FVP Director of Merchant Services

Glen Cove, NY

Full Time

Senior Manager/Supervisor

THIS IS NOT A REMOTE POSITION.

Purpose: The FVP Director of Merchant Services will provide subject-matter expertise and ongoing support across all areas of Bank’s Merchant Services and BIN Sponsorship operations (the “Program”), including partner contracting, compliance, and regulatory review. The FVP Director of Merchant services will have a dual reporting line to President & COO through collaboration with our lending team to enhance client experience and EVP, Chief Administrative Officer by cultivating a pipeline of new business and day to day operations and audits.

Essential Job Functions:
• The FVP Director of Merchant Services shall advise on and assist in drafting the core program agreements governing the Program, including:

Sponsorship and Program Participation Agreements.
Processor and Technology Provider Agreements.
Card Brand (Mastercard/Visa) Agreements.
Settlement and Reserve Account Agreements.
Data Sharing and Confidentiality Agreements.

• The FVP Director of Merchant Services shall ensure the aforementioned documentation accurately reflects regulatory expectations and the Bank’s oversight responsibilities as the issuing or sponsoring entity.
• The FVP Director of Merchant Services shall engage counsel in the development of template agreements and standardized legal documentation to streamline onboarding
• The FVP Director of Merchant Services shall be aware of relevant laws, regulations, and guidance applicable to the Program, including:

FDIC and federal banking regulations governing third-party risk management.
Card brand operating rules and sponsorship requirements.
State money transmission and payments licensing considerations.

• The FVP Director of Merchant Services shall implement a framework for compliance with applicable laws and card network rules.
• The FVP Director of Merchant Services shall support the Bank’s compliance function in documenting oversight procedures and responses to regulatory audits.
• The FVP Director of Merchant Services shall review potential clients for operational soundness and compliance risk.
• The FVP Director of Merchant Services shall implement and sustain a due diligence program for client approval processes.
• The FVP Director of Merchant Services shall provide guidance to Bank’s Board on high-risk merchants or program categories (e.g., prohibited activities).
• The FVP Director of Merchant Services shall be aware of and advise on changes in card brand rules or regulatory requirements that necessitate updates to the Program.
• The FVP Director of Merchant Services will also solicit ISOs to FCSB.
• The FVP Director of Merchant Services will be responsible for monthly reporting to ALCO on ISO updates.

Required Knowledge, Skills and Abilities:
• Excellent attention to details, and ability to adhere to established Bank operational policies.
• Ability to communicate professionally and concisely with staff and potential clients.
• Fluent with Excel, Word, and Outlook applications.

Salary Range: $250,000 - $300,000

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Do you have at least 15-20 years of experience in Merchant Services?*

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FVP Director of Merchant Services

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