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Head of Dealing and Derivatives

Employer
Barclays
Location
Singapore, Singapore
Salary
Competitive
Closing date
Mar 24, 2023

View more

Job Function
Banking
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
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, global corporate 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

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, and your request will be reviewed subject to business needs.

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. Please discuss the detail of the working pattern options for the role with the hiring manager.

About Barclays Private Bank

The Private Bank supports HNW, UHNW and Family Office banking, investment and credit needs through a dedicated Private Banker and team of investment and wealth specialists. With offices in London, Monaco, Switzerland, India and Dubai, the Private Bank offers our international client base access to a fully bespoke service. The business is high growth and significantly invested in delivering high touch personal services and creative client solutions with access to the Corporate and Investment Bank. More complex products are available through the Private Bank, including structured credit, derivative margin trading and access to trading desks for equity, fixed income and FX products.

About Investments at Barclays Private Bank
Barclays Private Bank offers versatility and choice of services to suit client goals and different approaches to investment delivered through an investment platform covering Discretionary, Advisory and Execution Only Investment services. Clients can choose how they invest with us supported by Investment Advisors, Investment Strategists, Product Specialists and Execution team backed by the full power of Barclays Group.

------------------ Overall purpose of role

The role is for the Head of Dealing and Derivatives for Barclays Private Bank in Singapore. The role holder will functionally report to the Global Dealing & Direct Access team which serves active and sophisticated Key clients and Family offices with other desks located in London, Geneva and Monaco. Clients get access to a trading desk with execution specialists and market experts in the Fixed Income and Equity markets to implement trade ideas and manage specialist execution needs. The team is an integrated part of the Global FX & Capital Markets team. The role holder will be responsible for daily trading activity, delivering market commentary and high-quality execution of trade ideas in multiple asset classes and derivatives.

As the Singapore team will be newly established, the role holder will be expected to guide and drive relevant approval processes for the effective operation of the team and also ensure a high standard of conduct and performance in line with relevant global teams and functions.

For Derivatives, initially focused on Structured Products, the role holder will lead the origination, development and delivery of structured products in Singapore as a key client product category. This encompasses a challenging variety of responsibilities relating to origination, product development, design and delivery, and on-going management of the structured products book of business.

The role holder will also be responsible for maintaining and developing client relationships and overseeing the Dealing and Derivatives proposition in Singapore ensuring superior client experience and trading service. It is essential in proactively growing the number of appropriate partnered relationships on the propositions through active Banker/client prospecting.

Key Accountabilities

Proposition Development:
  • Actively work with the Global Head of FX & Capital Markets, Business Heads, and Investments teams to enhance the Dealing and Derivatives infrastructure and operating processes to meet high value client requirements for existing and new clients
  • Contribute effectively with our infrastructure partners (including the Chief Controls Office, Product Approval Teams, Legal and Compliance) to enhance the key control framework required
  • Actively participate in client prospecting and business development efforts including client meetings, conference calls and other presentations primarily with High Net Worth and Key Client teams
Trading & Dealing
  • Perform high quality execution of Fixed Income, Equity and Derivative transactions for high value client relationships
  • Responsible for the end-to-end procedures for the Singapore Dealing desk. Meet governance controls, risk management controls and compliance requirements in an error-free manner
Derivative Product Design, Build and Delivery
  • The role holder will be responsible for supervising the manufacturing process for structured products for Singapore. This includes oversight of product analysis of new products; the ongoing review of the panel of external suppliers, tracking service levels and price performance; supervising the production of client-facing material (e.g., term sheets, brochures, client presentations); and the operational implementation of launches to ensure that product development processes meet internal governance requirements. The role holder will be involved in negotiating terms with counterparties and ensuring implementation of the open architecture approach, including oversight of competitive auctions.
Risk & Control:
  • Maintain an understanding of the risk issues impacting the Global Dealing and Direct Access desks and their relevance to Singapore
  • Provide oversight to ensure local procedures are created, maintained & improved to ensure they accurately reflect the various processes
People Management:
  • Support Private Bankers, Investment Advisors, the Active Advisory team, and clients by contributing expert market technical knowledge, execution capability and market commentary
Stakeholder Management and Leadership

This is a senior role within the PB Investments, and the role holder will work in partnership with the Head of Investments Asia, Private Bankers, Control Delivery, Marketing and Investment Strategy. Strong collaboration is expected with all infrastructure areas and internal stakeholders.

In addition, the role holder will be the representative for the PB platform and liaise with other teams in PB and the Investment Bank to work on strategic developments, regulatory change and global projects.

The role holder will have supervisory responsibilities. The role holder will be expected to help junior members reach their full potential as the business grows. The role holder will be recognised as a role model and subject matter expert. The role holder will act as coach to less experienced team members within PB.

Decision-making and Problem Solving

The role requires strong analytical and technical skills and a deeper understanding of markets and dealing across multiple asset classes, structured products and derivatives as result of the Subject Matter Expertise required to make decisions on behalf of the Private Bank in developing and enhancing the Dealing and Derivatives framework in Singapore as well as take responsibility for its operation and oversight.

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.

Person Specification

Essential Skills/Basic Qualifications:
  • Professional / Technical Experience - Strong private banking / wealth management background, with solid understanding of the institutional market environment, technical and product knowledge across asset classes and derivatives are essential to the role
  • Experience in establishing Dealing and Derivative operations in a new market including definition of policies and operating procedures, negotiation with internal and external stakeholders and counterparties and ability to influence decision-making within PB Investments and the broader PB senior management teams
  • Managerial and Leadership experience - Proven ability to lead a high performing global team in Sales & Trading and/or Execution particularly in managing performance and operational risk mitigation
  • Academic and professional qualifications - A strong academic background or equivalent related experience, and appropriate regulatory qualifications in Singapore or similar jurisdictions.
Desirable skills/Preferred Qualifications:
  • Language skills - Fluency in English with strong written and verbal communication skills and the ability to communicate effectively. An additional language would be beneficial.
Regulated Role

This role is regulated by the Monetary Authority of Singapore

Purpose, Values and Mindset

We deploy finance responsibly to support people and businesses, acting with empathy and integrity, championing innovation and sustainability, for the common good and the long term.

Our values underpin everything we do: Respect, Integrity, Service, Excellence and Stewardship.

Respect

We harness the power of diversity and inclusion in our business, trust those we work with, and value everyone's contribution.

Integrity

We operate with honesty, transparency and fairness in all we do.

Service

We act with empathy and humility, putting the people and businesses we serve at the centre of what we do.

Excellence

We champion innovation, and use our energy, expertise and resources to make a positive difference.

Stewardship

We prize sustainability, and are passionate about leaving things better than we found them.

Our Mindset shapes how we take action, living by our Values, driven by our Purpose, always with our customers and clients at the heart of what we do; our Mindset is to Empower, Challenge and Drive.

Empower

Trust and support each other to deliver. Make decisions with those closest to the topic. Include diverse perspectives. Celebrate success and learn from failure.

Challenge

Question whether things can be done better. Use insights based on data to inform decisions. Be curious about how we can adapt and improve. Speak up and be open to alternative viewpoints.

Drive

Focus on outcomes. Deliver with pace. Be passionate and ambitious about what we do. Take personal responsibility. Actively build collaborative relationships to get things done.

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