Analyst

Job description

About Barclays

Barclays is an international financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth management with an extensive presence in Europe, the Americas, Africa and Asia. Barclays' purpose is to help people achieve their ambitions – in the right way.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

At Barclays, we recruit based on merit and are committed to promoting diversity throughout our organisation.

About Accounting, Reporting & Control

Accounting, Reporting and Control is a global function with almost 500 employees based mainly in Noida, Chennai and in the UK.

This sub function is mainly responsible for the following processes:

Financial Systems operations – Accountability for all aspects of financial systems' operations including sub-systems to GL interface, reference data management and data quality validation.

Accounting – Accountable for key accounting judgements, preparation and booking of Trial Balance journals & adjustments and GL Close.

Internal & External reporting – Production and delivery accountability for internal business, statutory and regulatory reporting.

The ARC team also work on indentifying core competencies and processes aligned to TOM Design Council and FC taxonomy.

Transfer Pricing (TP) ensures that all cross-border and cross entity transactions / services within the firm are reflected in the appropriate tax jurisdiction, carried out in adherence to a consistent arm's length framework and in conjunction with the best practice approach in line with all applicable regulatory requirements.

The Revenue Transfer Pricing process repatriates Profit and Loss back to the entity that is bearing the risk. Sales Credit TP on the other hand ensures that the entities that are bearing the costs of the Sales team are appropriately compensated by the entity recording the revenue. The risk of not doing so is that one or more tax authorities may dispute the measure of revenues or costs in one or more BarCap entities. They may either seek to deny a tax deduction for costs or impute additional income for tax purposes to such entities.

Cost Recharge involves ensuring costs are recharged from the booking location to the benefiting location to support matching principles under accounting

The Finance Transfer Pricing staff is responsible for ensuring implementation of arrangements regarding revenue transfer pricing, sales credit and cost recharges. The staff is also responsible for coordinating the settlement and accounting of these transactions across the Investment banking world.

About Intercompany Cost Recharges and Revenue Transfer Pricing

Transfer Pricing (TP) ensures that all cross-border and cross entity transactions / services within the firm are reflected in the appropriate tax jurisdiction, carried out in adherence to a consistent arm's length framework and in conjunction with the best practice approach in line with all applicable regulatory requirements.

The Revenue Transfer Pricing process repatriates Profit and Loss back to the entity that is bearing the risk. Sales Credit TP on the other hand ensures that the entities that are bearing the costs of the Sales team are appropriately compensated by the entity recording the revenue. The risk of not doing so is that one or more tax authorities may dispute the measure of revenues or costs in one or more BarCap entities. They may either seek to deny a tax deduction for costs or impute additional income for tax purposes to such entities.

Cost Recharge involves ensuring costs are recharged from the booking location to the benefiting location to support matching principles under accounting

The Finance Transfer Pricing staff is responsible for ensuring implementation of arrangements regarding revenue transfer pricing, sales credit and cost recharges. The staff is also responsible for coordinating the settlement and accounting of these transactions across the Investment banking world.

Overall purpose of role

Cost Recharge process ensures that the costs are correctly matched to the revenue in the revenue generating entity. This is done with due consideration to the appropriate requirements of the tax jurisdiction in which entities are operating and in adherence to a consistent arm's length framework.

The Inter-company Cost Recharges team ensures that costs incurred by a legal entity on behalf of other legal entities are billed to and recovered from those legal entities.

The team performing this global function is made up of 3 Executives led by a Manager with the workload being split across three regions (UK, US and Asia-pacific).

Key Accountabilities

The main duties and responsibilities of the Inter-co Recharges analyst are :

· Manage the global cost recharge process for Barclays Capital

· Raising of cost recharge invoices

· Recharges related accounting

· Settlements and settlement related accounting

· Resolving inter-co mismatches and attestations in the Eliminations database

· Preparing account substantiations and reconciliations for monthly Account Ownership

· Preparing schedules / reports that feed into the Letter of Representation Packs

· Ensure compliance to various policies and procedures applicable to cost recharges and transfer pricing

· Support entity controllers on cost recharges related issues

· Providing details and substantiation on amounts booked and settled.

· Support infrastructure entities on cost recovery

· Support on details required for tax audits and other audits.

· Participate in projects on improving efficiency and controls in the process

· Automation of manual processes by leveraging SAP functionalities

· Projects directed towards enhancing controls

Stakeholder Management and Leadership

This has been covered in key accountabilities above.

Decision-making and Problem Solving

This has been covered in key accountabilities above.

Risk and Control Objective

All Barclays colleagues have to 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.

Person Specification

Technical knowledge:

Essential:

· Accounting background / experience in accounting

· Strong academic background – 1st /2nd class honours, minimum bachelor degree from a reputable institution

Preferred:

· Qualified Accountant – CA, CPA, ACCA

Experience:

Essential:

· 1 to 3 years post qualification experience

· Background in Finance / Banking

Preferred:

· Experience in Intercompany Recharges

Skills Required:

Essential:

· Strong control awareness.

· Enthusiastic, motivated, self-starter, team player.

· Good IT System skills;

· Strong interpersonal skills and excellent communicator.

· Desire to provide top quality service to internal clients.

· Willingness and ability to take ownership of issues and manage through to a successful resolution.

· Maintains good customer relations

· Team Player

Preferred:

Experience of working in SAP financial accounting or investment banking middle-office / back-office accounting and settlement systems.

Language:

· Ability to speak / write English fluently

The Benefits: Our customers deserve the best. The same goes for our employees. That's why at Barclays you'll receive a range of benefits that include a competitive salary and all the tools, technology and support you need to succeed.

Our Culture: Everything we do is shaped by the five values of Respect, Integrity, Service, Excellence and Stewardship. The values inform the foundations of our relationships with customers and clients, but they also shape how we measure and reward the performance of our employees. Simply put, success is not just about what you achieve, but about how you achieve it.

Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.

Barclays is an equal opportunity employer and are opposed to discrimination on any grounds. For more detailed information, please visit our dedicated Diversity and Inclusion site here .

Barclays Values and Diversity

Our common purpose is to help people achieve their ambitions – in the right way. We'll measure and reward our people, not just on commercial results, but on how they live our Values of Respect, Integrity, Service, Excellence and Stewardship and bring them to life every day. To find out more about working at Barclays and the development opportunities we offer please visit our website www.barclays.com

We are an equal opportunity employer and we are opposed to discrimination on any grounds.