Head of Payment Channels and Payment Innovations in a Major Bank

S.P.S People FZE; Dubai; On-site; AED 200,000 - 300,000; Full time

Job summary

A leading financial institution in Dubai is seeking a Head of Payment Channels and Payment Innovations. This critical leadership role involves driving the strategy for payment solutions, leading a team, and ensuring compliance with industry standards. The ideal candidate will have extensive experience in payment technologies and a strong focus on innovation. A competitive package will be offered to the right candidate.

Qualifications

• 10+ years of experience in banking or financial services focused on payment channels.
• Proven track record in developing and implementing payment solutions.

Responsibilities

• Develop and implement strategy for payment channels including digital and emerging technologies.
• Lead product development lifecycle for innovative payment solutions.

Skills

Leadership

Communication

Analytical Skills

Strategic Thinking

Education

Bachelor's degree in Business, Finance, Technology

Master's degree

Job description

The Head of Payment Channels and Payment Innovations is a critical leadership role responsible for driving the strategy development and enhancement of the bank's payment channels and innovative payment solutions. This role will lead a team to deliver seamless, secure, and customer-centric payment experiences across all payment channels while also exploring and implementing cutting-edge payment technologies to maintain a competitive edge. This individual will be a thought leader in the payments space, anticipating market trends and customer needs.

Job Responsibilities :

• Strategy Development & Execution : Develop and implement the overall strategy for payment channels, including digital channels (mobile, online), card payments, and emerging payment technologies such as blockchain solutions and other innovations in payments;
• Innovation & New Product Development : Identify, evaluate, and implement innovative payment solutions such as real-time payments, mobile wallets, contactless payments, and other emerging technologies in payments such as crypto solutions. Lead the product development lifecycle from idea analysis and evaluation to launch, including market research, feasibility studies, vendor selection, and management of project execution and product stabilization, followed by improvements / enhancements in payment channels / solutions;
• Channel Management & Optimization : Oversee the performance and optimization of existing payment channels, ensuring high availability, security, and customer satisfaction. This includes managing relationships with vendors and partners and continuously improving processes and systems;
• Team Leadership & Development : Lead, mentor, and develop a high-performing team of payment professionals. Foster a culture of innovation, collaboration, and continuous improvement;
• Risk Management & Compliance : Ensure all payment activities comply with relevant regulations and industry standards. Implement robust risk management frameworks to mitigate fraud and security threats;
• Vendor Management : Manage relationships with third-party payment processors, technology providers, and other vendors. Negotiate contracts and ensure service level agreements are met;
• Budget Management : Develop and manage the budget for payment channels and innovation initiatives. Track expenses and ensure cost-effectiveness;
• Market Research & Competitive Analysis : Stay abreast of industry trends, competitor activities, and emerging payment technologies. Conduct market research to understand customer needs and identify opportunities for innovation;
• Collaboration & Communication : Collaborate effectively with other departments such as IT, Marketing, and Customer Service to ensure seamless integration of payment solutions. Communicate regularly with senior management on the performance of payment channels and innovation initiatives.

Requirements

• Bachelor's degree in Business, Finance, Technology, or a related field. A Master's degree is preferred;
• At least 10 years of relevant experience in the banking or financial services industry with a focus on payment channels and innovation;
• Proven track record of successfully developing and implementing new payment solutions;
• Strong understanding of payment technologies, regulations, and industry best practices;
• Excellent leadership, communication, and interpersonal skills;
• Strategic thinker with the ability to identify and capitalize on market opportunities;
• Data-driven decision maker with strong analytical skills;
• Experience managing budgets and vendors;
• Experience in design and implementation of innovative payment solutions such as crypto products and other payment innovations; knowledge of risk management and compliance requirements related to payments in the United Arab Emirates is an additional advantage.

A competitive package shall be discussed with shortlisted candidates.

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