Vikash Budhdeo

Utility Name: Wholesale Onboarding & Group Financial Crime Operations (£300m cost base c.5k FTEs)

• Manged daily financial operations and strategic objectives for division.
• Member of the division’s management team.
• Owned corporate finance deliverables, which included medium term plans (MTP), annual business plan (STP), quarterly reforecasts, strategic cost actions and management committee scenario analysis and risk/opportunities for day-to-day decision making.
• Delivered monthly financial insight across Operations and Technology directly to Accountable Executives. Aligning financial planning with strategy incorporating workforce, vendor, and balance sheet.
• Managed a cross-functional team of 5 individuals between London, Glasgow, and India.

• Utility grown c.270% from £110m (c.2.4k FTEs) in 2010 to c.£300m (c. 5k FTEs)
• Delivered £60m (20%) sustainable cost reduction of the utility, which aligned to Barclays’ £2bn cost reduction strategy announced in February 2024.
• Embedded end-to-end allocation model from service entity to trading entities.
• Enhanced visibility of software capitalization and impairment forecasting.
• Strengthened stakeholder engagement through monthly cost and workforce review forums.

Group-wide Shared Service Cost base (c.£6bn)

• Managed team of 6 individual between London, Chennai and Noida delivering cost transparency.
• Developed cost-driver modelling concept for Price * Quantity and Vendor-level cost tracking.
• Partnered cross functional with HR and COO to align workforce and outsourcing data.
• Transformed reporting for outsourcing contracts based on Time & Material vs. Fixed Price.

• Delivered automated accruals and prepayment engine in SAP saving c.20 FTEs across COO.
• Introduced standardised MI for Workforce, Outsourcing and vendor-level covering £6bn cost base
• Introduce implied FTEs for fixed-price contracts used to evidence Barclays’ in-sourcing strategy.
• Simplified rate card modelling and aligned cost and workforce across COO and Central Functions.
• Strengthened governance through predictable chart of accounts and spend-owner accountability

Remediation Portfolio

• Directed resourcing and financial management for bank wide remediation projects, overseeing internal spend and resource governance.
• Supported Barclays’ Structural Reform Programme, enabling the establishment of the ring-fenced bank in April 2018.
• Partnered with offshore teams to deliver high-quality, regulatory-compliant reporting during transformational change.
• Enabled accurate tracking of remediation spend across multiple entities reportable to the regulators.