Vice President - Toa Payoh

Our client is a leading financial institution in Singapore with regional presence. There is an exciting opportunity now to join the team as Vice President – Receipt & Payment.

The ideal candidate will ensure timely and accurate processing of payments and receipts in accordance with Monetary Authority of Singapore (MAS) regulations and Singapore Exchange (SGX) rules.

Key Responsibilities:

1. Oversee and manage all payment and receipt functions, including client fund settlements, trade transactions, and reconciliations while optimizing cash flow.
2. Ensure timely and accurate processing of funds related to securities transactions, margin payments, and brokerage operations, while adhering to risk management standards.
3. Maintain strict compliance with MAS, SGX, and AML/CFT regulations, ensuring all payment processes meet legal and financial requirements.
4. Liaise with local and international banks, SGX, and clearing houses to ensure smooth fund settlements and cash flow management.
5. Develop and implement robust internal controls to minimise financial risks and ensure compliance with accounting and auditing standards.
6. Supervise a team responsible for daily payment processing, bank reconciliations, and fund transfers.
7. Work closely with the Credit, Compliance, Treasury, and Operations teams to streamline processes and mitigate operational risks.
8. Handle escalations related to failed payments, transaction discrepancies, and client fund transfers.
9. Leverage financial technology and automation tools to enhance efficiency in payment processing and security.
10. Prepare and present reports to senior management, providing insights into fund movements, operational efficiencies, and potential areas for improvement.
11. Handle ad hoc projects as required, demonstrating flexibility and problem-solving skills.
12. Collaborate with cross-functional teams to support business objectives.

Requirements:

1. Bachelor’s/Master’s degree in Finance, Accounting, Business, or a related field.
2. 10+ years of experience in payment and receipt operations within a stock brokerage, financial institution, or securities firm in Singapore.
3. Strong knowledge of MAS, SGX, and international financial regulatory frameworks.
4. Expertise in banking operations, securities settlement, payment processing, and financial reconciliation.
5. Experience working with SGX’s CDP (Central Depository), FAST, MEPS+, and SWIFT payment systems.
6. Excellent analytical, leadership, and problem-solving skills.
7. Ability to manage high-value transactions with accuracy and efficiency.
8. Strong communication skills for effective coordination with internal and external stakeholders.
9. Familiarity with financial technology and automation solutions for payment processing.

We encourage interested qualified candidates to email an updated resume in word doc format indicating current and expected compensation to enquiry@targetpartners.com.sg.

We regret that only shortlisted candidates will be notified.

[Florence Teo, R1105626]