The role will focus on ensuring that Interest Rate Risk (IRR) across Barclays is well managed with correct standards and procedures in place. This role will have a wide focus across ALM, including reviewing and executing hedging strategies, delivery of hedging proposals at senior forums/committee, data analytics and relevant MI, as well as improving the control environment under which ALM manages IRRBB
What will you be doing
Monthly Hedging
- Responsible for the execution and longer term development of key hedging processes e.g. recruitment risk product hedging, Month end product hedging, BUK Mortgages Front book hedging, monthly structural hedging
- Support rates communication/trades pricing to the business
- Review all hedge assumptions and perform monthly backtesting against actuals
- Assesses risk inherent in any new or changing Bank products and adjusts model inputs
- Monitors compliance to internal and regulatory balance sheet metrics for assigned legal entities/ region and escalates any issues to senior management.
- Actively develop and improve processes and models to drive efficiencies across the group including managing any required model validation
Income forecasting
- Manage the design, planning, production and delivery of all hedge NII forecasting including internal planning and any stress test scenarios for all entities. This includes owning and presenting the final results and engaging with all relevant (including senior Director/MD-level) stakeholders in the businesses, Finance, Treasury, Risk and IVU
- Key contact for all forecasting queries from finance, coverage, IR and other teams, including providing technical advice as required
Hedge Forum packs and MI production
- Prepare hedge forum packs and monthly MI production into senior management forums e.g. ALCO, Treasury Committees
- Working closely with the businesses to understand their analytical requirements and design and build management information (‘MI’) solutions to address their needs.
- Delivering dynamic information based on the evolving requirements of key committees (eg ALCo, TC) and working with Finance and product teams on their ALM needs to provide valuable insights to senior management
Analytics
Hedge strategy reviews
- Analytical review of structurally hedged positions and formulation of proposals around hedge increases/decreases and changes to duration
- Set the hedge strategy for the Group for fixed rate maturity dated products and agree these strategies with stakeholders across ALM/Risk and the business.
- This covers the end to end process including taking these proposals through governance and presenting at the respective governance committees.
- Partner with the business to ensure that all existing risks are well understood and managed, new risks go through a well-defined sign-off process, and that any key risk issues are raised and discussed at governance committees
- Develop sensitivity metrics to describe hedge and product performance under various scenarios.
- Support the banking book hedge agenda in a changing rate environment including critical evaluation of all structural hedge positions including assessment of duration, balance stickiness and relationship with product behavioural life
- Development of new Tools/process improvement for the management of IRRBB
- Provide insights and analysis on customer and market conditions and impact on IRRBB
- Working collaboratively across Barclays, with Group, BUK and Barclays International colleagues, to create a ‘Best in Class’ ALM function contributing meaningfully to key initiatives within ALM/Treasury
What we’re looking for
- Bachelor’s degree or equivalent;
- Experience in a Treasury, Risk or Finance function;
- Must have strong communication skills, both written and verbal, with the ability to work both independently and collaboratively;
- Excellent presentation skills;
- Excellent Microsoft Excel skills;
- Strong Balance sheet and Finance skills;
- Strong understanding of Control and Governance frameworks
Skills that will help you in the role
- Previous ALM/IRRBB experience required
- Good problem solving skills
- Strong numeric ability and analytical skills
- Excellent knowledge of Microsoft office applications
- Excellent analysis skills, including data analysis skills
Where will you be working
Be More at Barclays
At Barclays, each day is about being more – as a professional, and as a person. ‘Be More @ Barclays’ represents our core promise to all current and future employees. It’s the characteristic that we want to be associated with as an employer, and at the heart of every employee experience. We empower our colleagues to Be More Globally Connected, working on international projects that improve the way millions of customers handle their finances. Be More Inspired by working alongside the most talented people in the industry, and delivering imaginative new solutions that are redefining the future of finance. Be More Impactful by having the opportunity to work on cutting-edge projects, and Be More Valued for who you are.
Interested and want to know more about Barclays Visit home.barclays/who-we-are/ for more details.
Our Values
Purpose and Values
We deploy finance responsibly to support people and businesses, acting with empathy and integrity, championing innovation and sustainability, for the common good and the long term.
Our values underpin everything we do: Respect, Integrity, Service, Excellence and Stewardship.
Respect
We harness the power of diversity and inclusion in our business, trust those we work with, and value everyone’s contribution.
Integrity
We operate with honesty, transparency and fairness in all we do.
Service
We act with empathy and humility, putting the people and businesses we serve at the centre of what we do.
Excellence
We champion innovation, and use our energy, expertise and resources to make a positive difference..
Stewardship
We prize sustainability, and are passionate about leaving things better than we found them.
Our Diversity
We aim to foster a culture where individuals of all backgrounds feel confident in bringing their whole selves to work, feel included and their talents are nurtured, empowering them to contribute fully to our vision and goals.
Our Benefits
Our customers are unique. The same goes for our colleagues. That’s why at Barclays we offer a range of benefits, allowing every colleague to choose the best options for their personal circumstances. These include a competitive salary and pension, health care and all the tools, technology and support to help you become the very best you can be. We are proud of our dynamic working options for colleagues. If you have a need for flexibility, then please discuss this with us.
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