Iso Risk Manager Jobs

Job Summary

Supports oversight and performance of the Independent Sales Organization (ISO) and BIN Sponsored ISOs initial oboarding and annual annual due diligence assessments. Accountable for development and or modification of ISO initial and annual due diligence assessments including policy, procedures, process and on sight/remote due diligence.

Job Duties and Responsibilities

• Develops policy, procedures, templates for ISO assessments as well as ISO Credit underwriting, ISO Merchant Underwriting, Transaction monitoring, and other risk related functions. Enhances scorecards on a periodic basis to capture applicable risks.
• Conducts initial and periodic onsite inspections/assessments as dictated by changing risk profiles, including: change in ownership; change in ISO business model, change in location; sustained excessive chargeback/fraud activity; and increased or elevated complaint activity.
• Performs onsite and or remote due diligence for existing ISOs, BIN portfolio transfers, and new ISOs in accordance with card network and regulatory requirements.
• Ensures MRA/MRIAs are addressed effectively through closure.Applies knowledge of third party regulatory requirements and of bankcard payment operator network (e.g., Visa, MasterCard, AMEX, Discover) rules, standards, and practices, with regard to acquirer due diligence with strong knowledge of processor operating systems, knowledge of high-risk merchant categories, and transactions to ensure adequate controls are in place.
• Manages the annual performance management and merit processes for direct and indirect reports. Coaches and develops team members and builds a work environment where team members are engaged and feel a positive sense of achievement about their role in the company. Works closely with Human Resources regarding employee relations, compensation, training, posting and filling vacant positions and other Human Resources related matters.
• Supports TPP Underwriting Manager in due diligence reviews of ISO's third parties.
• Establishes and performs effective and sustainable processes of assessment including but not limited to: ISO/Third Party credit risk functions, card network compliance requirements, regulatory compliance requirements, financial position for overall risk/exposure determination.
• Actively leads/participates in projects where ISO and Synovus are impacted. Establishes process for documenting and escalating ISO/Third party escalation issues. Manages ISO merchant complaints Manages ISO escalated issues. Develops strong relationships with ISO and provides subject matter expertise/training to internal/external partners. External engagement in industry organizations/forums -MAC (Merchant Acquirer Committee) and (ETA) Electronic Transactions Association, Long term relationship with card networks.
• Reviews annual financial and un-audited financial statements on a periodic basis, coordinates additional reviews with finance/credit as appropriate determining ISO risk exposure. Reviews ISO contracts and or merchant agreements for ISO to ensure that all legally mandated issues are addressed in the agreements such as Gramm Leach Bliley, Patriot ACT, Bank Secrecy ACT, Anti Money Laundering, Fair Credit Reporting, Fair Debt Collection Practices ACT, and other applicable regulations/card network rules. Works with legal counsel in contract review and or merchant related contractual reviews.
• Each team member is expected to be aware of risk within their functional area. This includes observing all policies, procedures, laws, regulations and risk limits specific to their role. Additionally, they should raise and report known or suspected violations to the appropriate Company authority in a timely fashion.
• Performs other related duties as required.
• Leads and asesses risks of new ISO product or service implementations.
• Manages sponsor bank audits and exams and serve as point of contact for audit and regulatory matters.
• Develops and maintains an annual "onsite audit program" policy, procedure and process in accordance with card network and regulatory requirements.

The information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

Synovus is an Equal Opportunity Employer supporting diversity in the workplace

Minimum Education:

• Bachelor's degree in Business Administration, Finance, Accounting or related field or an equivalent combination of education and experience.

Minimum Experience:

• Seven years of experience with five years of job- related experience in merchant ISO/TPP risk and compliance with performance of due diligence risk assessments. Previous experience in developing and executing risk policy/procedures. Strong industry knowledge and network. Strong card brand relationships.

Required Knowledge, Skills, & Abilities:

• Current knowledge of industry developments and associated risks.
• Strong analytical skills, strong communication skills both written and verbal as requires frequent interaction (including report preparation) with Synovus senior management as well as senior executive management at the respective ISOs.
• Strong knowledge of merchant acquiring business acquired through previous work experience.
• Strong Outlook, SharePoint, Word, Excel, PowerPoint skills.
• Strong interpersonal skills with the ability to influence ISO risk- based decisions.

Preferred Knowledge, Skills, & Abilities:

• Five years merchant services ISO Third Party due diligence assessments including credit risk, and compliance requirements

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