To provide strategic leadership on Rule and Compliance needs for Visa Inc. and the Regional Rules and Compliance needs for the relevant multiple regions (AP & CEMEA); to include direction on new products, new lines of business, joint ventures and acquisitions and changing market conditions.
Role will interact with senior levels of management including attendance, as needed, at AP CEMEA Management meetings (APMT). Role will also interact with Regional Business Function heads to determine the need for new rules and compliance and how Visa should implement new programs to protect the legal contract and Visa’s core asset. The role will mean working on highly complex issues requiring a broad appreciation of the strategic implications of the launch of such Products or Services on Visa’s existing business lines, regional strategies and potential revenue impacts.
The role requires management of a team of Operating Regulation and Compliance staff who consult with Senior Business Function sponsors on new rules or compliance actions, changes to existing rules and variances and waivers to support the business needs. The Operating Regulation staff will guide Senior Business Function sponsors through the process of concept, development, review, approval and publication. The Compliance staff will work closely with members in sensitive situations to bring clients into compliance with our rules including working on pre-litigation items as needed.
The role is accountable for Consumer Acceptance Complaints as well as all other Ad-Hoc violations of the regulations with the exception of certain Formal Compliance Programs managed by the Risk and Product Business Functions. The jobholder will ensure that Clients are compliant to the regulations and to monitor, investigate and validate the compliance status of Clients and where necessary to pursue corrective, and negotiated action, with the Clients to bring them into compliance following the regulations as appropriate.
Responsibilities
Assist the Head of Global Operating Regulations Development & Compliance in preparation of the annual strategy, objectives and budget needs;
Develop global business priorities and develop strategy plans to support the business and ensure that such plans are actioned and decisions are guided by such plans in the development of new Operating Regulations and Compliance actions;
Provide leadership to the author and compliance staff team and ensure the team accomplishes goals with resources available;
Conduct staff performance reviews, provide feedback, coaching and direct the professional development of staff;
Management of a team of Authors and Compliance staff;
Mange the development of operating regulations language for the Visa By-Laws, Visa International Operating Regulations, Regional Operating Regulations & Domestic Operating Regulations (e.g. Russia Rules) including understanding the downstream impacts of business function sponsor proposals for new or updated products, systems, services, programs or other initiatives regarding the member legal agreement.
Ensure that all drafted regulations are consistent with current Visa philosophy while adapting to market-driven change. Ensure that all materials meet department standards of quality and are delivered to the VORC for approval.
To provide direction, via staff, with respect to creating and implementing compliance solutions that meet regulatory and strategic compliance objectives of Visa Inc. and its Clients with respect to the Visa By-Laws, Visa International Operating Regulations, Regional Operating Regulations & Domestic Operating Regulations and associated subsidiary manuals.
Manage the staff who develop New and Revised Operating Regulations, Variances and Waivers that have strategic impact to the Visa enterprise and be able to assimilate complex situations in developing these regulations;
Ensure VORC Process is followed in conjunction with other Visa Committee’s where appropriate;
Review of VBN’s prior to release;
Managing and assisting in the publication of the regulations through the VPM Publishing Tool and VPC as well as identifying improvements;
Control and development assistance of extensions to the VIOR, Regional Op Reg’s & Domestic Op Reg’s;
Development of the strategic goal of ensuring that all Visa staff comprehend the Operating Regulations through ensuring staff Op Reg Development and Compliance Training;
Provision of advice and interpretation on all Op Reg matters, as codified in the By-Laws, Visa International Operating Regulations, Regional Operating Regulations and Domestic Operating Regulations to Clients and staff;
Control and Management of one of the Help Desk staff and jpint creation/update of global FAQ’s;
Responsible for setting the strategic CSS Metrics for Management Information / performance criteria and trends relating to Development and Compliance are collated, analysed, published and fed back to team Members to help define strategy for Visa Inc. globally and regionally;
Undertaking Quality Control reviews of work developed ;
Management of violations of the Operating Regulations and enforcement thereof (incl. Consumer Complaints, Ad-Hoc violations, mandate enforcement, Formal Compliance programs (where owned by CSS) and others;
Responsibility and accountability in negotiating complex compliance action plans with Clients at senior officer level, using discretion within the regulatory framework, for:
Assessing impact on the Visa brand, Clients’ businesses and the wider relationship with Clients;
Assessing feasibility of suggested remedial action, whether to implement fines or use other actions for enforcement;
Liaise with Clients and Visa Inc. Sales Account Executive/CSS Account Managers to ensure Client understanding and compliance with the By-Laws, Visa International Operating Regulations, Regional Operating Regulations and Domestic Operating Regulations;
Analyse all International and regional strategic initiatives, new products and services to ensure that, where appropriate, compliance issues are supported in their implementation and meet the commercial and regulatory framework in Visa Inc. markets to aid Business Development in an orderly and compliant fashion;
Rollout and management of the CSS Siebel CRM tool, Help Desk management and FAQ’s;
Participation and review of Risk Assessments;
Setting the direction and ensuring staff and Business Functions establish and maintain Compliance publications, best practices, compliance procedures on Visa InSite and Regional VOL sites for internal staff or Client use as appropriate;
Create, co-ordinate & manage network and hard copy filing systems for the Compliance function;
Any other projects as assigned.
Required Experience (education, Skills - Professional/technical/business)
Education:
Bachelor's Degree (B.A. or B.Sc) in Finance, Banking or Legal or Significant Industry Experience
Years Experience:
8 - 10 Years
Skills
Must have proven experience in managing diverse teams and working independently or through the team as required by events;
Excellent interpersonal, lobbying and communication skills (written and verbal);
Ability to effectively work under pressure, be proactive and self challenging and adhere to tight deadlines;
High level of self motivation, good judgment, diplomacy and tact, with the ability to work with staff at all levels of seniority throughout the organization;
Proven project management skills to co-ordinate divergent interests, commensurate with managing a multi-faceted compliance programme at an international level;
Good presentation skills accompanied by high personal impact and confidence to communicate and influence across all levels of the organization;
Established knowledge of general auditing and compliance procedures and functions;
Demonstrated knowledge and ability to evaluate business compliance and adherence to relevant standards and able to make sound, rationale judgements and recommendations in carrying out compliance activity;
Proven negotiation skills to manage internal and external parties and in the implementation of compliance actions in accordance with the procedures laid out in the By-Laws, VIOR, Regional Operating Regulations & Domestic Operating Regulations;
Understanding of Visa products, services and systems;
Proven problem solving skills and organizational skills;
Proven commitment to excellent customer services skills;
Knowledgeable of different payment markets and with the ability to travel;
Fully computer literate in MS Word, MS Excel, MS PowerPoint, MS Outlook.
Preferred Experience (education, Skills - Professional/technical/business)
Preferred Education:
Bachelor's Degree (B.A. or B.Sc) in Finance, Banking or Legal or Significant Industry Experience
Preferred Years Experience:
11 - 15 Years
Preferred Skills
Extensive experience in Visa, a Membership organization, a Regulatory Body, card industry or equivalent;
Awareness and understanding of Visa and Client / Industry business priorities;
Understanding of Visa products, services and systems;
Awareness of the Visa Regulations:
VI By-Laws;
VI Op Reg’s;
AP Regional Op Reg’s;
CAN Regional Op Reg’s;
CEMEA Regional Op Reg’s;
LAC Regional Op Reg’s;
US Regional Op Reg’s (incl. US Interlink, US POS Check, US Plus, Visa ePay).
Beneficial to have project planning and organization experience.
Pass it on for Referral Bonus. Not the right role for you, but know someone we should meet? Share with him to earn $1,000 referral bonus.
Subscribe to us
100% Free.
close