Deputy Director Payment Services Divisions Product Team

Monetary Authority of Singapore; Singapore; On-site; SGD 80,000 - 120,000; Full time

Job summary

A central bank is seeking a candidate for the Payment Systems Division to oversee mission-critical payment operations and infrastructure. The role requires strong leadership skills and expertise in payment processes, alongside effective stakeholder management. Responsibilities include developing a product roadmap, driving innovation, and ensuring compliance with regulatory standards. Candidates may be considered for permanent or contract roles, with timely notifications for shortlisting.

Qualifications

• Strong subject matter expertise and functional leadership.
• Effective communication and stakeholder management.
• Excellent leadership with ability to manage multi-stakeholder initiatives.
• Ability to thrive in a fast-paced environment.
• Strong analytical skills to navigate complex issues.
• Domain expertise in payment infrastructure and processes.

Responsibilities

• Develop product roadmap for Singapore payments to improve operational efficiency.
• Build strategic partnerships with key stakeholders.
• Champion development of payment market infrastructure.
• Oversee strategic payment operations for operational excellence.
• Establish governance frameworks for regulatory compliance.
• Contribute to payments expertise and capability development.

Skills

Subject matter expertise

Communication skills

Leadership skills

Project management skills

Analytical skills

Problem-solving skills

Job description

Overview

What the role is: You will join the team in the Payment Systems Division (PSD) of IT Department. The main functions of PSD are to:

Manage the business operations of MEPS+, a mission-critical system used by financial institutions (FIs) for settlement of Singapore Dollar inter-bank funds transfers, Singapore Government Securities and MAS Bills; and

Support the Singapore Clearing House Association (SCHA) in overseeing the operations of the Automated Clearing House, which operates key retail payment infrastructures such as the FAST system, the Interbank GIRO system and the cheque truncation systems.

What you will be working on

• Develop the product roadmap for Singapore payments, to keep abreast of international trends, to continuously improve operational efficiency, resiliency and safety of our payment market infrastructure and financial institutions using these infrastructure, and to keep Singapore competitive

• Build and maintain strategic partnerships with key MAS stakeholders and industry players to drive innovation in payment solutions and address market needs and gaps

• Champion the development of key payment market infrastructure in Singapore (including but not limited to MEPS+, FAST, Inter-Bank GIRO, PayNow and cheque clearing systems) to meet national payment strategies

• Oversee strategic payment operations across multiple key payment infrastructure, driving operational excellence and alignment with domestic and international best practices and standards

• Establish and enforce robust governance framework, ensuring adherence to complex regulatory requirements, internal risk parameters, and evolving industry and international standards whilst driving operational transformation

• To contribute to the development of payments expertise and capability in MAS and across the industry

What we are looking for

• An individual with strong subject matter expertise, and who is able to provide functional leadership to stakeholders, team members, and collaboration partners

• Effective communication and stakeholder management skills

• Excellent leadership and project management skills with the ability to lead complex, multi-stakeholder initiatives

• Ability to work effectively in a fast-paced environment and manage multiple priorities

• Strong analytical and design skills, to analyze whitespace and complex landscapes and issues, and design solutions and pathways forward

• Strong problem-solving skills with attention to detail and ability to grasp complex concepts

• Domain expertise

  • Strong understanding of payment infrastructure, processes, resiliency requirements and regulations, particularly in the aforementioned domestic payment infrastructure

  • Good understanding of diverse technology ecosystem underpinning payment and other financial market infrastructure, with particular focus on how these technologies address core business needs such as latency optimisation, scalability, reliability, and regulatory compliance

  • Knowledge of ISO20022 standards and SWIFT messaging

• Experience

  • Experience in payment operations or product management, preferably in an area related to the aforementioned payment infrastructure, or a related field within the financial services industry

  • Experience / strong understanding in cash and liquidity management

  • Experience with or knowledge of emerging payment solutions, such crypto-currencies, digital tokens and stable-coins.

  • Experience with a financial market infrastructure is a plus

As part of the shortlisting process for this role, you may be required to complete a medical declaration and/or undergo further assessment.

Candidates may be considered for a permanent or 2-year contract roles. All applicants will be notified on whether they are shortlisted or not within 4 weeks of the closing date of this job posting.

About Monetary Authority of Singapore

MAS is the central bank of Singapore. Our mission is to promote sustained non-inflationary economic growth, and a sound and progressive financial centre.