VP, Payments

SUMMARY

The VP of Payments is responsible for the oversight and management of the Payments team, with full operational responsibility for the accurate and timely processing of ACH, checks, payments, mobile deposits, and all other payment systems within the credit union. This individual will manage daily operations, ensuring department efficiency while ensuring staff adherence to all policies, procedures, and regulatory requirements. The VP of Payments will also assign development plans and set goals, aligning team efforts to support the strategic initiatives, objectives, and core mission of the credit union.

Additionally, the VP of Payments will lead the development and execution of the credit union’s payment strategy, which includes researching emerging payment channels, staying informed on industry trends, and identifying key initiatives for execution. They will also be responsible for formulating strategies for the credit card portfolio, including pricing, promotional strategies, fraud mitigation, and portfolio growth initiatives. The VP of Payments will manage the portfolio of payment-related projects and initiatives, ensuring timely status updates to management and clear, effective communication across the organization.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Education and/or Experience: A Bachelor of Science degree in Business Management or a related field, along with a minimum of 7 to 9 years of relevant management experience. Must have knowledge of payment systems, UCC, Federal Reserve banking rules, and applicable State and Federal laws. Must have experience managing or performing the following functions: ACH, wires, check processing, and debit and credit card processing.  Demonstrated leadership roles in previous positions desirable.
• Certificates, Licenses, Registrations: Certification in ACH preferred.
• Geographical Location: This position may be eligible for a flexible work arrangement. Individuals working in this position must be located within the state of California.

ESSENTIAL FUNCTIONS

• Strategic Leadership

• • Develop, implement, and manage the credit union’s payments strategy, ensuring successful execution of key initiatives.
  • Develop, implement, and oversee the credit union’s credit card strategy, ensuring the successful execution of associated initiatives.

• Team Leadership and Development

• • Manage, mentor, and develop a high-performing team responsible for payment operations while addressing staff performance and behavioral issues in a timely and thorough manner.
  • Foster a collaborative environment and provide leadership to ensure effective team performance.
  • Set clear performance expectations and conduct regular evaluations.
  • Ensure department productivity by providing continuous coaching and development of direct reports,
  • Ensure the department is sufficiently staffed to meet business needs, while ensuring compliance with State and Federal labor laws.
  • Present job efficiency enhancements to ELT to enhance workplace satisfaction and productivity.

• Payment Systems and Operations

• • Oversee the day-to-day management of payment systems, including credit card processing, ACH, wire transfers, and alternative payment methods. Ensure that essential transactions are processed in a timely and accurate manner. 
  • Ensure secure, efficient, and cost-effective payment processing, managing relationships with third-party vendors and payment processors.
  • Monitor payment performance, resolve issues, and identify areas for improvement.

• Maintain thorough and current knowledge of all Federal, State, and Local regulations as well as internal policies, procedures, products, and services.
• Provide insight and feedback from our member base to applicable ELT to ensure member experience is a high priority.
• Work with outside vendors to implement new and optimize the configuration of existing products/services to better our value proposition to our members.
• Attend meetings both on-site and off-site, as well as occasional travel for conventions.
• Compliance with the Bank Secrecy Act, OFAC, and USA PATRIOT Act, including but not limited to reporting suspicious activities to supervisor and BSA Officer.

KNOWLEDGE, SKILLS, AND ABILITIES

• Strong verbal, written, and phone communication skills with demonstrated ability to communicate professionally at all levels
• Effective interpersonal skills and ability to lead and work with all levels of staff and members in a professional, approachable, and positive manner
• Ability to handle multiple tasks simultaneously and changing priorities in an efficient and effective manner
• Ability to maintain strict confidentiality
• Ability to conduct thorough research; interpret and understand laws and regulations, and provide workable recommendations and solutions to problems
• Broad knowledge of, and practical experience with operations functions, products and services and the laws and regulations which affect the Credit Union
• Detail-oriented, self-starter who can work independently
• Maintain thorough and current knowledge of all federal, state, and local regulations as well as internal policies, procedures, products and services
• Computer literate and proficient in software applications, financial analysis programs, Adobe Acrobat, online research tools, and MS Office:  Word, Excel, PowerPoint, and Outlook. Hungry: Demonstrates a strong drive for continuous learning, growth, and expanded responsibility. Self-motivated, diligent, and proactive in identifying the next step and the next opportunity to contribute.
• Hungry: Demonstrates a strong drive for continuous learning, growth, and expanded responsibility. Self-motivated, diligent, and proactive in identifying the next step and the next opportunity to contribute.
• Humble: Operates with low ego and high respect for others. Actively recognizes and elevates the contributions of teammates, prioritizing collective success over personal recognition. Approaches work with openness, respect, and a collaborative mindset, welcoming diverse perspectives and constructive feedback.
• Works Intelligently: Demonstrates strong situational awareness and sound judgment. Understands group dynamics, uses intuition, emotional intelligence, and thoughtful decision-making to navigate complex interactions to achieve the best outcomes.
• Visionary Leadership: Builds trust, inspires engagement, and motivates others to perform at their best. Encourages feedback, fosters accountability, and leads with transparency and strategic foresight. Articulates a clear and compelling vision aligned with organizational goals.

PHYSICAL REQUIREMENTS

The physical demands described below are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the position’s essential functions.

• Full-time hours required, with additional work hours as necessary to accomplish objectives, goals, and projects.
• Occasionally lift and/or move up to 10 pounds.

EEO STATEMENT

Mirastar encourages diverse applicants to apply for all positions. Mirastar does not discriminate in employment opportunities or practices on the basis of race, color, religion, creed, sex, familial status, marital status or domestic partner status, national origin, age, disability, marital status, pregnancy, childbirth, breastfeeding or related condition, ancestry, medical condition including genetic characteristics, veteran or military status, sexual orientation, gender identify, gender expression, any persons holding an undocumented “AB 60” driver’s license, or any other characteristic protected by law. This provision also includes the perception that anyone has any of the above characteristics or is associated with a person who has or is perceived as having any one of these characteristics. Discrimination based on any of these protected classifications is unlawful and is a violation of company policy. The Company makes all employment decisions without regard to these protected statuses and does not tolerate harassment or discrimination.

This job description is not an exclusive or exhaustive list of all job functions that an employee in this position may be asked to perform from time to time. Mirastar Federal Credit Union reserves the right to revise or change job duties and responsibilities as the need arises.