LIBOR Reform Specialist
LIBOR Reform Specialist
Location: Manchester - WFH Flexible
Length: 6 Months
Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.
About Wholesale Lending Operations
Barclays moves, lends, invests and protects money for customers and clients worldwide. With over 300 years of history and expertise in banking, we operate in over 50 countries and employ over 140,000 people.
Operations are an exciting and fast moving function. More than 10,000 employees work in Operations, across 17 countries and 30 cities, supporting millions of financial transactions, worth billions of pounds.
The environment we operate within is continually changing and Operations plays a key role in driving market initiatives and regulatory changes. By ensuring we are ahead of competitors on these initiatives, Operations can help drive down costs and increase revenue.
About the RFR Specialists Team
The RFR Specialists Team are partnering with WLO to deliver the LIBOR Reform change in the market.
Roles range from documentation specialists to system (ACBS, LIQ) execution specialists, and hybrid roles across both skillsets. The team are being closely aligned with the Ops Line teams to ensure seamless delivery.
Barclays is one of the leading players in the loans market globally. The bank lends bilaterally, acts as Agent or Syndicate Lender on a number of large loan arrangement where there is more than one investor and facilitates information sharing between the Borrower and Investors as well as maintaining the record of investor holdings. The RFR Team are partnering across all of these activities.
Overall purpose of role
Play a significant role in Barclays’ execution of the LIBOR Reform program. This includes contributing to working groups and executing on both the current and future books of work. Knowledge of the LIBOR Reform that is occurring in the market is critical for employees interested in this role at Barclays and will be central to successful candidacy.
Undertake and manage the end to end lifecycle events in the Facility Capture, Bank Debt Management and Client Servicing Teams
Ensure rapid resolution of documentation and/or processing issues
Operate as primary source of expertise and reference for complex and technical RFR queries and deal knowledge – for either or both of documentation or system execution
Analyse existing work practices – system and procedural – identifying and implementing areas for improvement
Produce management reports on the team and centre performance.
Stakeholder management and reporting of performance, KRI’s and KPI’s
Identify and remediate challenges and risks within the business
Ensure timely and accurate processing of all lifecycle events where Barclays acts as Agent including drawdowns, repayments, rollovers, wire transfers, treasury funding and investigations – this will vary according to documentation or system execution (servicing) nature of the role.
Where the firm has a lead role, documentation review or execution will need to occur ensuring operational requirements are met, and portfolio transactions executed - including preparation and tasks required for financial closing, engaging and instructing Loan Operations to ensure they are properly positioned to fund (as necessary).
Ability to review legal loan documentation and ensure it meets operational requirements for agented and lender-only transactions
Review key daily metric reports to ensure that fees, interest, and principal repayments are billed and collected from Borrowers in a timely manner, and forwarded to participant’s/syndicate members as appropriate.
Manage the overall transaction in line with Lender/Borrower demand including secondary trades, consents and waivers.
Manage all KPIs with agreed targets, ensuring quality commentary is maintained with clear owner, escalation and plan to remediate.
Timely escalation of both internal and external client queries.
Work closely with internal clients (e.g. closing team, Finance) in order to resolve issues and provide flawless client experience.
Understand and adhere to escalation policy as it relates to our risk and control environment.
Provide in depth specialist support for product/work stream
Ensure rapid resolution of complex queries/processing issues
Stakeholder Management and Leadership
Strong internal and external stakeholder management skills are required as it is a core function of the roles across WLO and specifically the RFR Specialists Teams.
Decision-making and Problem Solving
The role requires frequent decision making and complex problem solving as the portfolio of loans managed are high-value, often investment grade involving multiple stakeholders and optionality within the product. Scenarios are wide ranging and include.
Risk & Control
Senior day to day oversight and workflow management
Complex root Cause analysis
These challenges are compounded by the complexities surrounding LIBOR Reform – from both a logistical and calculation perspective.
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.
Self-sufficient, organised, proactive, ability to work in a high pressure environment and manage a diverse workload to tight deadlines
Proven experience in a fast paced and high risk operational/customer service area including complex problem resolution and proven ability in advanced communication with the ability to present complex ideas and theories to a wide audience. Ability to prioritise highest risks against time/cost issues.
Interpersonal skills – listening, verbal, written communication, as well as presentation skills, time and self-organisation skills, advanced problem solving and complex analytical ability. Strong PC skills and ability to work under pressure autonomously and meet challenging deadlines. Must be adaptable to variations in daily workloads due to peak volumes, new business or systems down time
Essential Skills/Basic Qualifications:
Ability to be flexible to support other colleagues along with the ability to complete or advise on completion of high volume routine/non-routine tasks and prioritise accordingly
Strong decision making skills. Strong planning, co-ordination and organisational skills.
Problem solving and reconciliations experience.
Adherence to a strong control framework whilst striving for further efficiencies.
Confident and assertive manner.
Complaints management experience.
Experience dealing with senior and external stakeholders.
Knowledge of quality assurance, control and monitoring.
Strong communication skills.
Excellent relationship management skills.
Desirable skills/Preferred Qualifications:
Complex problem resolution working under own initiative
Proven experience in an Operational and Audit environment
Good knowledge on Payments, Reconciliation, ACBS, LIQ and Facility Agreements.
Good influencing and negotiation skills and excellent communication and interpersonal skills than two lines.
Content to be in priority order.
We’re committed to providing a supportive and inclusive culture and environment for you to work in. This environment recognises and supports ways to balance your personal needs, alongside the professional needs of our business. Providing the opportunity for all our employees, globally to work flexibly empowers each of us to work in a way that suits our lives as well as enabling us to better service our customers’ and clients’ needs. Whether you have family commitments or you’re a carer, or whether you need study time or wish to pursue personal interests, our approach to working flexibly is designed to help you balance your life.
If you would like some flexibility then please discuss this with the hiring manager.