Jobgether
Target2 Process Owner
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Job Opportunity: Target2 Process Owner
This position is listed on behalf of a partner company, who manages all applications and next steps. Our partner is looking for a Target2 Process Owner based in United Kingdom.
This is a senior, hands-on payment operations role responsible for establishing and owning the operational model for direct TARGET2 participation.
You will lead the transition from indirect participation to a fully controlled direct operating environment, covering processes, infrastructure, controls, and contingency planning.
The role spans the complete lifecycle from process design and UAT through BIC-by-BIC migration and stable business-as-usual operations.
You will work at the intersection of Payment Operations, Product, Engineering, Finance, Compliance, Risk, and external financial infrastructure partners.
A major part of the role involves direct coordination with regulatory and scheme stakeholders, including central banking and payment infrastructure organizations.
You will play a critical role in protecting payment continuity, customer experience, regulatory readiness, and operational resilience.
This opportunity is ideal for an experienced payments professional who combines strong operational judgment with deep knowledge of SEPA, TARGET Services, and payment infrastructure.
Accountabilities
- Own the end-to-end operational setup for direct TARGET2 participation, including process design, documentation, testing, migration, go-live readiness, and ongoing business-as-usual operations.
- Establish and maintain payment operations processes covering SCT and SCT Inst recalls, payment inquiries and investigations, pacs.028 status requests, rejects, returns, refunds, and exception handling.
- Own incoming and outgoing SWIFT enquiry processes, including MT199 and MT999 messages, RFIs, and relevant ISO 20022 messaging flows such as pacs, camt, and pain.
- Define and operate processes for incoming RTGS payments, including payment monitoring, unmatched or pending items, exception handling, returns, Escrow arrangements, and confirmation of payment receipt.
- Operate and maintain the T2 GUI and related U2A/A2A capabilities as a senior authorized user for payment tracking, returns, liquidity visibility, and manual or fallback actions.
- Maintain TARGET operational infrastructure, including CRDM reference data, BICs, routing, accounts, users, roles, certificates, four-eyes authorization matrices, and production segregation of duties.
- Lead the dual-route transition from indirect to direct participation, ensuring payments remain routable and traceable by BIC and payment path while defining criteria for retiring legacy dependencies.
- Own the Payment Operations interface with daily reconciliation across MCA, RTGS DCA, and TIPS DCA, escalating liquidity-related issues that could affect payment execution or customer outcomes.
- Redesign incident management and escalation procedures for direct participation, including operational detection, payment-impact assessment, DNB notifications, reporting, and evidence retention.
- Define and maintain Payment Operations procedures for severe TARGET disruptions and the Eurosystem contingency solution, including training and testing evidence.
- Coordinate directly with scheme and infrastructure stakeholders, central banking authorities, SWIFT/NSP providers, service providers, correspondent banks, and other financial institutions.
- Partner closely with Product and Engineering teams to test interfaces, identify operational and back-office requirements, and determine which processes should remain automated versus manual.
- Ensure every critical payment process has a clearly assigned owner, documented procedures, defined controls, escalation paths, fallback mechanisms, and successful UAT evidence.
- Drive a successful migration with no material customer impact and establish stable post-go-live operations without residual dependence on external sponsor-bank operational processes.
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Requirements
- Minimum 3+ years of experience in payment operations within a bank, Electronic Money Institution (EMI), Payment Service Provider (PSP), or similar financial services environment.
- Hands-on experience with SEPA payment schemes, particularly SCT and SCT Inst, and TARGET Services such as T2/RTGS and TIPS.
- Strong practical knowledge of payment investigations, recalls, returns, refunds, and exception-management workflows.
- Working knowledge of SWIFT and ISO 20022 messaging standards, including MT199, MT999, pacs, camt, and pain messages.
- Experience operating financial infrastructure interfaces and tools directly, ideally including T2 GUI, CRDM, reconciliation systems, liquidity-monitoring platforms, and U2A/A2A actions.
- Proven ability to design, document, and implement operational processes, including detailed SOPs, four-eyes controls, authorization matrices, escalation procedures, and audit-ready evidence.
- Experience coordinating with regulators, central banks, scheme operators, SWIFT/NSP providers, service providers, correspondent banks, and other external stakeholders.
- Ability to translate complex operational requirements into clear specifications for Product and Engineering teams and effectively challenge technical solutions when operational needs are not met.
- Senior-level judgment and independence, with the ability to own operational sign-offs, incident escalation, regulatory reporting decisions, and risk-based decisions.
- Familiarity with DNB/TARGET-NL requirements, the Instant Payments Regulation (IPR), and operational obligations applicable to EMI/PSD2 environments.
- Strong understanding of payment operations, reconciliation, liquidity touchpoints, operational controls, and payment infrastructure resilience.
- Excellent written and spoken English, with the ability to communicate clearly in regulatory, technical, and cross-border environments.
- Strong organizational, analytical, and problem-solving abilities, with a structured approach to managing complex transitions and operational risks.
- Experience with direct TARGET/RTGS/TIPS onboarding, sponsor-bank-to-direct-participation migration, or contingency and incident-management programs is a strong advantage.
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Benefits
- Competitive compensation aligned with experience, location, and the scope of the role.
- Opportunity to make a direct impact on a critical financial infrastructure transition and the evolution of a growing financial technology platform.
- Flexible remote or hybrid working arrangements across Europe.
- Opportunity to work from the Netherlands, Spain, Poland, or potentially under a freelance arrangement in other countries, preferably within the CEST or adjacent time zones.
- Stock options program designed to give team members an ownership stake in the company's growth.
- Opportunities for continuous professional and personal development.
- Supportive, modern, friendly, and environmentally conscious working culture.
- Work & Swim program offering the opportunity to spend a month working from a corporate apartment in Cyprus.
- International exposure through collaboration with regulators, payment schemes, banks, technology teams, and cross-functional stakeholders across Europe.
- Inclusive workplace committed to equal opportunity and welcoming people from diverse backgrounds and experiences.
How Jobgether Works
We use an AI-powered matching process to ensure your application is reviewed quickly, objectively, and fairly against the role's core requirements. Our system identifies the top-fitting candidates, and this shortlist is then shared directly with the hiring company. The final decision and next steps (interviews, assessments) are managed by their internal team.
We appreciate your interest and wish you the best!
Why Apply Through Jobgether?
Data Privacy Notice: By submitting your application, you acknowledge that Jobgether will process your personal data to evaluate your candidacy and share relevant information with the hiring employer. This processing is based on legitimate interest and pre-contractual measures under applicable data protection laws (including GDPR). You may exercise your rights (access, rectification, erasure, objection) at any time.
We may use artificial intelligence (AI) tools to support parts of the hiring process, such as reviewing applications, analyzing resumes, or assessing responses and identifying potential inconsistencies or verification signals in application materials based on available information. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed, please contact us.
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