Third Party Risk Director

Job Description

Director, Third-Party Payments Oversight

Summary

The Director, Third-Party Payments Oversight is responsible for designing, implementing, and executing the risk and compliance framework for non-bank partners (fintechs) offering bank services (payments, deposits, and lending). This senior role ensures third-party partners comply with applicable regulatory requirements, bank policies, and payment network rules.

Key Responsibilities

• Design, implement, and maintain the third-party payments risk and compliance framework for fintech and BaaS partners.

• Oversee ongoing due diligence, risk monitoring, and compliance reviews of third-party partners in coordination with Legal, Commercial Risk, and other control functions.

• Assess partner policies, controls, and customer journeys to identify gaps and recommend remediation to reduce regulatory, reputational, and financial risk.

• Ensure partner adherence to bank policies, regulatory guidance, and payment network rules (e.g., NACHA, Visa, Mastercard, FedNow).

• Lead investigations and cross-functional issue management, developing fact-based recommendations and presenting risk decisions to business and executive stakeholders.

• Partner with First and Second Lines of Defense to support governance, reporting, and escalation processes.

• Coordinate and support internal and external audits and regulatory examinations related to third-party payments oversight.

• Manage and develop a team of payments professionals; set priorities, coach performance, and build team capabilities.

• Represent the function with executive presence in internal forums and with external partners as needed; travel periodically to support partner oversight.

Required Skills & Qualifications

• 5+ years of experience in risk management, compliance, or operations within financial services, fintech, and/or Banking-as-a-Service (BaaS).

• Strong knowledge of third-party regulatory guidance and the payments ecosystem.

• Experience with customer due diligence, fraud and risk monitoring, and payment network rules (NACHA, Visa, Mastercard, FedNow).

• Ability to review and advise on customer and partner policies to protect the bank from fines, regulatory violations, and losses.

• Proven ability to evaluate risk and perform compliance reviews in partnership with Legal and Commercial Risk teams.

• Understanding of emerging payment systems, digital assets, and blockchain technology, including associated risks.

• Executive presence with strong interpersonal, networking, and executive-level presentation skills.

• Experience partnering with First and Second Lines of Defense and cross-functional teams to investigate issues and present fact/risk-based recommendations.

• Experience with internal and external audits.

• At least 2 years of people management experience leading payments professionals, including coaching and development.

• Willingness to travel.

Education:

• Bachelor's degree in a related field required

Location(s):

Competitive candidates must be prepared to work a hybrid schedule, 4 days on-site, 1 day remote, at one of our corporate hubs:
Boston
Johnston, RI

Pay Transparency:

The salary range for this position is $178,000 - $186,000 per year , plus an opportunity to earn an annual discretionary bonus. Actual pay is based on various factors including but not limited to the budget, work location, and relevant skills and experience.
We offer competitive pay, comprehensive medical, dental and vision coverage, retirement benefits, maternity/paternity leave, flexible work arrangements, education reimbursement, wellness programs and more. Note, Citizens' paid time off policy exceeds the mandatory, paid sick or paid time-away policy of every local and state jurisdiction in the United States. For an overview of our benefits, visit

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About Us

Equal Employment Opportunity

Citizens, its parent, subsidiaries, and related companies (Citizens) provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to age, ancestry, color, citizenship, physical or mental disability, perceived disability or history or record of a disability, ethnicity, gender, gender identity or expression, genetic information, genetic characteristic, marital or domestic partner status, victim of domestic violence, family status/parenthood, medical condition, military or veteran status, national origin, pregnancy/childbirth/lactation, colleague's or a dependent's reproductive health decision making, race, religion, sex, sexual orientation, or any other category protected by federal, state and/or local laws. At Citizens, we are committed to fostering an inclusive culture that enables all colleagues to bring their best selves to work every day and everyone is expected to be treated with respect and professionalism. Employment decisions are based solely on merit, qualifications, performance and capability.

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