Director, Head of Risk & Compliance, Consumer Banking Products & Card Issuance

Position Summary

The Head of Risk & Compliance, Consumer Banking Products & Card Issuance is responsible for leading operating risk management and compliance oversight for Western Union's banking and card issuance products.

This role will partner closely with business and product owners, legal, fraud, cyber security, technology and our sponsor bank partner. The role will develop and oversee systems, processes, and controls that support compliance with laws, rules, and regulations surrounding our US consumer products that involve card issuing and payments.. This leader will also partner with the first line of defense to ensure superior customer experience, robust risk controls, prudent fraud management, and forward-looking enhancements for digital banking-related features and services

This leader will play an instrumental role in driving scalability and reliability of our digital wallet, debit card, prepaid card and core banking platform.. The position places a particular emphasis on supporting both digital and retail channels to deliver secure, compliant, and innovative experiences for our U.S. based consumer customers with global payment and banking needs.

The successful candidate will help support innovation and profitable growth while ensuring adherence to all applicable regulatory requirements and operating risk guardrails.

This individual will serve as a strategic partner to senior management across Banking Products & Card Issuance, on all aspects of operating risk and compliance management. The role will work closely with Business, Product, Operations, Compliance, Risk, Technology, Finance, Marketing, and external partners.

Key Responsibilities

• Develop and execute the banking products and card issuance operating risk and compliance strategy, upholding alignment with business objectives and regulatory requirements
• Drive alignment across the organization to ensure all functions and processes related to these products comply with relevant laws, regulations, and policies - inclusive of product development, marketing, and customer support
• Create mechanisms to support adherence to applicable financial regulations, including banking, anti-money laundering (AML), know your customer (KYC), data privacy, card issuing, money movement and banking as a service to name a few.
• Lead design of policies, procedures, and controls that ensure regulatory compliance across all operations, including customer onboarding, transaction monitoring, ongoing suspicious activity monitoring, and all third-party partnerships.
• Monitor compliance related controls and key risk indicators to identify weaknesses, research issues, and make recommendations for remediation where required. Manage internal audits and controls testing to evaluate the effectiveness of controls, ensuring they are operating as intended
• Drive resolution of identified issues - drive root cause analysis, develop action plans and coordinate execution of identified solution across cross-functional teams
• Support major initiatives across debit, credit, prepaid, commercial, and digital payment products, including growth efforts, technology implementation and large conversion efforts
• Develop and maintain executive-level relationships with card networks, processors, sponsor banks, fintech partners, and key vendors
• Maintain comprehensive documentation of operating risk strategies and controls and that proper evidence is maintained on identified issues and actions to address
• Remain apprised of emerging industry and regulatory trends in the consumer banking and card issuing sector and ensure proactive risk mitigation strategies

Required Qualifications

• Bachelor's degree (BA) or equivalent from a four-year college or university in a business-related field or equivalent experience; MBA or advanced degree preferred
• Ten or more (10+) years' previous experience in card issuance, consumer banking, fintech, or related financial services. operating risk, regulatory compliance required
• Advanced knowledge of the federal, state, and other governing agencies regulations and requirements related to bank processing and transaction monitoring. (e.g. Reg E, Reg Z, UDAAP, BSA/ AML obligation, OFAC, PCI DSS Standards, Consumer Protection related regulations, CARD Act, etc.)
• Deep knowledge of U.S.-based banking products, card issuing and digital wallets - including a working understanding of banking operations, card processing environments, card network rules and dispute management
• Ability to apply strategic planning, activity coordination, and problem-solving techniques to complex issues of multiple facets and variables in non-standardized situations.
• Experience leading cross-functional teams across product, operations, technology, compliance, and risk
• Proven track record developing and managing effective working relationships with key functional partners and 3rd-party partners
• Strong process management and risk management background, balanced with a business minded, growth-oriented mindset

• Strong people leadership, talent development, and organizational change management skills

Preferred Qualifications

• Familiarity with banking-as-a-service (BaaS) environments and sponsor bank relationships.
• Knowledge of emerging payment trends including real-time payments, open banking, and cryptocurrency-linked card programs.
• Relevant industry certifications (e.g., Accredited Payments Risk Professional (APRP), Certified Anti-Money Laundering Specialist (CAMS), Certified Regulatory Compliance Manager (CRCM), or Certified Payments Professional (CPP).

Work Shift

HYBRID - Western Union values in-person collaboration, problem solving, and ideation whenever possible. We believe this fosters common ways of working and supports how we execute initiatives for our customers. The expectation is to work from the office a minimum of three days a week.

BENEFITS AND OTHER DETAILS

Benefits

You will also have access to short-term incentives, multiple health insurance options, accident and life insurance, and access to best-in-class development platforms, to name a few. Please see the benefits below specific to your country. If applicable, additional role-specific benefits will be mentioned during your interview process or in an offer of employment.

Your United States specific benefits include:

• Paid Time Off
• Medical, Dental and Life Insurance
• Tuition Assistance Program
• Student Loan Repayment (below manager level only)
• Parental Leave
• One day volunteer time off
• $0 Money Transfer Fee Discount Code - Quarterly
• Recognition Program "Game Changers"
• Employee Discount Program
• Global Adoption Assistance
• Global Scholarship Awards Program
• 401K plan

For residents of Colorado, California, Connecticut, Delaware, Minnesota, and Pennsylvania: Please do not respond to any questions on this initial application that may seek age-identifying information such as age, date of birth, or dates of school attendance or graduation. You may also redact this information from any materials you submit during the application process. You will not be penalized for redacting or removing this information.

Salary

The on-target earnings range is $235,000-$270,000 per year, which includes a base salary and short-term and long-term incentives that align with individual and company performance. Actual salaries will vary based on candidates' qualifications, skills, and competencies.

Other Details

As part of the application process, all applicants are required to take assessments. Western Union has partnered with a 3rd party provider to administer these tests. Applicants will need to provide their name and email address in order to process the assessments. If you have any questions, you may reach out to careers@westernunion.com.

We are passionate about honoring our employee's identity and fostering a feeling of belonging. Our commitment is to provide an inclusive culture that celebrates the unique backgrounds and perspectives of our global teams while reflecting the communities we serve. We do not discriminate based on race, color, national origin, religion, political affiliation, sex (including pregnancy), sexual orientation, gender identity, age, disability, marital status, or veteran status. The company will provide accommodation to applicants, including those with disabilities, during the recruitment process, following applicable laws.

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Estimated Job Posting End Date:

This application window is a good-faith estimate of the time that this posting will remain open. This posting will be promptly updated if the deadline is extended or the role is filled.