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The Regulatory Policy team is responsible for leading Barclays' engagement with regulatory agencies on significant policy matters, including regulatory change relating to structural reform, capital, resolution and wider financial market reform.
Overall Purpose of Role
- Facilitating and leading Barclays engagement on regulatory policy issues affecting any of the Group's businesses in the Asia Pacific region including leadership of Barclays response to formal and informal regulatory consultation;
- Assist with strategising and executing regulatory policy engagement with key Asia Pacific regulatory agencies (at all levels of seniority) to further the Group's strategic priorities in the context of regulation and seek to establish relationships of trust with key regulators in this context;
- Lead the Asia Pacific response to, and implementation of, relevant legal and regulatory changes and industry-wide initiatives working closely with product lawyers in the region and regional SMEs in Legal, Treasury, Finance, Market Structure, Compliance, Government Relations and Risk; providing expertise on issues of regulatory policy and interpretation;
- Ensuring regular engagement and dialogue on regulatory policy issues and developments relevant to the Asia Pacific businesses of Barclays take place with regional management and senior non-Legal stakeholders including Asia Pacific ExCo and regional heads of business and trading;
- Contribute to the Regulatory Policy team's input into key internal projects impacting the region including SRP and Brexit related workstreams;
- Liaising closely and working collaboratively with counterparts in other regions (primarily the UK, EU and US) to ensure consistency of approach; working closely in particular with the Global Head of Regulatory Policy to ensure harmonisation of approach on global issues;
- Managing and supervising the input of external advisers in the regulatory policy space;
- Contributing to the Regulatory Policy team's reporting, know-how and other policy development work.
- Lead the region's input to regulatory consultation and facilitate appropriate communications with key regulators on regulatory policy relevant to Barclays across the Asia Pacific region.
- Represent Barclays in external committees and industry trade associations including the joint ISDA/ASIFMA Public Policy Committee and all relevant senior ISDA committees.
- Work with Legal team members and non-Legal SMEs to provide expert input into regulatory change projects and ensure APAC is appropriately involved in/ collaborates with global colleagues on global strategic and regulatory change projects.
- Support the Global Head of Regulatory Policy, keeping them informed and escalating issues where appropriate.
- Work collaboratively with team members, regulatory leads within Business Units, other colleagues involved in regulatory policy (notably in Legal, Market Structure, Treasury, Finance, Compliance, Government Relations, and Risk), and external contacts to drive policy conclusions and implementation and ensure consistency of regulatory policy approach.
- Serve as the primary liaison between Barclays and the financial markets regulatory agencies in Asia Pacific on financial markets regulatory policy issues.
Stakeholder Management and Leadership
- Key internal stakeholders include regional management (heads of business and Asia Pacific ExCo members), regulatory leads with Business Units and other colleagues involved in regulatory policy advocacy and implementation (especially senior colleagues in Legal, Market Structure, Treasury, Finance, Regulatory Relations, Risk, and Global Information Security).
- Maintain effective contact with industry experts including those at trade associations, law firms, academia, and elsewhere to ensure Barclays forms regulatory policy in a robust, coherent and efficient matter, and demonstrates best practice in regulatory policy formation.
- Represent Barclays in relation to appropriate regulatory, supervisory and industry associations.
- Given the role's responsibility for coordinating internal analysis of regulatory policy, developing responses and advocacy strategy, and advising on implementation decisions, the individual needs to be able to contribute individually on a wide range of regulatory topics but also to be skilled at building consensus and leading collaboratively.
- Similarly, from an external perspective, the individual needs to be viewed as delivering thoughtful, constructive, and substantive analysis to be received as an influential and respected advocate at the regulatory agencies and to be a leader of developing industry positions and solutions at trade associations.
Decision-making and Problem Solving
- The individual needs to be able make decisions and exercise judgment about a range of complex policy issues, exercising independent judgment about what issues have significant implications for Barclays and the best way to address them internally and externally.
- Given finite resources, short timelines, broad responsibilities, and the potentially competing priorities of different policy stakeholders, the individual needs to be able to make difficult decisions about prioritization of issues and develop and implement creative advocacy strategies and solutions, leveraging a range of different resources and potential advocacy channels, such as trade associations, similarly situated institutions, think tanks, and other governmental and non-governmental organizations.
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 Barclays Policies and Policy Standards.
- Qualified lawyer in UK/EU/US or APAC jurisdiction.
- Proven technical expertise in the field of financial markets regulation.
- Post-qualification experience in-house with large financial institution or in private practice.
- In-depth knowledge of regulatory/legal framework and requirements applicable to financial markets in relevant jurisdiction.
- Experience working with regulators.
- Detailed knowledge of the international financial market structure framework and requirements applicable to financial services and products, including knowledge of the relationship between domestic regulatory frameworks and international standard setting bodies and boards.
- Experience of working across teams and able to contribute to the strategic direction of policy in a business environment.
- Able to deliver as a senior individual contributor, through influence (and not necessarily through direct ownership or large resources).
- Numerate and financially literate; able to understand and contribute to the business discussions.
- Excellent written and verbal communications skills
- Politically astute and able to understand the dynamics of large, complex organisations; skilled in matrix working.
- Good relationship and stakeholder management skills both across teams and upwards throughout organisations (particularly those that operate complex matrices).
- Experience of working within a highly regulated environment along with a sound understanding of the current environment and key issue within financial services.
- Able to analyse and assess impact of complex legislation/regulation and identify key issues against institutional policy priorities and objectives.