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Acquiring Payments Compliance Team Leader

Charlotte, North Carolina;

Job Description:

Develops and manages highly complex products in GCSBB. Ensures that product management effort is integrated with sales, marketing, operations, implementation and customer service. Responsibilities include conducting market research and competitor analyses, determining product pricing, developing short- and long-term strategies/outlooks for assigned product(s), and designing and tailoring products to meet customers' needs. Competencies required include demonstrated strategic planning/product management skills, strong analytical skills with breadth of view, negotiation skills, and 7 to 10 years of related experience.

Description Summary:

Bank of America Merchant Services is building an integrated acquiring payments platform and is seeking an experienced Acquiring Payments Compliance Team Leader that will help facilitate the execution of the acquiring Payments compliance that is aligned with American Express, Discover, Mastercard, Visa and Debit Network rules.  This position will also help with the development and implementation of automation opportunities geared to the reduction of manual processes.  The effective Payments Compliance Team Leader will be a subject matter expert on Acquiring Payment Network rules and will lead proactive approach to Payment Network compliance through the active engagement with the Commercial Client / Merchant Portfolio, product development, platform management, credit and transactional risk teams leading to building strong relationships with the Payment and Debit networks to influence rule changes and the remediation of violations.  This role will also be accountable to build and maintain processes and procedures designed to ensure compliance with Bank of America enterprise compliance and operating requirements

Responsibilities include but not limited to:

  • Lead, guide and mentor a team charged with executing Payment and Debit Network compliance monitoring programs. 

  • Provide leadership and subject matter expertise related to the interpretation of Payment and Debit Network rules and regulations with internal and external stakeholders.

  • Build strong relationships with the Payment and Debit networks leading to the ability to influence rule changes and advocate for waivers / leniency for rule violations. Also, serve and an escalation point with the Payment Networks for compliance related matters.

  • Evangelize the importance of Payment Network compliance across the Bank of America Merchant Services organization and develop compliance related guide and proactive communications that interpret compliance with changing Payment Network rules and help embed Payment Network compliance across the organization.

  • Develop strong partnerships with cross-functional stakeholders and merchant clients to drive a proactive approach to compliance and violation remediation.

  • Lead the development of automation opportunities to eliminate manual processes and optimize compliance team effectiveness and program execution.

  • Lead analysis of proposed rule changes and work with cross-functional stakeholders to communicate and operationalize required changes.

  • Lead monitoring and governance reporting of compliance performance metrics.

Required Skills:

  • 7 years industry related experience with Acquiring Payment and Debit Network Rules

  • 5 years team leadership / management preferred

  • Detailed understanding of the Acquiring Payment and Debit Network Rules

  • Demonstrated leadership skills with the ability to motivate and drive small team performance excellence

  • Strong interpersonal skills with the ability to clearly communicate with and influence clients, Payment and Debit Networks and peers as well as senior and executive management

  • Demonstrated strong research and data analysis competency

  • Excellent written and verbal communication skills

  • Ability to think creatively and identify out of the box solutions while balancing business priorities and risks

  • Attention to detail combined with excellent organizational skills

  • Ability to multi-task and adapt to shifting business priorities

  • Strong critical thinking and problem solving skills

 
Desired Skills:

  • Bachelor's degree in Business or other industry related-field preferred

  • Advanced degree in business or other payments industry related field

Desired Experience: 

  • 7+ years team leadership / management experience 

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Develops and manages highly complex products in GCSBB. Ensures that product management effort is integrated with sales, marketing, operations, implementation and customer service. Responsibilities include conducting market research and competitor analyses, determining product pricing, developing short- and long-term strategies/outlooks for assigned product(s), and designing and tailoring products to meet customers' needs. Competencies required include demonstrated strategic planning/product management skills, strong analytical skills with breadth of view, negotiation skills, and 7 to 10 years of related experience.

Description Summary:

Bank of America Merchant Services is building an integrated acquiring payments platform and is seeking an experienced Acquiring Payments Compliance Team Leader that will help facilitate the execution of the acquiring Payments compliance that is aligned with American Express, Discover, Mastercard, Visa and Debit Network rules.  This position will also help with the development and implementation of automation opportunities geared to the reduction of manual processes.  The effective Payments Compliance Team Leader will be a subject matter expert on Acquiring Payment Network rules and will lead proactive approach to Payment Network compliance through the active engagement with the Commercial Client / Merchant Portfolio, product development, platform management, credit and transactional risk teams leading to building strong relationships with the Payment and Debit networks to influence rule changes and the remediation of violations.  This role will also be accountable to build and maintain processes and procedures designed to ensure compliance with Bank of America enterprise compliance and operating requirements

Responsibilities include but not limited to:

  • Lead, guide and mentor a team charged with executing Payment and Debit Network compliance monitoring programs. 

  • Provide leadership and subject matter expertise related to the interpretation of Payment and Debit Network rules and regulations with internal and external stakeholders.

  • Build strong relationships with the Payment and Debit networks leading to the ability to influence rule changes and advocate for waivers / leniency for rule violations. Also, serve and an escalation point with the Payment Networks for compliance related matters.

  • Evangelize the importance of Payment Network compliance across the Bank of America Merchant Services organization and develop compliance related guide and proactive communications that interpret compliance with changing Payment Network rules and help embed Payment Network compliance across the organization.

  • Develop strong partnerships with cross-functional stakeholders and merchant clients to drive a proactive approach to compliance and violation remediation.

  • Lead the development of automation opportunities to eliminate manual processes and optimize compliance team effectiveness and program execution.

  • Lead analysis of proposed rule changes and work with cross-functional stakeholders to communicate and operationalize required changes.

  • Lead monitoring and governance reporting of compliance performance metrics.

Required Skills:

  • 7 years industry related experience with Acquiring Payment and Debit Network Rules

  • 5 years team leadership / management preferred

  • Detailed understanding of the Acquiring Payment and Debit Network Rules

  • Demonstrated leadership skills with the ability to motivate and drive small team performance excellence

  • Strong interpersonal skills with the ability to clearly communicate with and influence clients, Payment and Debit Networks and peers as well as senior and executive management

  • Demonstrated strong research and data analysis competency

  • Excellent written and verbal communication skills

  • Ability to think creatively and identify out of the box solutions while balancing business priorities and risks

  • Attention to detail combined with excellent organizational skills

  • Ability to multi-task and adapt to shifting business priorities

  • Strong critical thinking and problem solving skills

 
Desired Skills:

  • Bachelor's degree in Business or other industry related-field preferred

  • Advanced degree in business or other payments industry related field

Desired Experience: 

  • 7+ years team leadership / management experience 

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22032335

Band: H4

Manages People: No

Travel: Yes, 10% of the time

Manager:

Talent Acquisition Contact:

Thomas Freeman

Referral Bonus:

0