Operations and Third Party Risk Manager

TITLE: VP / Operations and Third Party Risk Manager STATUS: Exempt
MANAGER: Chief Operating Officer
DEPARTMENT: Payments & Fintech Partnerships DATE: August 2025

GENERAL FUNCTION:
The Operations and Due Diligence Manager is responsible for oversight and improvement of processes and systems in the Payments & Fintech Partnerships (PFP) area. The Manager will also function as the first line of defense and quality control within the PFP Department by conducting holistic due diligence reviews of third-party vendors, merchants, and program managers consistent with bank policy. Responsible for partnering with AML and PFP Compliance departments to ensure regulatory, contractual, and procedural compliance.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Work collaboratively with PFP Team to request and review due diligence documentation, and prepare summary analysis and risk assessments for vendors, merchants and program managers.
Maintain master schedule and recordkeeping for ongoing due diligence reviews ensuring timely completion.
Maintain master schedule for updates to department policies, risk assessments procedures
Conduct periodic file audits to ensure compliance with department procedures
Coordinate documentation requests from bank’s vendor management department and regulatory agencies
Facilitate interdepartmental reviews as required by policy
Identify and track new regulatory requirements or changes to existing regulatory requirements as related to third party due diligence
Working closely PFP compliance team to develop comprehensive quality control reviews to reduce risks and promote operational efficiency.
Direct management responsibilities for the operations team within Payments & Fintech Partnerships.
Drive continuous process improvements
Mentoring team members and investing in their growth
Cultivate excellent relationships with internal stakeholders of various levels in Compliance, BSA/AML, Project Management, Treasury Management, IT, and Retail Banking
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
Extensive experience working in due diligence and operations at a Sponsor Bank involved with issuing and acquiring programs as well as third-party payment processing (TPPP).
The ideal candidate will thrive at the intersection of business operations, product, data, compliance, technology
Strong track record of building efficient processes and understanding the due diligence and compliance requirements associated with issuing and acquiring programs as well as TPPP at a Sponsor Bank.
Ability to manage deadlines, be organized, detail-oriented, and complete responsibilities with a high degree of accuracy
Must have a high degree of analytical skills, customer service, and communication skills, both verbal and written
Ability to make independent decisions and use appropriate judgment
Ability to work creatively with strong problem-solving skills
Ability to manage multiple responsibilities simultaneously
Proficient use of MS Office Suite of Products (Word, Excel, Power Point, Outlook) is a must
EDUCATION and/or EXPERIENCE
5+ years of operations and due diligence experience at a Sponsor Bank, preferably acquiring, issuing, TPPP, and fintech
Recent experience with Card Issuing, Acquiring, Fintech Relationships, OCT/AFT, Real Time Payments, and major card processors preferred
Experience with product management
Experience creating operational procedures and risk management guidelines for various verticals or product areas
Proven experience in leading strong operational teams
ADDITIONAL RESPONSIBILITIES:
Every employee of Republic Bank is responsible for knowing and practicing Bank Secrecy Laws (AMUCIP/SAR/CTR/OFAC), the USA Patriot Act, and other related regulations as they relate to their specific job function. Training will be provided during your Introductory Period and annually thereafter. If you need additional training, you are responsible for contacting your immediate supervisor.
WHAT WE OFFER
As part of our commitment to your physical, emotional, and financial wellbeing, we proudly provide a comprehensive benefits package, which includes:
A competitive salary range estimated at $135,000 - $160,000 annually for this position. (Final compensation may vary based on experience, skills, and qualifications)
Generous Paid time Off (PTO) to help you rest, recharge, and take care of what matters most
Health, dental, and vision insurance with tax-advantaged FSA and HSA account options
Retirement benefits including 401k plan with discretionary matching contributions.
Childcare assistance program to support working parents and their eligible dependents
Parental Leave for both primary and secondary caregivers
Short-term and long-term disability coverage for long-term income security
Basic Life and AD&D insurance with elective additional coverage for you, your spouse, or children
Mental health & wellness benefits including bank-paid Headspace meditation app subscription and access to our Employee Assistance Program
We look forward to working with you and to the contributions you will make to Republic Bank of Chicago, as well as the opportunity to provide you with professional growth. However, we recognize that you retain the option, as does Republic Bank of Chicago, of ending your employment with us at any time, with or without notice and with or without cause. As such, your employment with Republic Bank of Chicago is at-will and neither this job description nor any other oral or written representations may be considered a contract for any specific period of time.

United States
Illinois
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