Role Purpose:
* This role processes all administrative and operational payments related transactions, verifies and processes letters of credit, and maintains banking relationships for IDB. This role coordinates with other IDB departments/entities and external banks and financial institutions for timely processing of payments and maintenance of efficient banking relationships for IDB Group.
KEY ACCOUNTABILITIES & ACTIVITIES:
Operational Planning
* Participate in annual plan and budget preparation.
Policies & Procedures
* Update and maintain necessary documents regarding controls, procedures, and guidelines for handling payments.
* Assist in the development of overall systems and procedures for payments.
Payments Processing
* Process the various payments for the IDB Group ensuring correctness and completeness of documentation for effecting payments.
* Review and verify sources and application of funds to ensure proper and efficient processing of payments.
* Coordinate with Financial Control Department (FCD) and other entities to manage disbursements.
* Coordinate IDB payment arrangements with financial institutions.
* Monitor daily Treasury payment processing ensuring adherence to policies and required timelines.
* Maintain confidentiality of all payments related data being processed and disseminate only when required as per policies.
Banking Accounts Management
* Determine minimum balances and replenishment requirements in coordination with other IDB departments / entities.
* Handle all banking relationships with corresponding banks.
* Follow up on new standards/regulations governing international payments and banking relationships.
* Maintain database of banking relationships with all related details
Knowledge Sharing & Innovation
* Recommend improvements or changes when deemed necessary for greater efficiency.
* Provide guidance to concerned stakeholders on matters related to payments.
Reporting & Communication
* Generate periodic reports on payment activities.
* Respond to all enquiries on receipt of payments by beneficiaries in a timely manner and perform related follow up activities.
Job Details
| Date Posted: | 2016-05-16 |
| Job Location: | Jeddah , Saudi Arabia |
| Job Role: | Accounting/Banking/Finance |
| Company Industry: | Financial Services |
Preferred Candidate
| Career Level: | Mid Career |
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