Head of Remittance & FI

OVERVIEW

HRSI is conducting an executive search on behalf of a leading global bank in Pakistan. The Head of Remittance & FI role is responsible for managing remittance business and relationships with financial institutions. The role serves as a strategic bridge between the bank and global financial partners enabling cross-border business opportunities and supporting the banks international connectivity.

The organization is an equal opportunity employer committed to fostering diversity and inclusion across all levels of our organization.

The Head of Remittance & FI role is responsible for managing remittance business and relationships with financial institutions. The role serves as a strategic bridge between the bank and global financial partners enabling cross-border business opportunities and supporting the banks international connectivity. The position will play a key role in expanding the banks Non-Resident Pakistan (NRP) and Roshan Digital Account (RDA) proposition by establishing strategic partnerships with overseas banks exchange companies remittance providers and fintech platforms to drive customer acquisition remittance flows and investment opportunities. The role includes risk management negotiating agreements and driving business growth through strategic partnerships.

• Lead and manage the remittance business by developing and implementing strategies to enhance remittance business strengthen remittance partnerships and expand remittance corridors.
• Establish and maintain strong relationships with central bank local and international financial institutions.
• Manage KYC for onboarding new FI relationships to expand the banks network and business opportunities.
• P&L and Budget ownership own remittances P&L annual budget cost model and margin targets deliver revenue growth and cost efficiency.
• Define and execute business plan strategy for remittance corridors and channels; expand distribution and partnerships.
• Support the growth of the Roshan Digital Account (RDA) and Non-Resident Pakistan (NRP) business by establishing partnerships with overseas banks exchange houses fintechs and remittance service providers.
• Liaise with correspondent banks exchange houses and remittance service providers for payments related queries.
• Manage Vostro and Nostro account relationships and agency arrangements.
• Manage and negotiate legal and operational documentation with counterparty banks including Repo agreements ISDA agreements Islamic agreements (eg. Musharakah Wakalah etc) and other relevant documentation ensuring alignment with risk management framework.
• Coordinate periodic credit reviews and limit renewals for Financial Institution counterparties.
• Identify cross-selling opportunities across Treasury Trade Remittance and Islamic Banking.
• Engage regularly with fintechs exchange companies and remittance partners to build and strengthen relationships.
• Liaise closely with the IT and Digital team for integration of remittance platforms.
• Coordinate with Treasury team to maintain completive foreign exchange pricing and maximize remittance flows.
• Coordinate with Compliance team to ensure adherence to regulatory requirements effective transaction monitoring and timely resolution of compliance-related issues.

Operating Environment Framework and Boundaries Working Relationships:

• Complex dynamic and fast changing operating environment.
• Developing and maintaining relationships with regulator counterparties exchange companies and remittance partners.
• Represent the bank at industry forums conferences and meetings with international institutions.

• Resolve all day-to-day transactional and operational level issues related to remittance payments.
• Apply critical thinking and innovative approaches to address market challenges and capitalize on opportunities.
• Implement agile methodologies to foster a culture of continuous improvement by regularly reviewing processes and seeking feedback for optimization.

• Ensure compliance with regulatory requirements AML/CFT standards sanctions and correspondent banking due diligence.
• Monitor and manage counterparty risk.
• Maintain adherence to internal policies and regulatory guidelines.

• 10 years relevant experience in a banks FI and remittance function.
• Minimum bachelors degree masters degree in Finance or related field.
• Strong understanding of FE regulations FI trade financial markets and remittance products.
• Excellent interpersonal communication lateral thinking and analytical skills with ability to perform as a team player.
• Ability to make quick decisions under pressure and in a fast-paced environment.
• Adaptability and openness to change fostering an agile and dynamic work culture.