Payments Specialist – Jeddah – Islamic Development Bank

 Role Purpose:
This role processes all administrative and operational payments related transactions, verifies and processes letters of credit, and maintains banking relationships for IDB. This role coordinates with other IDB departments/entities and external banks and financial institutions for timely processing of payments and maintenance of efficient banking relationships for IDB Group.

Operational Planning
Participate in annual plan and budget preparation.

Policies & Procedures
Update and maintain necessary documents regarding controls, procedures, and guidelines for handling payments.
Assist in the development of overall systems and procedures for payments.

Payments Processing
Process the various payments for the IDB Group ensuring correctness and completeness of documentation for effecting payments.
Review and verify sources and application of funds to ensure proper and efficient processing of payments.
Coordinate with Financial Control Department (FCD) and other entities to manage disbursements.
Coordinate IDB payment arrangements with financial institutions.
Monitor daily Treasury payment processing ensuring adherence to policies and required timelines.
Maintain confidentiality of all payments related data being processed and disseminate only when required as per policies.

Banking Accounts Management
Determine minimum balances and replenishment requirements in coordination with other IDB departments / entities.
Handle all banking relationships with corresponding banks.
Follow up on new standards/regulations governing international payments and banking relationships.
Maintain database of banking relationships with all related details

Knowledge Sharing & Innovation
Recommend improvements or changes when deemed necessary for greater efficiency.
Provide guidance to concerned stakeholders on matters related to payments.

Reporting & Communication
Generate periodic reports on payment activities.
Respond to all enquiries on receipt of payments by beneficiaries in a timely manner and perform related follow up activities.

Required years of experiance:
8 years with Bachelor’s
5 years with Master’s
3 years with Doctorate

Field of Study:
Finance / Accounting / any relevant discipline.

Financial Analysis
Letter of Credit (L/Cs) processing
Knowledge of payments processing, settlements, and international standards/governance/regulations of international payments
Deep knowledge of SWIFT system and regulations
Banking relationships and systems

Employer want to submit job applications through their website at: Apply Online

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