Vice President - Payment Operations - Banking

Job Purpose :

Operational:

- Create and Deliver the scrutiny model for Payments

- Manage CPC outward and inward remittances, Cheque Clearing function, Cash Management and PDC.

- End to End responsibility for Ayaan/ Premium service initiative on payments.

- Integrate Cash Management into CPC given significant operational and end-customer synergies

- Share best practices from UAE with international locations to uplift local / cross border payments and clearing.

Transformational:

- Functionally work with payments IT Head to create payments center of excellence

- Significant platform replacement with new SWIFT GPII (this is effectively replacing the current SWIFT platform used by the bank across all branches and locations with a upgraded SWIFT network

- Envision and create International payment corridors to facilitate growing retail and SME remittances between UAE and Pakistan, Philippines, India and Bangladesh

- Develop block-chain implementation plans to leverage technology across our inter branch network.

- Introduce gamification as a proof of concept in payments which can then be scaled to other operating units.

Stakeholder:

- Key Project updates to relevant LFs given the significant transformative nature of the projects

- Customer Complaint Management to drive enhanced TAT, accuracy and step-down reduction in referrals

Vendor Management:

- Manage technology vendors who work with on payment platforms

- Manage operational vendors who work with us on operational platforms

Key result Areas

- Effective Management of Operations within Cheques and Payments center pertaining to Outward and Inward Remittance, with a view to enforce adequate Controls, to monitor any process related Operational Risk, highlight and escalate deviations to Operating policy Manual and to ensure timely processing of remittance, Cheque Clearing related functions.

- Effective management of Outsourced processes and liaison with the Management of 3rd Party Outsourcing Vendors to ensure all transactions are processed with agreed SLAs and within agreed Accuracy levels.

- Will be responsible for the Quality Control System all products of CPC including Remittance, Cheque Clearing and Cash Management and Call back functions.

- To assist the head - Cheques and Payment Centre & TOC in implementing new control measures in line with Regulatory / Statutory framework within Cheques Payments and remittance functions. Also to deputize in the absence of the Head of Cheques and Payment Centre

- Will need to take decisions for all Local transactions relating to Cut off timings, SLA adherence for UAE, Qatar, Bahrain and Kuwait for payments and related functions.

- Will be positioned in Dubai but will need to interact with Local business groups and overseas offices also regarding SLA adherence, Currency Cut off timings and related monitoring and control.

- Provide value added services in the area of Clearing, Cash Management, Remittance accurately and efficiently within established delivery standards by adhering to Policies, Procedures, Controls rules and regulation applicable for the respective region to protect bank risk and enhance customer satisfaction.

- Ensures that all Compliance and Regulatory controls are in place such that all inward Outward remittance, Cheque Clearing.

- Ensure that Bank's Compliance and regulatory procedures are followed Ensure adequate training (class room and on the job) to staff.

- Compliance of various Countries Central banks and Head Office policies in combating Money Laundering.

- Ensure proper budgeting at year end and adherence to budgets.

- Conduct root cause analysis for recurring problems in processes, procedures and customer issues and take corrective action.

- Optimize staff productivity and providing coaching and counselling whenever required. Job rotation and training needs and other related staff matters.

- Identify processes for automation, prepare functional specifications, assist in evaluating the system (provided by outside vendor), carry out user acceptance test, certify and implement the system.

- Ensure that unit's standard operating procedures are kept up-to-date.

- Ensure that unit's procedures are capable of controlling and minimizing the operational risks. - Satisfactory Audit Rating.

 Operating Environment, Framework & Boundaries, Working Relationships

- Working in a centralized, Outsourced environment for all UAE, Doha branches and correspondent banks and in coordination with treasury, the job holder controls and manages electronic funds transfers while working with agreed turnaround time and tough cut-offs of UAE Central bank and correspondents in various countries and time zones.

- Centralized operations of payments and receipts activities to serve corporate, retail and correspondent bank's customers and financial institutions worldwide.

- Close interaction with Central bank with regard to implementation of CB directives, process changes.

- Operates in an intense environment with volumes of work fluctuating during the day.

- Fully automated and straight Thru processing linked with Swift, central bank payment system and CPU's.

- Has significant interaction with CRM, FID area managers/ Overseas branches/ FID Liaison offices concerning customer issues and with MIT, RRD, TOC and other correspondent banks.

- The job holder strictly adheres to not only the local and international monetary laws but also regulations governing electronic wire transfers to individual countries.

- The job holder analyzes unit's MIS on regular basis and takes steps for optimum utilization of resources and staff development.

- Meet deadlines, work under pressure, deliver products effectively, manage large number of staff, relive officer/ team leader on annual leave, train new staff and manage and lead successfully the team and keep abreast of the latest development in remittance related functions.

 Problem Solving :

- Mostly related to resolving disputes with corporate, retail and correspondent banks and related issues with CRM, CIBG/ IBG RMs, Overseas Branches and Outsourcing vendors.

- Has to arrive at solutions which cater to both the customer service requirement and maintaining adequate level of control.

- Provide necessary guidelines for transactions which are deviations from the normal procedures thereby protecting banks interests.

- To respond to queries from local and international Central Banks and monetary authorities. - To analyze unit's present processes against local and international standards / requirements and recommend corrective actions accordingly.

- The job holder is required to analyze unit's data / volume, determine trend and arrange resources accordingly while working with flexi-timings.

- Manage expectations in terms of advice.

- Propose practical solutions for product development in line with International Market practice and within International regulations governing Payments and Receipts.

 Decision Making Authority & Responsibility :

- Use discretion and expertise within banks policy, customer limits and international rules and the Risks Involved.

- Take decisions in structured and unstructured situations to ensure that tight deadlines are adhered to without putting the bank to financial risk.

- Staff rotation, career growth, appraisal and recommendation for up gradation / promotions.

- Analyzing risk factors in business booked by the bank and identifying inherent risks in various types of transactions which are complicated and different in nature and for which no guidelines exists.

- Recommend system / automation requirements for the unit, evaluate systems (of both MS and outside vendors) for functional requirements, conduct UAT and certify.

- Recommend need base training for the unit staff.

 Knowledge, Skills and Experience

- 15 years banking experience in the field of remittances / Cash Management, Clearing in Computerized environment.

- Knowledge of SWIFT message formatting standards, operating system in the bank, general banking rules and regulations and latest international practices.

- Strong Communication (verbal / written), leadership, analytical and PC skills.

- Excellent inter-personal skills.

- Fully conversant with local and international compliance / AML / Regulatory requirements.

- Conversant with Process Outsourcing and related risks involved.