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Compliance Risk Manager - Merchant Acquiring

  • Location: New York, NY
  • Job Type: Direct Placement
  • Ref No: 21-00155
  • Date: January 12, 2021
  • Job title:

Job Description - Compliance Risk Manager - Merchant Acquiring

Compliance Risk Manager - Merchant Acquiring



This firm is a is licensed by Visa Inc. and Client Incorporated to sponsor Independent Sales Organizations (ISOs) that acquire merchant customers to process Point of Sale (POS) transactions.



Position Summary

The primary function of this position is to support the Merchant Acquiring Compliance Officer in overseeing merchant acquiring activities by conducting risk assessments, account monitoring, developing policies and procedures, and maintaining subject matter expertise.



Essential Duties

  • Review and approve all third-party merchant agreements from compliance perspective
  • Conduct reviews for compliance with BSA, AML, OFAC, and other applicable laws, regulations, and guidance to approve or reject merchant applications
  • Conduct annual compliance risk assessments of onboarded merchants
  • Review all marketing materials, promotional merchant solicitation programs, and other forms used in accordance with ISO agreement
  • Conduct account monitoring and testing of high-risk merchants to identify process gaps and violations of applicable laws and regulations
  • Monitor the ISO's activity monthly including any periodic reviews completed by ISO
  • Develop a list of metrics that can indicate and identify changing trends to the business or program merchants.
  • Present findings and updates to the Merchant Acquiring Risk Committee
  • Manage and maintain workpapers to document risk assessments and monitoring activities
  • Lead or participate on special projects related to acquiring business
  • Conduct training as needed
  • Any other tasks assigned by the Merchant Acquiring Compliance Officer



Education

  • Bachelor's degree or equivalent experience
  • CAMS designation a plus
  • Four or more years of merchant acquiring industry experience as acquirer, acquiring transaction processor, payment service provider, payment facilitator, acquiring ISO, or other acquiring related business
  • Working knowledge of BSA/AML/OFAC
  • Prepaid Access Card, Money Services Businesses [MSBs] and International Remittances knowledge is a plus.

 




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