The VP, Risk will be responsible for risk management and administration of the processing portfolio by
carrying out the policies and procedures established by company and actively
managing the firm"s Merchant Support Specialist in underwriting, decisioning and administering
merchants. The VP, Risk will work closely with Management to ensure proactive risk management of
processing activities in accordance with network operating rules and applicable laws and regulations.
- The VP Risk will be responsible for ongoing monitoring of processing activities through the use of MAC
bulletins; global, localized and industry-specific fraud trends; and, analyzing CBOS reports, returns and
chargeback activity. You will be primarily responsible for internal tracking and monitoring of processing
activities in alignment with GLP policies and procedures.
- Responsible for investigating chargeback issues, communicating or coordinating remediation with
applicable merchants and preparing reports for Management, Board or sponsor bank review. The VP,
Risk is expected to determine appropriateness of reserve requirements and apply such requirements
- Review chargeback management controls on an ongoing basis to ensure proactive identification of
needed refinements to effectively manage applicable risk.
- Responsible for secondary review of completed merchant application packages to ensure completeness,
accuracy and compliance with GLP underwriting policies and procedures.
- May be tasked with reconcilement of transactions through settlement and reserve accounts, and
coordinating adjustments as necessary.
- On a quarterly basis, VP, Risk shall coordinate mystery shopping of merchant websites to ascertain
compliance with the terms and conditions of processing specific to shipping and sales CROctices,
avoidance of FDA triggering terms and other relevant terms as outlined within GLP policies and
procedures. Upon identification of violations or conditions of non-compliance, the VP, Risk shall
prepare merchant letters and work with agents to communicate issues and coordinate remediation with
- At least annually, the VP, Risk shall undertake a risk self-assessment at the enterprise level, which shall
be incorporated into the GLP Compliance Program and serve as the foundation for GLP policies and
procedures. In coordination with the self assessment, the VP, Risk shall update as necessary GLP
policies and procedures no less frequently than annually.