Step up.
At Butterfield, we provide full-service community banking and specialised international financial services. Operating in multiple jurisdictions, we focus on results, value relationships, and celebrate success. If this sounds like your kind of company, then consider this opportunity to become part of a collaborative team of professionals at a world-leading, independent offshore bank and trust company.
Vice President, Head of Merchant Services, Bermuda & Cayman
The position reports to the Vice President, Group Head of Card Services, and oversees the Merchant Services teams in Bermuda and Cayman. This position is responsible for the design and implementation of a competitive line of merchant products and services that contributes to the profitability and growth of the Bank’s merchant portfolio in Bermuda and Cayman.
Your responsibilities will include:
- Formulating and recommending to management the overall strategy for merchant acquiring, including strategies for new and improved products, delivery systems, customer service, fee structures, processing systems and marketing.
- Managing complex merchant relationships including fee and contractual negotiations
- Creating and executing annual plans by product line, including the development of profitability models and responsibility for the P&L of assigned product lines, and taking steps to ensure the achievement of annual growth and profitability objectives.
- Developing and launching new products and services to meet identified market and customer needs.
- Strategically managing the relationship with third-party processors and vendors, including negotiating complex service and fee agreements and leveraging our position to obtain competitive pricing.
- Providing support and training to ensure that employees develop the necessary product knowledge and skills to service the Bank’s customers and sell the Bank’s products.
- Developing marketing programmes with the individual Card Schemes to increase spend activity.
- Managing relationships with internal service providers, especially IT, to ensure product requirements are clearly defined and that systems delivered meet requirements.
- Liaising with internal bank departments to ensure all new and existing products fall within acceptable risk parameters for the bank.
Your qualifications and skills include:
- Bachelor’s degree in Accounting/Finance or related discipline with a minimum of 10 years' merchant acquiring experience, coupled with a minimum of five years’ experience in a management capacity.
- Extensive knowledge of Card Scheme (Visa, MasterCard, American Express and Discover) operating regulations.
- Proven excellent sales and negotiation skills.
- Intimate knowledge of the end-to-end POS structures and processing.
- Sound knowledge of global PCI DSS and compliance regulations.
- Ability to execute initiatives effectively and deliver results in the local market environment with multiple product platforms.
- Excellent analytical and critical thinking skills.
- Well-developed financial skills and experience to manage the profitability of the merchant portfolio and well versed in preparation of the budgeting and forecasting models.
- Excellent communication, management, and negotiation skills needed to professionally represent and promote the bank with customers and executive management, and in negotiations with processors, suppliers, and partners.
- Strong writing and management accounting skills to prepare business cases.
- Proficient in Microsoft Office suite of applications.
- Excellent people management skills.
Card Services
Butterfield’s Card Services team supports millions of financial transactions globally across all of our banking locations. Our customers range from personal account holders to corporate and wealth clients. Card Services is a fast-moving environment, where innovation is at the heart of the team’s every day responsibilities to provide services that keep Butterfield at the forefront of the financial services industry.
Why Butterfield?
With more than 1,300 financial services professionals across ten international jurisdictions, the Butterfield experience is enhanced by robust learning and development opportunities, comprehensive benefits, and preferred rates on a variety of proprietary financial services. Guided by our core values—approachable, collaborative, empowered and impactful—we provide a respectful environment where the diversity of our employees and the talents and experiences they bring are celebrated and valued. With a 160-year tradition of service excellence we empower individuals to achieve their goals and make a positive impact on our business, our clients and our communities.
Does this sound like you?
All applications should be submitted via
e-mail to [email protected].