Payment Network Compliance Manager

Job Description:

Job Title: Payment Network Compliance Manager

Corporate Title:  VP

Location:  London

Company Overview:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

The Team:

Bank of America Merchant Services is expanding its Merchant Services business in the EU Region by adding new payment system capabilities and local payment network acceptance options which include country specific network options, alternative payment methods and digital wallets

Role Description:

• Develop and execute EU Region specific processes and procedures designed to ensure compliance with payment network rules and other payment scheme requirements

• Effectively manage remediation of Acquiring Payment Network compliance violations and execute Payment Network compliance monitoring programs for fraud and disputes / chargeback serchant Services business is expanding the global Acquiring business. 

• Provide subject matter expertise related to the interpretation of acquiring payment and regional network rules to internal and external stakeholders

• Build good relationships with the payment and regional networks and serve and an escalation point with all networks for compliance related matters

Responsibilities:

• Drive the importance of acquiring compliance across the Bank's Merchant Services organization

• Develop solid partnerships with cross-functional stakeholders and merchant clients to drive approaches to compliance and violation remediation

• Control monitoring and governance reporting of compliance performance metrics

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

• Complete monthly governance reporting of compliance performance metrics

What we are looking for:

• Previous experience with identifying the essentials skills and experience required for the position.

• Attention to detail combined with excellent organizational skills

• Established industry related compliance management experience with payment and regional network rules

• Detailed understanding of the acquiring payment and regional network rules

• Established abilities to clearly communicate with payment and regional networks as well as internal stakeholders with the ability to influence outcomes

• Demonstrable research and data analysis competency allied to excellent written and verbal communication skills

Skills that will help:

• Bachelor’s degree in business management or related field

• Master’s degree in business or relevant field

• Demonstrable experience with the execution of acquiring payments compliance

• Ability to develop executive reporting and presentations

Benefits of working at Bank of America:

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum 

• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

• Access to an Employee Assistance Program for confidential support and help for everyday matters

• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America:

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.