The VP Risk, Commercial and Money Movement Solutions is responsible to manage and further develop Visa’s strong risk management capability by leading and developing a team of Second line Risk Business Partners dedicated to Visa’s Commercial and Money Movement Solutions (CMS) business. The role significantly impacts the company, as this individual must be able to effectively identify, understand, assess, influence and communicate the company’s main risks to senior management and key governance forums, including Visa’s Management and Board Risk Committees.
The VP will drive the implementation of Visa’s Three Lines of Defense model and contribute to its overall risk culture. The CMS Risk Business Partners perform risk reviews of new products, services, solutions, strategic and change initiatives and provide oversight of key enterprise risks. In addition, this role will oversee and ensure effective management of financial risks across the business (market risk, liquidity, credit risk), inclusive of Visa’s Currencycloud, B2B Connect and Visa Payments Limited (VPL) business units. This role requires practical and strategic understanding of the payments and financial services industry, business environment and demonstrated experience assessing business and financial risks and implementing risk monitoring, mitigation and reporting activities. Must work collaboratively with cross functional & geographically diverse teams within Risk and outside of it and both internally and externally to execute against a common goal of protecting Visa. The individual will provide constructive challenge to first line functions where appropriate and make recommendations to Senior Management on risk controls or other actions required to drive risk mitigation. The individual will be regarded as a trusted business partner by executive management to make key risk decisions, using risk and business expertise. This role reports into the SVP, Product and Payment Services Risk and has a team based in San Francisco, London, the Netherlands, and New Zealand.
This highly visible role has end to end global accountability and responsibility for developing a comprehensive, strong and fully embedded risk management capability that delivers value and reduces risk exposure. This role is critical in shaping the future direction of our business and works hands-on with the CMS leadership team to identify, treat, aggregate, and communicate key enterprise risks and mitigation, areas in need of further maturity/strengthening, and the resulting impact to Risk Appetite to Senior Management, key governance forums and regulators.
It is expected that the VP, Risk, Commercial and Money Movement Solutions will deliver:
- A dynamism, commercial orientation, and culture of partnership within risk, business functions, and other relevant collaborators
- Key actions that contribute to a successful implementation of the three lines of defense model, which will require strong collaboration, influencing and strategic skills
- A strong and independent second line of defense, working closely with global risk teams and control functions
- Develop, lead and maintain a best in-class risk program & team, actively collaborating with First line business partners to identify, manage and mitigate key areas of risk, including but not limited to, strategic, financial, operational, ecosystem and legal and compliance risks.
- Design & implement a suite of metrics & reporting to help identify, monitor and measure risk exposures & investigate limit breaches for timely action
- Drive accountability and contribute to effective oversight by collaborating with First Line leadership to develop executive risk reporting to EC Leadership and Risk Governance, including through enhanced use of Key Risk Indicators and analytics
- Lead Second line risk reviews of strategic risks, emerging risks and key business initiatives, and provide effective, constructive challenge to the First line business functions. Second line coverage includes but not limited to compliance activities regarding PSD2 and safeguarding, GDPR, AML, Technology activities including major product changes and enhancements, external certification control framework (e.g., ISO27001) and alignment with Visa key controls and operational risk management (RCSA program, risk events, issue management)
- Monitor market, credit and liquidity risks posed by operation of Visa’s FX marketplace and treasury hubs, working closely with colleagues across Treasury, Risk and business to assess exposure and deploy appropriate risk mitigation measures, including leading stress testing, scenario and market risk analysis. Implement, maintain and continually improve the Credit Risk Framework/Policy, seeking to minimize losses that results from exposures to Network Partners and Clients FX trading.
- Monitor the economic, political, and business environment to ensure timely risk identification and mitigation. Bring up risks/issues through appropriate governance.
- Implement adequate monitoring, testing and reporting of key business and operational risks
- Contribute to the embedding of a risk culture throughout the company to promote clarity and accountability. Provide frequent, targeted and tailored learning bursts.
- Engage with relevant regulators overseeing business where relevant
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This is a hybrid position. Hybrid employees can alternate time between both remote and office. Employees in hybrid roles are expected to work from the office 2-3 set days a week (determined by leadership/site), with a general guidepost of being in the office 50% or more of the time based on business needs.
• 12 or more years of work experience with a Bachelor’s Degree or at least 10 years of experience with an Advanced degree (e.g., Masters/ MBA/JD/MD) or at least 8 years of work experience with a PhD
• Deep domain experience in payments, money movement, and managing financial risks in regulated entities.
• Excellent knowledge and understanding of risk management practices: experience in identifying, assessing, managing and reporting risk, gained across different risk types
• Articulate, and agile in leading multiple threads of complex problems and programs.
• Proven ability to build new capabilities and act as change agent. Thrive in ambiguous and complex environments!
• Inspiring leadership and motivational skills, business acumen, extensive experience developing/maintaining/ uplifting risk management practices to both enable and protect business growth.
• Experienced and credible in building valuable relationships with all roles and levels within a highly matrixed environment.
• High professional maturity, exceptional inter-personal and relationship development skills, ability to influence executive decision-making, and exposure to a broad range of functional experiences.
• Expertise in performing risk assessments, including but not limited to assessments of new products/services/solutions, new technologies and/or change initiatives
• Excellent knowledge of Financial Risk Management techniques and approaches, including hedging, underwriting, credit risk governance and controls, stress testing, and scenario analysis for both day-to-day and theoretical analysis
• Strong understanding of FX, trading and payment products and services, and of the wider economic environment and competitive landscape
• Understanding of business strategy, clients and their evolving requirements
• Knowledge and understanding of relevant regulation and experience of working with regulators
Work Hours: Varies upon the needs of the department.
Travel Requirements: This position requires travel 5-10% of the time.
Mental/Physical Requirements: This position will be performed in an office setting. The position will require the incumbent to sit and stand at a desk, communicate in person and by telephone, frequently operate standard office equipment, such as telephones and computers.
Visa is an EEO Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status. Visa will also consider for employment qualified applicants with criminal histories in a manner consistent with EEOC guidelines and applicable local law.
Visa will consider for employment qualified applicants with criminal histories in a manner consistent with applicable local law, including the requirements of Article 49 of the San Francisco Police Code.U.S. APPLICANTS ONLY: The estimated salary range for a new hire into this position is 207,300.00 to 285,000.00 USD, which may include potential sales incentive payments (if applicable). Salary may vary depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position may be eligible for bonus and equity. Visa has a comprehensive benefits package for which this position may be eligible that includes Medical, Dental, Vision, 401 (k), FSA/HSA, Life Insurance, Paid Time Off, and Wellness Program.
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