Behavioral Specialist
Barclays Capital - New York, NY

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Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking, and wealth and investment management. With over 300 years of history and expertise in banking, Barclays moves, lends, invests and protects money for customers and clients worldwide.

As a leading global wealth and investment manager, Barclays provides international and private banking, wealth planning, trust and fiduciary services, investment management, brokerage services and research to private and intermediary clients across the world. Additionally our clients benefit from access to the breadth of personal, corporate and investment banking expertise across Barclays, one of the largest financial services groups in the world.

Our mission is to set a new standard in wealth management by understanding our clients better than anyone else. In pursuit of this objective, we hire and develop only the best people in the industry. We look for talented, tenacious individuals who seek opportunities for self-improvement and career progression. Our long-term agenda can only be achieved through close collaboration and a shared sense of empathy, integrity and trust.

It is the policy of Barclays Capital to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.

Main Function
The Behavioural Finance team is devoted to developing behaviourally motivated applications and client propositions, thereby promoting better investment outcomes and financial satisfaction, both in individual and group settings. We conduct empirical analyses on behavioural aspects of investing, particularly on the role of financial personality (such as risk attitudes and overconfidence). The primary focus is the delivery of tailored investment solutions which help mitigate likely behavioural biases and poor investment decision making. Our goal is that each client’s financial solution is tailored to their personality, objectives, circumstances and behaviour.

The core focus is Wealth Management but we are also expanding the scope to bring Behavioural Finance solutions to all of the bank’s businesses (retail investors, pension design, corporate clients, fund/portfolio managers, etc.). The work requires developing and deploying applications of behaviourally driven concepts and ideas throughout the organisation. Behavioural finance expertise in any area of commercial application is desirable.

Main Duties
  • Contribute to the development of concepts, tools, training material, processes and applications to help us understand clients better and tailor products, portfolio and propositions to their individual needs and circumstances.
  • Present and promote behavioural findings and our Investment Philosophy internally and externally.
  • Supporting bankers and investment advisors in using behavioural finance tools and concepts when advising clients, and to bring in sales and revenue.
  • Design and run behavioural surveys and experiments to a high academic standard.
  • Conduct statistical and theoretical analyses to support development of behaviourally driven client solutions.
  • Producing effective and understandable outputs of these analyses for a non-expert audience.
  • Prescriptive Decision Modelling: using the knowledge synthesized across multiple experiments to build models and technical specification for decision-aids and tools.
  • Writing behavioural content such as articles on aspects of current market events and concise financial education.

Person Requirements
Basic Qualifications:
-Bachelors degree
-Masters, PhD, or research experience

Preferred Qualifications:
  • A strong interest and background in at least two of the following:
    • Experimental economics
    • Experimental psychology
    • Behavioural finance
    • Judgment and decision making
    • Decision making under uncertainty
    • Risk perception and attitudes
    • Behavioural decision theory
    • Portfolio theory
  • Familiarity with techniques such as ANOVA, regression, cluster and factor analysis. A minimum level of statistical and programming skill is required, but we do not require statisticians or econometricians.
  • Good knowledge of MS Office applications and some statistical package
  • Commercial experience, ideally in financial sector, of taking and communicating academic content and ideas to practical application
  • A focus on commercially viable applications of behavioural finance.
  • The desire and ability to acquire new analytical skills rapidly, and a good understanding of probabilistic reasoning.
  • The ability to think critically about the results in context and go beyond the statistical analysis, not just crunch numbers.
  • The ability to deliver valid insight in a time-pressured commercial environment.
  • Ability to present results in an organized and clear way.
  • Excellent written and spoken communication skills.
  • The ability to explain technical topics to a non-technical audience.

Barclays Investment Bank - 21 months ago - save job
About this company
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Barclays Bank is the flagship subsidiary of global financial group Barclays PLC. The bank is primarily active in the UK, where it has some...