Tax Free FMI Policy and Standards Advisor-Payments


LOCATION: International

Tax Free FMI Policy and Standards Advisor - Payments

Location: Saudi Arabia

Salary: Neg DOE + bens


Our client has key roles as owner, operator and regulator of the payment systems in the Kingdom of Saudi Arabia (KSA).

They are accountable for the smooth functioning of payment systems in the Kingdom, while also contributing to the development of other FMI in KSA with a focus on financial stability.

Due to the level of on-going and planned strategic change in the FMI space in KSA, our client wishes to recruit a Payment Systems (FMI) Advisor to support the diverse range of activities within the Payment Systems Policy and Oversight Division (part of our client's Supervision Deputyship).

Our client's FMI Policies and Standards Advisor is expected to support the Payment Systems Policy and Oversight across the broad range of relevant topics relating to FMI under our client's remit.

The role also includes a significant responsibility for the mentoring and development of junior talent in the Division, where knowledge transfer is seen as a pre-requisite to the engagement and development of team members in the Division.


A competitive remuneration package (including relevant benefits) will be based on the successful candidate’s experience and track record in FMI related knowledge across the various dimensions of Policy, Oversight, Operations, Business, IT, Change Management and etc.


Role & Responsibilities:

Key responsibilities will include (but are not limited to) the following:

  1)  Support the development and growth of the Payment Systems Policy and Oversight in areas such as;

  1. Work Organisation and Planning
  2. Policy Development Processes
  3. Contribution to policy stream of relevant FMI Change Programmes
  4. Oversee Compliance with the relevant international standards

  2)  Assist in the development of the Payment Systems Policy Framework for our client to ensure a robust and PFMI compliance FMI policy foundation in KSA regarding matters such as e.g.;

  1. Implementation of FMI related international standards( BIS – CPMI, IOSCO, FSB )
  2. FMI participant requirements
  3. Non-Bank Payment Service Providers requirements
  4. Fintech related developments
  5. Provide consultancy to the FMI Oversight Division in the assessment of compliance with the Principles for Financial Market Infrastructures (PFMI)
  6. Contribute to the preparations for BIS ( CPMI-IMSG) Level 2 and 3 Assessments
  7. Assist in the research, preparation and completion of annual payment systems oversight reports

  3)  Contribute to the design, development and implementation of the policy and standards roadmap for the Division, in alignment with relevant international obligations and strategic priorities

  4)  Prepare drafts of relevant policies, rules or regulations as part of the roadmap delivery

  5)  Support alignment of all policy and standard development efforts with our client's key strategic change programmes such as (but not limited to):

  1. Regional Payment System Development
  2. Clearing and Settlement FMI Development (CCP related)
  3. RTGS and ACH developments
  4. Organisational Change developments in the FMI landscape

  6)  Assist the Payment Policy PFMI Business Lead through supporting the various activity streams within the PFMI Compliance Implementation Programme

  7)  Provide subject matter expertise on the various topics arising from a range of strategic developments including but not limited to:

  1. FMI Legal Framework Development
  2. Payment Service Providers Regulation (including non-banks)
  3. Risk management research arising from FMI developments across each risk type such as Operational, Credit, Liquidity etc.
  4. FMI Oversight Standards and Practices

  8)  Assist in the completion of research / report requirements issued from the relevant international and regulatory bodies

  9)  Engage with the relevant functions where needed to assist knowledge transfer and awareness of the key issues impacting PFMI compliance

10)  Provide mentorship, support and development of team members in the FMI Policy and Standards arena

11)  Identify issues that need special awareness programmes and arrange appropriate training for staff as required

12)  Other related tasks as they arise and as agreed between our client and the nominated consultant.


Candidate Requirements & Qualifications:


Financial Services, Financial Market Infrastructures, Payment Systems Expertise, In-depth knowledge and experience of PFMI compliance requirements, Appreciation of Operations, Risk, Legal, and IT functions as they relate to Payment Systems.

The successful candidate will be required to demonstrate the following:

  1. 10+ years of relevant experience, including extensive knowledge of the development of progressive payment policy frameworks
  2. A thorough understanding of all aspects of payment systems, including international policies, standards and regulations
  3. Proven experience and track record in FMI policy development work in either Commercial or Central Bank environments
  4. A very good knowledge of global trends in the payments area and the relevant international standards governing payment system development (BIS, World Bank, IMF)
  5. A strong knowledge of Securities Settlement processes and linkages to payment systems, including the inter-dependencies between FMIs such as Central Counterparties (CCP), Central Securities Depositories (CSD)
  6. Relevant experience in contributing to the training and up-skilling of team members, and proven track record for mentoring and supporting the knowledge transfer process
  7. Strong leadership and change management skills with a proven ability to work flexibly and effectively as both a leader and team player.
  8. Strategic thinker with strong analytical skills, attention to detail, decisive capabilities, and proven commitment to successful delivery.
  9. Good communication skills, both oral and written with a proven capacity to prepare succinct and informative reports and presentations (primary language in use will be English while Arabic would be an advantage)
  10. Bachelors or Postgraduate Degree in a relevant field (e.g. Law, Finance, Economics).
  11. Comprehensive knowledge of Microsoft Office applications i.e. Excel, Word, PowerPoint. 


Paul Dooley,

Managing Director,

Firstaff Personnel Consultants,

85/86 Grafton Street,

Dublin 2, Ireland.

Email :

Phone :+353 1 6797766

Mobile : +353 86 252 9015

Web Page:

Skype : paulmalahide

linkedin :


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Consultant for this Job:

Paul Dooley

Managing Director