Embedded Payments On Behalf Of (OBO) Product Manager
About the position This is a hybrid role that may be hired in several markets across the United States. First Citizens and Silicon Valley Bank are the most sought-after financial partner in the global innovation economy. We bring together entrepreneurs, investors, ventures capitalists, and private equity firms to move their bold ideas forward, fast. Our clients define what comes next. We are seeking an experienced, well-rounded payment professional to join the Embedded Payments On Behalf Of Product Management team. The ideal individual will have experience across multiple payment methods, product management and analytical skills. The Embedded Payments On Behalf Of Product Management team is responsible for a portfolio of innovation economy Fintech clients that facilitate payments on behalf of their customers (C2s). These Fintech clients provide payment services to a wide variety of end customers across multiple industries utilizing a variety of payment methods via OBO and For Benefit Of (FBO) custodial accounts. Responsibilities • Comprehensive product management of unique OBO and FBO account types including core system account setup, FDIC insurability requirements, reconcilement, profitability, product development and other duties as assigned. • Facilitate client risk management efforts including ensuring appropriate documentation and ongoing oversight. • Partner with legal to develop and maintain OBO and FBO legal documentation and all complex 3rd party fintech relationships. • Maintain policies, standards, and procedures for OBO and FBO use cases across onboarding, monitoring, and offboarding. • Collaborate with product, risk, compliance, and legal teams to ensure that risk controls are aligned with both regulatory requirements and the evolving needs of the portfolio. • Support OBO & FBO pricing strategy while helping to manage product profitability. • Drive product enhancements with core product management partners including business case development, requirement documentation, and product launch. • Drive Go to Market efforts for core product payment methods and channels as applicable to OBO payment use cases. Requirements • Bachelor's degree in finance, accounting, or related work experience and 3 years of experience payment product management inclusive of P&L management, policies and procedures, and new product development. • OR a HS Diploma or GED with 6 years of experience payment product management inclusive of P&L management, policies and procedures, and new product development. Nice-to-haves • Advanced Excel and Tableau skills for data analysis. • Proven ability to provide actionable insights from data through management presentations. • Excellent analytical, communication, and problem-solving skills. • Collaboration with cross-functional teams and influence decision-making. • Demonstrated experience in owning and maintaining product and business unit reporting. • Familiarity with various Embedded Payment business models (PayFac, On Behalf Of, For Benefit Of) and associated risk profiles. • Expertise in risks unique to various payment methods including ACH, Checks, Wire, RTP, Card include formatting, international, returns, and associated credit risk especially in the OBO payment space. • Understanding of payment network and regulatory rules that govern OBO payments. • Experience in fintech, payments, banking as a service, or digital banking environments. Benefits • Comprehensive benefits program for full-time associates (20+ hours), with customized offerings designed to support families. Apply tot his job