Head of Pensions and Structural FX, CALM

Barclays UK; London; Hybrid; GBP 100,000 - 150,000; Full time

Job summary

A leading company seeks a Head of Pensions and Structural FX to manage investment strategies and oversee structural FX positions. This senior role requires strong analytical skills, excellent communication, and the ability to influence stakeholders. The position offers flexibility and a chance to impact capital management significantly.

Qualifications

• Experience in banking, capital markets, or financial services.
• Strong technical and financial literacy, Treasury knowledge.

Responsibilities

• Lead review of pension fund’s investment and de-risking strategies.
• Engage with internal and external stakeholders, including regulators.
• Ensure compliance with regulatory requirements and internal policies.

Skills

Communication

Interpersonal Skills

Analytical Skills

Influencing

Technical Literacy

Education

University degree or equivalent experience

Job description

Head of Pensions and Structural FX, CALM

Pay: Competitive

Location: London/England

Employment type: Other

Job Description

• Req#: 90369928
• Job Title: Head of Pensions and Structural FX, CALM
• Corporate Grade: Director
• Reports to (Line Manager’s Job Title): Head of Group Capital and Leverage Management
• Direct Reports: 2
• Business Area: Treasury
• Department/Function Level 1: Capital and Leverage Management

Barclays Overview

Barclays is a British universal bank with diversified businesses across various geographies and customer segments, including consumer banking, payments, and a full-service global corporate and investment bank. We support our operations with a dedicated service company providing technology, operations, and functional services.

We are an equal opportunity employer and oppose discrimination on any grounds.

Working Flexibly & Hybrid Working

We are committed to a flexible and inclusive work environment, allowing employees to balance personal and professional needs. Our hybrid working model typically involves spending 20-60% of time in the office, with flexibility to adjust based on role and personal circumstances. Please discuss your preferred work pattern with the hiring manager.

About Treasury

Treasury manages the Group’s capital, funding, and liquidity risks, balancing supply and demand of money and capital to create sustainable value. Responsibilities include financial market activities such as capital and debt market execution, money market funding, cash management, liquidity management, and risk hedging.

About Capital and Leverage Management (CALM)

CALM monitors and manages capital risks and ratios for Barclays and its subsidiaries, optimizing capital resources, risk-weighted assets, and leverage exposure to generate sustainable value.

Role Purpose

Assist the Group Head of CALM in managing the pension fund’s investment and de-risking strategy, and oversee the Group’s structural FX positions. This senior leadership role involves working across Group Treasury with significant influence on senior management.

Key Responsibilities

1. Lead review of pension fund’s investment and de-risking strategies.
2. Assess, communicate, and manage the capital impacts of strategic pension fund changes.
3. Calculate and report pension fund risk metrics (e.g., fund VaR).
4. Evaluate capital requirements driven by pension funds within Barclays and incorporate into the ICAAP process.
5. Own internal and regulatory stress testing of pension funds to assess capital impacts.
6. Engage with Pension Executive Board on pension risks and provisions, including financial plan assumptions.
7. Assess financial assumptions for IAS19 pension liability valuations.
8. Coordinate with second-line colleagues and report fair value risks to capital.
9. Implement controls for pensions data and models.
10. Ensure timely, high-quality reporting and analytics related to capital, interacting with the CALM Transaction Cycle.
11. Oversee structural FX positions, liaising with legal entity treasury teams on balance sheet dynamics.
12. Adjust hedging strategies in response to currency composition changes.

Stakeholder Management & Leadership

Engage with internal and external stakeholders, including:

• Centers of Excellence within CALM
• Risk and Finance teams
• Senior finance colleagues and Pensions Executive Board members
• Regulators

Decision-Making & Problem Solving

• Strong analytical skills and knowledge of financial instruments and mathematics; pension fund operations knowledge is a plus.
• Judgment to escalate issues appropriately.
• Ability to work independently and lead a team.

Risk & Control

Ensure compliance with regulatory requirements, risk management frameworks, and internal policies.

Person Specification

Essential Skills/Qualifications:

• Excellent written and verbal communication skills
• Strong interpersonal skills
• Experience in banking, capital markets, or financial services
• Ability to influence senior stakeholders
• Strong technical and financial literacy, Treasury knowledge
• University degree or equivalent experience

Desirable Skills:

• Understanding of defined benefit pension funds and associated risks/valuations
• Knowledge of financial and non-financial risk management

Values & Mindset

We operate with respect, integrity, service, excellence, and stewardship, aiming to empower, challenge, and drive in our actions, focusing on sustainability and positive impact.

About the Company

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