Inventum are thrilled to be working directly with an international payment and E-money specialist who are looking for their next Head of Card Payments / Head of Fraud to join them on a permanent basis.
Salary: £110,000 - £130,000 per annum + Benefits.
Location: London or Cyprus (Open to relocating the right candidate + full relocation package).
Job Description
We are seeking an experienced and strategic Head of Card Payments Risk with a deep expertise in both card issuing and acquiring. The role will lead and optimize the card payments risk across operational, compliance, and fraud dimensions, ensuring the organization aligns with industry standards and delivers secure, efficient services to its stakeholders.
The successful candidate will be responsible for the risk management framework for card issuing and acquiring, ensure compliance with scheme requirements, and guide the company’s approach to fraud prevention and chargeback management. The role also includes training and collaboration with Customer Support teams to enhance card-related operations and dispute resolution processes.
Responsibilities:
Risk and Compliance
- Develop and maintain fraud risk frameworks specific to card issuing/acquiring, including fraud-to-sales ratios and chargeback monitoring.
- Collaborate with IT, Compliance, and the CISO to ensure PCI DSS compliance and robust cardholder data protection.
- Establish processes for detecting and managing emerging fraud patterns (e.g., smishing, phishing, synthetic identities).
- Regularly review and assess card scheme compliance, ensuring readiness for scheme audits and minimizing the risk of enhanced monitoring programs.
Card Issuing and Acquiring
- Oversee the card issuing and acquiring operations with respect to Risk, Fraud and Chargebacks for card programs, ensuring effective oversight of the entire card ecosystem.
- Manage relationships with key stakeholders such as card networks, processors, and third-party service providers ensuring that all transactions align with compliance requirements and internal risk strategies.
- Monitor scheme rules updates, assess their impact on operations, and providing training and updates to relevant teams.
- Ensure compliance with high-risk merchant category codes (MCCs) and implement risk mitigants (e.g., rolling reserves, delayed settlement periods).
Financial Management and Reporting
- Track card payment KPIs, including chargeback ratios, fraud detection rates, and compliance-related costs.
- Develop early warning systems to identify and address issues related to fraud and chargeback thresholds.
- Provide detailed reporting on fraud trends and scheme compliance performance to senior management.
Strategic Leadership
- Develop and execute the company’s card payments risk strategy, ensuring alignment with overall business objectives and risk appetite, and customer service.
- Drive innovation in card fraud prevention and risk solutions to improve operational efficiency and customer satisfaction.
- Lead cross-functional efforts to implement risk strategies that support card issuing/acquiring and market growth.
- Monitor and proactively manage emerging risks in the card payments ecosystem.
- Market Analysis and Industry Trends: Stay updated on the latest card payment industry trends and advancements, particularly around fraud detection, scheme rules, and compliance innovations.
Qualifications
- Bachelor’s degree in Finance, Business, Technology, or a related field. Master’s degree or equivalent is a plus.
- 10+ years of experience in the card payments industry, with a strong focus on card issuing and acquiring.
- Proven experience in managing relationships with card networks (e.g., Visa, Mastercard), and third-party providers.
- Deep understanding of the regulatory and compliance landscape (e.g., PCI-DSS, PSD2, AML/KYC).
- Demonstrated expertise in fraud prevention and chargeback management, including developing and implementing effective risk frameworks.
- Experience with payment platforms, fraud detection technologies, and machine learning applications in fraud prevention
- Strong leadership skills with a proven track record in mentoring high-performing teams.
- Excellent problem-solving, communication, and stakeholder management skills.
