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Business Control Officer – Interest Rates

2 weeks ago

London, Greater London, United Kingdom Barclays Full time £60,000 - £120,000 per year
Job Description

Purpose of the role

To assess the integrity and effectiveness of the banks internal control framework to support the mitigation of risk and protection of the banks operational, financial, and reputational risk.  

Accountabilities

  • Knowledge of business areas, products, processes and platforms to be able to assess risk
  • Collaboration with various stakeholders across the bank and business units to improve overall control effectiveness through detailed documentation of control assessments, procedures, and findings.
  • Identification and investigation of potential weaknesses and issues within internal controls to promote continuous improvement and risk mitigation aligned to the bank's control framework, prioritised by its severity to disrupt bank operations.
  • Development of reports to communicate key findings from risk assessment including control weaknesses and recommendations to control owners, senior management, and other stakeholders.
  • Execution of reviews to determine the effectiveness of the bank's internal controls framework aligned to established and evolving policies, regulation, and best practice.
  • Implementation of adherence to the Barclays Controls Framework and set appropriate methodology of assessing controls against the Controls Framework.

Assistant Vice President Expectations

  • To advise and influence decision making, contribute to policy development and take responsibility for operational effectiveness. Collaborate closely with other functions/ business divisions.
  • Lead a team performing complex tasks, using well developed professional knowledge and skills to deliver on work that impacts the whole business function. Set objectives and coach employees in pursuit of those objectives, appraisal of performance relative to objectives and determination of reward outcomes
  • 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 lead collaborative assignments and guide team members through structured assignments, identify the need for the inclusion of other areas of specialisation to complete assignments. They will identify new directions for assignments and/ or projects, identifying a combination of cross functional methodologies or practices to meet required outcomes.
  • 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, 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.

Join Barclays as a Business Control Officer – Interest Rates, where you will play a critical role in safeguarding the integrity and effectiveness of the Interest Rate business' internal control framework. You will help mitigate non-financial risks and protect the bank's operational, financial, and reputational standing. This role involves identifying and remediating control weaknesses, collaborating with key stakeholders such as Front Office, Compliance, Legal, Technology, and other supporting functions, and ensuring adherence to Barclays' control framework and policies.

Key Responsibilities:

  • Monitor and assess the non-financial risk environment across the Interest Rates Sales & Trading business.
  • Identify control gaps and implement remediation plans to bring risks within tolerance.
  • Partner with stakeholders to strengthen control effectiveness and embed risk management practices.
  • Produce high-quality reports and dashboards to communicate risk trends, control weaknesses, and remediation progress to senior management.
  • Support regulatory and internal audit reviews by providing accurate and timely information.
  • Drive continuous improvement and automation initiatives to enhance the control environment and operational resilience.

To be successful in this role, you will need the following:

  • Risk & Control Expertise: Strong knowledge of non-financial risk management, control design and control testing, with a demonstrated ability to apply a risk management mindset. Understanding of issue management and escalation protocols.
  • Stakeholder Management: Proven ability to influence and collaborate effectively with a range of departments, including Front Office, Compliance, Legal, Technology, and other supporting functions. Experience presenting risk insights to committees and senior management.
  • Product Knowledge and Conflicts of Interest: Solid understanding of Interest Rate products (e.g. government bonds, interest rate swaps) and related areas of potential conflicts of interest.
  • Trade Lifecycle Knowledge: Understanding of end-to-end trade lifecycle, including booking, confirmation, settlement, and risk management processes.
  • Analytical & Reporting Skills: Ability to synthesize complex data into clear, actionable insights and produce concise reports for senior stakeholders.
  • Communication Skills: Excellent verbal and written communication skills, with the ability to articulate complex concepts to both technical and non-technical audiences up to MD level.
  • Behavioural Competencies: Commercial awareness, strategic thinking, and ability to challenge constructively. Resilience and adaptability in fast-paced environments.
  • Technical Proficiency: Highly competent in Microsoft Excel (advanced functions, pivot tables), PowerPoint, and Word.

Some other Highly Valued Skills:

  • Regulatory Awareness: Understanding of key regulations impacting Interest Rates trading (e.g., MiFID II, EMIR, Dodd-Frank).
  • Front Office Exposure: Experience working closely with trading desks, ideally within Interest Rates.
  • Change Management: Ability to support and drive control enhancements during business or regulatory change initiatives.
  • Technology & Digital Fluency: Comfort with risk reporting tools, data analytics platforms, and emerging technologies that support risk management.
  • Strategic Thinking: Capacity to anticipate emerging risks and propose proactive solutions.

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

The successful candidate will be based in London.