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Senior Compliance Manager, Regulatory Reporting in Troy, MI at North American Bancard

Date Posted: 2/6/2019

Job Snapshot

Job Description


North American Bancard is committed to helping businesses prosper through innovations in credit card processing, ecommerce and mobile payments. We believe in smarter commerce for all and we're committed to building the next generation of payment technologies.


North American Bancard is looking for an innovative leader to manage its Merchant Regulatory Reporting Program that executes the requirements of IRS Section 6050W, specifically as to payments in settlement of transactions made through payment cards and third-party networks.  This role is responsible for end to end compliance, including policy, procedures, communications, training, execution of reporting requirements, and oversight of processes designed to ensure accuracy of information reported.


This role has the potential to be remote with travel required.


 What you'll be doing:

  • Development and execution of Merchant Reporting Program consistent with mandatory reporting requirements, including the requirements of IRS Section 6050W.
  • Establish processes for changes in requirements, including assessing applicability and impacts, ensuring adequate communications to inform our merchants and other key stakeholders, and design and implementation of compliant changes.
  • Perform ongoing analysis of payment settlement entities, intermediaries, payees, and taxpayer identification numbers (TINs), reportable transactions, and amounts subject to backup withholding, to ensure accuracy and timeliness, and to identify early warning signs of inefficiencies and gaps that could impact compliance.
  • Ensure that processes are in place for preparation of annual information returns, for backup withholding, and for implementation of software, vendors or other solutions for use in payee TIN compliance.
  • Develop and maintain training courses to employees, and forum for information dissemination for customers that are subject to reporting requirements.
  • Oversee business lines and activity that directly impacts 6050W compliance. 
  • Establish and review ongoing monitoring and reporting, and actively lead/participate in projects and initiatives where 6050W compliance is impacted.
  • Establish, implement and manage inquiries and issues management and escalations processes for 6050W related inquiries and issues.
  • Management and oversight of third parties that provide services directly to or that impact 6050W compliance.
  • Review and approve marketing materials and communications that are related to 6050W requirements and engage with industry organizations.




Job Requirements

Here's what you'll need:

  • BS degree in accounting
  • Masters in Taxation preferred
  • At least 7 years of accounting or related experience that includes interpretation and application of the IRS tax code.
  • At least 6 years of experience implementing and managing compliance with 6050W, and experience in PCI compliance, working in the payments industry
  • At least 5 years working and communicating directly with customers, and federal and state regulators
  • At least 4 years of people management experience, including a proven ability to lead a team managing and executing diverse functions.


Plus you'll need these skills & abilities:

  • Ability to translate regulations into operational processes, and business and technical requirements.
  • Strong tax research and tax analytical skills
  • Proven ability to communicate, collaborate and manage relationships with high-level internal and external stakeholders, internal and external business partners, and with regulatory and external independent review entities.
  • Strong analytical skills with ability to evaluate strategic, brand, financial, operational, and compliance perspectives to effectuate solutions.
  • Proven ability to develop relationships, negotiate, and problem-solve.
  • Exceptional ability to manage or support multiple programs in a fast-paced environment with changing priorities and significant time pressures.
  • Strategic thinker and tactical executor - able to rapidly shift from “big picture” to “detailed operations”.


License and Certification Requirements:

CPA preferred


Additional Information: 
FLSA Status: Exempt
Direct Reports: Less than 5
Travel Requirements: Up to 10%


North American Bancard reserves the right to alter this description at any time.  North American Bancard practices the concept of equal employment opportunity with respect to hiring, promotions, transfers, pay, discipline, fringe benefits, and all other terms and conditions of employment. No individual will be discriminated against, and no employment decisions will be made, on the basis of an individual's race, color, national origin, religion, age, gender, protected disability, marital status, familial status, veteran status, height, weight or citizenship.


Pay Grade for internal applicant use: 32