Specialist Outward & Cheque Collection

About the Role
This position is responsible for processing and managing payment inquiries to ensure accurate, timely, and compliant execution across various payment streams including KD/FX incoming payments, SWIFT-related activities, TAP/MOJ/ACH (KNPS) payments, and KCC settlement operations. The role involves handling proper escalations, maintaining reconciliations and reporting, and coordinating with internal and external stakeholders when required.

Generic Accountabilities

• Work fully within risk policies and procedures and compliance regulations.
• Ensure all divisional activities comply with corporate governance and regulatory/legal frameworks.

Specific Accountabilities

• Incoming Payments: Ensure all incoming payments (KD/FX) transactions are processed within agreed SLAs, monitor delays, and ensure timely resolution of issues.
• SWIFT: Coordinate all SWIFT-related activities with concerned divisions, ensuring timely execution, accuracy, and proper handling of messages.
• Enquiries: Handle end-to-end payment enquiries by receiving, reviewing, and responding to emails from correspondent banks, local banks, and internal departments, ensuring timely resolution, proper tracking, and closure of all cases including inquiries from corporate, private, and retail teams.
• Signatures Booklet: Maintain, update, and ensure availability of the company's internal and external authorized signatures for verification.
• Follow-up: Ensure all escalated transactions and cases are followed up appropriately until resolution and closure within agreed timelines.
• Network: Establish and maintain relationships with internal and external customers as well as local and foreign banks.
• SLA and Cut-off Times: Ensure all transactions are completed within agreed SLAs and prior to defined cut-off times, highlighting and mitigating any delays or risks.
• Reconciliation: Process daily reconciliation activities, ensuring accuracy, completeness, and timely resolution of discrepancies across all payment streams.
• Reports: Prepare and submit reports related to payments, enquiries, errors, and issues, ensuring accuracy and alignment with internal and regulatory requirements.
• Exception Handling & Escalation: Solve investigation and resolution transactions, ensuring timely escalation, root cause identification, and closure of cases, including delays, unmatched transactions, or funding gaps that may impact settlement completion by coordinating with internal teams and external parties (brokers, local banks, KCC).
• KCC Payments & Settlement: Manage KCC settlement activities including dividends, broker settlements, and money market fund transactions, ensuring timely execution, reconciliation, and compliance with market requirements.
• KCC Transactions: Handle end-to-end processing of Kuwait Clearing Company (KCC) related transactions, including dividends settlement and broker settlements in accordance with market timelines and requirements.
• KCC Settlements Cycles: Monitor daily KCC settlement cycles, ensuring timely receipt and processing of incoming funds from local banks and brokers.
• Broker Funding: Execute and verify broker funding and settlement positions, ensuring that all obligations are fulfilled within defined deadlines to avoid market exposure.
• CBK KCC Requirements: Process RTGS transfers to the Central Bank of Kuwait (CBK) related to KCC settlements and ensure accurate posting and confirmations.
• Transaction Validation: Validate all incoming and outgoing settlement transactions and ensure proper reconciliation of KCC accounts daily.
• OPS KCC Focal Point: Serve as the focal point for all KCC-related matters and coordinate with internal and external stakeholders.
• TAP / MOJ / ACH Payments: Process TAP, MOJ, and ACH (KNPS) payments, ensuring proper handling of reconciliation, returns, rejections, and adherence to SLAs.
• CBK Reporting: Prepare and compile CBK submission requests and regulatory requests, ensuring compliance with reporting requirements and coordination with relevant internal stakeholders when required.

Job Success Factors
Education

• Bachelor's Degree or Equivalent Certification/Experience

Experience

• At least 3 years of banking sector experience
• Error-free processing of payments
• Successful process and cost management
• Support for automation and process improvements
• Effective checks and processes with no losses or fraud
• Maintenance of effective databases and execution of reconciliations
• Providing good advice to customers
• Good communication and teamwork skills
• Strong relationships with internal and external customers

Skills

• Working knowledge of operations and preferably the fundamentals of trade finance
• Knowledge of banking systems, particularly a strong understanding of payment systems (SWIFT, RTGS, ACH)
• Attention to detail and accuracy
• Working knowledge of tools and methodologies such as AML and Risk

Work Contact
Internal Contacts:

• Branches, CBD, IT ops, Finance, HR, CPU, Consumer Banking, Compliance, AML, Legal, Risk

External Contacts:

• Correspondent banks
• Local banks
• Brokers
• Kuwait Clearing Company (KCC)
• Regulators (as applicable)
• Vendors
• Other companies and governmental institutions

JD Code
OPS 26.07