Service Provider Control and Oversight Program Manager - Global Payment Solutions

Job Description:

SkillsBank of America Merchant services is building an integrated acquiring payments platform and is seeking an experienced industry professionals to help build, evolve, and manage clients covered by the Service Provider Control and Oversight Program.  Client types typically covered by this program include, but are not limited to:  Payment Facilitators, Marketplaces, Independent Sales Organizations, Submitters and Jobbers.  The successful Program Manager will drive the execution of controls that are covered by the single process inventory and are aligned to applicable federal regulatory, payment network (American Express, Discover, Mastercard and Visa) and Bank requirements.  The successful candidate will be a subject matter expert on Service Provider risks, control requirements and oversight processes. 

The Program Manager will build strong relationships across multiple lines of business (Commercial Client / Merchant Portfolio, Product Development, Platform Management, Credit Risk and Transactional Risk teams) and Bank clients leading to the successful onboarding and ongoing oversight of clients covered by this program. Development of strong relationships with the Payment and Debit Networks resulting in the ability to influence rule changes and the remediation of non-compliance issues is essential to successful execution of this program.  This role will also be accountable for development of automation for legacy manual processes and building new and updating existing processes to maintain oversight and control processes and procedures that satisfy applicable regulatory, payment network and Bank of America enterprise compliance and operating requirements.

Job Description:

• Evaluation of client business, transaction processing and settlement models leading to determination of whether the business is operating a model that would merit coverage by and inclusion in the Service Provider Oversight and Control Program. 

• Timely and detailed execution of onboarding due diligence and annual assessments of Bank clients covered by the program as well as the effective management of the full and timely remediation of identified compliance and / or control gaps.  This would include providing guidance on available remediation methods and strategies; tracking progress and escalating as needed.

• Execution of control monitoring routines and governance reporting of performance metrics.

• Lead the quarterly client business review meetings through identification of key stakeholders, building effective agendas / meeting materials, leading the meeting, documenting key takeaways, and following up on any action items.

• Provide subject matter expertise related to the interpretation of Payment and Debit Network rules and federal / state regulations that pertain to Service Provider clients covered by the program.

• 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.

• Develop partnership relationship with Service Provider clients covered by the program to help strengthen the overall Bank relationship with the client, grow the relationship and guide the client on emerging risks / trends and solutions that can help improve their performance.

Required Skills:

• 5+ years Acquiring industry related experience Services provider front line management of oversight routines and business controls that pertain to Payment Network rules; applicable federal / state regulatory controls and Bank policies / procedures.

• Detailed understanding of the Payment and Debit Network rules and regulations that pertain Service Provider compliance and merchant transaction processing.

• 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.

• Ability to build client facing presentations that effectively convey the intended message.

• Demonstrated strong research and data analysis competency.

• Excellent written, verbal and presentation 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.

Preferred Skills:

Bachelor’s degree in business or other industry related-field preferred.

• Advanced degree in business or other industry related field preferred.

• 7+ years’ experience managing Service Providers at a Financial Institution or similar other Payments Industry entity.

• Prior payment industry Acquirer client management and / or compliance experience

Shift:

Hours Per Week: