Acquiring Payments Compliance Program Leader
Charlotte, North Carolina;Louisville, Kentucky; New York, New York; Atlanta, Georgia
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Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
This job is responsible for developing and managing the end-to-end product life cycle for highly complex products. Key responsibilities include conducting market research and competitor analyses, determining product pricing, developing short and long-term strategies, and identifying innovative opportunities to modernize product offerings and deliver a more unified customer experience. Job expectations include ensuring that product management efforts are integrated with sales, marketing, operations, implementation, and customer service strategies.
Bank of America Merchant Services is seeking an experienced Acquiring Payments Compliance professional to execute Payment Network compliance programs that are aligned with the American Express, Discover, Mastercard, Visa and Debit Network Rules.
The successful Acquiring Payments Compliance Program Manager will be a subject matter expert on Payment Network rules and uses that knowledge to lead a team charged with managing merchant and acquirer compliance with applicable Payment Network rules.
Responsibilities:
Identifies and creates comprehensive plans for product development and deployment, including supporting the creation of sales training programs and marketing materials to educate clients and internal teams on product capabilities
Oversees a set of products and maintains financials, including managing the investment profile and profit and loss (P&L) activities, such as revenue and profit margins
Provides information on product trends to sales and marketing teams leveraging knowledge of product functionality, marketplace trends, and the competitive landscape
Identifies opportunities to streamline or enhance product offerings to fit client's existing and future needs and support continued growth and operational excellence
Manages risk through implementing and monitoring effective controls in partnership with key support partners
Partners with internal stakeholders to obtain meaningful insights about markets, clients, and competitors in order to develop products that solve client needs and ensure high adoption rates
Develops and influences product strategy, driving products to provide comprehensive solutions across the bank
Develop, update and execute processes and procedures designed to ensure compliance with Bank of America enterprise compliance and operating requirements.
Effectively manage remediation of Acquiring Payment Network compliance violations and execute Payment Network compliance monitoring programs such as excessive fraud and disputes / chargebacks, Illegal Content violations and Website Monitoring.
Provide subject matter expertise and compliance guidance related to the interpretation of Acquiring Payment and Debit Network rules to internal and external stakeholders
Build strong relationships with the Payment and Debit Networks and serve as an escalation point with the Payment Networks for compliance related matters.
Evangelize the importance of Acquiring Payment Network compliance across the Merchant Services organization
Develop strong partnerships with cross-functional stakeholders and merchant clients to drive a proactive approach to compliance and violation remediation.
Execute 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
Assist in the creation, submission, monitoring and remediaiton of Payment Network Waivers.
Submit merchant registrations for Dynamic Currency Conversion, High Risk Merchant, 3D Secure, etc.
Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.
Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.
Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.
Required Qualifications:
7 or more years acquiring Payments compliance management experience with Payment (Visa, Mastercard, American Express, Discover) and Debit Network Rules
5 or more years experience successfully leading and developing high-performing teams
Detailed understanding of the Acquiring Payment and Debit Network rules
Strong interpersonal skills with the ability to clearly communicate with Payment and Debit Networks as well as internal stakeholders
Demonstrated strong research and data analysis competency
Strong written and verbal communication skills
Attention to detail combined with excellent organizational and time management skills
Ability to multi-task and adapt to shifting business priorities with a demonstrated ability to consistently meet assigned due dates
Desired Qualifications
Demonstrated critical thinking and problem solving abilities
5+ years experience designing and implementing compliance programs
Strong coaching and mentoring skills
Demonstrated ability to influence outcomes
Experience with developing / delivering executive level presentations.
Skills:
Collaboration
Executive Presence
Oral Communications
Presentation Skills
Problem Solving
Attention to Detail
Continuous Improvement
Influence
Product Management
Strategic Thinking
Business Analytics
Innovative Thinking
Market Analysis
Process Management
Reporting
For internal employees: participation in a work from home posture does not make you eligible to post.
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of America's Drug-free Workplace and Alcohol Policy, CLICK HERE .
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
