Head of Risk

Team Summary

The role’s key responsibilities will be to maintain trust in that brand, championing security in the industry and differentiating Visa in the eyes of clients and key stakeholders. As a key member of the Singapore, Malaysia & Thailand (SMT) Leadership Team, the position will advise the Group Country Manager, Leadership Team and hub & global functional leads on strategies related to complex operational, financial, legal and regulatory risk exposures.

The successful candidate will lead a small team of Risk professionals, and have in-direct responsibility for all second Line of Defense functions (Compliance etc.). Additionally, the position will draw upon the resources of the Asia Pacific Risk function across the wider region and in the Asia Pacific hub in Singapore. These resources range from other sub-regional CROs, in-market Risk Service Managers, analysts and highly skilled Risk specialists in the areas of compromise management, data security and fraud analytics.

What a Head of Risk (SMT) does at Visa:

Reporting to the Asia Pacific Regional Risk Officer, this role is entrusted with a broad portfolio of responsibilities including Strategic Risk Management for the business, Credit Settlement Risk and Ecosystem Risk (Fraud & Data Security) across SMT. These markets represent a diversity of regulatory environments. This role will interact and represent Visa with Government, Banking and Law Enforcement agencies across each market. These sub-regions includes some of Visa’s fastest growing markets

In addition to overseeing Strategic Risk Management, the Head of Risk will have sub-regional responsibility for championing security in the industry and maintaining the integrity of the payments ecosystem. This complex and fast evolving ecosystem includes issuing and acquiring banks, merchants, cardholders, and service providers such as processors, device manufacturers, and payment gateways.

A key responsibility of the Head of Risk will be the development and implementation of Security Roadmaps for all key markets. Security Roadmaps are a set of market-specific initiatives & goals backed by Visa Rules, mandates and incentives. The roadmaps agreed collaboratively with clients & regulatory bodies, driving improvements in the security posture of the industry – underpinning Visa’s reputation in security. Historically roadmaps included EMV adoption, PCIDSS adoption, 3-D Secure adoption and Consumer Awareness campaigns.

The Head of Risk will develop comprehensive Country Risk Plans, security priorities and execute strategies to prevent fraud, enhance user authentication, safeguard sensitive data, identify and respond to data breaches and prevent the misuse of the payment system for unlawful purposes. The Head of Risk will also be responsible for representing Visa’s Credit Settlement Risk policy to protect Visa against financial loss in the case of a failure of an issuing or acquiring bank.

Key Responsibilities:

• Develop and execute a comprehensive risk plans that is consistent with local market landscape, country priorities and global risk strategy.
  • Execute both internal and external risk management programs
  • Lead client forums (SMT Risk Councils, working groups, etc.)
  • Promote & support client adoption of Visa risk products / solutions / initiatives
  • Identify new, creative win-win methods to reduce and mitigate payment system risk, fraud and cardholder data security risks
  • As a member of the SMT Leadership Team, serve as a trusted & strategic advisor to the Group Country Manager on all risk issues
• Prepare reports, briefings and other written products to update executive management on risk activities, issues and opportunities.
  • Convey risk-related trends and developments to local country manager and leadership team through regular reporting
  • Synthesize marketplace feedback regarding the effectiveness of Visa’s risk management strategy and programs, benchmark Visa’s performance relative to other payment networks and participants
  • Guide Visa’s proactive risk communications and collaboration across all of these stakeholders so as to advance the safety, security and long-term growth of the Visa payment system
• Lead the responsible innovation initiative by assisting Visa and its clients mitigate risks and embrace new technology improvements.
  • Assess emerging/innovation risks and new business models
  • Leverage local insights to contribute to Risk thought leadership
  • Guide clients through payment innovation complexity
• Manage relationships with issuers, acquirers, merchants, payment processors, service providers, regulators and law enforcement to:
  • Resolve fraud & data breach events
  • Provide stakeholder training
  • Respond to ad hoc complex queries & analytics requirements
  • Identify opportunities to enhance the payment ecosystem and advance risk management best practice
  • Foster constructive relationships with local market regulators and law enforcement agencies

Why this is important to Visa :

Visa owns the most recognizable global brand in the financial services industry. The key responsibilities will be to maintain trust in that brand, championing security in the industry and differentiating Visa in the eyes of clients and key stakeholders.

As a key member of the SMT Leadership Team, the Head of Risk will advise the Group Country Manager, the SMT Leadership Teams and hub & global functional leads on strategies related to complex operational, financial, legal and regulatory risk exposures.

The successful candidate will directly lead a small team of Risk professionals, client-facing Risk Service Managers based in Singapore. Additionally, the Head of Risk will draw upon the resources of the Asia Pacific Risk function across the wider region and in the Asia Pacific hub in Singapore. These resources range from other sub-regional Risk leads, in-market Risk Service Managers, Risk managers, analysts and highly skilled Risk specialists in the areas of compromise management, data security and fraud analytics.

Requirements

What you will need:
The ideal candidate is an accomplished enterprise and operational risk leader with deep experience in the payments industry. While candidates with payments experience (networks, processors, financial institutions) are preferred, candidates from other multi-national, technology based, transactional businesses (e.g. large retailers) would also be considered.
Visa may also consider candidates with a track record for leading within a sound, well respected, multi-national, regulated business.
Regardless of the business pedigree, candidates must possess a deep intellect capable of understanding both current and emerging risks facing the business. Candidates must also demonstrate a track record for using that understanding to develop effective risk mitigation strategies and to sell those strategies to colleagues internally. The ability to influence senior level decision makers and to partner closely with the business is most critical.
Finally, a high degree of self-confidence, humility and energy will be essential to succeed in a fast paced and evolving industry.

What will also help:
Risk Experience
Track record for successfully identifying and mitigating enterprise and operational risk for a complex, global company in a regulated industry.
Experience protecting consumer and corporate data through the development and implementation of rigorous compliance & rules management processes.
Demonstrated approach to risk management contributing to brand and business growth.
Strategic and Analytic Skills
Understands both at a strategic and operational level the myriad risks facing the business, drives down to root causes to assess the severity of the risk, the cost of remediation, and develops an appropriate action plan.
Maintains strong personal base of knowledge with respect to risk management, industry practices, trends, and issues.
Collaboration and Communication
Works cross-functionally with technology and with business unit heads to deliver insights that drive key business strategies and decisions.
Works effectively with clients and external stakeholders – banks, processors, regulators.
Proven ability to influence, collaborate, and work in matrix environment.
Executing for Results
Intellectually curious, finds stories in the data, asks the right questions, demonstrated track record of mining data & intelligence for game-changing insights that generate big impacts.
Gets things done, relentlessly focuses on results, aligns efforts with business objectives.
People Leadership
Provides leadership, sets vision, and motivates a team.
Experience developing talent and infusing knowledge and experience across wider organization.
Other Exposure and Education Required
Global and deep knowledge of the payments industry and the major trends affecting the major stakeholders, including regulatory, market environment, competitive landscape, technology and the rising threat of data breaches.
15+ years of experience in leadership across technology products/ solutions, or similar years of experience in a leadership position within a financial institution, potentially as a key customer for Visa’s services on the client side.
Solid general management background, with proven track record in strategic thinking, financial planning, risk management, relationship building and project leadership.
Extensive international experience or work experience in a multinational corporation preferred.
Undergraduate degree from top-tier institution required. Graduate degree with a focus on general management will be preferred.