Senior Manager - Merchant Banking

Job description / Role

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile

Job Purpose:

The role holder will be responsible for driving the payments acceptance business across digital/traditional acceptance, product development (including lending facilities), portfolio management, partnerships/relationship management, technology, operations risk management, analytics reporting and service delivery.

Principal Accountabilities:

• Ensure business stability, growth, strategic alignment and enhanced profitability for Merchant Banking & Partnerships.
• Act as an industry expert as well as being the primary contact for all internal stakeholders on Merchant Banking & Partnerships and POS management and Finance
• Develop product opportunity studies highlighting benefits, costs & risks. In addition, preparing business cases and strategy for new / enhanced products roll-out.
• Establish strategic priorities, sales objectives, and revenue goals for products and the relevant distribution channels to maintain and accelerate revenue growth.
• Manage and document changes to policies and procedures that arise during the client on-boarding process to improve future client experience, bank's operational and local regulatory experience.
• Adhere to policies including escalation and compliance requirements, and follow any other relevant internal controls and procedures as they relate to process, products, policies and regulations.
• Develop business requirements for building Merchant Banking & Partnership capabilities, and work with IT department, audit , risk, compliance, operations and other stakeholders to formulate the project plan, delivery schedules testing and implementation. Monitor the project progress in all aspects from requirements conceptualization to implementation.
• Analyse, plan and execute Pilots and Proof of Concepts for product innovation in the Merchant Banking & Partnerships space.
• Serve as subject matter expert to help review client needs, formulate proposals, assist in implementation and serve as liaison with internal and external service providers to resolve complex client issues.
• Understand banks infrastructure to ensure that operations and systems are able to support the products launched and work with technology and Operations to ensure that the functionalities are as per required specifications.
• Strong knowledge of the various acquiring platforms in the market.
• Enhanced analytics reporting skills with an ability to generate real-time statistics, performance dashboards, BI reports used by sales, finance, and operations.
• Communicate new product updates and enhancements, market trends to sales and implementation teams and assist in monitoring product performance in terms of volumes, value and revenue. Work with concerned units to ensure product MIS is in place for accurate management reports.
• Drive the merchant banking digital roadmap across contactless and emerging payment methodologies.
• Facilitate the coming together of new technology & solutions (e.g. m-POS, scan to pay, tokenization, etc.) to launch new acceptance initiatives.
• Foster trusting partnerships by proactively develop relationships via a continuous discussion of marketplace trends and the development of a consultative sales approach to ensure the business objectives of the client are maximized.

Requirements

Education and Experience

• Bachelor's degree or equivalent
• Previous experience in managing merchant acquiring and POS
• Minimum overall 8-10 years of experience gained from cards/merchant acquiring P&L management, POS product management, and payments experience in the financial services arena

About the Company

In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.

By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.

Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.