Senior Merchant Compliance Specialist

3 days ago

Sydney, New South Wales, Australia beBeeCompliance Full time $150,000 - $180,000
Merchant Compliance Manager

Job Overview:

The Merchant Compliance Manager will be responsible for overseeing merchant and product compliance risk for payment acceptance. This role will address scheme, industry, and regulatory requirements and compliance-related risk, control gaps, and serve as the central point of contact for schemes and internal stakeholders on all scheme and merchant regulatory-related compliance inquiries, requests, and escalations.

Key Responsibilities:

  • Support all activities required to manage merchant compliance, acting as a primary point of contact to assist product owners, frontline teams, and other internal stakeholders on compliance-related matters, research requests, and reporting.
  • Contribute to and influence 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.
  • Manage compliance to new and existing scheme mandates, conduct impact analysis, monitor changes for merchant solutions implications, and recommend courses of action to senior management and product owners.
  • Identify any possible breaches, investigate, assess, and manage incidents and breaches, and work with stakeholders to improve processes and strengthen controls.
  • Demonstrate understanding of applicable laws, regulations, policies, and procedures.
  • Work 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.
  • Identify relevant stakeholders, select appropriate techniques and processes to derive and manage merchant compliance requirements.
  • Identify commercial opportunities with card schemes, including scheme fee cost savings and reconciliation of billing.

Requirements:

  • Understanding of merchant acquiring, including merchant terminals, ecommerce platforms, payment gateways, payments, and card schemes is advantageous.
  • Experience in researching and interpreting card scheme rules in plain business language is beneficial.
  • Excellent written and verbal communication skills, in providing concise and clear advice, are essential.
  • Experience in Risk or Compliance is desirable.
  • Well-developed problem-solving and analytical skills are required.
  • Excellent stakeholder engagement and relationship management skills, with the ability to engage with a diverse range of stakeholders, are necessary.
  • Demonstrated ability to function effectively both as part of a team and autonomously is crucial.
  • A pragmatic and solutions-focused mindset, with a proactive, can-do approach, open to new ideas and experiences, and adaptable to change, is essential.
  • Excellent organisational skills and a thorough approach to your work, with a very high level of attention to detail, are required.
  • Understanding of compliance frameworks, financial services law, obligations, and familiarity with policy requirements from ASIC, BCCC, AFCA is necessary.

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