Cost of Income Optimisation Manager

Join Barclays' Resource Management Group (RMG) as a Cost of Income Optimisation Manager in our front office. You will ensure appropriate resource pricing and allocation, maintaining strict compliance. As a Subject Matter Expert (SME) for our Cost of Income (COI) program, You'll deliver strategic reporting, provide thought leadership, and drive optimizations across Agent Banks, CSDs, Exchanges, and CCPs, significantly reducing COI spend and boosting transparency for trading desks.

Accountabilities:

• Identification, implementation and management of strategies to manage down COI principally in the Agent Bank / CSD / Exchanges / CCP space.
• Oversight and ownership of a book of work to achieve COI savings targets.
• Tracking of optimisation efficiency and reporting of achieved savings.
• Analysis of existing cost allocation & MI processes, and definition / implementation of new processes to improve transparency to Trading.

Essential Skills:

• A proven track record in identifying and implementing cost-saving strategies across Agent Banks, Triparty Agents, Exchanges, and CCPs.
• In-depth knowledge of Cost of Income (COI) / Agent Bank / Network costs, along with success in managing optimization initiatives.
• The ability to manage and prioritize multiple initiatives, secure stakeholder support, and drive simplification and cost reduction efforts.
• A strong capacity to evaluate, understand, and clearly explain complex processes to all levels within Trading, Business Management, Finance, and Operations.
• Proficiency in sourcing and managing large, complex datasets.
• A demonstrated ability to navigate large organizations and challenge the status quo.
• Strong numerical and analytical skills.
• Excellent communication skills.
• An effective team player who can build robust relationships within a global team.
• Exceptional attention to detail.
• The ability to work effectively under pressure.

Desirable skills/candidates who also demonstrate the following will be highly regarded:

• Proficiency in monitoring and managing Cost of Income (COI) spend.
• Familiarity with core operational processes related to settlement, messaging, and cancellations across various platforms, regions, and venues.
• Skill with cost allocation processes and methodologies to map invoice costs to desk-level transaction costs.
• Aptitude for performing complex analytics.
• Experience in scripting (SQL/Python).
• Hands-on use of data analytic tools such as Tableau or Power BI.
• A proven ability to take ownership and prioritize work effectively under pressure.
• A solid understanding of the trade lifecycle and front-to-back flows.

You may be assessed on the key critical skills relevant for this role, such as risk and controls, change and transformation, business acumen strategic thinking and digital and technology, as well as job-specific technical skills.

This role is based in London.

Purpose of the role

To manage, optimise and control financial resources and portfolio-wide services with a view to building a true competitive advantage. 

Accountabilities

• Development and implementation of strategies to optimise the allocation and utilisation of financial resources, maximising returns while ensuring compliance with group targets and regulatory requirements.
• Financial analysis, including risk assessments and scenario planning, to support decision-making and resource allocation.
• Collaboration with business stakeholders to develop financial plans, budgets and forecasts aligned with organisational objectives.
• Monitoring and assessment of financial resource consumption against established benchmarks and key performance indicators (KPIs).
• Identification and mitigation of financial risks through the implementation of risk management strategies and controls.

Vice President Expectations

• To contribute or set strategy, drive requirements and make recommendations for change. Plan resources, budgets, and policies; manage and maintain policies/ processes; deliver continuous improvements and escalate breaches of policies/procedures.
• If managing a team, they define jobs and responsibilities, planning for the department’s future needs and operations, counselling employees on performance and contributing to employee pay decisions/changes. They may also lead a number of specialists to influence the operations of a department, in alignment with strategic as well as tactical priorities, while balancing short and long term goals and ensuring that budgets and schedules meet corporate requirements.
• If the position has leadership responsibilities, People 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.
• OR for an individual contributor, they will be a subject matter expert within own discipline and will guide technical direction. They will lead collaborative, multi-year assignments and guide team members through structured assignments, identify the need for the inclusion of other areas of specialisation to complete assignments. They will train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions.
• Advise key stakeholders, including functional leadership teams and senior management on functional and cross functional areas of impact and alignment.
• Manage and mitigate risks through assessment, in support of the control and governance agenda.
• Demonstrate leadership and accountability for managing risk and strengthening controls in relation to the work your team does.
• Demonstrate comprehensive understanding of the organisation functions to contribute to achieving the goals of the business.
• Collaborate with other areas of work, for business aligned support areas to keep up to speed with business activity and the business strategies.
• Create solutions based on sophisticated analytical thought comparing and selecting complex alternatives. In-depth analysis with interpretative thinking will be required to define problems and develop innovative solutions.
• Adopt and include the outcomes of extensive research in problem solving processes.
• Seek out, build and maintain trusting relationships and partnerships with internal and external stakeholders in order to accomplish key business objectives, using influencing and negotiating skills 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.