As the Head of the Banking vertical, you will Oversee efforts to drive the readiness of all Authority Financial Services Functions across 5 key Readiness Criteria, working closely with the Head of Authority Readiness & Cognitive Government to develop a transition plan for all functions to full End-state setup. Perform the role of regulator and operator during transition to end-state.
Ensure that regulations promote a healthy financial services sector across the key Financial Services functions, as defined:-
FINANCIAL SERVICES FUNCTIONS
- Banking
- Insurance
- Fintech and innovation
- Securities and investment funds
- Consumer and investor protection
- Compliance, risk, security, and resilience
KEY ACCOUNTABILITIES & ACTIVITIES :
- Drive Readiness of all Financial Services functions across 5 Criteria: i) Regulations & Policies
- Work with NEOM Legal on developing and finalizing Financial Services Regulations, Policies and Standards
- Provide expert content and collaborate with other departments to address dependencies
ii) Regulators (People)
- Estimate headcount on lean core-staff, in-house and out-house
- Coordinate with HR and Governor’s Office to identify human resource needs for the environmental functions, migrating internally, or hiring externally
- Develop Job descriptions, validated with experts.
iii) Operational Assets & Systems
- Identify and procure/implement assets and systems required to execute on the Financial Services functions mandate
- Work closely with Cognitive Government to develop both interim and end-state systems to deliver Authority environmental services, and interim phase inspections & compliance
iv) Protocols & Governance
- Develop the governance and processes for the internal operating model of functions, defining SOPs.
v) Stakeholder Interaction & Interface with Base Economy
- Identify areas where cooperation and agreements are needed to provide services in the interim period and identify segregation of duties for interim service delivery
- Identify Base Economy entities and develop processes to communicate and liaise with key points of contact in BE on Financial Service activities and action
- Determine plan for transition from BE to Authority to remain compliant
- Develop an End-state operational model and future strategy for all Financial Service Functions
- Use global benchmarks to establish best practices, headcount, and operating models and design an innovation strategy in line with NEOM vision
- Develop/Review and implement a transition plan to end-state for all Financial Service functions
- Ensure there is a phased transition plan for each Financial Service function to reach end-state model, using NEOM Vision principals: lean, efficient and tech-enabled
- Track and communicate progress
- Manage the budgets and finances related to Financial Services Authority in coordination with NEOM Finance department
Knowledge, Skills and Experience:
- 10+ years of senior leadership experience in a public sector institution (e.g., Minister, Deputy minister, governor of central bank) or in a private-sector institution (e.g., Leading bank, insurance or fintech) is preferred
- Likely previous employers: Ministries of finance and government institutions focused on financial services (e.g., Central bank, Exchange regulator); Private and international institutions in the financial sector (e.g., IMF, European Central Bank, IFC, Credit Agricole, Bank of America, Citi)
Qualifications And Experience:
- Advanced degree in Finance, Economics, Commerce, Business Administration, or a related field
- 20+ years of experience in the public sector (e.g., Ministry of finance, central bank) or in a private institution focused on financial services
- Free Accommodation.
- Free Laundry and housekeeping.
- Free transportation.
- 2 flights per month domestic round trip.
- 1 Annual Travel Allowance.
- Relocation Flight.
- Free Meals ( breakfast, lunch, dinner ).
- Schooling - 60K SAR per child up to 3 children.
- Bonus 20-30% annual (performance based).
- Savings Plan ( Long-term incentive plan ).
- Medical insurance ( VVIP health coverage), for Employee, Family & Parents.
- Annual Leave 30 working days annual.
- Remote Working 24 working days annual.
NEOM is a vision of what the future will be at a time when the world needs innovative solutions. It will be a destination and a home for people who dream big and want to participate in building a new model for sustainable living.
