Assistant Manager – Funds Transfer

Summary of Role

The Assistant Manager Funds Transfer is responsible for supervising and controlling the day-to-day Funds Transfer and Payments operations, ensuring accurate, timely and compliant processing across relevant payment systems. The role provides operational oversight over transaction authorization, reconciliation, exception management, risk and control activities, staff performance and stakeholder support. It also contributes to process improvement, automation, straight-through processing and operational resilience while supporting the Manager Funds Transfer in maintaining a secure, efficient and scalable Payments function.

• Daily Operations & Processing Control
  • Supervise the day-to-day operations of the Funds Transfer and Payments function and ensure transactions are processed accurately within approved turnaround and cut-off times.
  • Ensure all transactions requiring authorization are properly reviewed and authorized before End of Day (EOD).
  • Review daily transactions and operational reports to identify errors, exceptions, unusual transactions and potential control weaknesses.
  • Ensure proper verification and adherence to approved procedures before transactions are processed or authorized.
  • Monitor pending, rejected, returned and exceptional transactions and ensure timely resolution.
  • Ensure adequate operational coverage during staff shortages, peak periods and critical situations.
  • Escalate significant operational issues to the Manager – Funds Transfer / Head of Payment Unit in a timely manner.
• Reconciliation & Financial Control
  • Ensure daily reconciliation of suspense accounts and monitor Nostro outstanding payments.
  • Ensure reconciliation differences and outstanding items are investigated, supported by appropriate evidence and resolved within agreed timelines.
  • Immediately escalate outstanding or unexplained amounts to the Manager – Funds Transfer / Head of Payment Unit.
  • Maintain effective controls over suspense accounts and investigate and escalate negative or unusual movements.
  • Ensure all reconciliation and control activities are properly documented and supporting evidence is maintained.
• Risk, Compliance & Governance
  • Ensure all Funds Transfer activities are performed in accordance with applicable Central Bank of Oman regulations, internal policies, approved procedures and risk requirements.
  • Maintain effective maker-checker and segregation-of-duties controls.
  • Identify operational risks, control gaps and recurring issues and recommend appropriate corrective actions.
  • Ensure operational incidents and errors are investigated, documented, reported and followed through to closure.
  • Support Compliance, Risk, Internal Audit and External Audit requirements and provide accurate information within agreed timelines.
  • Ensure audit findings and control weaknesses relating to the unit are addressed and closed within agreed timelines.
• Process Improvement & Automation
  • Identify opportunities to improve processes, reduce manual intervention, enhance straight-through processing levels and shorten turnaround times.
  • Actively support automation, digitalization and system enhancement initiatives within the Payments function.
  • Analyze recurring operational issues with relevant stakeholders and implement sustainable solutions rather than manual workarounds.
  • Ensure procedures are reviewed at least annually and whenever significant process, system or regulatory changes occur.
  • Maintain proper documentation of process changes and ensure staff are adequately informed and trained.
• Stakeholder & Customer Support
  • Coordinate with branches, Retail Credit, Risk, Account Services, Corporate and Business Banking, IT, Compliance and other relevant departments to resolve payment-related matters.
  • Provide timely operational support and guidance to branches and business units.
  • Investigate and resolve customer complaints relating to payment transactions within agreed timelines.
  • Liaise with other banks, relevant authorities and service providers, where required, to resolve payment-related issues.
  • Ensure escalated cases are properly tracked through to final resolution.
• People Management & Development
  • Supervise and provide day-to-day guidance to staff within the assigned area.
  • Monitor staff productivity, work quality, attendance and adherence to operational procedures.
  • Ensure staff clearly understand their responsibilities, required controls and service expectations.
  • Coach and develop team members and identify training needs to strengthen technical and operational capability.
  • Promote teamwork, accountability and a positive professional working environment.
  • Support succession planning and develop potential future team leaders and supervisors.
• Reporting & Management Information
  • Ensure accurate and timely submission of daily, weekly and monthly operational reports.
  • Monitor transaction volumes, turnaround time, straight-through processing levels, rejected and returned transactions, reconciliation outstanding items, complaints and operational incidents.
  • Analyze trends and…