Investment Finance AVP

You will be part of a small team of financial accountants for the Barclays Bank UK Retirement Fund (UKRF) pension fund (c200,000 members and c£24bn of assets) responsible for providing financial accounting and administrative support to the UKRF and Barclays Pensions and Benefits cost centres, including:

• Review of the quarterly and year-end statutory pension fund investment accounting schedules, regulatory and tax reporting, and financial operations (in line with pension scheme accounting standards) prepared by the scheme accountants.
• Produce the annual budget for the pension scheme, and maintain budgetary and cost control information including the production of cost reporting and budget related papers.
• To provide operational support on financial, investment and tax activities including related projects.

Key Accountabilities

To review and analyse pension scheme accounting functions and tax processes for, but not limited to, the following areas:

• Oversight over the reconciliation of the investment records to ensure the accuracy of the financial information using asset valuations reported by third parties and the custodians, and ensuring the timely resolution of queries.Liaising with in-house investment managers and the custodians on investment operation activity to maintain financial control oversight.
• Review the scheme’s annual report and financial statements including liaising with the external auditor and other stakeholders.
• Assist with collating information for the quarterly VAT returns and supporting the completion of tax documentation.
• Management of the production of the annual report and financial statements for investment related entities.
• Day-to-day management for key suppliers including custodians, auditors and tax advisors.
• Support preparation of draft papers for governance committees on financial and tax activity.

To support the pension scheme’s budgetary and cost management activities including:

• Supporting the production of the pension scheme’s annual expenses budget including spend reporting to budget owners, re-forecasts and the production of summary reporting to stakeholders.
• Produce accurate and timely monthly and quarterly budget reports including variance and trend analysis.
• Assist with MI for the Pensions and Benefits cost centres.

To ensure duties are carried out in full compliance with regulatory requirements, the UKRF’s Risk Management Framework and Barclays’ internal policies including

• Ensuring that adequate financial investment controls are designed, documented and operated for all financial entities (UKRF and UKRF’s subsidiaries).This includes the ownership of investment controls included in the UKRF’s risk register, supporting operational controls to comply with SOX reporting and maintaining the relevant sections of the finance procedures manual.
• Providing attestations for the operation of controls including IT access control and the administration of finance controls.
• To review and approve invoice and expense payment instructions.

Essential Skills/Basic Qualifications:

• Professional accounting qualification – ACCA, ACA, CIMA.
• Knowledge of investment asset classes and investment valuation methodologies.
• Analytical skills to deal with a variety and large quantity of financial data from various sources.
• Experienced with Microsoft Office applications especially a strong proficiency in Excel to handle complex data and automate financial reporting.
• Experience of accounting, financial management and control in a highly regulated environment including use of accounting software.

Desirable skills/Preferred Qualifications:

• Knowledge of pension scheme accounting.

Purpose of the role

To manage the financial operations of the organisation, ensuring the accuracy, integrity, and reliability of financial reporting. 

Accountabilities

• Management of the preparation and presentation of accurate and timely financial statements, and other accounting records in accordance with the relevant accounting standards, rules and regulations.
• Support in identification, assessment, and mitigation of financial risks, and report on these financial risks to senior colleagues.
• Development and maintenance of a robust system of internal controls to safeguard assets, ensure that there is no fraudulent misreporting, and ensure the accuracy of financial data, including regular assessment of the effectiveness of internal controls addressing any weaknesses or gaps.  .
• Development and implementation of up-to-date financial policies and procedures to ensure consistent and effective financial practices across the organisation.
• Management of the selection, implementation, and maintenance of financial systems and software applications, including collaboration with IT colleagues to integrate financial systems with other enterprise systems.
• Preparation and submission of statutory and regulatory reports to authorities, and provision of support to other departments in their preparation and review of regulatory reports.
• Coordination with external auditors and regulatory authorities in support of audits and examinations.

Assistant Vice President Expectations

• Consult on complex issues; providing advice to People Leaders to support the resolution of escalated issues.
• Identify ways to mitigate risk and developing new policies/procedures in support of the control and governance agenda.
• Take ownership for managing risk and strengthening controls in relation to the work done.
• Perform work that is closely related to that of other areas, which requires understanding of how areas coordinate and contribute to the achievement of the objectives of the organisation sub-function.
• Collaborate with other areas of work, for business aligned support areas to keep up to speed with business activity and the business strategy.
• Engage in complex analysis of data from multiple sources of information, internal and external sources such as procedures and practises (in other areas, teams, companies, etc).to solve problems creatively and effectively.
• Communicate complex information. 'Complex' information could include sensitive information or information that is difficult to communicate because of its content or its audience.
• Influence or convince stakeholders to achieve outcomes.

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.