Specialist - Cross-Border Payment Systems Operations

Bahrain Bank

Key accountabilities:

• Execute daily activities of the payment systems promptly within the designated operating hours.
• Manage smooth end-to-end payment operations of the cross-border payment systems that are integrated with domestic RTGS, ensuring timely availability for participants to conduct payments and settlements on each business day.
• Ensure that all valid cross-border customer and interbank fund transfers are processed correctly within the RTGS System and the GCC-RTGS (AFAQ) according to RTGS and AFAQ membership guidelines and regulations.
• Ensure that all valid cross-border customer and interbank fund transfers and payments are successfully processed and settled in accordance with CBB regulations.
• Monitor and verify the settlement of interbank obligations arising from cross-border payment systems are processed and settled successfully.
• Ensure proper usage of IBAN, purpose codes and categories in cross-border customer and interbank fund payments.
• Reconcile and validate all accounts balances at the end of day, at the stipulated Operations schedule, check all posted transactions, generate the final daily account balances, and promptly report any shortfalls in balances to the Head for timely action.
• Ensure correct processing of shortfalls and apply penalties to overdrawn accounts of banks or other institutions.
• Ensure the generation and successful and timely dispatch of Accounts Statements (MT 950s) by the systems to participants, following the update and closing of retail banks accounts.
• Ensure the generation and successful and timely dispatch of Accounts Statements to all indirect participants and switches.
• Ensure monthly calculation and posting of billing related to rejected or canceled RTGS transactions at the start of each new month.
• Ensure that billing transactions are processed and posted successfully, according to CBB s schedule.
• Ensure that monthly interests are settled in CBB accounts held at the cross-border Settlement Agents.
• Contribute to Business Continuity Planning (BCP) activities and provide recommendations.
• Participate in the assessment and implement recommendations to ensure compliance of payment systems and operations against the best international standards: CPMI/IOCO Principles for Financial Market Infrastructure.
• Communicate and coordinate with participants, retail payment systems operators to ensure efficient operation of the payment systems.
• Engage in consultations with the internal and external parties to support the enhancement of payment systems
• Prepare statistical reports, documents, papers and surveys in relation to payment systems operations and compile data for the periodic Redbook updates.
• Provide recommendations for improvements, developments and enhancements of payment systems operations and regulations.
• Propose recommendations for decisions, approvals, permissions, specifications, and caps/limits necessary for CBB s Directives, circulars, and regulations related to payment systems operations.
• Carry out additional tasks and specific assignments as directed by superiors within set deadlines.