Head of Cross-Border Payment

About the company

First Abu Dhabi Bank (FAB) is the largest bank in the UAE and one of the world's largest and safest financial institutions. We offer a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. Our commitment to excellence and innovation drives us to provide top-tier financial solutions to our clients.

Life at FAB Working at FAB means being part of a team of talented and passionate individuals with a shared vision to support the ambitions of our stakeholders to "grow stronger." We embrace the needs of our customers across the globe with a sense of responsibility and confidence driven by extensive expertise that can only be delivered by an ambitious world-class organization.

Our values At FAB, we place our customers at the core of our activities, live our values each day in every way, celebrate achievements, and empower each other to deliver leading solutions. We have structured plans for the recruitment and career progression of Emirati talent to enable them to make a mark in the financial and banking sector both regionally and globally that rewards your hard work and dedication.

Your tasks

To drive development and commercialization of new payments product propositions, including partnership with payment service providers in a digitally relevant scale with continuous focus on the local and international markets. Responsible for driving the commercialization of cross border payments and actively contribute to FAB's increase in market share and revenue. Responsible for strategizing and working with new strategic propositions and commercialization of the same, like BUNA, tokenization, etc.

Responsible for end-to-end management of new age payment propositions across different markets using technology as an enabler. Conceptualise new product propositions including blockchain, tokens, and work with other GTx stakeholders including next generation propositions, sales, and platforms teams to plan and execute propositions in a customer-centric manner. Responsible for leading the business case and tracking benefits for new initiatives and propositions.

Evaluating market practices and changing regulatory guidelines so that propositions can be reengineered to bring in changes to the existing landscape of propositions available within local and global markets. The individual will engage extensively with regulators and bring in propositions that will ensure FAB has the first mover advantages for specific payments products.

• Support the payments product management, product development, innovation, and delivery channels within the global landscape specifically covering the following:
• Commercialization of existing cross border payments proposition.
• Strategize and launch campaigns to gain market share in overall cross border payments space.
• Blockchain, tokens, and partner bank propositions based relevant review and finalize use cases for FAB to adopt.
• Drive the tokenization and CBDC agenda forward and obtain buy-in internally.
• Actively contribute to the commercialization of FAB Access.
• Continuously track and report the transactional FX as mainstream income.
• Work with regulators and industry forums for proactive identification of new solutions along digital wallets and digital payments to address client requirements.
• Engage with digital team for end-to-end development and product functioning and ensure that the client touch points and channels related to payments are managed.
• Work with platforms, IT, and operations to ensure that all payment products are reviewed regularly to ensure complete functioning and fitness for purpose.
• Drive regional RFPs to ensure that all payment related propositions are joined up and seamless from client perspective, for all international locations.
• Support continuous improvements in the financial, operational, and service performance of the payments products and increase in market share vis-à-vis competition by working around banks' risk and audit principles.
• Reengineer and synchronize processing principles, cut-off timings, and currencies across various units within the bank i.e. channels, operations, IT, risk.
• Evaluate and recommend new ideas and solutions and deliver bottom line benefit as a result of understanding product opportunities. These can be in areas of new proposition, technology, regulation, industry, and market.
• Develop the products and propositions covering aspects of pricing, appropriate positioning in the market and customer segments, and ongoing efficient management of products.
• Responsible for state-of-the-art digital collaterals, website content, go-to-market strategy, and communication strategy of the product launches and commercialization.
• Manage external vendors to support and enhance the payments product from time to time. This involves agreeing and monitoring service levels, and ensuring end-to-end client delight.
• Drive product launches through planning and managing the same in close coordination with internal and external stakeholders.
• Monitor product performance with regular updates including uptake, volume trends, and work with sales to proactively cross-sell payment solutions.
• Manage and own the P&L for payment propositions by regular review and reporting as appropriate.
• Attend client meetings involving complex requirements and own the responsibility of providing the right solution to the client.
• Provide guidance and support to relationship managers, sales, and marketing teams for promoting the relevant products.
• Represent and where possible support the bank in driving cash management product evolution in alignment with the bank's overall strategy and goals.
• Analyse and discuss client pricing discussions for presentation to deal review committee.
• Manage and review the products in line with the product life cycle (PLC) from business cases to actual delivery and commercialization. This involves management of the UAT and signoff.
• Perform other activities as assigned by your manager or head of cash product management from time to time.
• Review existing products and define business requirements for new products.
• Handle end-to-end transaction flow and liaise between operations and clients for smooth processing of transactions.
• Work closely with cash product managers to finalize documentation, structures, rollout new products and solutions across UAE and internationally.
• Contribute to identification of opportunities for continuous improvement of products, systems, processes, and practices while considering client needs and market developments.
• Manage proactively fraud, regulatory, and compliance risks in transactions when developing solutions for clients.
• Ensure delivery of promised solutions to clients in a professional manner and provide premier service to clients across FAB locations.
• Build up FAB's GTx market profile by organizing or participating in various industry events.
• Focus primarily on all client segments across local and global marketplaces.
• Maintain close liaison with staff from solutions and advisory, client services, channel support (global), Magnati NI, payment processors, fintech providers, branch network, relationship managers, IT desk, operations, legal, in-country operations risk, and other relevant stakeholders in product management, development, and commercialization process.
• Participate in review of service standards, operational processes, product and service quality to ensure meeting and exceeding client expectations.
• Assist clients in understanding and using cash management products and channels.

Requirements

Requirements / Qualifications

• Degree in finance, accounting, economics, commerce, or equivalent discipline.
• 15-18 years of relevant experience in individually driving product launches, strategizing product roadmap, and managing P&L.
• A confident self-starter, motivated, with aptitude and willingness to undertake self-learning.
• Experience driving product launches individually end-to-end, including periodic product review.
• Strong P&L management regarding fee-based income for the products.
• Keen interest to learn the business and its processes to best support clients.
• Ability to analyse and understand complex problems, make sound technical decisions, provide recommendations, and communicate solutions proactively.
• Excellent verbal and written communication skills; able to articulate concepts effectively to business users, operational teams, and technologists at all seniority levels within the client and the bank.
• Consultative approach with IT and business partners within both the bank and the client.
• Past experience in payments, collections, and cash management around product management area is required.
• Work experience in electronic banking channels for newer solutions like virtual accounts, payments on behalf of (PoBo), and instant payments landscape across the region.
• Knowledge of new age banking and propositions around CBDCs, tokenization, and virtual assets is essential.
• Knowledge of ERP, accounting, and treasury systems used by clients for reconciliation is needed.
• Knowledge around machine learning, artificial intelligence, and recent payment and cash management global trends is necessary.
• Service-driven approach.
• Ability to convince clients and interact with them in both good and difficult conditions.
• Analytical skills to track revenue opportunities.
• Strong interpersonal skills.
• Basic sales and business mindset.
• Team player with strong influential skills to motivate other team members to achieve business objectives.
• Ability to work in a matrix environment.
• Self-confident and performance-driven.
• Ability to work under pressure with a strong delivery focus.
• Ability to articulate, formulate, and deliver high-quality client presentations.
• Ability to make decisions, influence others, work cooperatively, and find resolutions to client needs.
• Strong appreciation of operations processes and procedures, and understanding of risks.
• Functions within the framework and boundaries of group policies as well as overall organisational and governance frameworks.
• Authorized to take decisions as per the approved authorization matrix.

Preferred / Beneficial

• Professional qualification in cash management preferred.
• Familiarity with the regulatory environment concerning financial industry in UAE and the jurisdictions where FAB is present.

What we offer

FAB offers unique career choices, a chance to innovate, craft solutions for the future, and express yourself in a performance-based culture that will unleash the best in you. Whether you are an experienced professional or just starting your career, FAB provides a range of learning and development initiatives to support all employees through training and skill development.