Purpose:
- The BaaS Operations Cards Specialist will play a critical role in managing the day-to-day operations of Banking-as-a-Service (BaaS) solutions with a specific focus on card issuing, payment processing, and transaction management. This role ensures seamless operations, compliance with regulations, card network compliance, and excellent client service in a fast-paced fintech environment.
Tasks:
- Network related activities:
- Lead the execution of new product launches and program enhancements, including the preparation and submission of required Visa documentation (e.g., PIF, BMAS, MDES), to ensure full compliance with network standards and implementation requirements
- Act as the subject matter expert (SME) for the implementation of new Mastercard ICA/BIN projects and/or other ICA/BIN related activities requiring ongoing support
- Responsible for all activities involved in requesting a new ICA/BIN including setup and certification
- Responsible for all activities involved in the termination of a card program including returning the ICA/BIN and any trailing activities
- Responsible for all activities involved with an ICA/BIN transfer from another BIN sponsor bank
- Ensures the appropriate network and account set-ups for new card programs
- Creates and manages the network tasks in new card program plans/timelines to accomplish implementation project goals
- Assists with performing quarterly reporting for all card networks to determine assessment
- Assists with reviewing monthly invoices to determine Partner billing
- Ensures card Programs are compliant with card network brand and rules standards
- Supports the standard network reporting and maintenance requirements of existing card programs
- Daily Operations Management:
- Own and perform end-to-end operational activities for card issuance, payment processing, transaction monitoring requirements, settlement advisements, and dispute resolution processes and related activities
- Document and define network and regulatory related bank processes and standards? i.e. dispute processes in accordance with Reg E and network rules
- Strong proficiency in reconciling card and payment transactions including network reporting and advisements
- Ensure timely processing of network payments, transfers, and other required banking activities, working closely with technical teams to troubleshoot and resolve issues
- Monitoring activities:
- Monitor reconciliations of transactions
- Investigate and assist with resolving any discrepancies identified during monitoring
- Participate and develop funds flows for strategic programs and systems
- Fraud Prevention, Disputes, Chargeback Management:
- Collaborate with fraud prevention teams to monitor and mitigate any suspicious transactions or activities. Assist in the development of strategies to reduce fraud risks related to card and payment services
- Monitor disputes and chargebacks with our strategic partners, coordinating with both internal teams and external partners to resolve issues within regulatory timeframes
- Compliance and Risk Management:
- Ensure that all card and payment operations comply with regulatory requirements such as PCI-DSS, AML, and KYC guidelines. Collaborate with Compliance, Legal, BSA, and Risk teams to implement updates and adhere to changing regulations
- Extensive knowledge of payment networks e.g. Visa and Mastercard
- Partner and Client Support:
- Act as the operational liaison for external partners, including fintech companies, payment processors, program managers, vendors, etc.
- Collaborate with partners for onboarding new banking services and ensure smooth integration into their products or FinWise platforms
- Provide support and solutions for escalated issues related to programs, ensuring positive client experience
- Data Analysis and Reporting:
- Proficient with card and processor network reporting
- Prepare regular reports on card usage, payment trends, and operational performance metrics. Identify areas for operational improvements and provide data-driven recommendations.
- Analyze operational data and metrics to identify trends, inefficiencies, and areas for improvement.
- Prepare reports on service performance, key metrics, and compliance adherence for internal stakeholders.
- Monitor service-level agreements (SLAs) and ensure that all performance targets are met or exceeded.
- Platform Optimization & Innovation:
- Work closely with product and engineering teams to continually improve and scale BaaS operational processes
- Provide input on enhancements to the platform’s core functionalities, including payment processing, account creation, and other banking services
- Identify and implement automation opportunities to streamline manual processes and improve operational efficiency
- Client Support:
- Provide technical and operational support to clients, troubleshooting issues related to cards, payments, and transaction services. Ensure timely resolution of client inquiries and escalations
- Collaboration with Cross-Functional Teams:
- Work with cross-functional teams, including customer service, products, compliance, and engineering to address operational challenges and ensure seamless delivery of services
- Participate in the development and execution of new banking products, ensuring that all operational considerations are addressed during the launch
- Any other duties necessary to help drive to our Vision, fulfill our Mission, and abide by our Organization's Values
Knowledge, Skills and Abilities:
- Technical Skills: Proficiency in payment processing systems, data analysis tools, and MS Office Suite. Experience with Tableau, SQL, and other data querying languages is a plus
- Regulatory Knowledge: Strong understanding of financial regulations and compliance requirements (e.g., PCI-DSS, AML, KYC)
- Analytical Skills: Excellent analytical and problem-solving skills with keen attention to detail
- Communication: Strong verbal and written communication skills. Ability to explain complex concepts to non-technical stakeholders
- Team Player: Ability to work effectively in a collaborative team environment
- Adaptability: Flexibility to adapt to changing priorities and handle multiple tasks simultaneously