OTT Pay Inc. is an established, fully funded fintech company focused on delivering streamlined financial payment solutions. With a strategic focus on both acquiring and issuing business, we are developing a mobile-first platform that offers a wide range of financial services, loyalty programs, and innovative products, including credit cards, payment solutions, e-commerce, gift cards, and more. We are a results-driven, forward-thinking organization that values goal orientation and continuous improvement.
At OTT Pay, you will find abundant opportunities for professional growth, working alongside a talented and diverse team from various industries. Our collaborative and innovative environment fosters learning and development, empowering you to excel and make a tangible impact. This is a unique chance to join a company dedicated to reshaping financial solutions for the future.
We are looking for a Director, Risk Management to support our business growth in Toronto. As the Director, Risk Management, you have extensive experience in managing risk for a FinTech. You will oversee identifying, monitoring, and managing our risk exposure, as well as ensuring compliance with relevant laws and regulations. You will also work with cross-functional teams such as Business Development, Compliance, 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 WeChatPay, 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.
In the capacity of a Payments Risk SME, you will be responsible for managing risk strategies related to reducing debit and credit card fraud and other potential losses. You are expected to contribute to the company's Merchant Underwriting, Fraud Monitoring, Operational, Settlement, and Financial Risk exposure initiatives.
You will be expected to own and deliver a best-in-class seamless risk management framework covering merchant underwriting, put in place early fraud detection alarms as well as working with all internal teams to institutionalize procedures and strategies to manage overall risk. We expect the incumbent to go the extra mile and understand industry-wide compliance and best practices to mitigate potential fraud as well as regulatory exposure.
This is a permanent full time position working onsite at either Toronto Office or Montreal Office.
What’s in it for you:
· Competitive Salary
· Extended Health, Dental, and Vision Benefits
· Life and Disability Insurance
· Performance Bonus
· Vacation Leave, Parental Leave and Family Medical 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 contribute:
· Define, maintain risk policies and procedures as part of company governance.
· Disseminate current updates and upcoming changes from card schemes and bank sponsors to the teams, working in collaboration with product and technology for enforcement.
· Continuously perform industry scans and remain abreast with risk management standards, regulations and frameworks to build the OTT merchant acquiring framework.
· Define and implement a robust merchant underwriting framework ensuring appropriate KPI metrics are established and measured both from a qualitative and quantitative perspective.
· Participate in Payment Card Industry (PCI) responsibilities including industry reviews, portfolio monitoring, drive strategy improvements as well as collaborate with finance, marketing and other functions to define acceptable risk thresholds.
· Ensure 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.
· Manage, design and implement risk mitigation strategies across the entire merchant onboarding and management lifecycle process in order to reduce any adverse exposure originating at any stage of the relationship.
· Partner with cross functional operational teams to continuously upgrade, document and deploy merchant risk related processes and procedures.
· Partner with Product, IT and operations to implement and ensure optimal merchant risk controls are in place and enhanced as required.
· Ensure that a robust merchant underwriting risk framework is in place and continuously reviewed for effectiveness.
· Ensure that merchant risk assessment protocols are in place at onboarding and during the life of the merchant relationship.
· Ensure that merchant monitoring and merchant ongoing review is conducted.
· Implement and monitor fraud and risk prevention strategies to identify, prevent and mitigate possible exposures, charge back risks as well as prevent online and in-store fraud attempts. Ensure periodic review of processing performance is conducted.
· Put in place a granular approach to optimally manage collections and recovery; the key would be to manage delinquency buckets early in the collection cycle to reduce potential bad debts.
· Act as an escalation point for granting exception-based approvals in order to foster a service driven culture for priority merchants. Grant exception-based approvals in accordance with policy, recording the risks involved to approve or to decline the exceptions.
· Employ and continuously assess vendor risk management tools to maximize the results to increase efficiency.
· Develop and generate regular risk reports for management and institutionalize an operating rhythm to foster a culture of risk awareness and accountability within the organization.
· Leverage the data analytics team in order to adopt an analytical approach to decision making. Use data analytics to build risk mitigation models as well as optimize merchant pricing in light of a risk-based approach.
· Define and implement a transaction monitoring risk framework to minimize losses to the Company and the merchant, enabling OTT to respond to ever-evolving fraud attacks and to mitigate the risks as they happen in real time.
· Ensure a Complaints Resolution program is in place for inbound complaints from consumers, merchants, regulatory bodies, consumer protection agencies.
· Build, train and lead a risk and fraud unit that scales up in line with anticipated volume growth and merchant footprint.
· Provide merchants with accurate interpretation and analysis in response to complaints and disputes raised by merchants from time to time
What you bring to the table:
· College degree and above in a related field
· Relevant risk management certifications will be a strong advantage
· At least 7 years of experience related to risk management in the payments or financial services industry
· 5+ years of managing merchant acquiring for North American Payment Facilitators or FinTech
· Experience in the credit/debit card and alternative payments acceptance vertical
· Ability to successfully lead a team while also balancing own projects and priorities.
· Leadership experience and operating at a strategic level either with a fintech, merchant acquirer or network scheme
· Analytical approach to problem solving
· Ability to work under pressure; A fintech is less structured and sometimes disintegrated. You have the skills to bring the pieces together.
· A passion and desire to implement new and exceptional risk management strategies and institutionalize a risk governance framework
· Teamwork – You love to include colleagues in planning, decision-making, facilitating process improvements and enjoy a collaborative way of working
· Excellent communication skills
· Experience with analytical tools will be an advantage
· Experience with scrubbing and aggregating large, fragmented data sources
This is an onsite position and the successful candidate will be required to report to the office Mon-Fri from 9:00am to 5:30pm.
Visit our website at https://ottpay.com/.
We are committed to fostering a diverse and inclusive workplace, welcoming individuals from various backgrounds and experiences to contribute to the future of payments. At OTT Pay, our team values collaboration, support, and mutual growth. We actively work to build an inclusive culture that encourages the development of all team members. As an equal opportunity employer, we welcome applications from all qualified candidates, including those with disabilities. If you require accommodation during the application or interview process, we will work with you to ensure your needs are met.
We appreciate all applicants for their interest; however, only those candidates selected for an interview will be contacted.