Broker Dealer Regulatory Director

US Broker Dealer Regulatory Reporting is part of the Financial Control function within the Americas Finance umbrella, supporting all businesses within BCI. The team is responsible for ensuring the US Broker Dealer entity satisfy the various financial responsibility rules set out by SEC/FINRA/CFTC/CME, e.g. customer protection, capital requirements and regulatory filings.  In addition, this team is also responsible for interpreting certain broker dealer rules and regulations, and providing guidance and advice to businesses on transactions/product developments which may have customer protection, net capital and regulatory filing implication.

The Regulatory Reporting Director will provide support to the head of Regulatory Reporting including the oversight of critical functions of the broker dealer regulatory reporting processes including the monthly FOCUS report and 15c3-1 Net Capital computation.  The individual will be responsible for overseeing and managing regulatory transformation initiatives including the implementation of new regulations, along with overseeing the related regulatory reporting processes.  The primary objective of the role is to build sustainable and highly controlled process that adhere to the relevant rules and regulations. The candidate we are seeking is a highly skilled and motivated individual with leadership abilities, a drive to continually improve processes, and the expertise to oversee complex processes.

This position has extensive coverage of the US Broker-Dealer financial reporting information and will have exposure to a broad range of the entity’s products and business activities.  It will have key interfaces with various audiences amongst infrastructure areas such as Operations, Finance, Risk, Treasury, Compliance and Legal. 

Essential Skills/Basic Qualifications:

• Experience and expertise in SEC/FINRA Broker Dealer Regulatory Reporting, overseeing the 15c3-1 Net Capital and FOCUS reporting process.
• Understanding of the Operational records and settlement mechanics of a broker dealer.
• Experience & ability to lead a team.
• Ability to independently execute tasks, challenge, and escalate issues where needed.
• Strong attention to detail and ability to present to key stakeholders including senior management and regulators.

Desirable skills/Preferred Qualifications:

• Experience in other areas of regulatory reporting such as the 15c3-3 customer reserve and/or Possession or Control requirements of 15c3-3, and the CFTC segregation requirements.
• Detail oriented and strong analytical aptitude - ability to work efficiently with advanced spreadsheets and solve problems with minimal guidance.
• Ability to build relationships across teams and with senior management.

Purpose of the role

To identify, assess and mitigate prudential regulatory reporting risks, provide oversight on regulatory reporting, and maintenance of open communication with regulators to ensure that the bank's activities and operations comply with all applicable laws, regulations, and internal control policies.  

Accountabilities

• Identification and assessment of prudential regulatory reporting risks arising from the bank's activities, products, and services. Development and implementation of strategies to mitigate prudential regulatory reporting risks, ensuring compliance with all applicable laws, regulations, and internal control policies, and conduct regular compliance reviews and audits to identify and address potential compliance gaps or violations.
• Assessment of the effectiveness of the bank’s internal control processes and governance framework, including addressing any weaknesses or gaps that could lead to regulatory reporting non-compliance, and implementation of measures to strengthen internal controls.
• Preparation and submission of regulatory reports to authorities, and provision of support to other departments in their preparation and review of regulatory reports.
• Analysis and presentation of regulatory data to provide insights into business performance, identify trends, and support decision-making.
• Development and implementation of training programmes to educate employees on regulatory requirements and compliance responsibilities.
• Communication and liaising with regulatory bodies, prompt responses to inquiries and provision of requested information, and representation of the bank in meetings with regulators.
• Management of the selection, implementation, and maintenance of regulatory reporting systems and software applications, including collaboration with IT colleagues to integrate regulatory reporting systems with other enterprise systems.

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.