Financial Operations & Merchant Mandates Oversight Executive

Bank of America; Charlotte (NC); On-site; USD 178,000 - 281,000; Full time

Benefits offered by this job

Discretionary incentive

Benefits package

Job summary

Bank of America is seeking an executive leader for Merchant Services payments with deep domain expertise to align payment mechanics with business goals. You will guide network releases, pricing strategies, and regulatory considerations while driving risk controls and team development.

You will balance merchant outcomes with financial performance, manage large cross-functional programs, and mentor senior professionals to sustain innovation and operational excellence.

Qualifications

• Deep hands-on Merchant Services and payments industry expertise.
• Ability to translate complex payment economics into strategy.
• Experience translating requirements into merchant outcomes and profitability.
• Strong leadership and people development capability.
• Experience with four-party payments ecosystem and relationships.

Responsibilities

• Lead Payment Network Releases and Mandates across processors and networks.
• Oversee invoice review, reconciliation, and financial controls.
• Lead annual volume-tier reviews and pricing changes.
• Represent merchants' interests with networks, regulators, processors.
• Maintain risk & control framework and resolve issues with Risk/Audit.
• Provide deep payments expertise to inform executive decisions.
• Lead and develop a high-expertise payments team.
• Automate manual processes.

Skills

Merchant acquiring and issuing econ

Interchange and network fees

Merchant pricing & billing

P&L management

End-to-end transaction flows

Network rules & compliance

Payments regulatory acumen

Financial controls & operations

Job description

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Responsibilities:

This executive leads a highly tenured team of ~35 Merchant Services payment subject matter experts responsible for critical financial, network, operational, and risk capabilities across the Merchant Services business. The role operates as a player-coach, providing strategic leadership while maintaining the deep payments expertise necessary to personally engage in complex issues, challenge outcomes, and drive solutions.

The executive must connect detailed payment mechanics with broader business objectives, balancing merchant outcomes, financial performance, operational resiliency, regulatory and network requirements, and risk management.

Key Responsibilities

1. Lead Payment Network Releases and Mandates: Own execution of biannual payment network releases across multiple processors, internal technology platforms, and payment networks. Oversee the review of thousands of network bulletins and requirements, determine business applicability and financial impact, coordinate implementation across stakeholders, and validate accuracy following implementation.
2. Protect Merchant and Bank Economics: Provide oversight of significant payment network, processor, and vendor expenses through rigorous invoice review, reconciliation, and financial controls. Identify discrepancies, prevent unnecessary expense, protect merchant and bank revenue, and ensure accurate application of contractual and network economics.
3. Manage Client Volume Tiers and Pricing Incentives: Lead annual volume-tier reviews and client pricing incentive changes, ensuring changes are accurately calculated and implemented. Establish strong validation processes and drive rapid resolution when discrepancies or implementation issues are identified.
4. Serve as Merchant and Business Advocate: Represent the interests of merchants and the business when payment networks, regulators, processors, or other industry participants introduce new requirements. Assess operational and financial impacts, challenge requirements where appropriate, and ensure the necessary data, reporting, controls, and operating processes are established to support implementation and ongoing validation.
5. Maintain a Strong Risk and Control Environment: Own and continuously strengthen the risk and control framework across the function, including development and management of single-process inventories and associated controls. Proactively identify emerging risks and control gaps, escalation issues appropriately, and partner closely with Risk, Compliance, and Audit to resolve complex matters and deliver sustainable remediation.
6. Provide Deep Payments Expertise: Serve as a senior subject matter expert across interchange, network fees, merchant billing and pricing, acquiring and issuing economics, authorization through settlement transaction flows, debit routing, network rules, and applicable card regulations. Apply that expertise to identify financial, operational, and merchant impacts and inform executive decision-making.
7. Lead and Develop a High-expertise Team: Provide strategic direction and hands-on leadership to an experienced team of payments professionals. Preserve and expand critical institutional knowledge, develop future subject matter experts, create accountability for outcomes, and establish strong succession and talent development across the organization.
8. Automate manual processes.

Required skills: "Must" have these skills to be minimally qualified

While this is an executive-level leadership position, the successful candidate must possess deep, hands-on Merchant Services and payments industry expertise, with the ability to translate complex payment economics and operational requirements into strategies that improve merchant outcomes and business profitability. Specific expertise should include:

1. Merchant acquiring and issuing economics, with a strong understanding of the complete four-party payments ecosystem and the financial relationship among merchants, acquirers/processors, networks and issuers.
2. Interchange and network fee management, including interchange qualification/optimization, network pricing structures, assessments and the financial implications of network changes.
3. Merchant pricing and billing, including an understanding of merchant discount economics, billing accuracy, revenue realization, expense management and profitability.
4. Merchant Services P&L management, with the ability to evaluate decisions through both the merchant/client lens and enterprise financial lens, balancing competitiveness, merchant value, revenue, cost and risk.
5. End-to-end transaction flows, including authorization, clearing, settlement, funding, reconciliation and exception management across card-present, card-not-present and digital payment environments.
6. Payment network rules and compliance, including the ability to interpret card-network mandates and rule changes, assess business and financial impact, and drive implementation across the organization.
7. Payments regulatory acumen, including a strong working knowledge of the regulatory environment affecting merchant acquiring, debit and interchange.
8. Financial controls and operational discipline, including reconciliation, invoice validation, pricing/billing controls, revenue leakage identification and expense recovery.

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

Pay and benefits informationPay range$178,000.00 - $280,500.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

BenefitsThis role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.