Share this Job
Apply now

Apply for Job

Head of Banking

Sector:  NEOM Authority
Division:  NEOM Business

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: 

Within NEOM’s Financial Services Sector (“FSS”), the Banking division represents one of its key strategic pillars. FSS aims for a well-tailored banking offering, regulations, and a platform as an off-shore provider. This will be in line with the strategy and vision of the FSS by having progressive rules and regulations that allows financial inclusion and application of best practices.


The Head is responsible for maintaining and adopting a strategy while constantly updating it with the latest trends in the world while maintaining the vision of the FSS strategy and executing a roadmap along the technical team to design, build, deploy, and continuously innovate the division and feed the banking requirements to the support teams. This role will aim to actively create an open, competitive, healthy, ecosystem within the regulatory environment in which Financial Institutions & ecosystem players will thrive. The Head will have to develop and lead the division to promote product knowledge and financial viability in a robust efficient way.



Department Building and Management

  • Lead the development and building of NEOM’s Licensing, Products Authorization, Supervision departments, regulatory requirements, liquidity requirements, lending requirements, capital requirements, etc. including hiring, development of internal policies, processes and procedures, building of institutional knowledge and technology resources;
  • Manage a team of 2+ possible FTEs and outsourced service providers covering the Banking sector (1) policies & procedures, (2) licensing, (3) products authorization and (4) supervision functions;
  • Oversee the implementation of policies and procedures related to Licensing, Products Authorization (for high risk, innovative products) and Supervision;
  • Liaise with NEOM’s internal departments and shared services (e.g., with HR on recruitment, Finance on budgeting).
  • Own/update when needed the Banking strategy development & execution to achieve the vision for NEOM Financial Services Sector. As well as developing the division of securities, funds and trusts.
  • Build a compelling business case to drive value for end Financial Institutions, Fintechs & financial ecosystem players based on the needs of the division.


  • Receive and review all banks licensing requests and notifications provided by regulated institutions;
  • Liaise and coordinate with other departments when assessing licensing applications;
  • Ensure accuracy of license amendments
  • Communicate banks licensing decisions and recommendations along with the reasoning behind the decision;
  • Provide frequent reports on licensing approvals, amendments, or other notifications.

Prudential Risks Supervision

  • Oversee the development and implementation of NEOM’s macro-prudential supervisory activities including analyzing and monitoring the health, soundness, and vulnerabilities of the financial system;
  • Gather, organize and analyze data for authorized firms and monitor, assess and identify trends of the evolution of the risks of authorized firms from a macro-prudential perspective, and recommend and implement appropriate actions
  • Participate in the supervision of the prudential risks for financial services providers operating in NEOM (asset managers, commercial and investment bank, brokers and dealers, payment providers, insurers, etc.);
  • Oversee the assessment of the prudential regulatory frameworks and monitor the prudential regulatory developments;
  • Lead and/or participate in thematic and event driven reviews of identified prudential risks;
  • Prepare reports, policies and procedures for the division and have proper guidelines and protocols.




Knowledge, Skills and Experience:


  • Master’s degree in a relevant field such as Finance, Accounting, Risk Management;
  • Professional qualifications in finance, risk management, quantitative analysis, etc. such as CFA, FRM, PRM, etc;
  • At least 20 years of recent regulatory experience with a broadly equivalent financial services regulator with financial/prudential risks background;
  • Strong expertise in both macro-prudential supervision and micro-prudential supervision;
  • Knowledge in off-shore banking in international markets as well as exposure to different regulatory regimes;
  • Experience in the development and implementation of regulatory standards and policy analysis;
  • Experience in dealing with financial services regulators, standard setters and members of Board of Directors and senior executives;
  • Influential skills and ability to lead meetings and deliver difficult messages, when necessary;
  • Excellent communication and presentation skills, with proven ability to address senior executives;
  • Excellent command of English, both written and verbal.


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


  • 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.


Apply now

Apply for Job