Target2 Process Owner

This is a fully remote position, open to applicants in Netherlands, +2 more countries.

📋 Description

• Take ownership of the operational setup for TARGET2 direct participation from start to finish.

• Create and document the operating model prior to the go-live phase.

• Validate processes during the end-to-end User Acceptance Testing (UAT) in August.

• Transition BIC by BIC while maintaining business-as-usual operations.

• Manage incoming and outgoing SCT Inst recalls, including alert/customer-consent flows and handling full or partial refunds.

• Automate and support inquiries related to SCT/SCT Inst, investigations, and pacs.028 payment-status requests.

• Oversee and automate SWIFT inquiry handling, including MT199, MT999, RFIs, and ISO 20022 pacs, camt, and pain flows.

• Monitor inbound RTGS payments, address exceptions and unmatched or pending items, manage returns, and set up Escrow infrastructure.

• Maintain visibility on rejects, returns, refunds, back-office operations, codes, and alerts for abnormal exceptions.

• Operate the T2 GUI/dashboard through U2A and A2A for tracking payments, returns, liquidity visibility, and fallback/manual actions.

• Manage CRDM reference data, TARGET access, four-eyes authorization, production segregation of duties, and manual versus automated operations.

• Lead the migration from indirect to direct participation and establish retirement criteria for BNPP-dependent steps.

• Oversee Payment Operations interfaces related to reconciliation across MCA, RTGS DCA, and TIPS DCA.

• Redesign incident management and escalation paths for direct participation.

• Manage DNB notifications, reporting, and evidence retention.

• Define responsibilities for Payment Operations regarding ECONS II contingency, including training and test evidence.

• Coordinate with the T2 scheme/Eurosystem, DNB, SWIFT/NSP, FIS, correspondent banks, and BNP Paribas.

• Collaborate with Product and Engineering teams to test interfaces, identify back-office development needs, and clarify automated versus manual behaviors.

• Work alongside reconciliation teams on liquidity management and operational processes.

• Establish documented ownership, procedures, controls, escalation paths, fallback processes, and UAT evidence.

• Ensure migration occurs without impacting customer experience, maintaining stable operations post-go-live without residual BNPP operational dependencies.

⛳️ Requirements

• At least 3+ years of experience in payment operations within a bank, EMI, or PSP.

• Practical experience with SEPA schemes, including SCT and SCT Inst.

• Hands-on experience with TARGET Services, specifically T2/RTGS and TIPS direct connectivity.

• In-depth knowledge of payment investigations, recalls, and returns/refunds workflows.

• Proficient understanding of SWIFT and ISO 20022 messaging, including MT199, MT999, pacs, camt, and pain.

• Experience operating T2 GUI, CRDM, reconciliation, and liquidity-monitoring tools through U2A/A2A actions.

• Ability to create and document Standard Operating Procedures (SOPs), four-eyes controls, authorization matrices, and audit-quality evidence.

• Proven experience in coordinating with regulators, scheme operators, service providers, correspondent banks, and cross-functional teams.

• Capability to independently manage sign-offs, incident escalation, and regulatory reporting decisions.

• Familiarity with DNB/TARGET-NL conditions, the Instant Payments Regulation (IPR), and EMI/PSD2 operational obligations.

• Professional proficiency in English, both written and spoken.

• Experience with direct TARGET/RTGS/TIPS onboarding or migration from sponsor-bank to direct participation is a plus.

• Previous experience in establishing incident management and ECONS II contingency processes is also a plus.

🏝️ Benefits

• Access to continuous personal and professional development resources and opportunities.

• Flexibility to travel and the option to work remotely or in a hybrid model across Europe.

• Stock Options Program available for every team member.

• A modern, friendly, and eco-conscious corporate culture.

• Ongoing support and care for employees.

• Work & Swim Program: spend one month in a corporate apartment in Cyprus.

• Commitment to equal opportunity and diversity in the workplace.