Retail Settlement Team Leader

Position Overview

We are seeking a highly motivated and detail-oriented Retail Settlement Team Leader to oversee and optimize our retail settlement operations. In this pivotal role, you will be responsible for implementing and enforcing departmental policies, processes, and procedures to ensure seamless execution of SAMA (Saudi Central Bank) orders, instructions, and inquiries. Your leadership will drive operational efficiency, compliance, and continuous improvement while maintaining the highest standards of accuracy and integrity in all settlement activities.

Key Responsibilities

The Retail Settlement Team Leader will play a critical role in managing day-to-day operations, ensuring strict adherence to SAMA circulars, regulations, and internal policies. Your responsibilities will include:

• Policy Implementation & Compliance: Develop and enforce approved departmental policies, processes, and procedures to ensure all work is conducted in a controlled and compliant manner. This includes overseeing SAMA execution orders, instructions, and inquiries with precision.
• Operational Execution: Lead the execution of daily operations, including processing payments as per SAMA orders, setting up monthly collection garnishments, and managing SAMA correspondence. Ensure all activities align with established standards and regulatory requirements.
• Performance Monitoring & Reporting: Track and analyze operational performance trends to identify opportunities for efficiency improvements. Prepare comprehensive management reports, dashboards, and performance scorecards to support data-driven decision-making. Monitor KPIs, SLAs, and service performance indicators to ensure optimal operational effectiveness.
• Risk Management & Controls: Identify operational risks, implement preventive controls, and escalate critical issues promptly. Verify the accuracy of accounting journal entries related to settlement activities and ensure timely resolution of reconciliation discrepancies in collaboration with relevant departments.
• Process Automation & Digital Transformation: Drive initiatives to automate processes and enhance digital capabilities, improving operational efficiency, accuracy, and turnaround times. Stay abreast of technological advancements to streamline settlement operations.
• Stakeholder Collaboration: Act as a liaison between Finance, Technology, Risk, Compliance, branches, and other stakeholders to ensure seamless coordination and alignment with business objectives. Facilitate cross-functional projects related to SAMA execution orders and inquiries.
• Continuous Improvement: Contribute to the identification and implementation of best practices to enhance systems, processes, and practices. Focus on cost reduction, productivity improvement, and compliance with SAMA instructions and internal policies.
• Safety, Quality & Environmental Compliance: Adhere to all relevant safety, quality, and environmental management policies, procedures, and controls to maintain a healthy and safe work environment.

Qualifications & Experience

To excel in this role, you must meet the following qualifications and experience requirements:

• Education: Bachelor’s degree in Business Administration, Finance, Accounting, or a related discipline.
• Experience: Minimum of 4-6 years of relevant experience in banking operations, with a strong focus on settlement, payments, or retail banking processes.
• Technical Skills:
  • Proficient knowledge of banking operations processing systems and executive procedures.
  • Strong understanding of SAMA regulations and other applicable rules governing settlement activities.
  • Intermediate-level expertise in Riyad Bank’s main processing systems.
  • Familiarity with SARIE payments and other payment products.
  • Advanced proficiency in Microsoft Excel and data analysis tools.
  • Experience with operational dashboards, performance reporting, reconciliation systems, and Oracle GL (preferred).
• Language Proficiency: Intermediate-level English language skills, both written and verbal.

Why Join Us?

As a Retail Settlement Team Leader, you will have the opportunity to lead a dynamic team, drive operational excellence, and contribute to the bank’s strategic goals. This role offers a competitive compensation package, professional growth opportunities, and the chance to work in a collaborative and innovative environment. If you are a results-driven leader with a passion for operational efficiency and compliance, we invite you to apply and make a significant impact in our organization.