Position title
Head of Banking
Description

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
Responsibilities

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
Qualifications

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
Job Benefits
  • 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.

Employment Type
Full-time
Job Location
Tabuk, Saudi Arabia
Date posted
1. August 2022
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Position: Head of Banking

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