| Job Title: | Head of Discretionary Portfolio Management, Jersey |
| --- | --- |
| Corporate Grade: | Director |
| Reports to: | Head of International Discretionary Portfolio Management |
| Direct Reports: | Three |
| Business Area: | Private Bank |
| Department/Function Level 1: | Investments |
| Department/Function Level 2: | Discretionary Portfolio Management |
| Primary Location: | St Helier, Jersey, Channel islands |
Overall purpose of role
A Portfolio Manager (PM) is central to delivering a great experience for clients by providing first class service, managing investment portfolios and contributing to the overall investment process. PMs act as stewards for our clients and our business – operating both with fiduciary responsibility and a desire to build lasting Discretionary relationships.
Portfolio Managers manage a book of client portfolios and ensure timely execution of investment decisions to generate strong risk-adjusted returns that meet clients’ expectations and goals. PMs are expected to work within established tolerances and personal authorisations based on business procedures and escalate breaches of policies/procedure appropriately.
At Director level, the individual will need to be able to handle a range of clients many of whom will have more complex affairs. The individual will be a strong contributor to our investment decision making forums and process, actively participating, liaising within the team and research specialists. They will be visibly supporting and promoting our investment culture.
Key Accountabilities
Investment Knowledge:
- Demonstrate an in-depth grasp and deep technical knowledge of all nine investment asset classes (cash & short maturity bonds, government bonds, corporate bonds, high yield and emerging market debt, developed market equities, emerging market equities, alternative trading strategies, commodities, real estate), and some knowledge of use of complex instruments in portfolios (e.g. derivatives).
- Demonstrate subject matter expertise within several areas of investment practice (e.g. fixed income, equities) and has accountability for leading the discretionary offering for Jersey and the offshore islands across our organisation to set standards and build capability. They will be recognised internally as thought leader, and will provide technical direction to the wider team and to Private Banking & Overseas Services.
- Work as a member of the Global Discretionary Management team, contributing to the development of Barclays best thinking on Discretionary Management and leveraging this to ensure best investment outcomes for Jersey Discretionary clients.
- Use experience, knowledge and judgement to develop potential solutions to issues/opportunities in portfolio(s) before determining the best response.
- Show good judgement to making a range of changes and adjustments to deliver quality service to their clients and investment performance within their portfolios; as well as being able to build complex and bespoke portfolios based on varied, and distinct sets of individual client mandate/instructions.
- Provide guidance / direction to other colleagues on managing portfolios as well as experience and expertise to assess problems and opportunities in portfolios. Taking responsibility for certain administrative tasks and business-related projects
Leadership:
- Manage and lead a team of individuals and the people and talent agenda for their team and support personal development through coaching and career planning.
- Mentor and support less experienced colleagues to develop their knowledge and capabilities.
- Make a positive impact on the performance culture, investment culture, and collegiate culture of the team and Discretionary business.
- Coach and encourage their team to be open, honest and reliable leaders. They will encourage regular, constructive challenge between different areas of the organisation and set an example by voicing concerns, being receptive to challenges and role modelling control behaviours. They will take accountability for the success and failures of their business unit.
Clients:
- Play a key/lead role in presenting to new clients to win new mandates, or existing clients to carry out review/ defence meetings.
- Build effective and trusted relationships with internal and/or external clients.
- Enhance the DPM / Private Bank / Barclays reputation, present thought leadership on investing and current portfolio positioning to a varied audience confidently and comfortably – through face-to-face presentations to large audiences, or via other media
- Ensure that the client viewpoint is central to all key decisions. They ensure that employees have the resources to be able to understand clients’ needs and to strive to surpass expectations. They will maintain quality relationships with key client groups and anticipate how the perspectives of stakeholders groups are likely to change over the coming years and takes necessary actions.
Stakeholders:
- This role requires a diligent, tactful, client focused individual with an ability to relate to a wide range of stakeholders both internally and externally. An ability to think laterally and creatively is required.
- Play a key/lead role in investment committees or meetings and is capable of effectively chairing investment meetings for the Jersey Private Bank business.
- Articulate investment ideas succinctly and accurately; able to be persuasive in championing internal views and challenging, as well as convincingly deliver messages to different audiences.
- Champion the discretionary organisation in interactions with other investments colleagues and Private Bank teams, Servco (e.g. IT, Operations), and wider Barclays Group.
- Build long-term, trusted relationships with a wide network of colleagues (including seniors, peers and juniors) and external partners. They will obtain input from others in decision making and encourages others to do so. They will use their own resources and expertise to support the work of others. They will seek to increase all aspects of diversity in their area through the decisions they make and the attitudes they promote, challenging the attitudes of others where necessary.
- Set high standards of performance and behaviour for themselves and their team. They put practices in place where great delivery and mistakes are shared, and everyone can learn from them. They attract the best people through taking part in activities inside and outside of the organisation.
Business:
- Contribute to the overall management of the discretionary Private Bank business including sitting on Regional and/or Global governance management.
- Take a leadership role to promote the proposition to internal and external forums.
- Provide significant technical/business input to Private Bank strategic initiatives (e.g. Change Programmes) and, if required, acts as a spokesperson/ representative for the Discretionary business.
- Lead significant and sustainable improvements in their own business area and share this across the. They will engage with a wide range of stakeholders to track changing expectations on business and broader sustainability (social/environmental) issues, and better understand how they can enhance or damage the reputation of the bank. They will balance longer term benefits (over a number of years) with immediate achievements when making or influencing decisions. They will ensure all activity in own area of the business protects or enhances our reputation, now and in the future.
- Contribute to Barclays Citizenship agenda by participating in Community Investment programmes or undertaking special projects
Risk and Control Objective
- Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Risk Management Framework and internal Barclays Policies and Policy Standards
Person Specification
- The successful applicant will have good influencing and negotiating skills; be able to effectively tailor messages to suit the needs of different audiences and be the day-to-day contact point for external parties.
- Working in a wider investment team, the successful applicant will be a dedicated team player. This role requires a diligent, tactful, client focused individual with an ability to relate to a wide range of clients both internally and externally. An ability to think laterally and creatively is required.
- As a team, we hold ourselves to operating by the Barclays Values and the Barclays Way. The individual must be able to demonstrate behaviour in line with these principles as well as be willing to live by and uphold this code of conduct.
- The individual must be uncompromising in their attention to detail, taking personal responsibility to ensure the best results for their clients and for the wider team. They must demonstrate drive, ambition and determination to further develop their skills as a PM and build a promising career in one of the world’s leading investment managers.
- The role holder should be able to manage a book of portfolios and a team within established tolerances and personal authorisations based on business procedures; escalates breaches of policies/procedure appropriately, will ensure that any direct reports are properly supervised for T&C
- The individual will understand current and forthcoming wider regulatory and compliance regime impacting the Private Banking business, will contribute and influence policy and procedures for the Private Bank Discretionary Business and their own proposition, and will demonstrate a duty of care with respect to Barclays’ obligations and responsibilities under local national regulators and relevant Group Policies and business controls.
Essential Skills/Basic Qualifications
- Ability to operate under pressure and to tight deadlines
- Goal-orientated with capability to think independently and solve complicated problems
- Willingness to learn and attention to detail is a vital
- The candidate will have to demonstrate good communication skills in order to deal with a variety of stakeholders
- A team player with a resilient personality
- Previous management experience will be expected, but is not a requirement, particularly in managing and leading small a team of individuals.
Desirable skills/Preferred Qualifications:
- The role holder will need to be a graduate with required professional qualifications to demonstrate intellectual capability for the role.
- The role holder will be required to be an approved person with the Jersey Financial Services Commission.
- CFA is an advantage to this role.
- Fluent English is essential. A second language is beneficial but not essential.
- The role holder will need to hold/be able to acquire relevant local regulatory certification
About Barclays
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. Our goal is to become the bank of choice by providing superior services to customers and clients and supporting our stakeholders via a commercially successful business that generates long-term sustainable returns.
Our two clearly defined divisions, Barclays UK and Barclays International, provide diversification by business line, geography and customer, enhancing financial resilience and helping to contribute to the delivery of consistent returns through the business cycle. We have a strong core business with exciting prospects, well positioned to deliver long-term value for our shareholders.
Consistent with the objective of delivering long-term sustainable value for all our stakeholders, we have developed our Shared Growth Ambition – our approach to citizenship and the sustainability of the business model we operate. The aim is to make decisions and do business that provides our clients and customers, and the communities which we serve, with access to a prosperous future.
The delivery of our strategy is underpinned by the energy, commitment and passion of our people, and we are clear on our common purpose: to help people achieve their ambitions, in the right way.
About Private Bank
As Private Bank we strive to provide the right solutions for our diverse clients through our international network of specialists, located in vibrant financial hotspots around the world. Together we serve 8 different client segments to whom our businesses offer a wide range of products and services.
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 the United Kingdom, the Channel Islands, Ireland, 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 areavailable through the Private Bank; including structured credit and derivative margin trading, direct access to trading desks for equity and FX forwards.
The Private Bank is a leading provider of Discretionary Portfolio Management solutions encompassing Multi-Asset and Single-Asset Class strategies. We serve Fiduciaries, Family Offices, Corporates, Captive, Premier Global, HNW and UHNW clients. We have one of the most stable investment management teams in the industry, our senior portfolio managers have been at Barclays an average of 13 years. This stability is a reflection of our culture whereby colleagues are encouraged to bring their independent insights into a team environment to develop and apply collective best thinking
Barclays Purpose and Values
Barclays has a single cross-business Purpose for Barclays and five core Values which underpin it.
Our Purpose is helping people achieve their ambitions in the right way. Put simply this is the answer to the question ‘What is Barclays for?’ and it should guide our every action as employees.
Respect
We respect and value those we work with, and the contribution that they make.
Integrity
We act fairly, ethically and openly in all we do.
Service
We put our clients and customers at the centre of what we do.
Excellence
We use our energy, skills and resources to deliver the best, sustainable results.
Stewardship
We are passionate about leaving things better than we found them.
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