Vice President Of Risk Management - Payments

Job Type
Full-time
Description
Who We Are
Our vision for Thread Bank is to create an innovative financial ecosystem (Banking-as-a-Service, "BaaS", Lending-as-a-Service, "LaaS" and Payments-as-a-Service, "PaaS") that empowers every customer we serve to thrive. By interweaving business systems, once complex financial tasks are now in one place with one partner.
Connected, Together, We Thrive
We believe the future of banking is digital, connected, contextual, and customer-first. We're building a financial ecosystem of simplified Acquiring Payment-as-a-service "PaaS" solution that weaves seamlessly into your business and your life. Our new digital-first solutions combine best-in-class technology with a streamlined customer experience to reduce the time, effort, and mental energy of everyday business and personal banking.

• We built the technology stack framework for you to extend our PaaS acquiring to your customers via an easy-to-implement, easy-to-sell, embedded solution.
• Through meticulously selected partnerships, we will utilize our technology platform and charter to empower other banks, credit unions, and FinTech's to integrate financial solutions into their customer experience, without the hassle of building them.
• Thread is a connected financial ecosystem that will help you build value without building your own systems. We use our technology platform and charter to empower individuals, entrepreneurs, FinTech's, and brands to integrate fully compliant financial solutions into their customer experience.
• Leverage our bank-in-a-box offering to implement and sell banking products and services under your brand, without the hassle of building them. Transform the way your customers do business and banking with easy-to-sell digital banking.

What You'll Be Doing
Thread Bank is currently searching for a VP of Acquiring Risk Management to join our team. The VP of Acquiring Risk Management will be responsible for designing, implementing, supporting, overseeing and managing the risk, chargeback and compliance teams for the Payment-as-a-Service "PaaS" Acquiring division of the bank.
This position will help Risk departments accomplish the objectives by bringing a systematic, disciplined approach to Risk Management, underwriting efficiencies, governance and control processes.
This includes implementing and enhancing standards (workflows, department's framework, methodologies, policies, guidelines and/or procedures) for the Acquiring Risk and acting as a strategic risk advisor to executive management, and business partners on risk-related matters. Teams work in tandem with Regulatory Compliance, Product Development, Data Strategy, Governance Compliance, and Business Development and Relationship Management to accomplish these goals. The Department serves as the first line of defense to detect and mitigate liabilities to the Company.
Responsibilities include but not limited to:

• Leading, and mentoring teams of Fraud, Compliance and Risk Investigators, and all related personnel.
• Manage the activities of Acquiring Risk teams to assure timely and accurate completion of responsibilities and compliance with bank objectives and standards.
• Structure and maintain all bank and organizational risk policies, procedures and guidelines and preserve full documentation in accordance with standards/guidelines.
• Function as the liaison with Regulators, Auditors, Major Customers and Sales relationships.
• Working with the Chief Risk Officer - Payments to develop and achieve, define, represent, and communicate risk strategies and vision in line with the bank's short and long-term strategic objectives with respect to loss ratios, risk SLA's and portfolio performance.
• Provide guidance and training to the Risk team on policy issues, exceptions, risk ratings, deal structuring, appropriate hold limits and identification of covenants and other key provisions.
• Sponsor risk parameters design and updates to the current risk system (Aperia VisionWeb) and provide feedback in building an enterprise Risk Management platform.
• Actively participate in industry associations, such as, the International Association of Financial Crimes Investigators (IAFCI), and the Association of Payment Professionals (APP) formerly known as Merchant Acquirer's Committee (MAC).
• Direct the activities of all functions under Risk Management including Risk Monitoring, Investigations, Collections, Chargeback and Credit Re-Writes.
• Manage, contribute and or lead when required meetings with a goal of information sharing and team building as well as coaching to provide feedback for improvement of individual and team performance:
  • Weekly one-on-one meetings
  • Monthly Risk team meeting
  • Monthly Acquiring Risk Operations (Underwriting, Compliance & Risk) team meeting
  • Ad Hoc group meetings as dictated by business requirements.
• Prepare and distribute daily, weekly, and monthly risk metrics.
• Embrace and drive change within the department(s); identify gaps in processes, opportunities for improvement and assist in the development, training and implementation of these areas.
• Drive back-office technology stack projects, build team(s), delegate tasks and participate in SME committees as needed.
• Ensure financial exposure, compliance and fraud risk are mitigated through employee engagement, system enhancements, and industry analytics.
• Coordinates and host departmental sponsored training events and meetings with our webcasting and virtual event tools
• Developing budgets, forecasts, metrics, and measures. Monitoring and evaluating the results.
• Develop leading Acquiring Risk Management strategies and build the framework for a robust Acquiring Risk Management program that will drive operational risk transformation towards an efficient, effective, and coordinated model across all bank divisions.
• Providing information to the management team by gathering and summarizing data; preparing reports; making presentations of findings, analyses, and recommendations
• Ensure Banking and Card Brand Associations regulatory and compliance.

Requirements

• Bachelor's degree in business, finance or Risk Management, and a combination of 10 years of related acquiring industry (Wholesale ISO, PayFac, MSP, FSP) work experience with emphasis on Risk, Compliance and Underwriting at a Senior Management level.
• Experience managing a team(s) in a fraud management environment for 7+ years.
• Experience of managing staff in different regions and time zones
• Skilled communicator and presenter with the ability to influence and motivate others.
• Problem solving and decision-making skills with the ability to analyze complex information to identify the key issues/actions and drive to resolution.
• Ability to stay informed of new and upcoming developments in risk and the financial sector.
• A skill for identifying the behaviors and signs of Risky/fraudulent transactions or applications.
• The capability to think through cases and apply sound and timely judgment and problem-solving skills.
• Ability to make independent and sound decisions in an environment that is void of black and white guidelines and rules.
• Ability to prioritize and execute on the highest areas of importance.
• Ability to stay calm and positive when dealing with stressful inquiries. Conscientious, thorough, and able to handle responsibility, stress and authority appropriately.
• Proven ability to successfully manage change across an organization through clarity of message, command of subject matter and effective delivery.
• Extensive investigative skills as well as industry and law enforcement contacts
• Knowledge of various card brands (VI, MC, AX, DI) rules and regulations
• Knowledge and understanding of fraud schemes, legal aspects and compliance requirements relating to Acquiring processing.