Responsibilities
- Support & contribute to Business management in business planning for Remittance Operations to meet the bank’s values and the company’s mission and objectives.
- Support and contribute to BCAPD’s regional plans for Remittance, including participating in and recommending changes/improvements as a Subject Matter Expert in driving an ideal Core Remittance Model focussed on standardization and digitization of processes and systems, thereby achieving processing efficiency, high-quality output, and overall effectiveness of the process.
- Support planning and changes to Banks’ internal processes related to industry strategic change pertaining to ISO20022 rollout while maintaining underlying processes and controls during the transitionary phase until full rollout.
- Participate in Industry Forums (e.g., MEPS+, ABS & related) to keep abreast of industry changes and to ensure that Bank processes are in line with industry standards related to both domestic and foreign remittance.
- Proactively review processes and controls, identify gaps and redundant processes, and seek automation/process re-engineering (using macro, RPA, OCR, or other workflow tools) to improve efficiency, institute robust control, mitigate risks, and enhance customer experience.
- Actively engage and manage people team meetings, setting direction for the team, including team capacity planning, planning and promoting reskilling, and upskilling training to achieve optimal capacity in the group. Provide mentoring, training, and assistance to support the team’s growth.
- Responsible for setting objectives & facilitating twice-yearly performance reviews for the staff (including managing performance issues within the team). Participate in annual pay review and recommend staff for promotion. Identify talent & execute succession planning.
- Responsible for new product review, new systems/system upgrades, and/or re-design plans, as well as ensuring planning and participation in UAT until successful implementation.
- Participate in regular meetings within BCAPD or with stakeholders (both internal and external, as applicable). Contribute constructively to operational issues, new requirements, new products, systems, etc. Build and drive data-driven decision-making capability (including performance and risk management through KRIs and KPIs).
- Familiarize yourself with Head Office rules and their applicability to Remittance and other BCAPD processes. Have a good understanding of applicable market rules and best practices to drive a control culture within the team.
- Investigate and report discrepancies, information leakage, and irregularities arising from transactions, system failure, etc., and resolve issues, including handling stakeholder complaints and promptly escalating all problems.
- Responsible for Remittance Group’s adherence to Banks’ respective control framework, identifying & reporting gaps (via RCSA, MSII process), control reviews by internal & external auditors, resolution of any gaps observed as an outcome
- Regular review of group procedure manual (BOP) to ensure the group operations is in accordance with SMBC policies, audit comments and in compliance to local as well as related overseas law and regulations.
- Responsible for overseeing and governing offshored processes in line with applicable rules/market practices. Maintain close partnership and collaboration with Shared Service Centre (SSC). Hold regular meetings with SSC to understand issues and work on improvement. Also provide support to SSC by continuously sharing best practices, applicable market practices, and other updates, including regulatory matters.
- Responsible for contributing & executing Remittance Operational Resiliency plan/s and conducting regular reviews of Remittance Group’s BCP drill test scripts and allocating staff members' participation in BCP drills.
- Responsible for timely and accurate submission of remittance-related internal and external reporting requirements, including local and external Regulators (e.g., MAS, MOFA, JFSA, etc.)
- Responsible for approval of transactions and other related workflows on a day to day basis as per underlying authority (including delegated).
Requirements
- Degree in Banking and finance or equivalent. Excellent knowledge of Remitance operations and applicable market best practices.
- At least 10 years of experience in Remittance Operations, of which last 3-5 years as Group Head managing a team of more than 15 staff. Experience in managing offshored processes resulting in effective oversight & governance.
- Knowledge and experience in Cash Operations, including Global Markets Operations for e.g., Pre-settlement, Settlement & Post-Settlement activities and Controls
- Experience initiating successful business/process re-engineering and transformation. End-to-end thinking driving sustainable design/solutions. Strong customer service aptitude and resolving escalated cases on priority. Strong analytical, problem-solving, and judgment skills.
- Good understanding of Industry platforms for Domestic Payment Systems, Cross Border including SWIFT Alliance & related eco systems.
- Knowledge of AML/Screening processes subject to payment processes.
- Good understanding of underlying Local Regulatory Requirements/Notices (MAS626, MAS757, etc.)
- IT skill sets: Understanding of EUC/Macro, RPA, OCR, workflow tools, others. Track records in process reengineering and transformation. Program management skills & understanding of System Development Lifecycle, Agile methodologies.
- Experienced in management/leadership positions in an operations setting and possesses critical thinking skill, excellent oral & written communication and stakeholder management.
- Strong Organization skills and ability to prioritize and manage a variety of tasks.
- Excellent interpersonal skills and people management skills, including the ability to influence & lead a diverse group of people.
