Merchant Compliance Expert

Our team is responsible for managing deposit and transactions, payments acceptance, and health products. We also deliver business customer lifecycle management, cross-cutting initiatives, and transaction banking client solutions.

The role will have responsibility to support and manage merchant and product compliance risk for payment acceptance. Your primary contributions will be to address scheme, industry, and regulatory requirements and compliance-related risk, control gaps, and be the central point of contact for schemes and internal stakeholders for all scheme and merchants' regulatory related compliance enquiries, requests, and escalations.

Key Responsibilities:

• Supporting activities required to manage merchant compliance who serve as a primary point of contact to assist product owners, frontline teams, and other internal stakeholders on compliance-related matters, research requests, and reporting.
• Contributing and influencing the development of merchant acquiring regulatory/policy-related matters, managing relationships with internal and external stakeholders, and maintaining industry knowledge through participation in relevant workshops, professional development programs, and effective industry networking.
• Managing compliance to new and existing scheme mandates, conducting impact analysis, monitoring changes for merchant solutions implications, and recommending course of action to senior management and product owners.
• Identifying any possible breaches, investigating, assessing, and managing incidents and breaches and working with stakeholders to improve processes and strengthen controls.
• Demonstrating understanding of applicable laws, regulations, policies, and procedures.
• Working with Product Owners to develop, maintain, and publish applicable business artefacts including guidance documents, policies, gap analysis documentation, relevant matrices, impact assessment, high-level timelines, and any other applicable business artefacts.
• Identifying relevant stakeholders, selecting appropriate techniques and processes to derive and manage merchant compliance requirements.
• Identifying commercial opportunities with card schemes including scheme fee cost savings and reconciliation of billing.

What We're Looking For:

• A deep understanding of risk and compliance gained within financial services.
• Strong stakeholder management skills.
• Excellent written and verbal communication skills, in providing concise and clear advice.
• Experience in Risk or Compliance.
• Well-developed problem-solving and analytical skills.
• Excellent stakeholder engagement and relationship management skills with the ability to engage with a diverse range of stakeholders.
• A pragmatic and solutions-focused mindset, with a proactive, can-do approach, open to new ideas and experiences and adaptable to change.
• Excellent organisational skills and a thorough approach to your work, with a very high level of attention to detail.
• Understanding of compliance frameworks, financial services law, obligations, and familiarity with policy requirements from ASIC, BCCC, AFCA.

Benefits:

We offer a dynamic and inclusive work environment that supports the growth and wellbeing of our employees. Our commitment to diversity and inclusion helps us attract and retain top talent, while our comprehensive training programs help you develop your skills and career.

Join Our Team:

At Commonwealth Bank, we believe that every employee has the potential to make a positive impact. As a Compliance Specialist, you will play a critical role in helping us achieve our goal of being a trusted and respected leader in the financial services industry. If you are passionate about compliance, risk, and stakeholder management, we encourage you to apply for this exciting opportunity.