VP, Payments ACH Risk and Operations

Overview

Banc of California, Inc. (NYSE: BANC) is a bank holding company headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the "bank"). Banc of California is one of the nation's premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services through more than 70 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more.

 

Job Summary The VP Payments Risk and Operations will play a large role in the ever-evolving payments system.  This role will be responsible for assisting the SVP Payments Risk & Operations in the design and implementation of the second line of defense Payments Risk Oversight Program for the company's payments-related portfolio, including Card Acquiring, Card Issuing and ACH Origination, as well as BaaS as it would relate to Payments.  The role will focus on managing payments risk oversight activities in accordance with Payment Network rules and applicable regulatory requirements.  This role will also be responsible for partnering with the first line of defense in designing Banc of California's overall Risk and compliance strategy for payments.  Payments is an exciting growth area within Banc of California. If you are a disciplined self-starter with strong leadership skills and have experience in the payments system and knowledge of Payment Network compliance, then this is the opportunity for you! We are looking for an energetic leader with experience in the payments space, specifically in Card and ACH.  The ideal person should be passionate about enabling the business to drive scale through strong risk assessment methodology, collaboration, and defining business requirements from a risk perspective.   Performs all duties in accordance with the Company's policies and procedures, all U.S. state and federal laws and regulations, wherein the Company operates. Responsibilities

• Participate in the development of the necessary risk oversight programs and documentation (i.e., policies, procedures, etc.) to identify, measure, monitor and control risks for card acquiring, card issuing and ACH origination. This includes but is not limited to developing scalable and effective processes and compliance testing of the following:
  • Initial merchant/origination assessment (underwriting) 
  • Ongoing merchant/origination monitoring, including transaction monitoring (including BSA/AML/Fraud)
  • Key Risk Indicator (KRI) reporting
  • Third-Party Oversight (TPS, PayFac, etc.)
• Responsible for evaluating existing relationships and working with the Bank's BSA and fraud teams for timely identification and escalation of unusual activity. Assist with testing and implementation of a control framework to improve monitoring of sponsored payment processors and their customers
• Develop strategy for onsite audits and reviews from afar of Third-Parties (ACH and Card) in compliance with Payment Network Rules, Regulation and Banc's Policies
• Evaluate and consult on new products, services, and emerging/high risk business models/verticals to assess risks associated with regulatory, financial, fraud, compliance, or reputational risk to build necessary requirements/guideline to manage those risks.
• Have a robust understanding of Payments Risk, including Card Brand Rules, Regulatory requirements and guidance
• Assists with review of the Bank's policies, standards and procedures of the Bank's compliance with Nacha, Card Brand and other regulations
• Review and collaborate with Legal on contracts impacting Payments-related business lines
• Collaborate with industry organizations to identify the latest trends in fraud and scams and best practices to mitigate those risks. Maintain up-to-date knowledge of industry regulations, payment network rules, bank partner requirements, and industry best practices.
• Be one of the subject matter experts (SMEs) on card acquiring and ACH processing
• Interface with card brands and other program partners and work with consultants. 
• Lead internal and external audits as necessary.
• Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
• Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
• Follows policies and procedures; completes tasks correctly and on time; supports the company's goals and values.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one's own actions and conduct.
• Performs other duties and projects as assigned.

Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation. If you require reasonable accommodation as part of the application process please contact Talent Acquisition Partner.

Qualifications

• Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Right to Financial Privacy Act (RFPA, state and federal)
• Strong Microsoft Office skills, Word, Excel, PowerPoint.
• Excellent verbal, written, and interpersonal skills.
• Advanced analytical skills with high attention to detail and accuracy.
• Ability to interact with all levels of an organization.
• Ability to deliver dynamic presentations to business clients and leadership.
• Ability to deliver results with speed and agility.
• Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment.
• Capable of overseeing ongoing compliance and monitoring of banks program partners.
• 10+ years of experience in merchant services, payments, regulatory, compliance, or fraud and/or operational risk management.
• 5+ years of merchant underwriting experience and Merchant Acquiring experience.
• Bachelor's degree in Business or related field and/or 8-10 years of related work experience; Master's degree preferred.
• Advanced knowledge and understanding of Payment Network rules (Card Brand and Nacha).
• Experience with sponsorship bank programs.
• Experience with building policies and procedures.
• Demonstrated ability to work effectively with management to establish risk guidelines.

 

Salary Range: $130,000.00 - 174,000.00; Final salary to be determined by the education, experience, knowledge, skills, and abilities of the applicant, internal equity, and alignment with geographic/market data.

 

Employment Type: FULL_TIME