Senior Manager - Correspondent Banking & Remittance Services

Group Company: Al Fardan Exchange Designation: Assistant Director - Correspondent Banking & Remittance Services The role involves leading and managing the Correspondent Banking and Remittance Services department at Al Fardan Exchange, a key player in the financial services sector. The incumbent will be responsible for overseeing the development, implementation, and optimization of correspondent banking relationships and remittance operations to ensure compliance, efficiency, and customer satisfaction. This position requires strategic leadership to drive growth, risk management, and operational excellence while aligning with regulatory requirements and the company’s business objectives. Develop and maintain strong correspondent banking relationships to support the company’s remittance and foreign exchange services. Oversee the end-to-end remittance services operations ensuring timely, accurate, and compliant processing of transactions. Ensure adherence to all regulatory and compliance requirements related to correspondent banking and remittance activities, including AML and KYC standards. Lead the team in identifying and mitigating operational risks associated with correspondent banking and remittance services. Collaborate with internal stakeholders and external partners to enhance service delivery, streamline processes, and implement technological advancements. Monitor market trends and regulatory changes to proactively adjust strategies and maintain competitive advantage. Prepare and present detailed reports on correspondent banking activities, remittance volumes, and compliance status to senior management. Drive continuous improvement initiatives to optimize cost efficiency, customer experience, and operational performance. Manage vendor relationships and negotiate service agreements to ensure quality and cost-effective correspondent banking services. Provide leadership, coaching, and development opportunities to team members to build a high-performing department. Correspondent Banking Management Remittance Operations Regulatory Compliance (AML/KYC) Risk Management Financial Reporting and Analysis Stakeholder Relationship Management Process Optimization Team Leadership and Development Vendor Management Negotiation Skills Strategic Planning Market and Regulatory Trend Analysis Bachelor’s degree in Finance, Business Administration, or a related field; Master’s degree preferred. Minimum of 8-10 years of progressive experience in correspondent banking, remittance services, or related financial services roles. Strong knowledge of international banking regulations, AML, KYC, and compliance frameworks. Proven experience in managing cross-functional teams and complex banking relationships. Demonstrated ability to lead operational risk management and process improvement initiatives. Excellent communication, negotiation, and stakeholder management skills. Professional certifications such as CAMS, ACAMS, or equivalent are highly desirable.