Director, Sponsor Bank Relationships

1 month ago


Jacksonville, United States Vaco Full time

Vaco has an opportunity for a Director, Sponsor Bank Relationships in Jacksonville Florida. Relocation assistance will be provided for the right candidate. This position is hybrid, 3 days onsite, 2 days remote. Responsibilities Assisting with driving and delivering the Group's banking strategic plan in relation to sponsor banks. Develop and maintain a portfolio of bank relationships, in the US and Canada, including regular contact with account managers and other key staff at each bank, acting as the "point of contact" for the bank's relationship team. Negotiate pricing and commercial agreements. Identify and cultivate new sponsor bank relationships to support strategic objectives, such as iGaming, Nutra and Crypto. Support Company's targeting and delivery of new merchant verticals, including segments that are considered as niche or higher risk, such as iGaming (Internet/Online Gambling), Nutra and Crypto. Drive the end-to-end onboarding of new sponsor banks, from negotiating sponsor agreements and related legal documents (in coordination with Legal), moving or raising BINs and related technical setup activities through to compliance/AML reviews and go-live. Contribute to sponsor bank strategy, including the allocation of business (wallet share) amongst the sponsor banks and determining direction of travel. Act as the technical advisor on sponsor bank implementations for the business. Perform analytical analysis on bank processing volumes, to cultivate data-driven decision making and provide visibility to Banking leadership. Maintain awareness of key changes to card scheme rules which could impact our banking relationships, working closely with our Scheme Compliance team. Help coordinate incoming sponsor bank audits, working in alignment with Risk and Operations. Maintain oversight of banking fees and charges, including analysis of where to optimize and identification of cost efficiency opportunities. Provide ongoing updates to the business units on current banking environment and status of relationships as well as key banking activities. Provide banking support for our multiple payment gateways (e.g. Netbanx) and ISO/ISV and Payfac models, ensuring we have adequate banking coverage to serve the business. Work closely with the Banking team on non-card processing initiatives with sponsor banks, such as ACH processing and Banking-as-a-Service white labelled banking. Act as an escalation point within Company for the bank. Prepare external and internal presentations, as required. Qualifications Minimum 8 years of relationship management experience; ideally 5 years working within the banking (merchant services) industry. Bachelor's degree in Business or a related field of study. Pro-active and energetic with the ability to thrive in a fast-paced environment. Ability to manage multiple priorities and meet tight deadlines set both internally and externally. Ability to work in a team. Excellent communications and negotiations skills. Strong analytical mindset with exceptional attention to detail. Excellent verbal and written communication skills. Ability to travel from time-to-time, although flexibility provided. Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply. #J-18808-Ljbffr



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