Senior Manager, Risk Management

Visa is a world leader in payments and technology, with over 259 billion payments transactions flowing safely between consumers, merchants, financial institutions, and government entities in more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive while driven by a common purpose – to uplift everyone, everywhere by being the best way to pay and be paid.

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Visa partners with internal and external stakeholders for championing security in the markets and maintaining the integrity of the digital payments’ ecosystem. With the increased regulatory oversight in some of the markets, Visa is keen to strengthen its Regulatory, Statutory, Legal and Supervisory team by hiring regulatory audit and compliance expert specialist in the market. 

The chosen team member is required to be aware of RBI mandates around Payments and Settlement Audits, Outsourcing requirements for PSOs by RBI, Card on File Tokenization and Device Tokenization. She should have handled submissions to RBI and should be capable of engaging with the Token System Participants/ Visa business teams and should be able to guide them on the requirements of the audit. She should have expertise in project managing the audit/RBI submissions by working very closely with the stakeholders. The role will require the person to work very closely with the Token System Participants and with Visa’s auditor for RBI mandated audits in India market. The responsibilities include    

With Token System Participants

• The team member has to actively manage the RBI audit programs for Visa and its Token System participants ie TSPs
• She/He has to engage and respond to queries on the scope of the audit requirements to the TSPs. The list of TSPs is likely to expand in future as more and more entities adopt the RBI mandate on tokenization Setup
• Setup Industry workshops/ bilateral calls with TSPs along with Visa’s audit partner
• Follow-up on the audit reports to be submitted by them to Visa
• Engage the TSPs on the outstanding audit observations in their reports.
• Collate System Audit Reports of Visa’s Token Service Participants

With Visa’s Auditors

• Assess whether adequate controls are put in place by Visa to ensure certification of tokenization, PSS, Outsourcing an other audits for Visa and for tokenization audit setup of TSPs.
• Examine the System Audit Reports of TSPs and confirm that it contains item wise compliance status on each requirement specified in the relevant tokenization regulations.
• Liaison between Deloitte and TSP for queries, tracking progress of report submissions and closures of queries that Visa's audit partner may have for TSPs.
• Track the status of open items and co-ordinate for timely closure of any audit observations in TSPs SARs.

With Visa’s Stakeholders

• Engage the internal stakeholders on the status of audit report submissions/ appointments of auditors by TSPs, challenges faced by TSP, support needed by TSPs
• Track the progress of audit report submission of individual TSPs
• Periodically publish internal management updates on the status of the audit
• Support Visa teams in organizing calls, virtual sessions for the TSPs   

The resource will also help Supervisory Risk team

• finalize the audit report issued by Deloitte to ensure it contains item wise response from the auditor on each requirement specified in relevant tokenization regulations
• follow up with Visa audit partner and TSPs once RBI comes back with the queries post submission of the audit report.
• Participate in RBI Inspections responses, manage RBI onsite and offsite supervisory exams, liase with RBI supervisory teams

• Bachelor’s Degree or equivalent
• 10+ years of relevant experience in one of the following functions: Corporate, Risk Governance, Risk Management, Compliance, Audit, Regulatory Management, Legal or related areas
• Awareness of regulator management
• Understanding of current and emerging payment system regulatory trends in Asia Pacific
• Experience in preparing and reviewing/delivering executive level communications
• Awareness of payments or banking or related segments, or alternately, good understanding of payments business and associated risks
• Positive, proactive and solution oriented and be a problem solver who finds ways to overcome challenges and get things done
• Has initiative and driven to go beyond the minimum requirements

Visa is an EEO Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability or protected veteran status. Visa will also consider for employment qualified applicants with criminal histories in a manner consistent with EEOC guidelines and applicable local law.