Royal Bank of Canada
Senior Manager, Business Operations Merchant Payment Services
Royal Bank of Canada, Toronto, ON
Job Summary
Job Description
What is the opportunity?
The payments and digital commerce ecosystem in Canada is rapidly evolving. RBC's strategy is to be at the center of commerce and strengthen our merchant acquiring asset (Moneris) to compete more effectively against Big Tech competitors, who are using merchant payment acceptance as an entry wedge to expand into broader Consumer & Business Financial Services. While Moneris continues to be Canada's market share leader, Merchant Acquiring is a key Big Tech battleground and a critically important strategic asset to RBC & Bank of Montreal, our Joint Venture ("JV") partner.
RBC's Merchant Payments Services ("MPS") team leads a multi-pronged business:
(1) running our Moneris JV governance, ongoing business operations & driving business growth through a comprehensive acquisition & retention strategy;
(2) transforming for tomorrow through the Moneris Transformation Program (MTP), focused on ensuring Moneris is a best-in-class payments partner of choice for Canadian businesses, offering fully integrated and holistic business solutions to merchants, in partnership with its shareholder banks RBC and BMO;
(3) driving step change growth & long-term competitiveness in merchant acquiring by exploring emerging payments strategies and partnership opportunities.
In this role you will be part of the Merchant Payment Services business operations team and work with a diverse set of internal & external stakeholders supporting our Moneris JV and driving our bold ambitions for the future.
What will you do?
What do you need to succeed?
Must-have:
Nice-to-have:
What's in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
Job Skills
Business, Business Operations, Business Process Design, Business Process Modeling, Business Risks, Credit Card Processing, Financial Processing, Legal Practices, Merchant Acquiring, Payment Handling, Payments Industry, Requirements Analysis, Workflow Analysis
Additional Job Details
Address:
RBC WATERPARK PLACE, 88 QUEENS QUAY W:TORONTO
City:
TORONTO
Country:
Canada
Work hours/week:
37.5
Employment Type:
Full time
Platform:
PERSONAL & COMMERCIAL BANKING
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2024-09-27
Application Deadline:
2024-10-11
Inclusion and Equal Opportunity Employment
At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.
Join our Talent Community
Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.
Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.
Job Description
What is the opportunity?
The payments and digital commerce ecosystem in Canada is rapidly evolving. RBC's strategy is to be at the center of commerce and strengthen our merchant acquiring asset (Moneris) to compete more effectively against Big Tech competitors, who are using merchant payment acceptance as an entry wedge to expand into broader Consumer & Business Financial Services. While Moneris continues to be Canada's market share leader, Merchant Acquiring is a key Big Tech battleground and a critically important strategic asset to RBC & Bank of Montreal, our Joint Venture ("JV") partner.
RBC's Merchant Payments Services ("MPS") team leads a multi-pronged business:
(1) running our Moneris JV governance, ongoing business operations & driving business growth through a comprehensive acquisition & retention strategy;
(2) transforming for tomorrow through the Moneris Transformation Program (MTP), focused on ensuring Moneris is a best-in-class payments partner of choice for Canadian businesses, offering fully integrated and holistic business solutions to merchants, in partnership with its shareholder banks RBC and BMO;
(3) driving step change growth & long-term competitiveness in merchant acquiring by exploring emerging payments strategies and partnership opportunities.
In this role you will be part of the Merchant Payment Services business operations team and work with a diverse set of internal & external stakeholders supporting our Moneris JV and driving our bold ambitions for the future.
What will you do?
- Become a deep subject matter expert in Merchant Acquiring, working closely with Director & MPS team, expanding RBC Institutional Knowledge given the critically of this work.
- Develop payment industry knowledge to help inform improvements to our Moneris Joint Venture and/or articulate distinct differences to inquiring stakeholders
- Review & optimize end-to-end business, technical and operational components of our Merchant Acquiring business, to enable Moneris and RBC.
- Share knowledge of the payment processing transaction flow from the point of sale (purchase between a consumer & a merchant interaction), all the way through to the clearing and settlement (between financial institutions and network schemes) with cross-functional stakeholders in both complex technical terms when needed but also in simple terms, according to the audience.
- Collaborate and contribute to the Merchant Payment Services team on all aspects of the business operations, legal agreements, and Moneris Joint Venture operating model.
- Proactively engage across all key internal partners (Finance, Technology, Operations, Legal, Compliance, Business Risk, etc.) and external (Moneris, BMO, etc.) partners to ensure business continuity, stability, and growth.
- Assist in the analysis and synthesis of Moneris materials (e.g., financials, Board presentations, risk documentation etc.) with particular attention to overall risk management, resiliency, compliance, and business fundamentals, taking a balanced view to growth and business results.
- Leverage industry trends and customer experience insights, market research, data & other insights to inform decisions.
- Evaluate current state and evolve future state model taking into consideration greater operational efficiency and understand how those can make Moneris more competitive in the marketplace and grow their market share and reduce the overall processing costs.
- Investigate and remediate escalations and incidents with cross-functional stakeholders, taking an owner-operator mindset.
- Lead key initiatives such as streamlining risk governance, technical infrastructure migration, vendor renewals, etc. from strategy & executive buy-in, to PAR, through to execution
What do you need to succeed?
Must-have:
- Keen interest to carve out deep subject matter expertise in Merchant Acquiring and/or Payments with intention to have a long tenure in role.
- Experience in successfully developing and executing complex products and processes.
- Strong stakeholder management with experience working in cross functional teams.
- Results oriented with strong business, financial, compliance and legal acumen.
- Strong presentation, verbal & written communication skills
- Strong organization skills s
- Ability to impact and influence across a wide range of internal and external stakeholders.
- Ability to thrive in a fast paced, ambiguous environment with evolving priorities.
Nice-to-have:
- Prior experience working in Enterprise Payments, Cards, BFS, Operations or Technology.
- Prior experience working externally for a large scale payments competitor or network scheme.
What's in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
- Leaders who help your development through coaching and managing opportunities
- Ability to make a difference and lasting impact
- Work in a dynamic, collaborative, progressive, and high-performing team
Job Skills
Business, Business Operations, Business Process Design, Business Process Modeling, Business Risks, Credit Card Processing, Financial Processing, Legal Practices, Merchant Acquiring, Payment Handling, Payments Industry, Requirements Analysis, Workflow Analysis
Additional Job Details
Address:
RBC WATERPARK PLACE, 88 QUEENS QUAY W:TORONTO
City:
TORONTO
Country:
Canada
Work hours/week:
37.5
Employment Type:
Full time
Platform:
PERSONAL & COMMERCIAL BANKING
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2024-09-27
Application Deadline:
2024-10-11
Inclusion and Equal Opportunity Employment
At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.
Join our Talent Community
Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.
Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at jobs.rbc.com.