Lead Specialist - Payment System Standards

Bahrain Bank

Key accountabilities:

• Assist the Head of the section in preparing and evaluating current policies, roadmap and plans to propose changes, if necessary, to further promote payments and financial market infrastructures (FMIs), and ensure their safety, efficiency, and soundness.
• Coordinate, organize and carryout the tasks relating to studying and analysing the developments in the payments and FMIs.
• Organize and conduct analytical work, studies, research, consultation papers, surveys and specific assessments to: (i) evaluate risks & inefficiencies; (ii) evaluate existing regulatory requirements; (iii) recommend corrective measures; and (iv) propose the regulatory requirements in the form of regulations, directives, rules, circulars, or instructions (including amendments).
• Regularly collecting and tabulating data and maintaining the database in a confidential manner.
• Monitor operations of FMIs and the major operational incidents reporting, classifications, and assessments of the operators and participants of the payment systems, to identify noncompliance with the directives/regulations and propose remedial measures and/or policy updates and amendments.
• Draft directives, circulars, regulations, and other legislative documents, and review such documents (when necessary).
• Draft reports, letters, press releases to increase awareness among the stakeholders and the public.
• Ensure alignment of payments and FMIs with the best international practices and standards, such as Principles for Financial Market Infrastructure (PFMI).
• Propose recommendations to implement and comply with the PFMI & other standards adopted by the CBB.
• Coordinate, supervise and carry out the work relating to the collection and maintenance of the database on FMIs, in accordance with the BIS Redbook format & definitions, and publish the data & information (where necessary).
• Assess proposals of the implementation and development of FMIs and payment projects and enhancements against the relevant CBB regulatory requirements and international standards (such as PFMIs); and propose, recommend desired specifications and functions of the FMIs.
• Closely monitor and follow-up on the work progress relating to implementation and development of FMIs and payment projects and enhancements ensuring timely and high-quality delivery; propose the required regulatory requirements by way of conditions, regulations, and directives; and review operating rules of FMI.
• Effectively participate in working committees and make necessary arrangements (including arranging meetings, preparing documents, minutes etc.) to assist the Head-Payment System Policy to maintain a close dialogue with the FMI owners, operators, and participants.
• Effectively participate (or lead) in technical committees appointed by the CBB, enabling the CBB to carry out its role relating to the policy and development of the FMIs.
• Cooperate with the relevant officials of the central banks and monetary authorities of the GCC and AMF in implementing collective actions to promote the development of regional and cross-border FMIs and further enhancing regulatory cooperation including surveys.
• Deliver clear, accurate, and timely ad hoc analytical presentations to senior management and committees, enabling well informed decisions even under tight deadlines.

Minimum Qualification:

Bachelor s or master s degree in Banking/Finance/Economics/Data Science/MIS or equivalent. Professional certifications in project management are appreciated.

Minimum Experience:

5-7 years in relevant field