Remittance Specialist

About the job Remittance Specialist

Job Title- Remittance Specialist

Term- 12 months

Location- Riyadh, KSA

Relevant experience- Minimum of 5-8 years in the remittance industry

Mandatory requirements-

1. Proven track record of increasing remittance volumes for banking
   institutions
2. Prior experience working in the Middle East

PURPOSE OF JOB
The Remittance Specialist will play a critical role in shaping, launching, and scaling the banks cross-border remittance and international payments capabilities. The role combines deep domain expertise in correspondent banking and settlement models with strong technology, regulatory, and commercialization acumen, supporting both business growth and regulatory compliance in the KSA market.
The specialist will act as a strategic advisor and execution lead, working closely with internal stakeholders, Mastercard, regulators, and technology partners to deliver compliant, scalable, and commercially viable cross-border payment solutions aligned with SAMA requirements and global best practices.

TASKS
Core Responsibilities and Accountabilities
Cross-Border Payments & Remittance Expertise

• Lead and support the design, enhancement, and optimization of cross-border remittance and international payment products, covering inbound and outbound corridors.
• Provide subject-matter expertise on correspondent banking models, including SWIFT, nostro/vostro structures, prefunding, and alternative settlement mechanisms.
• Assess and recommend optimal settlement and liquidity models based on corridor economics, risk appetite, and regulatory constraints.

Regulatory & Compliance Leadership

• Ensure full compliance with SAMA regulations, KSA AML/CFT frameworks, sanctions screening, and cross-border compliance obligations.
• Partner closely with compliance, legal, and risk teams to assess regulatory impacts on product design, corridor expansion, and operating models.
• Support regulatory discussions, audits, and submissions related to remittances and international payments.

Technology & Integration

• Work with technology teams to support API-based integrations, core banking connectivity, and external partner integrations (including payment networks and fintechs).
• Translate business and regulatory requirements into clear functional and technical specifications.
• Support testing, validation, and go-live readiness of new remittance platforms, enhancements, and integrations.

Strategy, Product & Commercialization

• Provide strategic advisory on product positioning, pricing, rollout strategies, and go-to-market models for remittance and cross-border offerings.
• Support corridor prioritization, market analysis, and competitive benchmarking to drive volume growth and profitability.
• Collaborate with marketing, sales, and channel teams to support commercialization and client adoption.

Business Case & Delivery Governance

• Lead or support business case development, including revenue projections, cost models, risk assessment, and ROI analysis.
• Assess operational, regulatory, financial, and technology risks and define mitigation strategies.
• Define implementation roadmaps, milestones, and delivery plans, ensuring alignment across stakeholders.

Stakeholder Management

• Act as a key interface across bank business teams, technology, operations, compliance, and risk functions.
• Manage external stakeholders including Mastercard, correspondent banks, fintech partners, and vendors.
• Support senior management with insights, recommendations, and decision support on remittance initiatives.

Key Requirements
Experience & Knowledge

• Proven expertise in cross-border payments, remittances, correspondent banking, and settlement models.
• Strong understanding of API-driven architectures, core banking systems, and payment integrations.
• In-depth knowledge of KSA regulatory and compliance requirements, including SAMA regulations.
• Demonstrated experience providing strategic advisory on product strategy, rollout, and commercialization.
• Experience validating business cases, assessing risks, and defining end-to-end implementation roadmaps.
• Strong track record of stakeholder management across banking, technology, compliance, and network partners such as Mastercard.

Qualifications

• Bachelors degree in Finance, Business, Technology, or a related field (Masters preferred).
• Relevant certifications in payments, compliance, or project delivery are an advantage.

Skills & Competencies

• Strategic thinking with strong execution focus
• Excellent communication and presentation skills
• Ability to operate effectively in a regulated, multi-stakeholder environment
• Strong analytical and problem-solving capabilities
• Comfortable working across business and technology teams