Head of Risk Enablement and Payment Industry Compliance

1 week ago

Sydney, New South Wales, Australia Cuscal Limited Full time

Company Description

Our client's success is our top priority. You're the one who makes it all possible.
Payment systems can be quite complex, highly regulated, and constantly evolving. We are a well-established leading brand in the market, fully focused on boosting client expansion. We're always ahead of the curve when it comes to innovation, punching above our weight class. Our commitment lies in shaping the future for our clients by leveraging cutting-edge technologies such as the New Payments Platform (NPP) and open banking.

We are a prominent private company and one of the five accredited banks in Australia with complete direct access and operational capability across all local payment systems. While the major banks utilize this capability for their individual and corporate clients, our business-to-business (B2B) approach revolves around empowering other banks, fintech firms, and enterprises to deliver advanced and competitive payment solutions and digital services to their clientele.

We're currently seeking a Head of Risk Enablement and Payment Industry Compliance to join our Product Team.
The Head of Payment Industry Compliance & Risk Enablement plays a pivotal role as an expert leader in industry compliance and primary risk management, providing strategic guidance to business leaders and expert advice in four key areas:

1) Strategic relationship management and advocacy with payment industry bodies and schemes

  • Establish and nurture relationships with payment industry bodies and schemes to ensure Cuscal's active involvement in relevant committees; represent Cuscal at these committees where necessary.
  • Supervise payment industry reporting and audits to guarantee timely and precise delivery.

2) Compliance Framework implementation

  • Define scheme compliance procedures and operational methods within the product domains to ensure comprehension of scheme modifications and compliance tasks.
  • Collaborate with Product domains and squads to prioritize tasks, ensuring Cuscal meets stipulated deadlines.
  • Manage compliance and risk schedules to keep all product domains informed about upcoming activities.
  • Coordinate with Client teams to ensure their awareness of relevant changes and prompt implementation within the specified timeframe.

3) Financial management of scheme participation

  • Oversee scheme funding and budgets, including scheme waivers.
  • Engage with procurement to take charge of pertinent vendor connections and compliance with Cuscal's procurement regulations.
  • Account for scheme incentives, ensuring optimal utilization and returns on co-investments.

4. Operational risk embedment and transformation

  • Enhance operational risk and regulatory compliance practices in Line 1, including refreshing risk profiles, setting controls, identifying risks in changes, and involving Line 2 support when necessary.
  • Collaborate closely with Line 2 Risk & Compliance teams and IT Risk team to ensure fulfillment of regulator mandates and compliance of all products and services.
  • Lead the Payment Industry Compliance & Risk Enablement team to cultivate a risk-aware culture across all product domains.
  • Offer insights to the Product Leadership Team regarding the risk and compliance culture within the domains and squads.
  • Maintain compliance and risk-related activity dashboards (audit actions, issues, risk acceptances, scheme waivers, control testing, etc.).
  • Ensure adherence of Product Domains to risk appetite statements, policies, and frameworks.
  • Collaborate with Line 2 risk and IT Risk teams to comprehend forthcoming regulatory alterations necessitating prioritized tasks within the product domains.

About You
To excel in this role, you should possess the following skills and background:

  • Graduated with a Bachelor's degree in a business and/or technology-related field.
  • Minimum of 15 years of experience in a leadership role related to the payments industry; previous experience in scheme compliance roles is highly valued.
  • Extensive background as a leader in transforming risk and compliance at organizational and operational levels.
  • Demonstrated experience working in an agile product development environment.
  • Comprehensive experience in adaptive leadership and navigating through uncertainty.
  • Significant experience in effective internal and external relationship management.

What's it like working with us?

Along with competitive compensation and a vibrant workplace culture, we support our employees' professional growth by assisting them in acquiring industry-recognized qualifications. Through online learning, training modules, and career planning tools, you can develop alongside us. Our dedication lies in fostering a diverse and inclusive work environment where the top talent in Australia opts to work. We provide our team members with flexible work arrangements under our hybrid model, coupled with an array of financial, lifestyle, health, and wellness benefits.

Next Step
If you believe this position aligns with your aspirations, we encourage you to submit your application. Let's delve into who you are and what motivates you. We're excited to present our vision for the evolution of the payment industry. Please be advised that candidate screenings and interviews may be conducted before the job advert's closure.

Job Location

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