VP Head of Card Finance

Your responsibilities will include:

• Accountable for all the Card-related accounting and financial functions for Card Services to ensure optimal revenue generation, prudent expense control, and management of a complex network of high-volume general ledger and internal suspense and control accounts relating to the settlement of the card issuing and merchant acquiring business.
• Ensure profitability through rigorous financial planning, risk management, and the optimisation of unit economics, including interchange margins and Card rewards costs.
• Responsible for the reporting of statistical and financial information to each of the specific Card Associations (American Express, Mastercard, Visa and Discover) and monthly reporting to Executive Management.
• Prepare and review the annual SOX reporting documents for the annual presentation to the auditors 
• Ensure that all SOX, Compliance and Internal Audit requests are dealt with in a complete and timely manner  
• Perform financial and operational analysis to support desired operational changes and determine financial impacts of industry association compliance and operational mandates, vendor and processor contract amendments
• Oversight of all functions pertaining to the daily settlement process for the Bank’s issuing and acquiring business, ensuring accuracy of accounting entries to revenue, expense and suspense accounts and meeting deadlines for electronic financial settlements with the overseas processor.
• Develop and document the annual budget (including capital budget requirements) for submission to the Group Head of Card Services and the Country Managing Directors
• Perform monthly reviews of revenues and expenses and prepare all accounting accruals for processing by the Finance Department within established deadlines
• Perform monthly analysis of the department’s financial performance and prepare comprehensive explanations of significant variances to plan
• Prepare/verify for accuracy and coordinate the completion of the quarterly returns to the Bermuda Monetary Authority & Cayman Islands Monetary Authority
• Responsible for the overall department cost control by conducting monthly review of billings from industry-specific Card Associations, Processors, Vendors, and Group Service Providers to ensure accuracy of billing expenses.
• Perform financial analysis to help develop business case proposals in support of new or amended product enhancements, strategies and operational processes  
• Liaise with the department heads to ensure that all Card Services reconciliations adhere to the company clearance policy timeframes
• Provide on-the-job training to enhance employees’ understanding of accounting and control processes and their overall job skills. Assist in identifying formal training programmes as appropriate     

Your qualifications and skills include:

• Bachelor’s Degree in Accounting/Finance or related discipline with a minimum of 7 years progressive experience in a Card Issuer/Acquirer operations role, plus at least 5 years in a senior management capacity with direct experience of managing credit and debit card issuer/acquirer operations
• Demonstrated experience in card/merchant industry, including business dynamics, operations, servicing and issues related to fraud and risk
• Sound knowledge of Card network (American Express, Mastercard, Visa) operating regulations
• Strong managerial, interpersonal and communication skills, project management and negotiating skills       
• Experience in back-office re-engineering and efficiency enhancement