Head of Strategic Initiatives, Global Payments
StoneX Global Payments is the most profitable and technology driven business in the StoneX group, generating revenue of @ $130 Million with a growth rate of 10%+ a year on year. The future plan of the business, in addition to expanding its customer base among the Aid and Development organizations, Global and Regional Banks, is acquiring customers in the new frontier of Small to Medium size Corporates. We plan to achieve this through state-of-the-art digital offerings, smart onboarding and execution platform, streamlined and ultra-efficient operational processes and industry leading client service.
This ambitious program is dependent on technological advances and adoption of best-in-class operational practices. We are looking for an out of the box thinker who is backed by experience in working with non-bank payment processor with B2B background to lead our strategic innovation initiative that will help us achieve our goals in this complex program. In our view, innovation is not just doing things differently and doing things that no one has done before. We believe innovation must be backed with a purpose, a purpose of generating new revenue, saving cost, providing better service to our clients or simplifying and shortening the period taken to do a job.
This Strategic Innovation leader will review what we do, how we do it and what is the purpose behind it, will involve existing experts and understand the “why behind the what” . They will promote thought provoking discussions that will result in creative alternatives to our workflows and processes and will come up with optimized solutions for complex business problems.
The selected leader will have prior experience in a fintech payments firm or a highly automated and efficient cash management / foreign exchange division in a mid to large size bank. They will have exposure to end-to-end FX Payments product including customer initiation, customer integration, trade booking, settlement process, payment processing via SWIFT, ACH, RTGS, Instant and Faster payments, sanctions screening, transaction monitoring, credit risk management, bank account reconciliation, customer and bank investigations, position management, P&L calculations etc. They should be proficient in FX trades such as Spot, Forward, Window forward and Non-deliverable forward. Knowledge and expertise in current trends such as blockchain, crypto currencies, AI, digital marketing etc will be a plus.
The Head of Strategic Initiatives will report to the Global Head of Product and will be part of the leadership team for new product and business development. This position needs a thought leader who is ready to hands on work with ownership and accountability for the goals to achieve business success.
Responsible for projects and solution achieving SMART (specific, measurable, achievable, relevant and timebound) targets in following areas
Straight through processing
Reduction of manual activities
Mass and instant payment product development
Real time and quick Reconciliation
AI in payments processing, customer service
Automation in client service, operations – settlement/trade processing/investigation/reconciliation
Knowledge and Experience
Bachelors or master’s degree in business or finance
Extensive experience in following domains – international payments, FX based payments, FX settlement, reconciliation, ACH and other mass payment types, nostro account management and reconciliation, AI in payments
Should be proficient in SWIFT messaging, FIX protocol, ISO 20022 messages.
Should be proficient in FX trading and settlement including but not limited to Spot, Forwards, Window Forward, Swaps, Options, Non-Deliverable forwards
Proficiency in Excel, presentation tools, project and task management tools such as JIRA, Azure DevOps and supporting plug ins.
We are aware that some of the banking and financial experience and knowledge requirements are very diverse and span from banking to global markets. We are looking for candidates who certainly have cross business experience and knowledge and will consider candidates with most coverage in these areas.
Preferred Qualifications (Nice to Haves)
Experience in Payments product management
Reports to: Global Head of Product