Director, Controls Business Partner, Finance Control & Product Control

About Finance Chief Controls Office

The Finance Chief Controls Office (CCO) is a function within Finance that operates across BUK, BBplc and BX to drive consistent, excellent performance against the Control agenda.  The team is an integral part of Barclays’ increasing emphasis on sustaining and strengthening an effective control framework, to meet our business needs, meet regulatory requirements and also to deliver upon our core values and commitments to all of our stakeholders.

The purpose of the Finance Chief Controls Office is to improve the Control Environment. We do this by defining and executing strong controls processes and offering effective control management tools and reporting.  Control Business Partners directly partner with key stakeholders in the business as well as other BX services to provide an expert advisory service on a range of control related matters that support the assessment and management of risk across the businesses. Control Assurance is a part of the Finance CCO business area and includes activities like – Sarbanes Oxley (SOx) Assessment and testing, Controls Testing & Conformance Reviews focussed on Finance.

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Overall purpose of role

This role within the Finance first line of defence is responsible for:

• Enabling the risk and controls accountability of Managing Directors for Product Control and Financial Control  through driving a strong partnership between CCO and the FTCs,  and strengthening the agenda of pro-active risk management within Finance. 
• Deepen the controls CBP and SOX/Assurance activities performed in key areas such as Investment Banking Product Control, Group Financial Control and Reporting; through understanding and management of risks in the Upstream processes impacting Finance and sharpening front-to-back/end-to-end views of the risks and assurance/audit outcomes across the board. Establish strategic plans and/or operational programmes that require a sound understanding of the underlying theories underpinning the finance disciplines.
• Partner with the key Catalyst Transformation programs to define/ design the risk and controls landscape in the future state
• Drive the governance, advisory and monitoring of End User Developed Applications (EUDAs), Records Management, Dispensation Waiver Breaches (DWB)
• Drive the risk and controls agenda in the governance forums and Controls Committees 
• Enhance the Control Review Meetings (CRM), Control Committee packs and provide data driven risk insights including Risk Events and Issues monitoring end-to-end including SOX, lead annual refresh of Policies and Standards (such as CRM, EUDA, DWB and A&OR), producing CERPA and other key Control Committee packs (including Risk Events and Issues monitoring end-to-end including SOX)
• Lead the Issues Management and Risk Events reporting for Finance globally 
• Provide leadership in Data Analytics and Automation projects. 
• Seamlessly integrate the India Finance CCO Operating model into the Global Finance CCO Operating model to ensure support to the Senior Finance Stakeholders
• Ensuring that Barclays has adequate frameworks in place to comply with the regulatory requirements and provide support in managing the frameworks which support Senior Managers in delivering their accountabilities under the Individual Accountability Regime; 
• Support of regulatory change projects, acting as a central point of contact between the business and strategic change programmes;
• Support engagement with 1st (CCO Global Assurance) 2nd (Compliance and Risk Services) and 3rd (BIA) Line of Defense on plans, progress and results for audit/assurance activity impacting Finance
• Assist with other duties aligned to Finance CCO execution priorities, including but not limited to the Risk and Control Self-Assessment (RCSA) processes, Risk Events and Issues Management, Control Environment & Risk Profile Assessments (CERPA) and ongoing review of activities against the Barclays Control Framework (BCF).
• Provide thought leadership to the Finance CCO function across the book of work
• Role holder’s work will be used by high profile stakeholders across the three lines of defence

Key Accountabilities

• Broad experience in risks and controls in areas of Treasury, Investment Banking Product Control, Financial Control. Broad and comprehensive understanding in multiple disciplines relevant to the above business areas. Understanding of underlying business principles and the impact of regulatory requirements will be key to drive the risk and controls agenda.   

• Demonstrate Comprehensive understanding of several sub-functions within the areas listed above (including industry and commercial awareness) and how their processes and resources interact with the other sub-functions to achieve the functional objectives defined. The role holder will have an influence on the business risk and control outcomes by being a business partner, Role covers a wide range of risk management and controls assurance activities across Finance horizontals and verticals that require complex judgements and solutions based on sophisticated analytical thought comparing and selecting complex alternatives.

• Work with stakeholders across the three lines of defence to ensure that the frameworks that regulate and support Senior Managers and Certified individuals in discharging their Reasonable Steps are fit for purpose and well understood by the Finance stakeholders
• Understand and be able to assess the impact that strategic/regulatory change and continuous improvement initiatives have upon the control environment – working with stakeholders in the business to ensure risks are fully understood and appropriate mitigating controls in place.  

• Work with stakeholders across the three lines of defence to ensure that the frameworks that regulate and support the use of Appointed Representatives comply with the regulatory requirements and are effectively implemented.
• The role holder is expected to have expert working knowledge on Finance Internal Audit/Internal Controls including the following:
  • Expert knowledge in processes and risks associated with Finance Product Control in Investment Bank, and book-close Financial Control
  • Good understanding of IT General Controls and IT Application controls
• Provide oversight of the implementation of strategic and regulatory change programmes, ensuring that appropriate processes have been followed by the projects on behalf of the business in order that regulatory requirements will be met through effective control frameworks. 
• Support standard owners with policy formulation, refresh and planning.
• Regular and ongoing interaction with 1st, 2nd and 3rd Line colleagues on audit/assurance matters, ensuring these are communicated effectively across impacted areas and acting as a key point of contact and valuable review step within the audit process for timely escalation of significant issues affecting the control environment.
• Provide robust, effective and insightful reporting, analysis and communication to provide assurance to senior management that the business is compliant with the defined governance framework, with effective escalation of issues as appropriate.
• Experience in implementation of enterprise risk management framework will be an added advantage
• Experience in the application of Data Analytics / automation will be an added advantage
• Manage relationships with the senior stakeholders including specific department heads and BU CFOs
• Lead improvements initiatives to ensure that there is continuous challenge to improve the control environment. Work closely with other teams across the Group to ensure continuous improvements of the process across the entire Group
• Take responsibility for own personal and career development, working in a way that is aligned fully to Barclays Values.
• Leadership of planned and ad-hoc business planning activity relating to the role responsibilities.
• Provide team leadership - Manage and motivate direct reports and the broader team, identifying individual and team development needs, providing coaching and recommend training as necessary.

Stakeholder Management and Leadership

• Stakeholder management - Role holder’s work will be used by key internal stakeholders and reporting outputs will be the visible outputs to senior stakeholders including ExCo and the respective Board.

• Business partnering on risks and controls agenda with Senior Finance stakeholders based in India, UK and US
• Wider CCO CBP teams in Global Finance, and non-finance CCO CBP/Assurance teams
• Coordination with 1st Line CCO, 2nd Line Risk Services, 3rd Line Barclays Internal Audit and External auditors

• The ability to communicate clearly and concisely is essential – written outputs, including draft/final reports/ slidepacks are expected to require minimal rework post internal Management review and stakeholder challenge;
• The ability to negotiate and influence effectively is also essential to manage competing/conflicting views – the successful candidate is expected to address these without the need to escalate.
• Ability to have a commercial mindset and challenge the status-quo by thinking about the longer term impact and wider implications and proposes alternatives

Decision-making and Problem Solving

• The role requires navigating complex, often matrix-based environment and the role holder will need to make decisions / propose solutions for topics where the bank may lack previous experience
• Ability to solve complex problems and the ability to filter, prioritise, analyse and validate potentially complex and dynamic material to support and influence businesses on proactive risk management.
• In-depth analysis with interpretative thinking will be required to define problems and develop innovative solutions.
• The role requires making strategic and tactical decisions according to business requirements and evolving situations
• The role holder will be required to demonstrate sound decision making and problem solving to ensure delivery in line with stakeholder expectations
• The ability to remain objective is essential – when raising issues and assessing and agreeing actions to resolve.

Risk and Control Objective

Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.

Person Specification

A proven team leader and people manager with the ability to deliver through others

• Strong analytical capabilities, with a methodical approach, sound judgment and a close attention to detail. The role holder will have a high degree of decision-making authority, and needs to demonstrate ability to influence upwards, including partnering with the business on setting the risk and controls agenda.  Extensive project management experience and strong organizational skills
• Proven stakeholder management skills – setting and proactively managing expectations in challenging environments.
• A high degree of innovation is required as a thought-leader to ensure that processes under review are operating in an industry-leading way.
• Operate effectively in a cross channel environment to drive synergies in the control mechanisms to identify and take forward opportunities to continuously improve these.
• Excellent written and verbal communication skills and the ability to negotiate with a high level of discretion (internally & externally) with others often at a senior level. The negotiations undertaken by the job will have an impact on the risk and control management of the business unit and are likely to involve both internal and external parties such as external auditors. 
• Have a strong understanding of Finance processes in Banking and FS industry specifically on Product Control and Financial Control
• An excellent understanding of modern governance, risk and control assessment techniques

Essential Skills/Basic Qualifications:

• Preferred to be a Chartered Accountant, MBA in Finance from a premier institution or equivalent
• Extensive Experience (over 15 years) in one or more of the following: Internal/External Audit, Operational Risk Management; or Risk and Control related discipline
• Experience of working in senior roles in Bank or Financial Services / Big 4 in a senior capacity
• Managing multiple stakeholders including management of stakeholders in a matrix business environment
• Knowledge and understanding of risks and controls within Financial Services, particularly Investment Banking, Financial Controls, Treasury processes and controls. Wider experience across both wholesale and retail banking would be an advantage, but more important is the ability to demonstrate transferability of skills from current experience. 
• Technical Accounting / IFRS knowledge
• Proven capability to operate across a wide remit and in a matrixed business environment
• Excellent Report writing skills
• Strong Leadership/People Management skills
• Strong Communication and Influencing skills
• Strong analytical, decision making and investigatory skills
• Problem solving and high level of attention to detail

Desirable skills/Preferred Qualifications:

• Specialist Risk and /or control related qualification – formal accreditation / qualification relating to audit, risk and/or control etc (e.g. IRM)
• Though not mandatory, preference would be given to candidates with IFRS certification, Certified internal Auditor or equivalent
• Experience with AI automation, Data Analytics tools and technologies (such as Alteryx, Tableau etc) would be an added advantage
• Knowledge of the Financial Services Regulatory environment;
• Prior experience in team leadership and people management
• Team management skills, ability to motivate the team and enable them to deliver a high quality product, and provide effective performance management and coaching
• Shaping and influencing management thought leadership
• Ability to interact with all levels across the Bank. Effectively communicates and influences different audiences using suitable channels for achieving clear outcomes, consensus and conflict resolution Offer assistance without waiting to be asked, takes steps to keep stakeholders informed and delivers high quality support
• Extensive working knowledge of operational risk & control processes and practices, including experience in their application across functions
• Work with minimal supervision, independently and objectively drive accountabilities

Purpose of the role

To partner with the bank, to provide independent insurance on control processes and advise on improvements to ensure the efficiency and effectiveness of the bank’s internal controls framework.  

Accountabilities

• Collaboration across the bank to maintain a satisfactory, robust, and efficient control environment through the execution of ad-hoc assessments and testing on the design and operational effectiveness of the internal controls, aligned to control policies and standards.
• Development of detailed test plans and procedures to identify weaknesses in internal controls and other initiatives aligned to the bank’s control framework to mitigate any potential risks and issues, prioritised by its severity to disrupt bank operations, potential losses, and reputational impact.
• Communication of key findings and observations to the relevant stakeholders and business units to improve overall control efficiency and provide corrective actions to senior managers. Collaboration with other control professionals to resolve complex issues and ensure consistent testing methodologies across the bank.
• Development of a knowledge centre containing detailed documentation of control assessments, testing on design and operational effectiveness of procedures, findings, and the distribution of material on internal controls to train and upskill colleagues within the bank.

Director Expectations

• To manage a business function, providing significant input to function wide strategic initiatives. Contribute to and influence policy and procedures for the function and plan, manage and consult on multiple complex and critical strategic projects, which may be business wide..
• They manage the direction of a large team or sub-function, leading other people managers and embedding a performance culture aligned to the values of the business. Or for an individual contributor, they lead organisation wide projects and act as deep technical expert and thought leader, identifying new ways of working and collaborating cross functionally. They will train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions..
• Provide expert advice to senior functional management and committees to influence decisions made outside of own function, offering significant input to function wide strategic initiatives.
• Manage, coordinate and enable resourcing, budgeting and policy creation for a significant sub-function.
• Escalates breaches of policies / procedure appropriately.
• Foster and guide compliance, ensure regulations are observed that relevant processes in place to facilitate adherence.
• Focus on the external environment, regulators, or advocacy groups to both monitor and influence on behalf of Barclays, when appropriate.
• Demonstrate extensive knowledge of how the function integrates with the business division / Group to achieve the overall business objectives.
• Maintain broad and comprehensive knowledge of industry theories and practices within own discipline alongside up-to-date relevant sector / functional knowledge, and insight into external market developments / initiatives.
• Use interpretative thinking and advanced analytical skills to solve problems and design solutions in often complex/ sensitive situations.
• Exercise management authority to make significant decisions and certain strategic decisions or recommendations within own area.
• Negotiate with and influence stakeholders at a senior level both internally and externally.
• Act as principal contact point for key clients and counterparts in other functions/ businesses divisions.
• Mandated as a spokesperson for the function and business division.

All Senior 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.

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.