Director, Risk Business Partner, Issuing Solutions - job 26 of 46

The Director, Risk Business Partner at Visa is tasked with managing and improving Issuing Solutions’ risk management capabilities. Key responsibilities include collaborating with product teams to enhance risk practices, leading a team to identify and mitigate risks, and providing significant updates to Visa’s Senior Management about potential risks. This role involves driving compliance with risk programs and ensuring effective controls that protect Visa’s interests.

To qualify as a Director, Risk Business Partner at Visa, candidates should have a deep understanding of the payments industry, demonstrated experience in risk assessment related to business strategies, and excellent communication skills. A background in risk management frameworks and compliance programs is essential, along with a collaborative spirit to work across diverse teams.

The Director, Risk Business Partner at Visa plays a vital role in fostering a risk management culture by educating teams on Lifecycle Risk Management Practices. This involves developing partnerships throughout the organization, maturing the capabilities of Risk Champions in the first line of defense, and championing risk-awareness initiatives that support Visa’s overarching risk strategy.

The Director, Risk Business Partner significantly impacts Visa’s operations by expertly managing the risk profile of Issuing Solutions. This involves aggregating information on potential risks, making recommendations to senior leadership, and ensuring effective controls are in place. By collaborating with cross-functional teams, this role helps maintain a balance between innovation and risk mitigation.

The Director, Risk Business Partner leads several key initiatives at Visa, including driving compliance with critical risk programs like NBIA and RCSA. They also support the execution of important change initiatives to improve resiliency and controls effectiveness, ensuring that Visa remains proactive in its risk management efforts.

To approach risk identification in new product development as a Director, Risk Business Partner, I would first engage with cross-functional teams to understand the product's objectives. Next, I'd conduct a comprehensive risk assessment that involves reviewing potential business and operational risks while utilizing established risk management frameworks to categorize and prioritize risks effectively.

To foster a culture of risk awareness, I would focus on education and training initiatives that emphasize the importance of risk management in every role. Creating a network of Risk Champions to promote best practices, providing regular updates, and aligning risk strategies with business objectives would also be key strategies.

One instance involved a major operational risk in a new payment solution. By initiating a thorough risk assessment and collaborating closely with product teams, I was able to identify key vulnerabilities and recommend a series of controls that significantly reduced potential exposure. This proactive approach not only safeguarded the business but also improved stakeholder confidence.

Collaboration with cross-functional teams involves regular meetings to ensure alignment on risk management objectives. I prioritize open communication, encourage input from diverse perspectives, and leverage the expertise of team members to develop comprehensive strategies that address any identified risks holistically.

To monitor the effectiveness of risk management processes, I utilize a combination of qualitative and quantitative metrics, such as the number of identified risks, audit findings, and the success rate of implemented controls. Regular reviews allow us to assess overall performance and make necessary adjustments promptly.

Ensuring compliance with risk management frameworks requires diligent adherence to protocols, regular audits, and ongoing training for the team. I implement routine assessments and foster a culture of accountability to ensure that all functions align with Visa’s risk management standards.

When communicating risks to senior management, I focus on clarity and conciseness, employing visual aids like dashboards for better understanding. It’s essential to provide actionable insights and recommendations alongside the identified risks to facilitate informed decision-making.

Incorporating feedback into risk management strategies is critical. I actively seek input from team members and stakeholders, analyze feedback to identify common themes, and then iteratively adjust our strategies and processes based on that information to ensure they remain relevant and effective.

Technology plays a transformative role in risk management by enabling real-time data analysis, automating reporting processes, and enhancing communication through digital tools. Implementing advanced risk management software can streamline identification and mitigation efforts across diverse teams.

One of the biggest challenges in managing risks for Issuing Solutions is staying ahead of the rapidly evolving payment technology landscape. It's essential to continuously assess emerging risks associated with new technologies and partnerships while ensuring our risk management strategies are adaptable and robust in the face of such changes.