Position: Head of Banking

Reports to: Sector Head – Financial Services + Interim Neom Authority – Head of Business

Sector: Financial Services - NEOM Authority 
Job Location: Sharma, KSA

Role Purpose: 

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 *

1. 1. 1. 1. Banking
         2. Insurance
         3. Fintech and innovation
         4. Securities and investment funds
         5. Consumer and investor protection
         6. Compliance, risk, security, and resilience

KEY ACCOUNTABILITIES & ACTIVITIES:

1. 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

2. 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

3. 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

BACKGROUND, SKILLS & 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

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.