Vice President & Chief Risk Officer, Canada

Visa; Toronto; Hybrid; CAD 150,000 - 200,000; Full time

Job summary

Visa is seeking a Chief Risk Officer for Canada who will be pivotal in managing risk and compliance strategies. This role involves overseeing operational risks, regulatory compliance, and championing security within the payments ecosystem. The successful candidate will work closely with senior management and external stakeholders to promote a robust risk management framework in a dynamic environment.

Qualifications

• 12+ years of work experience, with a Bachelor's degree, or 10 years with an advanced degree.
• Demonstrated expertise in identifying and mitigating risks in card networks.
• Proven ability to influence senior decision makers.

Responsibilities

• Develop and execute risk management strategies aligned with local and global priorities.
• Ensure compliance with regulatory requirements in the Canadian payments landscape.
• Lead engagement with key stakeholders including law enforcement and banking partners.

Skills

Risk Management

Regulatory Compliance

Data Security

Leadership

Negotiation

Analytical Skills

Education

Bachelor's Degree

Master's Degree or MBA

PhD

Job description

Company Description

Visa is a world leader in payments and technology with over 259 billion payments transactions flowing safely between consumers merchants financial institutions and government entities in more than 200 countries and territories each year. Our mission is to connect the world through the most innovative convenient reliable and secure payments network enabling individuals businesses and economies to thrive while driven by a common purpose to uplift everyone everywhere by being the best way to pay and be paid.

Make an impact with a purposedriven industry leader. Join us today and experience Life at Visa.

Job Description

The Chief Risk Officers (CRO) key responsibilities in Canada will be to maintain trust in our global brand championing security in the industry and differentiating Visa in the eyes of clients and key stakeholders. The CRO will advise the Canada Country Manager the Canada Leadership Team and global functional leads on strategies related to complex operational financial legal and regulatory risk exposures.

The successful candidate will lead a small team of 3 Risk professionals based in Toronto and have indirect responsibility for all second Line of Defense functions (Compliance etc.). Additionally the CRO will draw upon the resources of the North America Risk function across the wider region.

The Role

The incumbent will have a dual reporting relationship to the North America Regional Risk Officer and the Canada Country Manager. The CRO will be entrusted with a broad portfolio of responsibilities including Strategic Risk Management for the business Credit Settlement Risk Ecosystem Risk (Fraud & Data Security) and Regulatory Compliance Risk across Canada. The CRO will also be part North American Risk Leadership Team and Canada Leadership Team helping to advance risk strategies & practices across North America and Globally. The Canada CRO will interact with and represent Visa to Canadian Government Banking and Law Enforcement agencies including the Canadian AntiFraud Centre Royal Canadian Mounted Police Bank of Canada Canadian Bankers Association and Payments Canada. In addition the CRO will interact with Issuing Acquiring and Merchant clients with the goal of providing insights to improve overall ecosystem risk performance.

In addition to overseeing Strategic Risk Management the CRO will have responsibility for championing security in the industry and maintaining the integrity of the payments ecosystem. The CRO is responsible for negotiating and executing on comprehensive industry security roadmaps to ensure our clients make investments in data security authentication and consumer empowerment to protect cardholders merchants and all stakeholders in the industry.

The CRO will contribute to development of interoperable and secure digital identity standards which work with Open Banking leveraging Visas network assets and create a value proposition for Visas clients.

The CRO will develop comprehensive Country Risk Plans security priorities and execute strategies to prevent fraud enhance user authentication safeguard sensitive data identify and respond to data breaches and prevent the misuse of the payment system for unlawful purposes. The CRO will also be responsible for representing Visas Credit Settlement Risk policy to protect Visa against financial loss in the case of a failure of an issuing or acquiring client.

Key Responsibilities

Develop and execute a comprehensive risk plan that is consistent with local market landscape country priorities and global risk strategy.

• Execute both internal and external risk management programs
• Lead client forums (Canada Risk Councils working groups etc.)
• Promote & support client adoption of Visa risk products / solutions / initiatives
• Identify new creative winwin methods to reduce and mitigate payment system risk fraud and cardholder data security risks
• As a member of the Canada Leadership Team serve as a trusted & strategic advisor to the Canada Country Manager on all risk issues

Ensure Visa Canadas regulatory compliance

Design implement and oversee comprehensive compliance programs that meet regulatory requirements and uphold Visa Canadas standards and policies.

Stay abreast of changes in regulatory guidelines and legislation. Ensure that Visa Canada remains compliant with Bank of Canada and Department of Finance

Regularly conduct risk assessments to identify potential areas of compliance vulnerability and develop action plans for resolution of problematic issues.

Ensure accurate and timely submission of regulatory reports and filings. Maintain detailed records and documentation to support compliance activities.

Collaborate with internal and external auditors to facilitate compliance audits and inspections. Evaluate audit findings and implement corrective actions as necessary.

Advisory Role : Act as a key advisor to senior management and the Board of Directors on regulatory compliance matters. Provide guidance and recommendations to support strategic decisionmaking.

Prepare reports briefings and other written products to update executive management on risk activities issues and opportunities.

Convey riskrelated trends and developments to local country manager and leadership team through regular reporting

Synthesize marketplace feedback regarding the effectiveness of Visas risk management strategy and programs. Benchmark Visas performance relative to other payment networks and participants

Guide Visas proactive risk communications and collaboration across all of these stakeholders so as to advance the safety security and longterm growth of the Visa payment system

Lead the responsible innovation initiative by assisting Visa and its clients to mitigate risks and embrace new technology improvements.

Assess emerging / innovation risks and new business models through the NBIA process

Leverage local insights to contribute to Risk thought leadership

Guide clients through payment innovation complexity

Manage relationships with issuers acquirers merchants payment processors service providers regulators and law enforcement to :

Resolve fraud & data breach events

Provide stakeholder training

Respond to ad hoc queries & analytics requirements

Identify opportunities to enhance the payment ecosystem and advance risk management best practice through training education and speaking engagements

Support constructive relationships with local market regulators and law enforcement agencies and critically guide the Visa through a critical period of change in the local regulatory environment

Responsible to build and manage an Enterprise Risk Management Framework for the Canada market that provides a consistent and pragmatic approach to identify assess treat monitor and report risks at Visa.

Ensure that the participants in the NonFinancial Institution program is assessed against the Visa Risk policies in close cooperation with the Account executives and the Strategy and Operations team.

Maintain the safety soundness and security of the Visa payments system

Confirm the NonFIs : ability to manage risk security and fraud and operate the business in a comprehensive safe and sound manner. PCI compliance. Ability to address antimoney laundering ( AML ) and antiterrorist financing ( ATF ) in accordance with Canadian law and Visa requirements. Ability to comply with Visa Rules

This is a hybrid position. Expectation of days in office will be confirmed by your hiring manager.

Additional information

This position requires the incumbent to be available during core business hours

This position requires the incumbent to travel for work 020% of the time.

Work Authorization : Authorization to work in Canada is a precondition of employment for this position. Visa will not sponsor applicants for work visas in connection with this position. No relocation will be provided for this position.

Visa welcomes and encourages applications from persons with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.

Qualifications : Required skills :

12 or more years of work experience with a bachelors Degree or at least 10 years of experience with an Advanced degree (e.g. Masters / MBA / JD / MD) or at least 8 years of work experience with a PhD

Experience in Risk Management within Card Networks and Payments : Demonstrated expertise in identifying assessing and mitigating risks associated with card networks and payment systems including transaction monitoring fraud detection and compliance with industry regulations and standards.

Track record for successfully identifying and mitigating enterprise and operational risk for a complex global company in a regulated industry.

Experience protecting consumer and corporate data through the development and implementation of rigorous compliance & rules management processes.

Demonstrated approach to risk management contributing to brand and business growth. Understands both at a strategic and operational level the myriad risks facing the business. Drives down to root causes to assess the severity of the risk the cost of remediation and develops an appropriate action plan.

Proven ability to influence (e.g. senior level decision makers) lead collaborate and work in matrix environment.

Works effectively with clients and external stakeholders banks processors regulators.

Intellectually curious. Finds stories in the data asks the right questions demonstrated track record of mining data & intelligence for gamechanging insights that generate big impacts.

Preferred skills :

15 or more years of experience with an Advanced Degree (e.g. Masters MBA JD MD PhD)

1518 years of experience with a Bachelors Degree or 12 years of experience with an Advanced Degree (e.g. Masters MBA JD MD or PhD)

Experience in the payments industry (network processors financial institutions) or within multinational technology based transactional businesses (e.g. large retailers)

Extensive work experience in a multinational corporation

Solid general management background with proven track record in strategic thinking financial planning risk management relationship building and project leadership.

Additional Information :

Visa is an EEO Employer. Qualified applicants will receive consideration for employment without regard to race color religion sex national origin sexual orientation gender identity disability or protected veteran status. Visa will also consider for employment qualified applicants with criminal histories in a manner consistent with EEOC guidelines and applicable local law.

Visa welcomes and encourages applications from persons with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.

Remote Work : Employment Type :

Fulltime

Key Skills

Change Management,Financial Services,Growing Experience,Managed Care,Management Experience,Analysis Skills,Senior Leadership,Performance Management,Process Management,Leadership Experience,negotiation,Analytics

Experience : years

Vacancy : 1