Financial Operations & Merchant Mandates Oversight Executive

Bank of America; United States; On-site; USD 178,000 - 281,000; Full time

Benefits offered by this job

Discretionary incentive eligible

Benefits eligible

Job summary

Bank of America in the United States seeks an executive payments leader to guide a seasoned Merchant Services team. You will own pricing, risk controls, and network governance, translating complex payment economics into strategies that protect revenue and drive growth.

You will oversee biannual payment network releases, manage client pricing incentives, and partner with Risk, Compliance, and Audit to sustain a strong control environment while delivering value to merchants and the bank.

Qualifications

• Deep Merchant Services and payments industry expertise.
• Translate payment economics into actionable strategies.
• Strong governance, risk and controls mindset.

Responsibilities

• Lead Payment Network Releases across processors and networks.
• Protect merchant and bank economics via invoices and controls.
• Manage annual volume tiers and client pricing incentives.
• Advise merchants and business on network requirements and impacts.
• Strengthen risk and control environment across the function.
• Provide deep payments expertise across flows, rules and regulations.
• Lead and develop a high-expertise payments team.
• Automate manual processes.

Skills

Merchant Services expertise

Interchange & network fee management

Pricing & billing

P&L management

End-to-end transaction flows

Regulatory acumen

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

• 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.
• 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.
• Key Responsibilities 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.
• Key Responsibilities 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.
• Key Responsibilities 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.
• Key Responsibilities 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 sustainable remediation.
• Key Responsibilities 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.
• Key Responsibilities 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.
• Key Responsibilities 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.
• 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.
• Interchange and network fee management, including interchange qualification/optimization, network pricing structures, assessments and the financial implications of network changes.
• Merchant pricing and billing, including an understanding of merchant discount economics, billing accuracy, revenue realization, expense management and profitability.
• 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.
• End-to-end transaction flows, including authorization, clearing, settlement, funding, reconciliation and exception management across card-present, card-not-present and digital payment environments.
• 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.
• Payments regulatory acumen, with a strong working knowledge of the regulatory environment affecting merchant acquiring, debit and interchange.
• Financial controls and operational discipline, including reconciliation, invoice validation, pricing/billing controls, revenue leakage identification and expense recovery.

Shift & Hours

Shift: 1st shift (United States of America)

Hours Per Week: 40

Pay & Benefits

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.

Privacy Statement

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Why Join Us

Join us! Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates. Opportunity and Inclusion Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success. Our Values Learn about our four values that represent what we believe.

Pay Transparency

https://careers.bankofamerica.com/en-us/pay-transparency