Manager: FX Payments & SWIFT SME

Primary Purpose

In line with Bank and department strategy, oversee and manage the entire portfolio of the daily payments and settlements for Trade Services and FX transactions (inwards, outwards and FX queries). Ensure that transactions are made accurately, on the correct date and are compliant with Bank and Industry rules.

Responsible for managing the financial risks in department and for the efficient control and processing of functions in accordance with documented procedures. This includes control of systems, people, financial performance (through payments & budgets), and internal and external customer relationships with the FX Payments department.

SME and Product Owner for SWIFT products. This includes responsibility for formulating and implementing associated processes and procedures, within industry, and legislative regulations that govern relevant payment streams.

Minimum Requirements

Qualifications

• B Com
• Financial Accounting degree (Ideal)

Experience

• 7 years’ previous experience in Banking Operations, Payments, Treasury Operations and projects
• Thorough understanding of operations in the Bank, 9 to 10 years’ experience in similar Industry at a Commercial Bank and Role (Ideal)

Competencies

Technical

• Good communication and leadership skills
• Able to manage and know how to facilitate, consult, and resolve conflicts.
• Ability to collaborate and build strong relationships at all levels, colleagues, peers, and Management.
• Attention to detail and creative problem solving, conceptual, assessment and analysis skills,
• Time Management and priority setting
• Ability to identify weaknesses in the control environment and Implement change

Financial Management

• Provide input into overall budgets and business plans for Trade Services, FX transactions and queries, and associated costs e.g SWIFT costs
• Monitor and manage operational costs monthly.
• Manage systems and people to get the optimum cost to revenue leverage.
• Identify potential cost saving / revenue enhancement initiatives for the Bank where applicable

Client Experience

• Manage the day-to-day operations with due cognizance of:
  o Levels & quality of service delivery as experienced by internal & external stakeholders.
  o Interprets business/customer requirements to provide timeous solutions.
  o Responsiveness: Speed of responses, reaction time, going the extra mile, turnaround time
  o Degree of customer satisfaction from customers
  o Output results from "client servicing" activities. Includes value of advice to customers &/or stakeholders
  o Handle escalated client queries
• Proactively identify issues and opportunities for improving the quality and level of customer satisfaction within the area
• Provide expert advice to other Departments regarding processes and procedures applied in the area relating to FX transactions and queries.
• Support overall process of improving functionality and efficiency across all areas/departments within the Bank and detailing potential training gaps. Conduct presentations for Key Stakeholders to create awareness on FX transaction process flows & Swift products where required.
• Communicate possible changes to all Departments and advise Senior Management to facilitate decision making.
• Develop and maintain positive working relationships with co-workers and stakeholders

Operational Excellence

• Is the SME for SWIFT products within the Bank.
• Direct the day-to-day operations of employees within the FX department, assigning tasks as required. Through capacity planning ensure that the department can handle the volumes of transactions. Identify capacity gaps and put plans in place to resolve issues as they arise.
• Responsible for identifying the current state, and developing the future state end to end policies, procedures, workflows, and associated documentation for the area. Making sure that any changes improve process speed, visibility, consistency, and agility while reducing costs and driving standardization. They should include best practice, rules, and regulations, and be updated when required and/or when market or regulatory changes occur.
• Ensure policies and procedures are adhered to by all staff in the department to ensure that risks are minimized within the area.
• Identify potential financial risks in manual payout procedures and implement processes to mitigate risks proactively, controlling efficiencies to alleviate losses and write-offs.
• Ensure losses are kept to a minimum, root causes are identified, and preventative measures put in place to prevent future losses of a similar nature.
• Authorize high value transactions within delegation of authority and ensure that all payments are verified for accuracy prior to payout.
• Ensure all suspense accounts, unverified queues, repair queues, payment queues, and Nostro’ s are actioned and cleared daily, and that daily and monthly Recons are in order.
• Address day to day mistakes and challenges with Senior Management and staff
• Assist bank staff with queries regarding payments.
• Represent the Bank on any appropriate Industry forums eg SWIFT NMG

This position is advertised in line with our commitment to Employment Equity.