New Search--Compliance Manager, Merchant Acquiring-- Peoples Trust

Peoples Trust has been providing boutique financial services to the Canadian marketplace for over 25 years.  Since 1985, our focus has been on exceptional customer service backed by extensive product knowledge and experience. Peoples Card Services LLP. is a subsidiary of Peoples Trust Company, a principal member of Visa® Canada and MasterCard® Canada and a member of CDIC, Interac® and the Canadian Payments Association.

We enable Program Managers to offer best in class card programs for consumer, corporate and government.  With prepaid cards, organizations can make distributions to employees and customers without the inconvenience of producing cheques or using cash. They are an excellent medium for payroll, employee incentives and commission payments, rebate or warranty distributions. 

To Independent Sales Organizations (ISO) and Merchants, we offer connectivity to Visa®, MasterCard®, Interac® and American Express. PCS is able to provide a ‘one stop solution’ for merchants in Canada. In addition to being able to support full EMV chip card processing, PCS has a unique competitive advantage through our processing partner that enables merchants to process transactions on foreign cards in their own currency.

The Compliance Manager is responsible for compliance of the Merchant Acquiring Services, including ensuring each Channel Partner is compliant with all applicable laws, rules, policies and guidelines including but not limited to Peoples Trust Company (PTC) and Peoples Card Services (PCS) policies and procedures, Card Brand requirements and the Credit and Debit Card Industry Code of Conduct (CoC) as administered by the FCAC.

This encompasses ensuring the ongoing review, monitoring and analysis of the Channel Partner activity, reviewing and recommending new or changes of internal policies to Senior Management, while staying abreast of Card Brand and regulatory policies to ensure PCS and PTC meet compliance obligations.  

This position ensures that PCS merchant acquiring services are in compliance with the legal framework of all the Canadian payment system regulatory bodies and the rules and regulations of payment associations including but not limited to CPA, Interac, MasterCard, Visa, OSFI, FINTRAC and FCAC.

• Supervision of staff including providing direction, training and support to employees to ensure the unit is functioning efficiently.
• Provide advisory support and direction to the Merchant Acquiring business in developing, implementing and maintaining an effective Compliance culture and program.
• Ensure that the Merchant Acquiring business consistently meets the internal policy and external regulatory requirements.
• Conduct monitoring and testing against a range of process areas to ensure compliance with the Acquiring program and external regulatory requirements.
• Management of non-compliance notices from brands and other regulators, ensuring that issues are resolved and responded to in a timely manner.
• Maintain effective relationship management with external compliance stakeholders (regulators, acquiring partners and industry entities).
• Perform risk analysis on the compliance and reputational risks associated with contractual relations we have with card acquirers, payment product suppliers and new relationships.
• Ensure the merchant due diligence program meets the obligations of the Card Brand, regulatory entities and our acquiring partners.
• Liaise with Card Brands to stay abreast of changes in compliance.
• Act as a point of contact for all communication and requests for information from Card Brands.
• Manage the resolution of all merchant compliance issues raised by our acquiring partners.
• Ensure accurate reporting and analysis of various internal and external logs, complaints, charge backs, fraud, and loss statistics, including resolution of complaints or business practice issues.
• Completion of scheduled periodic and spot reviews of Channels, which may include operational as well as financial reviews and remedial actions as required to maintain compliance.
• Ensure ISOs/Agents activities are monitored per PCS policies and Payment Scheme requirements.
• Ensure ISOs/Agents are in compliance with PCS and Card Brand policies, including Code of Conduct.
• Provide sound recommendations on emerging compliance issues, trends and potential risks to PCS Merchant Acquiring Services, and act as the subject matter expert to Senior Management.
• Assess the impact of regulatory developments for merchant acquiring services and provide relevant and timely guidance to Senior Management.
• Support the coordination of internal and external Audits or Regulatory reviews impacting Merchant Acquiring business
• Continually evolve the design, content and training material of Compliance owned documents relevant to the Acquiring  Compliance program

• Minimum 10 years’ experience in a similar role within the Card Services or Payments industry
• Sound knowledge of the Merchant Acquiring business practices and operation processes
• In depth understanding of regulations in the card industry and knowledge of laws and regulations that impact compliance for card association networks (e.g. Visa and MasterCard) including the CoC.
• Exposure to regulatory agencies and associations
• Strong communication, interpersonal and negotiation skills
• Proven leadership skills with the ability to manage, coach and motivate staff in a team environment.
• Self-starter, able to function under minimal supervision
• Good judgement and demonstrated sound decision making skills, with a proactive approach to problem solving.
• Ability to oversee the ‘big picture’, yet diligent to details
• Strong organizational, analytical and time management skills
• Excellent communication skills both written and oral
• Handles stressful situations in a professional manner
• Adaptable, flexible and responsive to change in a fast paced environment
• Strong computer skills, with proficiency in Excel, Word and Outlook
• Bilingual English and French would be an asset

DEPARTMENT:        Peoples Card Services  - Toronto

REPORTS TO:          Direct - Vice President, Merchant Acquiring

                                     Dotted Line – Chief Compliance Officer

SUPERVISES:           Merchant Acquiring Compliance Administrator