Acquiring Payments Compliance Program Leader

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.