Risk & Compliance Manager (Merchant Acquisition)

6 months ago

Toronto, Canada OTT Financial Full time

OTT Pay Group Inc. "(OTT Pay)" is a fully funded established FINTECH focused on delivering simplified financial payment products. With a strategic emphasis on both Acquiring and Issuing businesses, we are developing a mobile-first platform that offers straightforward banking services, loyalty solutions, and innovative products including credit cards, accounts, gift cards, mortgage, and more. We are heavily driven by ambition, results, and forward-thinking. At OTT Pay, you will find numerous opportunities to learn and grow, alongside a cohort of talented individuals from diverse backgrounds and industries. Working collaboratively in an innovative environment, you will be encouraged to excel and make a meaningful impact. This presents a unique opportunity to join an organization committed to transforming financial solutions.

We are looking for a Risk & Compliance Manager to support our business growth in Toronto. The Risk & Compliance (R&C) Manager will help protect the Company and ensures that the organization remains compliant with all regulations and policies related to payments in Canada and the U.S. as well as those requirements of the Card Brands (such as Visa, MC, AMEX, Discover) and Program Acquirer Sponsors & Payment Processors (Adyen, Alipay, WeChat Pay, UnionPay International) as well as our Bank Service Providers.

The R&C Manager will work with professionals in all departments to ensure compliance with policies and all necessary laws and regulations related to cards under the acquiring and issuing business model programs. The R&C Manager will also work with cross-functional teams such as Business Development, Operations, Product, Technology, and Finance to deliver our business objectives in the following programs - Payment Facilitator Program; ISO Partner Program; Alternative Payment Methods' acceptance such as WeChat Pay, Alipay, Union Pay International; software and Apps for merchants to create, manage, and provide electronic loyalty cards, loyalty rewards, coupons, gift cards, discount cards, promotions gift card and loyalty programs.

**What's in it for you**:
Competitive salary
Extended Health, Dental, and Vision Benefits
Life and Disability Insurance
Vacation Leave
Centrally located modern and spacious offices close to Eglinton and Leslie
Free use of onsite Gym and Sports Facilities, and regular Company Social Events
Learning and Professional Development Support
A chance to work in a dynamic, collaborative, progressive and high performing team.
Community involvement through the annual Terry Fox Run
Tremendous opportunities for Growth and Development

**How you will be expected to contribute**:
Evaluates an organization's activities according to local and federal regulations.
Evaluates risk & compliance activities and irregularities, writes, updates and enforces policy.
Maintains records of risk & compliance activities, gaps and corrective action plans.
Works closely with the CCO to ensure all regulatory licenses are obtained in North America.
Acts as a liaison between the CCO, the Company and various government agencies.
Consults with the legal department and advises leadership and management on risk & compliance matters.
Collaborates with business development, finance, marketing and other operational support functions to define acceptable risk thresholds.
Works closely with Merchant Underwriting, Customer Acceptance, Credit Risk and Transaction & Fraud Risk Monitoring sections of the department.
Act as an escalation point for granting exception-based approvals in order to foster a service driven culture for merchants. Grant exception-based approvals in accordance with policy, recording the risks involved to approve or to decline the exceptions.
Implements and monitors risk mitigation strategies across the entire merchant and customer onboarding and ongoing management lifecycle process in order to reduce any adverse exposure originating at any stage of the relationship.
Implements and monitors fraud and risk prevention strategies to identify, prevent and mitigate possible exposures.
Conducts periodic review of merchants and merchant activity and analyzes processing performance by merchant.
Continuously perform industry scans and remain abreast with risk management standards, regulations and frameworks to build the OTT merchant acquiring framework.
Disseminate current updates and upcoming changes from card schemes and bank sponsors to the teams, working in collaboration with product and technology for enforcement.
Ensures that Payment Card Industry Data Security Standard (PCI-DSS) requirements are in place for OTT and for merchants, or any intermediary involved in processing, storing or transmitting cardholder data.
Develops and provides employee training on risk & compliance policies, practices, and reporting systems. Prepares and delivers employee training for all mandatory policies.
Prepares and files risk & compliance reports of all activities, risks, action plans.
Identifies, investiga

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