Head of Debit Operations

MoCaFi is committed to building a financial services platform that helps America’s marginalized communities create wealth through better access to public, private, and social capital. We are a fintech built for government and non-profit organizations committed to creating finance for all. Our platform is a turnkey digital banking solution for delivering cash payments, deposit accounts, and wealth empowerment tools at the city, state, and federal levels.

MoCaFi has distributed over $100M in guaranteed basic income, cash assistance, emergency rental assistance, and emergency utility payments in over a dozen municipalities.  We are led by a diverse team of finance, engineering, and startup professionals committed to closing America’s racial wealth gap. We offer FDIC-insured bank accounts, municipal-funded disbursement cards, and financial empowerment services directly to consumers and through our public and private sector partners.

Job Summary

MoCaFi seeks a highly motivated and experienced Head of Debit Operations to lead and manage all aspects of our debit card operations. The ideal candidate will possess a deep understanding of debit card processing, regulations, and risk management and a proven track record of leading high-performing teams and driving operational excellence. Bring best practices from e-commerce, financial services, and technology companies with significant potential fraud exposure. Demonstrate a comprehensive understanding of regulatory expectations to ensure legal compliance. This role requires a strategic thinker with a hands-on approach, capable of navigating complex challenges and implementing innovative solutions.

This role is remote but hybrid to our Manhattan office for those in the New York City Metropolitan area. It reports directly to our Chief Executive Officer. Based on experience and location, the salary range for this position is $160-190,000.

Job Responsibilities

• Chargeback Process Ownership: Oversee and manage the entire chargeback process, ensuring accuracy, efficiency, and compliance with all relevant regulations and network rules.
• Transaction Monitoring: Implement and maintain robust transaction monitoring systems to detect and prevent fraudulent activity and ensure the security and integrity of debit card transactions.
• Dispute Operations: Lead and manage dispute operations, including research, resolution, and reporting, adhering to established timelines and regulatory requirements.
• Process Improvement: Identify and implement process improvements to enhance operational efficiency, reduce costs, and improve customer experience.
• Risk Management: Develop and implement risk management strategies to mitigate potential risks associated with debit card operations, including fraud, compliance, and operational risks. Oversee establishing and maintaining operational procedures, controls, and reporting mechanisms. 
• Compliance: Ensure all debit card operations comply with federal, state, and local laws, regulations, and network rules.
• Vendor Management: Manage relationships with key vendors, including processors, networks, and fraud prevention providers, ensuring service levels are met and costs are optimized.
• Leadership and Team Management: Build, lead, and mentor a high-performing debit operations team, fostering a culture of collaboration, innovation, and accountability.
• Reporting and Analysis: Develop and maintain key performance indicators (KPIs) to monitor operational performance, identify trends, and provide regular reports to senior management.
• Cross-functional collaboration: Collaborate with various departments to ensure a cohesive approach to dispute management and fraud prevention. Represent the business in coordination with external service providers and other business units for high-impact projects. 

Qualifications

• A bachelor's degree or equivalent experience in the payments space is preferred; 4+ years of experience in payments is required in lieu of a degree.
• 10+ years of experience in debit card operations, including significant experience in chargebacks, transaction monitoring, and dispute resolution.
• 5+ years of proven leadership and team management, with the ability to build and develop high-performing teams.
• Experience working at a Fintech company and a large bank is highly preferred.
• Deep understanding of debit card processing, regulations (including Regulation E), and network rules (Visa/Mastercard).
• Strong analytical and problem-solving skills, with the ability to identify and implement process improvements.
• Innovation-Oriented: A proactive and innovative approach with a focus on continuous improvement. 
• Excellent communication and interpersonal skills, with the ability to effectively interact with internal and external stakeholders.
• Ability to work in a fast-paced, dynamic environment and manage multiple priorities.
• Under our contract with the U.S. Department of Treasury, this position requires that all employees working on Federal contracts be U.S. citizens or Lawful Permanent Residents.

Why you'll love working here:

• An empowering workplace that values initiative and critical thinking
• Work on achieving our financial inclusion mission
• A supportive and inclusive culture: recognizes contributions and celebrates wins
• A welcoming environment that appreciates your bringing your entire self to work
• Time to rest and recharge -- flexible time off policy as long as you can get your job done and make arrangements with your manager to cover you if needed

MoCaFi believes all persons should have equal access to its programs, facilities, and employment.  This policy is without regard to race, color, ancestry, national origin, age, gender, sexual orientation, gender identity, age, religion, disability, medical condition, genetic information, marital, or veteran status.