Embedded Payments Oversight and Risk Manager

This is a hybrid role with the expectation that time working will regularly take place inside and outside of a company office.

We are seeking a strategic and solution-oriented Embedded Payments Oversight and Risk Manager to join our team. This role is responsible for executing the bank's risk oversight framework for embedded payments and money movement programs, including custodial accounts, FBO Accounts, Payment Facilitation, BIN Sponsorship, and other related embedded money models.

As part of the embedded payments monitoring team this role blends strategic risk oversight with hands on client monitoring, The candidate will lead risk assessments of clients and portfolio activity, ensure compliance with program standards, and use data insights to guide the business all while collaborating with leadership and cross-functional peers

Risk Oversight & Governance

• Collaborate on the design and continuous enhancement of the bank's Embedded Payments risk oversight framework, ensuring alignment with regulatory expectations, driving improvements as part pf the team, and industry best practices.
• Perform independent risk reviews of embedded payments clients with the banks program.
• Conduct portfolio-level risk assessments to identify emerging risks, control gaps, and systemic issues.
• Prepare senior leadership risk reporting and insights including recommendations to mitigate strategic and operational risks.

Regulatory Compliance & Industry Standards

• Maintain strong working knowledge of state and federal regulations impacting money movement and fintech sponsorship models.
• Ensure embedded payments programs adhere to industry payment network rules and industry risk standards (such as NACHA, Fedwire, SWIFT, TCH, FedNow, Visa, Mastercard).
• Partner with compliance and legal teams to interpret regulatory changes and translate them into oversight expectations.
• Participate in regulatory exams, audits, and industry working groups related to embedded payments and fintech risk.

Data & Analytics Enablement

• Leverage data and analytics outputs to monitor portfolio trends, key risk indicators (KRIs), and emerging patterns across sponsored programs.
• Partner with analytics and data teams to define risk metrics, dashboards, and reporting requirements.
• Use data-driven insights to challenge business assumptions, prioritize risk reviews, and inform oversight strategy.
• Promote consistent use of analytics across the oversight function to improve transparency and risk decision-making.

Cross-Functional Leadership

• Act as a trusted risk advisor to Product, Relationship Management, Compliance, Legal, Credit Risk, and Technology teams.
• Influence product design and business expansion through early-stage risk engagement.
• Help define internal standards for embedded payments governance, documentation, and risk accountability.
• Contribute to team development, mentoring, and knowledge-sharing within the Embedded Payments Oversight function.

Bachelor's Degree and 4 years of experience in Finance, Accounting, Economics, Statistics, or Lending, or Underwriting, or SBA OR High School Diploma or GED and 8 years of experience in Finance, Accounting, Economics, Statistics

3+ years of experience in payments risk, fintech risk, or banking oversight, or equivalent industry experience.

Preferred Qualifications

• Strong knowledge of embedded payments models, including custodial/FBO structures.
• Experience with payment network rules (such as NACHA, Fedwire, SWIFT, TCH, FedNow, Visa, Mastercard) and regulatory frameworks governing money movement.
• Demonstrated experience in risk governance, oversight frameworks, and portfolio-level risk management.
• Strong stakeholder management and executive communication skills.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.

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