Payments System Project Specialist

Responsibilities

The Payments System Project Specialist (PSP Specialist) will serve as the accountable project manager for the Central Bank's CBDC platform upgrade and offline CBDC payments projects. The role will deliver a CBDC that is fully interoperable with the new fast payments system (FPS), support platform integration into the Government's modernised payment systems within the targeted 12-month modernisation timeframe, working in close coordination with the separately managed FPS and Government projects. The specialist will also support any technical policy work development these projects require, consistent with the CPMI-IOSCO Principles for Financial Market Infrastructures (PFMI) and other applicable standards for digital payments.

• Serve as project manager for the CBDC platform upgrade and offline CBDC payments projects, accountable for scope, schedule, budget, vendors, risk and delivery.
• Scope and deliver the CBDC platform changes needed for interoperability at FPS go-live and the Government digitization programme, securing project management committee endorsement of requirements before implementation.
• Oversee vendor efforts to deliver the offline CBDC solution, with demonstrated interoperability against the FPS and secure reconciliation when devices reconnect.
• Scope, prioritise and track additional CBDC APIs for fintechs, financial institutions and payment service providers, including sandbox testing and developer onboarding.
• Draft recommended technical standards and codes for CBDC participants, and oversee development of technical manuals and documentation for participants, fintech developers and Central Bank staff.
• Maintain a coordinated project monitoring framework across the FPS, CBDC and Government payments committee structures, and recommend pre-emptive intervention to maintain satisfactory progress.
• Close each project by confirming benefits, handing over to operations and capturing lessons learned for the follow-on wallet and tools projects.

Qualifications

• Hold the Project Management Professional (PMP) certification or equivalent, plus a graduate-level qualification in economics, business, finance, or a related discipline.
• Have senior management experience and a track record as project manager of complex technology projects with demanding schedules, with the ability to coordinate activities across diverse stakeholder participants, deliver on milestones, and assume budgetary accountability.
• Possess expert knowledge of the Bahamas domestic payments system, and experience coordinating implementation across banks, credit unions, payment service providers and the Government.
• Exhibit working knowledge of established international payment standards, including ISO20022 and the Principles of Financial Markets Infrastructures (PFMI).
• Expert understanding of fast payments system design concepts, and in-depth understanding and experience with CBDCs, including security and design concepts involving offline payments.
• Demonstrate the ability to interpret relevant legislation and draft policy documents, rules and technical standards.
• Demonstrate superior written and verbal communication, the capacity to influence and negotiate with senior stakeholders, and the ability to work on the basis of broad policy-level direction.