Director, Money Movement, Korea & Mongolia
- Seoul, South Korea
As the world's leader in digital payments technology, Visa's mission is to connect the world through the most creative, reliable and secure payment network - enabling individuals, businesses, and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company's dedication to innovation drives the rapid growth of connected commerce on any device, and fuels the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce.
At Visa, your individuality fits right in. Working here gives you an opportunity to impact the world, invest in your career growth, and be part of an inclusive and diverse workplace. We are a global team of disruptors, trailblazers, innovators and risk-takers who are helping drive economic growth in even the most remote parts of the world, creatively moving the industry forward, and doing meaningful work that brings financial literacy and digital commerce to millions of unbanked and underserved consumers.
You're an Individual. We're the team for you. Together, let's transform the way the world pays.
The Money Movement team is responsible for the commercialization of a suite of solutions such as Visa Direct, Real Time Payments and cross border payments through Visa Payments Limited. These are all payment services that Visa provides to clients (issuers, acquirers, processors, merchants and service providers) to facilitate fund transfers/disbursements to accounts around the world using push payment technology. Money Movement consumer and business applications include person to person (P2P) transfer, person to micro-business transfer (e.g. payments to landscaper), cross border remittance and funds disbursements (e.g., marketplace seller payouts, insurance claim disbursements, acquirer merchant settlement).
What the Head of Money Movement does at Visa:
Based in Korea, Director, Head of Money Movement will work closely with Digital Partnership team, Client Service team, Business Development team in Korea as well as Digital Solutions team, Money Movement Team in AP. She/he will also be focused on executing partnership that requires typically complex and cross-functional collaboration with Finance, Legal, Marketing, Corporate Communication teams in nature.
This role will be responsible for building and delivering Korea’s move money operating plan, as well as setting Go-to-market strategy of the overall “money movement” business for Korea & Mongolia, including Remittance service, Real Time Payments, forming the strategy for new payment flows in Korea and Mongolia.
This role will directly report into Head of Products and Solutions, Korea & Mongolia, and will require significant influencing skills and interactions with internal and external executives, development and implementation of strategic plans and objectives in alignment with the corporate and regional strategy, and a decision-making that directly impacts the move money strategy and financial results.
In addition to this, she/he will manage revenue and partnership deal flow and develop business opportunities by partnering with Banks, FinTech/BigTech, and issuers. The successful candidate will be an experienced business development or account management professional who is also a fintech or financial service sector expert. The position requires a self-starter who will bring a structured and programmatic approach to identifying and partnering with a range of fintechs, issuers and banks in Korea.
In this role, you are expected to:
- Annual Operating Plan - Build annual operating plan, including identifying key initiatives, payment volume and revenue forecasting
- Strategy and New Use Cases – Lead development of key strategic initiatives for money movement, Korea & Mongolia, e.g., expansion of new use cases including in-bound and out-bound cross-border payment and remittance services
- Client implementation and support – Closely work with clients and Client Service team to execute and deliver implementation and commercialization of Money Movement related services and business including domestic/cross-border P2P remittance services (Send to card/Send to account, Visa Direct), Real-Time Payment (account to account payment), push payment etc.
- Performance Management – Develop and lead regular performance management cadence including business reviews, internal communication and governance process
- Policy & Compliance - Evaluate applicable Visa Direct rules to use cases and client solution constructs. Support resolution of compliance issues in partnership with Compliance & Client Services teams.
- With deep understanding of industry trends, identify potential partners across FinTechs, Banking and financial service sectors and develop business pipeline
- Lead the development of partnership proposals by working with various internal stakeholders and negotiate contractual relationships with strategic partners
- Development of key partnership terms and execution of partnership agreements
Why this is important to Visa:
The Money Movement role has opened up numerous new payment flows for Visa that will unlock $1B in new revenue over the next 5 years. Currently, the push payments market globally is estimated to be an $80T of payment volume, replacing cash, checks, and ACH to move money in real-time. The money movement business represents a significant growth opportunity for the company.
What you will need:
We are looking for an individual who brings breadth of experience, a curiosity about payments, is results-driven and client focused. As a candidate, you should have:
· ~10 years’ experience in either banking / financial services sector or Technology / FINTECH sector developing and launching new transactional banking services, e-payment services and/or other digital products / services in Korea
· Experience in wholesale payments developing cross border payment flows, treasury services and or other P2P, B2C and B2B flows in Korea
· Understanding of trends and themes in payments and commerce and a futurist outlook and passion for technology innovation.
· Excellent problem solving skills with a strong focus on serving clients - exceptional client-facing and presentation skills
· Strong business acumen and management skills
· Degree qualified in business and/or technology.
· Demonstrate thought leadership and the aptitude to think creatively and identify new ways to innovate and differentiate with evidence of tangible business results
· Ability to interact with and influence key senior stakeholders and decision makers in Korea and across the AP region
· Ability to explain complex business and technical concepts to a broad audiences in an approachable way
· Strong team player, self-motivated and the ability to work independently at coordinating cross functional activities, data collection, buy-in and strong decision making abilities to elevate issues at critical junctures appropriately
· Proven project development experience
• Strong sense of urgency and experience driving to successful commercialization
• Ensure personal efforts are integrated and aligned with functional objectives
• Strong collaboration and influence skills to drive deliverables, projects and engagements to completion
• Take prompt, decisive action after analyzing relevant information