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Payments Director in Lynn, MA at Eastern

Date Posted: 6/28/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Lynn, MA
  • Job Type:
  • Experience:
    At least 10 year(s)
  • Date Posted:
    6/28/2018

Job Description

The Head of Payments is responsible for the daily operations of payments processing, the profitability of payments products, management / mitigation of fraud levels and collaborating to build / execute the payments strategic roadmap / product development. This role is responsible for ensuring timely and accurate processing of all payment types (debit card processing, ACH, and wire transfers) through the management and continued professional development of the Payments team, compliance with operational controls, and audit support. The Payments position is a hands-on manager position that requires active engagement with the team that supports the payment processes and with customers throughout the Bank. The Head of Payments will be responsible for driving a shared service strategy and performance culture and for identifying opportunities for improvement in systems and processes to drive improved customer satisfaction and mitigate the increasing risk of payment fraud.

  • Collaborate, define and execute the strategic direction of Payments team. Translating the wider goals and vision of the Bank into service and team specific objectives, and priorities. Identifying opportunities to further enhance systems and processes by making best use of available technologies. 
  • Driving the digital & emerging payments product strategy supporting all aspects of the Bank’s business. This will include identifying and prioritizing product initiatives. Analyze, plan and execute pilots and proof-of-concepts for emerging payments and new technologies. Maintain integrated view of market trends and competitive position. Ensure business stability, growth, strategic alignment and enhanced profitability for Digital Payments.
  • Develop, lead and motivate the Payment Services team to deliver high standards of operational excellence as a high performing team and a culture of best practice. Responsible for delivering efficient and effective processing of financial transactions across channels in a high-volume environment. Continually benchmark the effectiveness and efficiency of payment metrics against historical performance and best practice
  • Manage the payment processing function and supporting business metrics and indicators for a best in class payments business. Supervise, schedule and prioritize tasks and responsibilities of the Payment team to meet workload and scheduling needs of the department.
  • Serve as the escalation point for payment issues, and work closely with the payments, operations and other teams to quickly resolve issues. Ensure adequate controls are maintained for card organization, NACHA, NEACH, and banking compliance. Manage Debit Card, Wire, ACH, and Alternative Payments vendor relationships, and work with vendors to optimize customer experience and authorization rates, ensure adherence to service level agreements. Identify and drive initiatives to prevent and reduce losses related to customer verification, billing and payments. Ensure timely and professional communication with internal and external customers to minimize losses in all business lines.

Job Requirements



Education and Experience  
  • 10+ years hands-on experience in payments management, product development
  • Demonstrated experience in process re-engineering, team transformation and building
  • Highly collaborative approach to building and managing payments products 
  • Considerable experience working with, and presenting to, executive management teams and Board committees
  • Proven ability to develop business cases, then measure execution results
  • Bachelor’s degree in Finance, Business Administration or equivalent combination of training and experience. 
  • MBA a strong plus