Company: Rakuten Europe Bank S.A.
Location: Luxembourg

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RESPONSIBILITIES & DUTIES

Ensure efficient control and management of Financial Operations of the Bank by overseeing:

  • Correspondent Bank partners:

o Manage relationships with all correspondents (fees, settlements, connections)

o Support integration discussions (product and connectivity)

o Nostro management (reconciliation, accounts, currencies)

  • Core Banking System (T24) Operations

o Booking, settlement and validation of all Treasury activity

o Nostro Account set-up and mapping

o Table configuration

o FX and Interest Rate updates

o SWIFT/SEPA integration and control

  • Settlement and Clearing:

o Monitoring and managing impacts of all client related transactional activity (funds flows “in” and “out”)

o Maintain relationship with banks/payment gateways/FX/card providers

  • Product – Comprehensive knowledge of products and related settlement operations:

o Banking Products – Wallet structures – manage settlement channels and issue resolution

o Card issuing – relationship with Program Manager or Card provider

o FX management– engage with Provider on the product and settlement cycle

  • Reconciliation:

o Manage and implement reconciliation modules in core system or with 3rd parties

o Automation and recon efficiency (key for adherence to regulation and timeliness)

  • Extensive experience on settlement channels and service providers such as – but not limited to: SWIFT; SEPA; BACS; CHAPS; FASTERPAYMENTS; ACH
  • Identify and drive initiatives to improve the efficiency of the Bank’s financial operations while ensuring compliance with applicable rules and regulations
  • Create implement and enforce policies, procedures to operate the business
  • Define and ensure relevant KPIs metrics and reports are in place to measure performance and quality of delivery as well as timely identification and resolution of issues
  • Drive the culture of continuous improvement.

Oversee the processes:

  • Nostro Account Settlement / Reconciliations
  • Suspense Accounts Management
  • Clearing Accounts Management
  • Transaction-level Settlement / Reconciliations
  • Exception Handling and Processing
  • End of Day/COB from Operations perspective
  • Review Hold/Authorization queues Management
  • Collateral Management (as per marketing instructions)
  • Transaction Processing Management (third party processors)
  • Other Third-Party Operational Management:

o Payment Gateway(s)

o Card Association(s)

o FX provider(s)

o Retail Network(s)

  • Create implement and enforce policies, procedures and programmers to operate the business
  • Coordinate of and critically analyze KPI; monitoring all operational matters.

EXPERIENCE, KNOWLEDGE, SKILLS & QUALIFICATIONS REQUIRED FOR THE ROLE

  • Master’s Degree in the field of Business Studies, Finance or Accounting
  • Minimum 8 years of relevant experience in a similar function, preferably in an international banking environment
  • Comprehensive knowledge of banking product, payment services, settlement infrastructure
  • Experience in Core Banking Systems setup (T24)
  • Experience driving a cross-functional projects/programs in a Lean organization
  • Strong communication and presentation skills
  • Ability to distill complex operational issues for broad understanding
  • Ability to build a team from scratch and lead in a multicultural environment
  • Project Management Qualification desired
  • Fluency in English is mandatory.