Associate Vice President – Payments Processing Hub

Rakbank; United Arab Emirates; On-site; AED 240,000 - 420,000; Full time

Benefits offered by this job

Competitive bonus

Medical and life insurance

Employee banking privileges

Learning and development

Job summary

Rakbank seeks a senior Payments Operations Leader to manage end-to-end processing, ensure transactions are accurate and settled within service levels. You will approve complex payments, oversee vendor settlements and drive performance metrics in a high-volume banking environment.

The role requires a strong control mindset, experience with Oracle ERP, and the ability to automate processes while maintaining strict financial controls. Collaboration with auditors and stakeholders is essential.

Qualifications

• Bachelor's degree in Finance, Accounting, Commerce or related discipline.
• Strong understanding of banking operations, payment processing, accounting principles and financial controls.
• Experience managing high-volume payment environments.

Responsibilities

• Lead end-to-end payments processing ensuring accuracy and SLA adherence.
• Authorize payment transactions including SWIFT, vendor payments and manager's cheques.
• Review and approve accounting entries, GL postings and financial transactions.
• Oversee vendor payments and timely settlement of invoices.
• Monitor payment performance metrics and drive service excellence.
• Manage reconciliations including supplier balances and suspense accounts.
• Prepare and review management reports on payments, accounts payable and reconciliations.
• Investigate exceptions and minimise operational risk.
• Support audits with accurate documentation and process insights.
• Identify automation opportunities and improvements across payment operations.

Skills

Payments operations management

Stakeholder management

High-volume processing

Attention to detail

Oracle ERP

Education

Bachelor's degree in Finance/Accounting/Commerce

Tools

Oracle ERP

Job description

• Lead the end-to-end payments processing function, ensuring all transactions are processed accurately and within agreed service levels.
• Authorize payment transactions including SWIFT payments, account credits, Manager's Cheques, and vendor payments.
• Review and approve accounting entries, General Ledger postings, and financial transactions.
• Oversee vendor payment activities and ensure timely settlement of approved invoices.
• Monitor payment performance metrics and drive service excellence across operations.
• Manage reconciliations, including supplier balances and suspense accounts, ensuring timely resolution of discrepancies.
• Oversee utility payments, employee reimbursements, petty cash activities, and recurring finance-related transactions.
• Prepare and review management reports related to payments, accounts payable, and reconciliations.
• Investigate and resolve payment and accounting exceptions while minimizing operational risk.
• Support internal, external, and regulatory audits by providing accurate documentation and process insights.
• Identify opportunities for automation, process optimization, and enhanced controls across payment operations.

Job Description

What You’ll Be Doing

• Lead the end-to-end payments processing function, ensuring all transactions are processed accurately and within agreed service levels.
• Authorize payment transactions including SWIFT payments, account credits, Manager's Cheques, and vendor payments.
• Review and approve accounting entries, General Ledger postings, and financial transactions.
• Oversee vendor payment activities and ensure timely settlement of approved invoices.
• Monitor payment performance metrics and drive service excellence across operations.
• Manage reconciliations, including supplier balances and suspense accounts, ensuring timely resolution of discrepancies.
• Oversee utility payments, employee reimbursements, petty cash activities, and recurring finance-related transactions.
• Prepare and review management reports related to payments, accounts payable, and reconciliations.
• Investigate and resolve payment and accounting exceptions while minimizing operational risk.
• Support internal, external, and regulatory audits by providing accurate documentation and process insights.
• Identify opportunities for automation, process optimization, and enhanced controls across payment operations.

What We’re Looking For

• Bachelor's Degree in Finance, Accounting, Commerce, or a related discipline.
• UAE National with Family Book.
• Strong understanding of banking operations, payment processing, accounting principles, and financial controls.
• Proven experience managing high-volume payment environments.
• Experience working with Oracle ERP (Accounts Payable Module).
• Knowledge of local and international payment processing, including AED and foreign currency transactions.
• Strong control mindset with excellent attention to detail.
• Ability to manage multiple priorities while delivering high levels of accuracy.
• Excellent stakeholder management and communication skills.
• Customer-focused approach with a commitment to operational excellence.

Skills & Competencies

• Payments Operations Management
• Accounts Payable & Financial Controls
• General Ledger & Reconciliations
• Regulatory Compliance & Governance
• Risk Management
• Financial Analysis & Problem Solving
• Process Improvement & Automation
• Oracle ERP
• Stakeholder & Vendor Management
• Reporting & MIS Preparation
• Leadership & Team Development
• Decision-Making & Operational Excellence

Experience Required

• Minimum 5 years of experience within Accounts Payable or Payments Operations in a large organization.
• Experience managing payment volumes exceeding 2,000 transactions per month and payment values exceeding AED 30 million.
• Strong exposure to banking payment operations and financial control environments.

What’s In It For You

At Rakbank, we are committed to helping our people grow and succeed. Joining us means you'll benefit from:

• Competitive compensation and performance-based bonus.
• Comprehensive medical and life insurance coverage.
• Employee banking privileges and exclusive financial benefits.
• Continuous learning and development opportunities.
• Career growth within one of the UAE's leading banks.
• A collaborative and supportive work environment focused on innovation and excellence.
• The opportunity to drive meaningful transformation and automation initiatives across a critical banking function.