that we can set a new standard for wealth management globally.
The way we win is through close internal collaboration - drawing on our collective talents, knowledge and resources and through fierce competition externally. Barclays - 9 months ago