Head of Transaction Monitoring BUK - BXI

­­­­­­­­­­­­­­­­­­Overall purpose of role

The role holder will be responsible for leading a Barclays UK Transaction Monitoring (TM) India team which conducts reviews to detect and disrupt financial Crime throughout the Barclays UK (BUK) Entities. Core accountabilities are to deliver effective Risk mitigation through Transaction Monitoring applications; constantly developing rules and analysis to protect the business and customers from the risk of financial crime. In addition, services include, but are not limited to, Transaction Monitoring Case Reviews, SAR reporting, Securing and holding of funds as required under the Proceeds of Crime Act.           

This role holder will use their extensive existing Financial Crime knowledge and experience to deliver industry-leading AML risk management.

Key Accountabilities

• Lead a large and diverse AML risk management function, engaging stakeholders, and managing resource in line with Operational & stakeholder requirements.
• Design, develop, socialise and implement a Global Financial Crime Operations Target Operating Model for Barclays UK and Barclays International
• Design and deliver robust framework to support high focus on continuing improving end to end quality.
• Deliver operational excellence across all locations and teams by connecting upstream and downstream functions as well as by working with technology teams to deliver Machine Learning and AI solutions.
• Design and deliver strong people leadership strategy to attract, manage, retain and develop talent. Provide mentoring, coaching and training to continuously develop capabilities of talent across locations.
• Operate in a highly matrix environment by managing diverse stakeholders, partners and team members across global locations.
• Design and manage the journey to move the global function from manual processes and controls to streamlined and automated processes and reduced manual controls.
• Own all internal and regulatory audits as well as risk events reporting.
• Tight fiscal discipline by managing budget and aligning to bank wide priorities of cost to income ratio.
• Ensure smooth delivery of day-to-day operations by taking along all teams and locations and maintaining a hands-on approach.
• Ensure effective capacity utilization and deliver year on year efficiencies.

Stakeholder Management and Leadership

• The role holder will be responsible for c3-5 direct reports and a broader Organisation of c250 FTE across India sites.
• Expected to provide on-going feedback, coaching and mentoring that supports individuals’ development needs and career aspirations.
• Actively engage in cross-functional communications and champion a transparent knowledge sharing culture.
• Identify, select, recruit, develop and retain a high performing team, ensuring all colleagues and teams deliver to their potential. The role holder will identify and plan succession roles for their own role and of their direct reports with supporting development plans for succession roles.
• Be accountable for presenting Business performance regularly for their area and may be required to deputise for the Head of Financial Crime Core Operations in key forums with senior stakeholders.
• Build, develop and manage key relationships with all Business Units that the Shared Service provides services to.
• Build strong relationships with Internal Audit (3LOD), Financial Crime compliance (2LOD) and other key stakeholders through the Business and BX structures (1LOD).

Decision-making and Problem Solving

• The role holder will be innovative and forward-thinking with the ability to spot market trends and keeping updated with financial crime, regulatory and economic changes.
• Strong business analysis skills covering people, process, data analysis and systems.

Essential Skills/Basic Qualifications:

• Leadership experience in a financial institution over a Financial Crime AML function (KYC, TM, Screening) is a mandatory requirement
• Broad Financial Crime or similar background
• Direct experience and detailed knowledge of AML Transaction Monitoring including appreciation of TM risk typologies and risk management.
• The ability to translate ‘big picture’ concept to robust delivery and take people on the journey.
• Excellent communication skills with the ability to convey technical and/or complex financial crime information to non-technical stakeholders.
• Ability to challenge and influence business heads and other senior stakeholders on day-to-day and strategic issues.
• A proven track record of delivery in fast paced, high expectation culture collaborative approach, and ability to work across a complex matrix organisation.
• A thorough and implementable knowledge of Financial Crime regulations, trends and legislative changes and updates in UK/US jurisdictions.
• An awareness of the market trends and best practice for TM operations and the software solutions used therein.
• Hands on experience in Financial Crime or similar optimisation projects.

Desirable skills/Preferred Qualifications:

• Experience of leading and managing teams across multiple geographies
• Experience of optimisation tools including AI and understanding of model risk
• Knowledge/practical application of TM platforms
• Experience of direct regulator engagement – ideally UK/US
• Knowledge of financial crime regulations in jurisdictions globally

Purpose of the role

To manage operations within a business area and maintain processes, risk management initiatives and compliance with relevant regulators. 

Accountabilities

• Identification of trends and opportunities to improve areas and develop new process and procedures through the monitoring and analysis of operation data and performance metrices.
• Management of operations for a business area and promote efficient processes, risk management and compliance initiatives to support the bank's operations.
• Collaboration with internal stakeholders (including business leaders, project manager and SMEs) and external stakeholders (including vendors and service providers) to support business operations and promote alignment with the bank's objectives and SLAs.
• Management of operational professionals and provide guidance, coaching and support to improve colleagues' delivery quality.
• Management and development of KPIs to measure the effectiveness of operation functions, utilising data and technology to support the identification of areas that require improvement.
• Compliance with all regulatory requirements and internal policies related to customer experience.
• Creation of a safe environment for colleagues to speak up, actively and regularly encourage and solicit feedback to ensure people agenda remains focused on the right areas.
• Management of attrition by working closely with HR in implementing retention initiatives for work force.

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.