1. Company description

Netbank is a start-up fintech led bank, focused on the under-served. Its model is to:

• Partner with Fintechs, banks and non-bank lenders, who have existing client networks

• Allow these partners to sign-up clients, for an origination fee, booked on Netbank’s balance sheet. Netbank would provide:

  • Loans to clients, so the partners can grow without raising additional capital

  • Deposit accounts for clients, serviced by the partner (on a white-label basis)

  • Technology services to the partners, allowing them more efficient processing and better client satisfaction

• Provide payment services to domestic and international partners

Netbank will initially operate in the Philippines, but the business model is applicable across multiple geographies. Netbank launched in Q1 2020.

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2. Responsibilities

Overall: The Head of Accounts and Payments, Sales and Onboarding will be responsible for identifying clients needing specialized accounts and payment processes. These will include:

• International payment companies

• International corporate clients

• Domestic payment companies, including crypto-exchanges and remittance companies

The services that Netbank will offer will include:

• Domestic disbursement via PesoNet, Instapay and QR payments

• Domestic collection, receiving funds from PesoNet, Instapay and over-the-counter payments

• International settlement, initially via swift, but in future via international settlement accounts

The position’s responsibilities will be:

• Update commercialization approach for payment clients

  • Define CSFs, sales approaches, targets, sales teams, etc.

• Identify international payment and collection partners

  • Review the market, seeking

    • International payment companies who are looking to make payments into the Philippines

      • SME payments

      • eCommerce

      • Payroll companies

      • Gaming

    • Domestic companies seeking specialist payment solutions

      • Payment gateways

      • eCommerce providers

      • Crypto exchanges, etc.

  • Understand needs of potential clients

    • Payment terms

    • Turn-around times

    • Reporting requirements, etc.

  • Conduct B2B marketing initiatives

    • Target clients

    • Create marketing material, videos, etc.

    • Define sales plans

    • Lead sales processes

  • Negotiate terms

    • Understand client needs, priorities, price sensitivity

    • Propose commercial offers

    • Adjust based on client feedback

• Ensure compliance with Filipino regulation

  • Be the internal expert on regulation regarding opening of non-resident accounts, international payments, foreign exchange controls, etc.

  • Write policies on payments, non-resident accounts, international payments, foreign exchange controls, etc.

  • Explain requirements to clients in a simple and understandable manner

  • Ensure compliance with all regulation

  • … while also ensuring we do not create undue difficulties for clients

• Lead team to identify international corporate clients and payment companies, as scale grows

• Lead a team to on-board clients

  • Coordinate with KYC teams for on-boarding and risk reviews

  • Manage relationship through on-boarding of clients

  • Oversee implementation manager responsible for

    • technical implementation

    • integration with client systems

    • setting up of billing systems, etc.

• Maintain client relationships

  • Conduct regular reviews of clients’ business and needs

  • Understand clients’ future needs, propose new products

• Product development

  • Translate client needs into product development priorities

  • Manage relationships with providers, partners, etc.

  • Define product roadmap

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3. Metrics to monitor

• Number of clients on-boarded

• Total fee revenue from clients

• No exceptions / issues raised in BSP examinations

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4. Required skills and qualifications

This position requires expertise in business development / communications with local and international partners (payment companies, corporates, partners). The position also requires expertise in regulation and policy development. Immediate focus is on identifying clients and bringing them to market. The position holder will need expertise in:

• Design of payment flows

• Sales and customer contact, especially with international payment companies

• Commercial negotiation

• Regulation, especially in non-resident accounts, international payments, foreign exchange controls, etc.

• Product development within international payments, foreign exchange, etc.  

• An ability to work professionally and effectively with customers to capture and fully define requirements.

• Empathy to understand client needs and creativity to translate them into product designs

• Ability to prioritize work, operate independently, manage competing responsibilities

• Strong project management experience

 

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5. Initial tasks

• Map the market of international payment companies

• Create marketing material for these companies

• Complete assessment of partnerships in international settlement accounts, identify roadmap to promote

• Complete comparison of pricing structures offered by competitors

Define policies and forms required to on-board clients.