Industry / Sector
Banking and Capital Markets
Enterprise IT Architecture
Job Description & Summary
PwC is the leading global professional services firm and acclaimed as one of the world’s leading employers and provider of technology transformational services.
the calibre of our teams; and the exceptional training and career development opportunities we provide.
There is significant market growth expected over the coming years in Financial Services payments transformation, driven by the following factors :
Traditional banks have been addressing complex and costly payment infrastructures, while challenger banks have been building new payment platforms.
In parallel, there are industry initiatives such as New Payments Architecture, RTGS re-platforming, Open Banking, ISO20022 messaging, Confirmation of Payee and regulatory tightening that are collectively transforming the payments landscape.
It is generally acknowledged that custom build’ payment platforms by incumbents is not a good strategy and that traditional payment platform replacement’ programmes destroy value.
Covid has accelerated the move away from cash through a shift to alternative payments channels, bringing digital capabilities front and centre.
Migration to digital banking just accelerated this shift by 3-4 years
Banks are now looking to transform using business led, cloud based ecosystem solutions for payments that can be configured, deployed and adapted quickly.
PwC has developed a unique and innovative set of assets, platforms and ecosystem partnerships to support our clients capitalising on that growth.
Working with our clients’ leadership teams, our payments specialists will lead the architectural design and solution components of highly complex, business critical payments environments that will increase resilience and enable and unlock new value streams within the client’s technology base.
They will have a wealth of experience of hands on delivery of multi-year payments technology delivery programmes at global, multinational clients or worked at tier 1 technology firms to implement their solutions to clients.
They have participated in large, multi-disciplinary teams which may include partner teams, across the full life-cycle of a project, practising agile delivery methods and utilising technologies such as ISO20022, digital wallets, advanced fraud detection, AML, .
They are able to provide diagnostic leadership on current architectures and be the technical and solution lead in senior client discussions in both proposal and delivery phases.
The core platform architect will bring a breadth of experience in architecting and delivering core banking transformation in financial services.
They will lead architectural designs by bringing deep understanding of the technology trends in financial services and several years of experience architecting and delivering cloud native, API enabled and data led architectures in the industry.
They will quickly become a trusted advisor for our clients in the area of core banking transformation and customer / products migration and be able to advise and reach consensus on architectural decisions and technology choices at senior executive level.
They set themselves apart in being able to develop solutions for both emerging and often cloud based technologies and client legacy systems in a way that delivers value to the client and enables the client to move to an agile technology estate.
They will work with partners to make appropriate software and vendor choices to support this plan and apply several best of breed technologies to create an overall solution.
Ultimately working with clients to grow revenue, remove complexity, scale globally, reduce costs and set our clients for success in the digital age.
Opportunity for working from home? (Yes)
Amount of time client based (70%+)
Opportunity for job sharing? (No)
Need to travel / overnight stays away from home (Yes)
Opportunity for flexible working (hours)? (Yes)
Typical amount of time PwC office based (20%)
The payments specialist will have a proven track record helping Banking & Capital Markets clients transform their payments capabilities by taking lead roles in developing solution and technical architectures as well as supporting the delivery of payment transformations by providing architecture oversight, solution design and leadership.
Furthermore, the ideal candidate will :
Have proven commercial experience as a payment systems specialist with a successful track record of designing and delivering complex payments projects including established and emerging technologies underpinned by cloud components and API, in one or more industries The candidate will have a good understanding of some or all of the following areas :
scheme operating rules; and cross border capabilities such as SEPA, TARGET2, SWIFT and RTP
Payment channels : Understanding of mobile and online payments, open banking channels
Payment lifecycle : Understanding of payment messaging, real time and deferred net settlements, exception processing (including failed payments and repairs), and reconciliations
Digital payments : Understanding of wallets, digital currencies, blockchain based payments, and central bank digital currencies
Card payments : Understanding of issuers, acquirers and card schemes, interchange, cardholder authentication,
Payment operations : Understanding of back office functions, including fraud, AML and sanctions operations, liquidity management,
gridlock management and commercial bank interfaces
Payment technologies : Understanding of payments switching, routing, use of cryptography, PIN operations, contact and contactless protocols
Emerging payment technologies : Understanding of emerging developments such as Open Banking, new payment rails, digital payments, new payment channels such as wallets, smart Point of Sale and ATMs, real time cross border, blockchain-enabled crypto payments, central bank digital currencies, data in payments and financial crime developments
Payment Fintechs : knowledge of Fintech niches offerings in the payments value chain