Operations process setup and new product launch for Remittance Business

Project status
Project start date
As soon as possible
Project posted
26 Sep 2018 12:15
Project duration (approx.)
60 Days
Budget (approx.)
US$1000 / day
Level of Experience
Financial Services
Area of expertise
Business Process Optimisation
Consultant location
Saudi Arabia
English (Essential) , Arabic (Nice to have)

Objectives and Key Deliverables

We are looking for an expert in remittance, to assist our client in enhancing its remittance business by introducing a new remittance technology.

It is expected that the remittance expert will be supporting the BANK management in achieving their objectives in the remittance space and the activities would include, but not limited to, the below:
- Review BANK Remittance Strategy and business case and provide views on the strategy, its objectives, assumptions and roadmap

- Support BANK in revamping the remittance department by defining the department roles, responsibilities, objectives and relationship with other departments

- Review all current/existing processes/procedures related to remittance business (e.g. Fx management, setting margin, reporting to management and regulator, screening process, exceptional cases handling (e.g. refund/rejected Txn) and suggest the required changes with very clear and solid justifications for management approval

- Review/suggest the required governance to run a remittance business within BANK smoothly and seamlessly. This would include any reporting structures needed.

- Review the value chain of responsibilities within BANK and suggest the required changes, if needed. This include the customer on-boarding, customer servicing, channel facing ..etc

- Review the suggested customer servicing model for contact center and provide suggestions on areas of enhancements, if any (including outsourcing)

- Support BANK in completing the internal documentations such as the due diligence service document.

- Provide weekly progress update on the tasks assigned with progress.

- Being heavily engaged with BANK in the remittance project and provide all required support in this space to launch the new service successfully

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