Financial Operations & Merchant Mandates Oversight Executive

Bank of America; New York (NY); Presencial; USD 178.000 - 281.000; Jornada completa

Ventajas ofrecidas por este puesto de trabajo

Benefits eligible

Descripción de la vacante

Bank of America seeks an executive to lead a seasoned Merchant Services team, driving payment network releases, pricing, and risk management. Balance merchant outcomes with bank economics while guiding strategic decisions and ensuring regulatory compliance.

Based in the United States, the role covers in-office work in major hubs and leads a ~35-person team, championing process improvements and durable remediation through strong controls and data‑driven insights.

Formación

• Merchant acquiring and issuing economics, with understanding of four‑party payments ecosystem and financial relationships among merchants, acquirers/processors, networks and issuers.
• Interchange and network fee management, including interchange qualification/optimization, network pricing structures, assessments and implications of network changes.
• Merchant pricing and billing, including understanding of merchant discount economics, billing accuracy, revenue realization, expense management and profitability.
• Merchant Services P&L management, balancing merchant value, revenue, cost and risk from both merchant/client and enterprise perspectives.
• End-to-end transaction flows: authorization, clearing, settlement, funding, reconciliation and exception management across card-present, card-not-present and digital environments.
• Payment network rules and compliance: interpret card-network mandates, assess impact, drive implementation.
• Payments regulatory acumen: knowledge of regulatory environment for merchant acquiring, debit and interchange.
• Financial controls and operational discipline: reconciliation, invoice validation, pricing/billing controls, revenue leakage prevention.

Responsabilidades

• Lead biannual payment network releases across processors, platforms, and networks; review network bulletins, determine applicability and financial impact; coordinate implementation.
• Oversee significant payment network, processor, and vendor expenses via invoice review, reconciliation, and controls; protect revenue and ensure contractual compliance.
• Lead annual volume-tier reviews and pricing incentive changes; validate calculations and drive issue resolution.
• Represent merchant and business interests when networks or regulators introduce new requirements; assess impact and ensure data, reporting, and processes are in place.
• Own and strengthen risk and control framework; manage inventories and controls; partner with Risk, Compliance, Audit for remediation.
• Provide deep payments expertise across interchange, network fees, pricing, acquiring/issuing economics, and settlement flows to inform decisions.
• Lead and develop a high-expertise team; foster knowledge transfer, accountability, and succession planning.
• Automate manual processes.

Conocimientos

Merchant acquiring and issuing economy

Interchange and network fee management

Merchant pricing and billing

Merchant Services P&L management

End-to-end transaction flows

Payment network rules and compliance

Payments regulatory acumen

Financial controls and operational纪律

Descripción del empleo

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, elevate issues appropriately, and partner closely with Risk, Compliance, and Audit to resolve complex matters and deliver durable 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

• 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

US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay 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.

Benefits

This 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.