Head of Remittance Products & Solution Delivery

Job Description

Faysal Bank Ltd is seeking a dedicated Head of Remittance Products & Solution Delivery to lead the development and management of remittance product offerings and solution delivery strategies. In this role, you will oversee a team of six professionals, driving end-to-end product lifecycle management and ensuring compliance with industry regulations. Your expertise in digital payment technologies, remittance operations, and payment processing systems will be vital to advancing the bank’s position in the payments industry while delivering innovative solutions that address customer needs and regulatory demands. As the Head of Remittance Products & Solution Delivery,

you will leverage your extensive experience in remittances, corporate banking, or cash management to manage and enhance the bank’s product portfolio. You will collaborate with cross-functional teams to define product requirements, supervise solution delivery, and apply agile project management principles that improve operational efficiency. This leadership role requires a strategic mindset, a comprehensive understanding of payment systems, and a commitment to regulatory compliance, all aimed at maintaining Faysal Bank Ltd’s competitive advantage in the market.

Responsibilities
 

Strategy & Initiatives

§  To support and provide input to the Global Head – Remittances for developing and implementing the annual and medium-term strategy for Division, with focus on new products, initiatives, and solution delivery, in alignment with the Bank’s business and strategic objectives.

§  To regularly assess the impact of the developed strategies and initiatives in terms of automation and digitalization of business channels, internal process optimization, new product utilities, and customer experience/convenience.

§  To regularly monitor the achievement of Projects/KPIs for the Department, and implement measures to improve performance where required.

Project Management

§  To lead the and execute the smooth system migration from FRC to HRS within time frame  in collaboration with the relevant internal and external stakeholders (i.e. IT, Digital Banking, Risk, Sharia Compliance, Vendors, etc.).

§  To assess and implement opportunities for automation and digitization of processes, products, and solution delivery within the domain of the remittances business, in consultation with the remittance business team, and external partners.

§  To lead the planning, implementation and monitoring of automation and digitalization projects for the remittance business, in collaboration with the relevant internal and external stakeholders (i.e. IT, Digital Banking, Risk, Sharia Compliance, Vendors, etc.).

§  To identify the application, hardware, and system-based requirements of proposed automation and digitalization projects for the remittance business (Ex. Remittance tracking, complaint management portal, website enhancement, WhatsApp Banking, ChatBot, Mobile Application and Internet Banking enablement, etc.) in collaboration with the relevant internal and external stakeholders.

§  To review and sign-off on Business Requirement Documents or Change Requests related to automation and digitalization projects for the remittance business.

§  To ensure adherence to project roadmaps, including all project milestones, resource allocations, interdependencies, and timelines, in collaboration with the relevant internal stakeholders and vendors.

§  To regularly monitor the status/performance of projects from a timeline, budget and operational efficiency perspective.

§  To identify potential risks and issues in project deliverables, and execute measures to mitigate the risk of any adverse impact on project execution.

§  To execute User Acceptance Tests as required during the project implementation phase, in collaboration with the relevant function, and vendors.

§  To regularly liaise with the relevant internal/external stakeholders in order to provide feedback/updates on project health, deliverables’ status, and any other pertinent matters related to project execution.

§  To monitor the impact and efficiency of projects post-implementation and ensure that necessary actions are taken to rectify any lapses or deficiencies in the project parameters, and provide execution support on critical path deliverables where necessary.

§  To ensure that all project related documentation, audit trails, approvals, etc. are maintained accurately.

Product Development

§  To assess and implement opportunities for development of new products for the remittances business, in consultation with the remittance business team, and external partners.

• To regularly carry out an analysis of remittance products available in the local and international markets as a tool for assessing any gaps in the Bank's product suite.
• To utilize feedback from the Bank's customers, focus groups, analytical reports, and other communication mediums as a tool for designing new products, revising existing product features, or shelving existing products.
• To manage the product development process across all phases (i.e. Product design, internal/regulatory approvals, product delivery, and ancillary activities.)
• To launch customized and value-added products that cater to the economy's diverse market and customer segments to maintain a competitive edge and achieve an enhanced market share.
• To create product bundles for specific consumer segments that offer multiple value propositions as a tool for enhancing customer convenience/experience.
• To lead the development of policies, procedures, and system processes, for the Bank's remittance products, in collaboration with internal/external stakeholders.
• To liaise with front-end business teams for planning and executing remittance product campaigns over defined timelines/frequencies.

Solution & Service Delivery

§  To implement and lead a comprehensive framework that delivers process and transactional efficiencies to the Bank’s remittance partners.

§  To ensure implementation of necessary Application Programming Interfaces (APIs) and modules in the core banking system, in collaboration with the Bank’s IT Group, in order to deliver process and transactional efficiencies for the remittance business.

§  To ensure that all customer/stakeholder complaints related to the remittance business are resolved within establish TATs, in collaboration with the relevant internal and external stakeholders.

Regulatory Compliance

• To ensure provision of information/reports to internal/external regulators as per stipulated frequencies or on an ad-hoc basis.
• To respond to queries/complaints raised by internal/external regulators within the stipulated timelines.
• To ensure rectification of internal audit objections/exceptions within the stipulated timelines.