The Risk Management (RM) Director serves as the "Head of Risk" for the office, countries, Sub-Region, or Region they cover.

The role holder’s primary obligation will be to lead and manage the end-to-end relationship with Visa Clients and partners in South Africa across all risk dimensions.

Externally, the RM Director’s responsibility is to ensure Visa’s interactions with clients, merchants, regulators, and other third parties on risk-related matters are well informed, effective, and collectively moving the Visa ecosystem towards a stronger state.

Internally, the RM Director’s obligation is to leverage our market knowledge and presence to ensure Visa’s risk-related policies, programs, and frameworks are aligned with current and future business demands.

The RM’s work begins with delivering on the traditional role of engaging clients, merchants, and other stakeholders to mitigate fraud and data compromise events, promote stronger authentication and data security, and help enforce Visa’s external risk programs and policies.

Relationships are strengthened as we provide additional insights and support against a broader set of risk-related issues and activities, including client fraud and approval optimization, credit settlement risk, anti-money laundering, deployment of Visa Risk Products, the use of third parties, and deployment of emerging technologies.

Lastly, we strengthen Visa shareholder value by promoting good information flow around strategic, regulatory, and other risks to the Visa enterprise, and minimizing audit and compliance concerns.

Principle Responsibilities/Key Results Area

Five core principles provide a foundation for our work in Risk Management.

Market Knowledge : Maintain a heightened awareness of the country/regional business environment, the payment system, and other risks to clients operating in each market, and the past and present tactics being deployed to mitigate these risks.
Business Alignment : Align Visa’s risk-related objectives and activities with Visa’s business goals in the same area to maximize long-term growth.
Relationship Management : Engage key stakeholders (clients, law enforcement, government, and others) to secure support for Visa’s goals and address identified risks.
Thought Leadership : Differentiate Visa by demonstrating thought leadership to payment system stakeholders on risk issues, pulling from local, regional, and global sources.
Communication : Ensure strong communication and provide marketplace feedback around Visa’s risk-related programs and policies, and other activities.

Strategic Nature, Management Accountability, & Scope

RM teams may produce a wide range of deliverables for issuer and acquirer clients, merchants, Visa management, and others:

Market Knowledge
South Africa is a key contributor to Visa Sub Saharan Africa business with a share of over 70% of SSA business. It is critical that the incumbent has a deep understanding of the key market drivers.
Monitor local risk-related trends and developments (e.g., fraud schemes and trends, relevant regulatory changes).
Analyze information to identify insights and highlight opportunities to improve security and reduce fraud to maximize business growth.
Business Alignment
Support Visa’s country-specific/regional business goals by executing in-country initiatives and conducting client/industry engagement.
Take the lead in protecting the payment ecosystem by proactively managing Visa’s Ecosystem Integrity programs with internal & external stakeholders.
Develop and execute a Country Risk Plan (CRP) that supports the risk priorities and business drivers of Visa and the country; update the CRP at least twice per year, with a view at least 12 months towards the future.
Align Risk Management activities with Sales engagement methodology and process.
Promote Visa Risk Products to differentiate Visa from the competition and domestic payment systems.
Relationship Management
Be the primary Visa risk expert advisor to our key clients in the market (FNB, Absa, Discovery, Nedbank, Standard Bank, Investec) and all other clients & partners in the southern cluster.
Tier clients to prioritize and structure engagements to focus on the clients with the greatest potential to improve their fraud and risk performance, and in line with Visa’s key business relationships.
Drive risk engagement and provide focus to Key clients, fintechs, merchants, and emerging payment stakeholders.
Develop and execute a client engagement plan and materials to help clients optimize fraud performance; determine type and frequency of engagements.
Maintain a list/database of key internal and external client contacts and a client engagement calendar.
Develop and execute a constructive engagement plan for external payment system stakeholders (law enforcement, government, etc.).
Maintain a list of key external stakeholder contacts.
Write and distribute meeting notes (including meeting participants, insights, and action items) for key engagements/meetings and track progress on action items.
Summarize key Risk Services activities for Visa senior management – weekly, monthly, and as needed; identify key wins, hot issues, and other major developments.
Work closely with the business to further build strong partnerships with the government and support implementation of payments digitization projects within the geography.
Thought Leadership
Orchestrate client meetings (e.g., sub-regional Risk Executive Councils, meetings) and industry forums (Risk Summits) of payment system stakeholders (e.g., clients, law enforcement, regulators, industry participants) to drive greater awareness and support for Visa’s payment system risk strategy.
Be the point of reference in all risk-related engagement with the regulatory body SARB (South African Reserve Bank) and Industry body PASA (Payments Association of South Africa).
Differentiate Visa as an electronic payments leader by providing clients and other stakeholders with value-added insights, best practices, conduct onsite market fraud prevention seminars (or webinars) and educational materials.
Differentiate Visa, in coordination with Corporate Relations, via media messages on our Risk Strategy and services.
Positively influence regulations and risk/security-related practices to ensure a strong payment ecosystem, and a growth environment for Visa, its clients, and the industry.
As required, create and drive Payment Security Roadmaps to address emerging risks for key markets within the southern cluster.
Communication
Document and share Risk activities, insights, and successes via clear and concise executive-level reporting and other communications.
Ensure consistent messaging to align risk communications with business priorities and strategies.
Provide feedback from client and other interactions with internal SMEs, focusing on making Visa’s risk-related programs, policies, and frameworks more impactful.
Relay any intelligence of an enterprise risk nature to the appropriate local and global ERM staff, so that information may be incorporated and shared across geographies.
Decision Making & Complexity
The RM Director is responsible for all Clients within the South Africa cluster.
Identify emerging fraud trends and propose countermeasures within the sub-region.
Work closely with clients to address their risk priorities and support their risk strategies.
Determine key Value-added risk services (VAS) through solutions, projects, and other initiatives.
The Director Risk Management does not have staff management responsibilities.
The RM Director may manage a financial year T&E and meeting budget under the guidance and within the cost center of the Head of Risk for Sub Saharan Africa Sub-Region.
Reporting Relationship

The Risk Management Director reports to the Head of Risk for the Sub-Saharan Africa Sub-Region with a matrix reporting line to the Country Manager – South Africa.

Ability to communicate effectively at Senior level within Visa and externally.
Ability to work in a team and to develop cross-functional working relationships.
Ability to create a risk management vision, develop an understanding of the initiatives to drive towards that vision and to prioritize activities to successfully implement initiatives.
Ability to speak at national conferences and at local seminars and workshops.

Key Performance Indicators
Projects and initiatives – delivered to approved plan and as per target KPIs.
Performance feedback from clients, law enforcement, Visa country management, and Risk leadership.
Compliance to risk management plans.
Communications – client and media testimonials.
Fraud rate and secure authentication trends in markets managed.

Skills & Qualifications
Professional
At least 10 years risk management / payments experience gained through consumer banking, technology, and/or card operations.
Degree qualified, post-graduate qualifications preferred.

Technical
Computer skills in Microsoft Office and related software.
Data analysis skills.
Payments Risk or Security / Payments related Certifications / knowledge or relevant technical skills are an advantage.
Knowledge of card crime laws and prosecution are also an advantage.

Business
Consumer banking and card operations experience.
Understanding Visa operations, products, and services.
Risk management expertise.
Teamwork and proven track record of cross-functional collaboration across diverse teams and markets.
Customer service experience.
Presentation, training, and negotiation skills.
Public Speaking and Media engagement.

Executing for Results
Intellectually curious; find stories in the data, ask questions, demonstrated track record of mining data & intelligence for game-changing insights that generate big impacts.
Closer: gets things done by relentlessly focusing on results while aligning efforts with the business objectives.

Preferred Experience (education, skills - professional/technical/business)
Deep experience of working in and especially leading teams across multiple markets with proven track record of cross-functional collaboration and leadership of diverse teams.
Flexible and resilient leader as demonstrated by adaptability, professional maturity, and ability to manage by influence.

Visa is an EEO Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, or protected veteran status. Visa will also consider for employment qualified applicants with criminal histories in a manner consistent with EEOC guidelines and applicable local law.

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