Hedge Accounting Transformation Lead

Job Description

Barclays Overview 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, globalcorporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group. We are an equal opportunity employer and we are opposed to discrimination on any grounds. Working Flexibly Were 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 forall 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 youre a carer, or whether you need studytime 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, and your request will be reviewed subject to businessneeds. Hybrid Working We are currently in the early stages of implementing a hybrid working environment, which means that many colleagues spend part of their working hours at home and part in the office, depending on the nature of the role they are in. Were flexible on how thisworks and it may continue to change and evolve. Depending on your team, typically this means that colleagues spend a minimum of between 20% to 60% of their time in the office, which could be over a week, a month or a quarter. However, some colleagues may chooseto spend more time in the office over a typical period than their role type requires. We also have a flexible working process where, subject to business needs, all colleagues globally are able to request work patterns to reflect their personal circumstancesPlease discuss the detail of the working pattern options for the role with the hiring manager. About Finance Finance and Treasury have an important role in supporting Barclays businesses by providing high-quality reporting and accounting services whilst also supporting business planning and strategy. The strong control environment in which we operate is at the coreof everything we do and this is reflected in the design of our operating model and functional lines. We have the critical role of being responsible for the integrity of the financial records for Barclays . About Finance Transformation The Finance Transformation program is a key priority for the Group. The program aims to organise our function to support performance and growth, improve our processes, efficiency, controls and quality and make a better place for Finance colleagues to work.The program will build the function of the future - one that meets the new, emerging demands of Finance and one that leads the way in our industry. ------------------ About Hedge Accounting Transformation The Hedge Accounting team acts as a key business partner, provides finance advice, support and control to manage the P&L volatility on the Groups banking book hedging portfolio, managing risks across interest rates, foreign exchange and inflation products.The hedge accounting team has hybrid expertise across multiple disciplines including Financial Control, Planning and Stress Testing, Derivative Modelling and Technical Accounting. Risks are managed across multiple Group legal entities, including Barclays Bank, Barclays Bank UK, Barclays Bank Europe and BXSL, covering multiple currencies. Hedge Accounting Transformation is a multi-year programme committed to extending the service offering and thus revenue and economic hedging opportunities to stakeholders globally, alongside revolutionising the reporting and control environment. It involvesa grass roots re-design of the existing platform whilst managing business continuity and the wind down of the existing system, Consaepio. This will be executed aligning to the current IAS39 hedge accounting standards, delivering the future phases of LiborReform and future proofing through design for IFRS9/dynamic risk management future adoption. Overall purpose of role This role will lead the Hedge Accounting Transformation programme to success over a 3-year delivery horizon. It will hold responsibility for design, planning and interlocking with delivery partners whilst leveraging a team of subject matter experts to ensuretransformation outcomes align with finance architecture strategy, drive standardisation, efficiency of operation and future state design principles and business requirements. This will include data analysis, process assessment, and future state operating model/processdesign, promoting best practice design concepts and solutions . Key Accountabilities The Hedge Accounting Transformation Director is accountable for owning the successful delivery of the programme. This will include:

• Actively drive transformation outcomes for the function, through a strategic lens;
• Pro-actively identify external dependencies in the plan; influence and negotiate to unblock;
• Narrating and championing the transformation journey;
• Provide guidance and support to Treasury transformation teams and business users across Treasury;
• Managing the stabilisation and new product development on the existing platform "Consaepio".

Key platform deliverables:

• Standardised derivative product offering to include the hedge accounting of EM currencies and exotic derivatives;
• A global operating model aware of local accounting rules (e.g. US GAAP) and IFRS consolidation at Group;
• A hedge accounting centre of excellence within the Product Control FTC;
• An operating model that aligns to the Product Control FTC 19 key control framework;
• Identification and development of a single transaction data source across Treasury;
• Design simplification and optimisation that allows the hedge accounting function to close its books on WD3;
• Remove the necessity for EUDAs;
• A P&L explain tool that promotes understanding and the forecasting ability of the function.

Key programme responsibilities include:

Defining business case and benefits measurement;

Expanding business requirements through design workshops Be responsible for specific designs for the program, facilitate design workshops and prepare topics f