STRUCTURE
JumpWork, recruitment company dedicated to the financial sector, supports private banks, investment banks, asset management companies and family offices in their needs of specialized profiles. True partner of proximity, our team of specialists brings to its candidates its expertise, its network and its time. We are currently looking for a Chief Operating Officer, for a private bank based in Monaco.
DUTIES
The purpose of the role is to lead the Private Bank Operations Team in Monaco ensuring that the team provide high standards of service quality in the processing and control of a range of investment, banking and credit products offered on the Monaco platform. In addition the role will focus on improving the Client experience associated with onboarding new clients and managing changes in circumstance as well as ensuring the team complies with all Sanctions and AML policies and deadlines.
The Head of Private Bank Operations Team in Monaco will have a strong background in financial market transactions and onboarding practices and will be responsible for ensuring the smooth running of the following activities:
Client Due Diligence /Account Opening / Banking / Payments Services / Credit Operations /Stock exchange Settlement & Transfers / Corporate Actions processing / Derivatives and complex products – settlement and life cycle events.
For each of the above the role holder will be expected to build relationships with the local teams and interact effectively and professionally with the Front Office and all key stakeholders as well as leveraging experience and expertise of other regional Private Bank Operations Teams.
The role holder will also have to interact with the Bank Shared Services for outsourced activities ensuring smooth and appropriate handling in line with internal agreements and distribution of responsibilities. In addition the role holder will be responsible for driving the alignment of processes and controls across the onshore and offshore platforms supporting the International Private Bank.
The role holder will provide MI and reporting as required to both local and functional governance and oversight meetings to demonstrate the controls, processes and service levels implemented in Monaco are functioning correctly.
Key Accountabilities
· Management of the Private Bank Operations team in Monaco ensuring the all activities are completed within SLA and to the high standards set-out within the Bank Policies.
· Responsible for the high quality of processing by the team according to internal procedures, regulatory/law/tax requirements, and market standards for transactional activity.
· Driving process improvements and reengineering the development of the business process/Avaloq functionality. Identify inefficient processes in terms of effectiveness, increasing efficiency and reducing risk.
· Ensuring proactive resourcing and support for “New Business” and Change initiatives
· The role holder will be responsible for all the elements of performance management and will be key in helping to motivate employees during difficult periods incuding holding regular team meetings to ensure the effective cascade of information as well as receiving feedback on the issues impacting the team and their work.
· Driving the new UHNW proposition from an Operations perspective.
· Building capacity within the existing Monaco resource footprint to support the PB&OS growth plans in 2018.
Strategy Implementation
The role holder will be responsible for driving the Operations response to the new UHNW segment plans. By working with the Head of the UNHW segment they will be responsibile for developing UNHW Operations service levels and activities for supporting UHNW clients during their time with Barclays. This part of the role will be pan- Private Bank & Overseas Services and will help to ensure that we have a consistent approach to managing this service across multiple activities, teams and locations.
The role holder will also focus on building capacity within the existing Operations footprint to support the 2018 PB&OS growth plans. The roleholder will leverage the wider Global Operations model in their strategic design for Monaco Operations and take the opportunity to remove activities to lower cost locations where it makes sense to do so in order to allow the local teams to focus on value-add activities for the Monaco booked Clients.
The role holder will set the standards of performance required to achieve the organisation’s future goals and implement the Operations strategy and take ownership for the long-term contribution of their Monaco Operations to the wider PB&OS performbank’s performance.
Stakeholder Management and Leadership
The successful candidate will be required to manage a wide range of Stakeholders across the business from Analysts through to Managing Directors. The role holder will need to maintain a professional approach and build partnerships with the Front Office to help overcome potential challenges and improve service in line with Client demands.
In addition, the role holder will be responsible driving relationships with key stakeholders in the Banking, Credit and Investment Product Teams to develop and implement new products through the NAPA process ensuring processes and controls are appropriately managed from and end to end point of view. This will include creation and adjustment of procedures for critical activities.
The role holder will be responsible for co-ordinating all change activities impacting the Operations Teams in Monaco to ensure that there is appropriate resource in place and to prevent potential clashes with between projects and other BAU activities which will put at risk project deliverables and Client Experience.
As part of managing the coordination of the change activities impacting Monaco the role holder will be responsible for negotiating with the Project Teams for access to resources and budgets to allow for these changes to proceed. The role holder will have to balance the local needs against the wider global strategy to ensure the appropriate equilibrium is maintained.
Decision-making and Problem Solving
The successful candidate will be required to use their investigative skills to solve problems and make decisions in respect of issues or challenges arising as part of the day to day running of the teams or that are generated through project implementation.
The successful candidate will also need to be able to be proactive, pragmatic and propose solutions to help the front office to develop the business and be part of the continuous growth of the Platform.
Specifically whilst the role holder will be responsible for a limited direct budget, the biggest challenge will be balancing BAU and projects to ensure that the appropriate resource is available to deliver the projects without impacting BAU service level agreements. As a result the role holder will have make decisions about when to negotiate additional FTE to support projects even when the incremental impact is less than & FTE by demonstrating that Operations has reached a tipping point and will be unable to deliver without the additional resource.
Equally the role holder will need to remain commercial and appropriately assess whether additional resources are required to support volume spikes, growth and leavers or whether the activities can be absorbed or covered by internal migration within the Monaco Operations Team.
The role holder will also need to have an innovative and outside of the box box approach to problem solving as they will be responsible not only for the creation of forward thinking global solutions for the Avaloq Banking System but will also be responsible for balancing the BAU resources across multiple platforms to deliver the new solutions. As an example the role holder will be required to focus on creating visionary ideas to improve the customer journeys across onboarding, credit, tax and transfers as well sharing and communicating with the platform Team Leads to help them focus on other journeys
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 Bank Policies and Policy Standards
The successful candidate will ensure that they promote an environment in which the risk and control framework is valued and understood and ensures that controls are in place to monitor this as well as supporting a risk aware culture that ensures solutions to issues are developed and colleagues learn from their mistakes
The roleholder will also ensure there is a full end-to-end understanding of processes, risks and controls with sufficient controls assurance in place and that when issues are identified, they are appropriately logged and improvements are implemented.
PROFILE
The successful candidate will have at least 10 years experience within Global Operations and have a background of working on large change projects and delivering FTE reductions / capacity creation through automation and LEAN. He will have a detailed knowledge of Avaloq and the associated transaction types that are used together with a deep knowledge of linked systems within the Bank technology stack such as Swift, Microsoft Dynamics, and OnDemand.
The successful candidate will be fluent in French and English and will have experience of working in a similar role. He will also need to be able to work as part of a team but be self-motivating to complete tasks individually. A positive outlook combined with strong professionalism will be key as will an eye for detail and an ability to think outside of the box.
JumpWork is an equal opportunity employer and are opposed to discrimination on any grounds. Join us on social networks (Viadeo, Facebook, Twitter). This is the best way to stay updated with our latest offers.