At a Glance
- Tasks: Support payment processing and ensure compliance with banking operations.
- Company: Join a leading financial institution with a focus on innovation.
- Benefits: Enjoy 25 days leave, private medical insurance, and hybrid working options.
- Other info: Opportunity for training, development, and free gym access.
- Why this job: Gain hands-on experience in banking operations and develop your skills in a dynamic environment.
- Qualifications: Bachelor’s degree in relevant field or nearing completion; strong organisational skills required.
The predicted salary is between 36000 - 60000 £ per year.
Reporting to the Operations Manager, the role of Banking Operations Executive is to support the Operations Department in managing all payment processing within the given SLA, including Bacs processing and scheme-related activities, and assisting with the production and validation of test plans. For all payments and settlements, ensure that all risk, controls, and compliance processes are complied with, including prompt and effective risk escalation and resolution, and that bank operations escalation policies are implemented and adhered to. Additionally, liaising with 3rd party providers and maintaining existing relationships with UK payment schemes, including active scheme management and compliance with Bacs scheme rules and standards.
MAIN DUTIES
Key responsibilities include but are not limited to:
- Responsible to support day-to-day Operations to ensure payments, including Bacs Direct Credits and Direct Debits, are processed within agreed SLAs.
- Support and maintain operational oversight of Bacs scheme obligations, ensuring adherence to scheme rules, operational calendars, and submission deadlines.
- Ensure the operational reports required are sent as evidence of success at the end of the day.
- Assisting on any ad hoc payments tasks when required.
- Assist in developing procedures and controls for the Payments team, particularly in relation to Bacs payment processing and scheme compliance.
- Liaise with relevant stakeholders and third-party providers on Bacs file submissions, exceptions, rejections, and settlement queries.
- Assist other areas of Operations as and when required.
- Support in all departmental UAT testing, including test scenarios for Bacs payment workflows and scheme rule changes.
- Support team members to ensure all allocated work is completed in a timely manner with high standards being maintained.
Qualifications
- Bachelor’s degree in Banking, Finance, Economics, or a related field (or in final stages of completion).
- Strong organisational skills with the ability to manage multiple tasks and priorities.
- Interest in developing knowledge of UK payment systems, including Bacs, CHAPS, and SWIFT.
- Basic understanding of or willingness to learn Bacs payment processing and scheme governance.
- Awareness of ISO20022 MX and ISO8583 messaging standards is advantageous.
- Familiarity with financial messaging and settlement workflows is a plus.
- Excellent written and verbal communication skills.
- A proactive, detail-oriented approach and a willingness to learn in a fast-paced environment.
Benefits
- 25 days annual leave entitlement plus 8 bank holidays
- Pension scheme, 4% employer contribution
- Private Medical Insurance
- 60-40 Hybrid working after successful probation period
- Training and development
- Free gym access in the building
Banking Operations Executive in City of London employer: iFAST Global Bank Ltd
As a Banking Operations Executive, you will thrive in a dynamic and supportive work environment that prioritises employee growth and development. With a strong focus on compliance and operational excellence, our company offers comprehensive benefits including a generous annual leave policy, private medical insurance, and hybrid working options, all designed to foster a healthy work-life balance. Join us to be part of a collaborative team that values your contributions and encourages continuous learning in the evolving landscape of UK payment systems.
StudySmarter Expert Advice🤫
We think this is how you could land Banking Operations Executive in City of London
✨Tip Number 1
Network like a pro! Reach out to people in the banking and finance sector, especially those who work with Bacs or payment processing. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of UK payment systems. Make sure you can talk confidently about Bacs, CHAPS, and SWIFT. We want you to impress them with your understanding of the industry!
✨Tip Number 3
Don’t forget to follow up after interviews! A quick thank-you email can keep you fresh in their minds and show that you're genuinely interested in the role. Plus, it’s a great chance to reiterate why you’re the perfect fit.
✨Tip Number 4
Apply through our website for the best chance at landing that Banking Operations Executive role. We love seeing applications directly from our site, and it shows you’re keen on joining our team!
We think you need these skills to ace Banking Operations Executive in City of London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Banking Operations Executive role. Highlight your relevant experience with payment processing and any knowledge of Bacs or UK payment systems. We want to see how your skills match what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about banking operations and how you can contribute to our team. Keep it concise but engaging – we love a good story!
Show Off Your Attention to Detail:In banking operations, attention to detail is key. Make sure your application is free from typos and errors. We appreciate candidates who take the time to double-check their work – it shows you care!
Apply Through Our Website:We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates. Plus, it’s super easy!
How to prepare for a job interview at iFAST Global Bank Ltd
✨Know Your Payment Systems
Make sure you brush up on your knowledge of UK payment systems, especially Bacs, CHAPS, and SWIFT. Being able to discuss these systems confidently will show that you're genuinely interested in the role and understand the key responsibilities.
✨Demonstrate Organisational Skills
Prepare examples from your past experiences where you've successfully managed multiple tasks or priorities. This will help illustrate your strong organisational skills, which are crucial for a Banking Operations Executive.
✨Show Your Proactive Side
Think of instances where you've taken initiative in previous roles. Whether it was developing procedures or resolving issues, showcasing your proactive approach will resonate well with the interviewers.
✨Communicate Clearly
Practice articulating your thoughts clearly and concisely. Since excellent written and verbal communication skills are essential for this role, being able to express yourself effectively during the interview will make a great impression.
