Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.5 trillion and operations worldwide. Chase serves nearly half of America’s households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: 5,300 branches, 16,000 ATMs, mobile, online and by phone. For more information, go to Chase.com.
Chase Merchant Services is the global payment processing business for JPMorgan Chase & Co. Commerce Solutions is the world’s leading merchant acquirer with nearly $1 trillion in annual transaction volume in 2016. ChaseNet is a customized closed-loop proprietary payments platform, and Chase Pay is the firm’s new digital wallet that makes mobile transactions simple, safe and rewarding. Commerce Solutions is a leading provider of payment, fraud and data security for companies large and small and capable of authorizing transactions in more than 130 currencies.
The Head of the Payment Network Office has overall responsibility for all JPMC relationships with the payment brands. This includes credit and debit card issuing (Visa and MasterCard) and merchant acquiring (e.g., Visa, MasterCard, American Express, Discover, China Union Pay, regional PIN debit networks). This is a global role that covers our existing businesses in the United States, Canada, and Europe as well as our planned expansion into international markets. The ability to work in a global, highly matrixed organization will be an important aspect of the role. The successful candidate will build strong working relationships both key internal stakeholders including various leadership team members in the credit card issuing business, the consumer bank (focused on debit and ATM), merchant acquiring, and, when relevant, treasury services.
Managing our relationship with Visa will be a critical element of this role. The Head of the Payment Network Office leader will need to closely manage all of our interactions with Visa, including: monitoring the “balance of trade” between Visa, JPMC, and our merchants; closely overseeing the financial impact of Visa actions (e.g., VPP deals, networks fee changes); and assessing the strategic implications of new Visa rules and mandates. The Head of the Payment Network Office will also need to lead the strategic direction on our overall network strategy (in partnership with our payments strategy team), including presentations to senior JPMC leaders including the Operating Committee.
In addition to being a member of the Merchant Services Leadership Team, the Head of the Payment Network Office will be responsible managing the planning and execution of the quarterly “Payment Brand Initiatives” (PBI) for Merchant Services. This involves assessing the various requirements from the networks and then closely managing the IT development and implementation and the communication to merchants of these changes. This leader will need to work closely with our Presidents and RMs to help advocate for our merchants needs and influence the payment brands to drive the best outcomes for our merchants. The Payment Network Office is also responsible for helping address Merchant and RM questions about payment brand rules and the impact of the changes to these rules.
This position works closely and collaboratively with the broader Merchant Services leadership team, including those leading Product, CAO, Operations, Technology and all other enablement functions including Chase’s shared services such as HR, Controls, Compliance, Risk and Legal.
This position reports to the CEO, Merchant Services, and represents a significant leadership opportunity within the Chase organization
This position reports to the CEO, Merchant Services, and represents a significant leadership opportunity within the Chase organization. This person is fully accountable to the CEO of card issuing and CEO of retail bank to ensure to ensure the issuing business priorities are incorporated and addressed in our firm wide relationships with Visa and MasterCard.
The executive is expected to act with a sense of urgency, maintain clear focus on priorities and direct efforts in such a way as to meet or exceed set goals and objectives
Exceptional leadership skills including vision, creativity, presence, and credibility that translate into a collaborative and flexible leadership style, with a strong service mentality
Ability to set and manage accountabilities and expectations at all levels - team members, peers, business partners and key stakeholders and executive management across the CCB leadership
Identify, obtain and analyze critical business needs to challenge the status quo through innovative and deliberate thought leadership
Undergraduate degree required, advanced degree preferred
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