DI&SD is part of SBP’s Digital Financial Services Group (DFSG) and is primarily responsible for broadening and deepening the country’s Digital Financial Services through innovative solutions leveraging cutting-edge technology such as RTGS and Instant/Faster Payment System. The department collaborates with foreign and domestic stakeholders to identify and implement essential projects targeted at digitising Pakistan’s financial environment in accordance with global trends and practices. More information on DFSG may be found at https://www.sbp.org.pk/dfs/index.html.
The position of Director DI&SD will report to the Executive Director of DFSG, SBP.
Key Responsibilities of a job seeker
- Develop the department’s strategic direction, and then review and align the department’s functions with that direction.
- Provide effective leadership, coaching, and mentoring to the DI&SD team with a strategic perspective in order to direct team efforts towards the attainment of the SBP’s policy and strategy objectives on payment landscape digitalization.
- Examine and implement ideas, programmes, and efforts to dramatically increase access to digital financial services, especially using innovative technology.
- Supervise the development of comprehensive Payments and Settlement infrastructure in Pakistan in accordance with worldwide best practices and new and upcoming innovative and disruptive technologies.
- To ensure successful completion, supervise the successful implementation of RAAST, Pakistan’s Instant Payment System, and related requirements/enhancements through all phases of the project management lifecycle. Similarly, ensure that other related projects, such as the huge value transfer system and the centralised security management system, are completed on schedule.
- Identify and im
- Coordinate and cooperate with other Central Banks/Monetary Authorities, international multilateral organisations, global multinational organisations, associations, and other organisations for information exchange, learning, identifying global trends, and increasing cross-border coordination.
- Set up innovation offices within SBP with the goal of identifying and adopting emerging technology trends and cooperating with external stakeholders such as incubators, universities, and other innovation intermediaries to promote and implement digital financial services in Pakistan.
- Develop the department’s Business Plan, Manpower Plan, and Budget, as well as oversee the timely execution of developmental projects.
- Create research papers and concept notes for SBP’s senior management, along with recommendations.
- Implement projects to digitise all parts of the economy, including but not limited to retail and wholesale payments, through the use of creative and disruptive technology. Central Bank Digital Currency (CBDC), Faster Payments, the formation of regulatory and technical Sandboxes and Innovation offices, digital / shared KYC, artificial intelligence and machine learning techniques, and so on are examples of such projects.
- Ensure the smooth and continuous operation of Pakistan’s critical payments infrastructure, including the Real Time Gross Settlement System (PRISM) and the Instant Payment System (Raast), as well as the settlement of ancillary clearing and settlement systems, while ensuring effective liquidity management and the implementation of mechanisms and procedures for the resolution of participating banks’ settlement issues.
- Effectively implement international regulatory and supervisory principles and standards, such as the Principles for Financial Markets Infrastructure (PFMIs), and perform frequent self-assessments of SBP-owned and managed digital payment systems.
- Promote the Roshan Digital Account Scheme to ensure a continuous increase in the number of accounts and funds received, as well as to identify ways to improve product offerings, such as facilitating inward fund transfers, addressing customer complaints, and improving the overall value proposition.
Eligibility Criteria
Education
Master’s or Bachelor’s degree (with a minimum of 16 years of education) in Engineering (Computer, Software, Systems, Telecommunication or similar discipline), Computer Science, Mathematics, Statistics, Economics, Finance, or Business Administration from an HEC recognized university or a reputable foreign university.
Candidates with in-depth knowledge of national and international legal and regulatory frameworks and/or relevant certifications in the area of digital financial services will be preferred.
Age
Maximum 50 years (as on last date of application submission and as per CNIC). Relaxation may be allowed in case of additional relevant experience and certifications.
Experience
At least 15 years of experience in the area of Digital Financial Services with a minimum of 4 years in senior management position (as on last date of application submission).
Candidates with the following work experiences will be given preference:
- Working in the field of digital financial services with a foreign Central Bank or Monetary Authority, an international multilateral organisation, or a worldwide multinational corporation.
- Working on large-scale/national-scale digital payment/financial-services infrastructure projects.
- Legal and regulatory frameworks for digital financial services are being developed.
- Extensive knowledge of cross-border payments and settlements.
Link to Apply: https://career.sbp.org.pk/verification?pid=116
Application Procedure
Interested candidates who match the above-mentioned eligibility conditions should apply online at https://www.sbp.org.pk/careers/status.asp Surface mail should be addressed to Deputy Director, Resource Management, HRD, State Bank of Pakistan, 10th Floor, SBP Main Building, I.I. Chundrigar Road, Karachi, with the applied position stated on the top right of the envelope. The application deadline is September 18, 2023. Applications that do not meet the standards outlined in the advertising will be rejected. Only those who have been shortlisted will be contacted.
We are an Equal Opportunity Employer. Females, candidates from minorities, and transgender persons are encouraged to apply.
Any candidate who misinforms or fails to provide the required information or documents does not meet the specified criteria as per the advertisement, tries to influence the recruitment process in any way, tries to obtain support for his/her candidature through inappropriate means, or tampers with evidence of his/her age, educational and other certificates, will be disqualified from the current and any future recruitment process at the Bank; even if the candidate is otherwise qualified.
