Senior Operations Group Manager

This is a fully remote position, open to applicants in New York, +1 more state.

📋 Description

• Oversee the FinOps function encompassing settlement, billing, exception management, collections, and financial control tasks.

• Manage daily, monthly, and periodic operational calendars; guarantee that all processes are carried out timely and meet established accuracy and quality standards, emphasizing automation.

• Develop and uphold operating procedures, runbooks, and control documentation for all FinOps activities.

• Act as the main escalation contact for high-severity financial exceptions, funding discrepancies, or operational failures that impact merchants.

• Ensure complete reconciliation integrity across the merchant services general ledger, which includes settlement accounts, clearing accounts, reserve accounts, and fee income accounts.

• Verify that daily and month-end close processes are executed accurately and punctually in collaboration with the bank's Finance and Accounting departments.

• Design and implement a robust internal control framework, including dual controls, reconciliation sign-offs, and governance for exception aging.

• Collaborate with Internal Audit and Compliance to facilitate examinations, audits, and regulatory reviews of financial operations.

• Oversee merchant interchange and scheme fee economics; ensure accurate capture of interchange income, proper assessment of pass-through fees, and reconciliation of network fees, including disputes where necessary.

• Detect and address billing and revenue leakage within the merchant portfolio, such as misconfigured rate plans, unbilled transactions, and under-collected fees.

• Manage reserve adequacy for the merchant portfolio, coordinating with Credit Risk and Underwriting on reserve policy application and exceptions.

• Direct the collections strategy for merchant receivables, which includes fee arrears, recovery of negative balances, and mitigation of losses post-termination.

• Lead damage assessment efforts for merchant-related fraud, processing errors, and dispute losses; quantify recoverable amounts and coordinate recovery initiatives.

• Ensure all FinOps processes adhere to relevant regulations, card network rules, and bank policies, including IRS 1099-K requirements, BSA/AML transaction monitoring obligations, and state laws regarding unclaimed property.

• Manage lien and levy processing in strict compliance with legal standards and internal policies.

• Maintain documentation and evidence packages for all FinOps processes that are ready for audit review.

• Define and advance the FinOps target operating model, focusing on automation prospects, system enhancements, and improvements in vendor/processor integration.

• Create and present a FinOps scorecard that includes operational KPIs, exception aging, funding accuracy, billing quality, and recovery performance.

• Collaborate with the Product & Platform team on requirements for technology system implementations, platform migrations, and operational tools that affect financial processing.

• Contribute to the merchant services business strategy by offering data-driven insights regarding operational costs, risk exposure, and revenue performance.

⛳️ Requirements

• Over 10 years of progressive experience in financial operations within payments, merchant acquiring, or card issuing, with a minimum of 5 years in a senior management or leadership capacity.

• Profound understanding of the merchant acquiring value chain, including settlement processes, interchange economics, fee structures, and the bank-processor operating model.

• Proven experience managing reconciliation, exception handling, and billing operations in a high-volume payments setting.

• Established track record in managing collections, reserves, and financial risk mitigation within a regulated financial institution.

• Knowledge of IRS 1099-K reporting requirements, state escheatment laws, and obligations regarding levy/lien processing.

• Experience working within a bank regulatory environment, including interactions with Internal Audit, Compliance, and bank examiners.

• Strong financial acumen; adept at managing P&L impacts, quantifying operational losses, and conveying financial results to senior management.

• Excellent organizational and process management abilities; proven capacity to handle multi-track operational calendars without errors or missed deadlines.

• Experience in leading and nurturing high-performing operations teams.

• Bachelor’s degree in Finance, Accounting, Business, or a related field; an MBA or CPA is a plus.

🏝️ Benefits

• Medical and prescription drug coverage (including a Health Savings Account feature).

• Options for dental and vision coverage.

• Life insurance for employees and their spouses/children.

• Protection against short-term and long-term disabilities.

• 401(k) plan with PNC matching contributions.

• Pension and stock purchase programs.

• Dependent care reimbursement account.

• Backup child/elder care services.

• Reimbursement for adoption, surrogacy, and doula services.

• Educational assistance, including fully paid select programs.

• A comprehensive wellness program that includes financial incentives.