Target2 Process Owner

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

📋 Description

• Take ownership of the operational framework and complete lifecycle of Target2 direct participation processes and infrastructure.

• Design and document the operating model prior to go-live, ensuring validation during the end-to-end UAT in August.

• Oversee the BIC-by-BIC transition from indirect to direct participation while maintaining operations as business-as-usual.

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

• Automate and facilitate SCT/SCT Inst inquiries and investigations, including non-receipt inquiries and pacs.028 payment-status requests.

• Handle and automate SWIFT inquiry management, including MT199, MT999, RFIs, and relevant ISO 20022 flows.

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

• Uphold operational decision-making and customer-handling processes for rejects, returns, refunds, codes, alerts, and exceptions.

• Utilize the T2 GUI/dashboard directly through U2A and A2A for tracking payments, handling returns, ensuring liquidity visibility, and executing fallback/manual actions.

• Maintain CRDM reference data, TARGET access, a four-eyes authorization matrix, segregated production duties, and a manual vs. automated operating model.

• Oversee Payment Operations’ interface with daily reconciliation across MCA, RTGS DCA, and TIPS DCA; escalate issues related to liquidity in payments.

• Redesign paths for incident detection and escalation with DNB, FIS, and TARGET, and be responsible for payment-impact assessments.

• Manage DNB notifications, reporting, and evidence retention to comply with DNB readiness standards.

• Define Payment Operations’ role within the ECONS II contingency solution, including necessary training and test evidence.

• Coordinate with the T2 scheme/Eurosystem, DNB, SWIFT/NSP, FIS, correspondent banks, and BNP Paribas during the dual-run phase.

• Collaborate with Product and Engineering to test interfaces, identify back-office development requirements, and define automated versus manual processes.

• Establish clear documented procedures, ownership, escalation/fallback protocols, and UAT evidence for successful direct participation.

• Ensure stable T2 operations post-go-live with Finom-controlled investigation SLAs and eliminate residual BNPP operational dependencies.

⛳️ Requirements

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

• Direct experience with SEPA schemes, including SCT and SCT Inst, as well as TARGET Services including T2/RTGS and TIPS direct connectivity.

• In-depth understanding of payment investigations, recalls, returns/refunds workflows, and SWIFT/ISO 20022 messaging standards, including MT199, MT999, pacs, camt, and pain.

• Proven experience managing central financial-infrastructure interfaces, such as T2 GUI, CRDM, reconciliation, and liquidity-monitoring tools, including U2A/A2A actions.

• Capability to design and document operational processes, including SOPs, four-eyes controls, and authorization matrices that meet audit/regulatory standards.

• Experience in direct liaison with regulators or scheme operators, including central banks, Eurosystem, and SWIFT/NSP, as well as cross-functional teams.

• Sufficient seniority 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.

• Proficient in English, both written and spoken, for regulatory and cross-border coordination.

• Confidence in coordinating with DNB, Eurosystem, SWIFT/NSP, service providers, correspondent banks, Product, Engineering, Compliance, Risk, and Finance Ops.

• Previous experience with direct TARGET/RTGS/TIPS onboarding or transitioning from sponsor-bank to direct participation is a plus.

• 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 work remotely or in a hybrid model throughout Europe.

• Stock Options Program available to all team members.

• Ongoing support and care for employees.

• A modern, friendly, and environmentally conscious corporate culture.

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