Senior Operations Group Manager

This is a fully remote position, open to applicants in Pennsylvania.

📋 Description

• Lead the Financial Operations (FinOps) function encompassing settlement, billing, exception management, collections, and financial control activities.

• Take ownership of daily, monthly, and periodic operational schedules; ensure timely execution of all processes while adhering to established accuracy and quality standards, with an emphasis on automation.

• Develop and uphold operational procedures, runbooks, and control documentation for all FinOps processes.

• Act as the main escalation contact for critical financial exceptions, discrepancies in funding, or operational failures affecting merchants.

• Ensure complete reconciliation integrity within the merchant services general ledger, covering settlement accounts, clearing accounts, reserve accounts, and fee income accounts.

• Confirm that daily and month-end closing activities are performed accurately and punctually in collaboration with the bank's Finance and Accounting teams.

• Design and maintain a robust internal control environment, including dual controls, reconciliation approvals, and governance for exception aging.

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

• Oversee merchant interchange and scheme fee economics; ensure accurate capture of interchange income, correct assessment of pass-through fees, and appropriate reconciliation and dispute of network fees.

• Identify and address billing and revenue leakage across the merchant portfolio, including incorrectly configured rate plans, unbilled transactions, and under-collection of fees.

• Partner with Product and Pricing teams to operationalize updates to fee schedules and new billing structures.

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

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

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

• Ensure all FinOps processes comply with relevant regulations, card network rules, and bank policies, including IRS 1099-K requirements, BSA/AML transaction monitoring duties, and state unclaimed property regulations.

• Administer lien and levy processing in strict compliance with legal mandates and internal policies.

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

• Define and propel the target operating model for FinOps, including opportunities for automation, system enhancements, and integration improvements with vendors/processors.

• Develop and report on a FinOps scorecard that encompasses 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 into operational costs, risk exposure, and revenue performance.

⛳️ Requirements

• Over 10 years of progressive financial operations experience in 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 flows, interchange economics, scheme fee structures, and the bank-processor operating model.

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

• Demonstrated success in overseeing collections, reserves, and financial risk mitigation in a regulated financial organization.

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

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

• Strong financial acumen; capable of managing P&L impacts, quantifying operational losses, and presenting financial results to senior leadership.

• Exceptional organizational and process management skills; proven ability to manage multiple operational schedules without errors or missed deadlines.

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

🏝️ Benefits

• Medical/prescription drug coverage (with a Health Savings Account feature).

• Dental and vision options.

• Employee and spouse/child life insurance.

• Short and long-term disability protection.

• 401(k) with PNC match.

• Pension and stock purchase plans.

• Dependent care reimbursement account.

• Back-up child/elder care.

• Adoption, surrogacy, and doula reimbursement.

• Educational assistance, including select programs fully funded.

• Comprehensive wellness program with financial incentives.

• Maternity and/or parental leave.

• Up to 11 paid holidays each year.

• 9 occasional absence days each year, unless otherwise mandated by law.

• Between 15 to 25 vacation days each year, depending on career level and years of service.