Director, Sponsor Bank Program Oversight
3 days ago
Houston
Description: The Director, Sponsor Bank Program Oversight is a leader with independent oversight who responsible for ensuring that WAS’s programs comply with sponsor bank requirements, payment network rules, and applicable laws and regulations. Employed by WAS and operating with a dotted‑line relationship to the sponsor bank, this role helps translates sponsor‑bank expectations into internal policy compliance, controls, processes, and reporting. The Director serves as the primary liaison between internal WAS teams and the sponsor bank on all matters of governance, settlement and exposure management, operational controls, and regulatory compliance. This role requires deep expertise in payments, operational and settlement risk, third‑party governance, and applicable regulatory frameworks. This role is pivotal to helping advance business objectives while operating within a regulated environment by identifying compliant pathways, help to guide with responsible innovation, and ensuring decisions support both commercial goals and regulatory and/or sponsor bank expectations. Key Responsibilities: · Own the sponsor‑bank governance framework (charters, RACIs, SLAs/KPIs/KRIs, issue management) and ensure alignment to sponsor‑bank expectations and contractual obligations. · Lead initial and ongoing due diligence readiness (financial, operational, information security, BCP/DR, privacy, PCI/SOC, model governance) and coordinate evidence for sponsor‑bank reviews. · Conduct constructive review and authorize internal changes that impact the sponsor program (new products/use cases, risk appetite/thresholds, vendor changes, pricing/fee structures, geographies). · Guide safe processing decisions across an evolving payments landscape, including emerging markets (i.e., crypto, digital currencies, blockchain, etc.), determining if those environments align with our organizational capabilities, policy & compliance standards, and long-term strategic objectives. · Drive a forward‑looking risk assessment of inherent/residual risks (operational, settlement/credit, fraud, BSA/AML, sanctions, consumer, reputational, cyber) and ensure control owners execute remediation plans. · Partner with VP Risk/Compliance to ensure internal policies/procedures conform to sponsor‑bank compliance framework, BSA/AML/OFAC, Reg E/UDAAP/GLBA, NACHA rules, card network rules, and RTP/FedNow participation standards (as applicable). · Participate in sponsor‑bank, internal audit, and external audit exams/reviews. · Partner with VP Risk/Compliance to define and monitor exposure limits (e.g., daily processing caps, prefunding requirements, ACH return and chargeback thresholds, fraud and loss rate KRIs); trigger escalation and remediation when breached. · Ensure the effectiveness of KYB/KYC, sanctions screening, transaction monitoring, SAR decisioning/filings, and case management, consistent with sponsor‑bank standards. · Review and partner with VP Risk/Compliance to optimize fraud strategy (authentication, velocity/limits, 3‑D Secure or network tools, dispute handling and representment) and track fraud loss trends to risk appetite. · Oversee model governance (risk scoring, underwriting, fraud/AML models): documentation, testing/validation, change control, performance monitoring, and sponsor‑bank visibility. · Serve as the internal owner of sponsor‑bank obligations, ensuring the processing organization maintains full compliance with contractual, regulatory, and risk expectations set by the sponsor bank. · Coordinate on Quarterly Business Reviews (QBRs) and routine governance forums; prepare executive‑level materials for both internal leadership and sponsor‑bank stakeholders. · Maintain strong working relationships with Legal, Product, Engineering, Operations, Finance/Treasury, Information Security, and Data teams to embed sponsor‑bank requirements in day‑to‑day execution. · Produce comprehensive program dashboards and executive reports (volumes, auth/return/chargeback ratios, fraud and AML metrics, complaints, SLAs, incidents, losses, settlement exposures, and control health). · Approve or support refinement of internal changes that affect sponsor‑bank obligations, including policies, controls, limits, and new product risk assessments. · Escalate to the sponsor bank per agreed protocols for material incidents, threshold breaches, or changes in risk profile. · Hold internal owners accountable for remediation timelines and evidence, ensuring transparency with the sponsor bank. · Align program policies with Visa and Mastercard Third Party guidance. · Represent WAS and the sponsor bank in C-level and strategic discussions, including onsite visits with key clients and represent the collaborative approach to risk management and decision making. · Build and maintain key relationships and ensure adherence to shared policies, and regulatory expectations, presenting information clearly to internal and external partners. Competencies Required: · Deep understanding of payments operations and settlement mechanics across one or more rails (card acquiring, ACH, push‑to‑card, RTP/FedNow, wires). · Strong command of BSA/AML/OFAC, consumer protection, NACHA, and payment network rules; able to interpret and operationalize requirements. · Deep knowledge of sponsor bank models and fintech product flows. · Experience working with regulators or supporting regulatory exams. · Advanced analytical skills: exposure monitoring, reconciliation validation, loss provisioning, and KPI/KRI design. · Exceptional stakeholder management, executive communication, and negotiation skills—comfortable engaging bank partners and regulators. · Data‑driven mindset; high proficiency in Excel/Sheets and familiarity with BI/reporting tools. · An eye for identifying weak points in processes and organizational structures. · Strong attention to detail and high concern for data accuracy with the ability to follow directions and apply proper policies, procedures, and guidelines. · Proficiency with Microsoft Office applications. · Strong organizational and time management skills, with the ability to multi-task, maintain accuracy, and meet deadlines in a fast-paced, high-volume environment. · Strong verbal and written communication skills with the ability to maintain confidentiality and professionalism while interacting with regulators, customers and internal team members. · Ability to follow directions, apply proper policies, procedures and guidelines and make objective decisions based on analysis of data and patterns. · Self-starter possessing the ability to work independently while supporting a team environment. · A thorough understanding of the latest process enhancement strategies. · Leadership and mentoring skills. Minimum Qualifications/Experience: · 7+ years in payments/fintech, sponsor‑bank programs, acquiring/issuing, or enterprise risk/compliance, BaaS; demonstrated leadership in program oversight. · Demonstrated experience leading oversight of payment processing programs or fintech partners. · Expertise with card network rules, NACHA, RTP/FedNow participation, and payment settlement processes. · Strong background in regulatory compliance and third‑party risk management. · Demonstrated experience leading oversight of payment processing programs or fintech partners. · Expertise with card network rules, NACHA, RTP/FedNow participation, and payment settlement processes. · Strong background in regulatory compliance and third‑party risk management Formal Education & Certification: · Bachelor’s degree in Business Administration, Banking, Finance or related field required or a combination of education and experience; advanced degree or certifications (CAMS, CRCM, CFE, CISA, AAP, or similar) preferred.