VP, Head of PayFac

Job description

Calling all innovators - find your future at Fiserv. We're Fiserv, a global leader in Fintech and payments, and we move money and information in a way that moves the world. We connect financial institutions, corporations, merchants and consumers to one another millions of times a day - quickly, reliably, and securely. Any time you swipe your credit card, pay through a mobile app, or withdraw money from the bank, we're involved. If you want to make an impact on a global scale, come make a difference at Fiserv. Job Title VP, Head of PayFac The Vice President, Head of PayFac-as-a-Service leads the strategy, product, and commercialization of Fiserv’s Payment Facilitator-as-a-Service offering within Merchant Solutions. PayFac-as-a-Service gives clients a modular partnership path to payment facilitation enabling embedded payment capabilities and participation in the flow of funds without building the full Payment Facilitator operating model. This leader is accountable for defining how capabilities are delivered across the acquiring value chain while ensuring that registered-party accountability, network obligations, and Fiserv risk appetite remain uncompromised. Reporting to the SVP, Global Product Strategy, the Vice President owns the PayFac-as-a-Service productnvision, the operating-model spectrum (Full-Service, Managed, and Fiserv-led PayFac), the delegation and risk framework, and the commercial packaging and pricing model. The role partners closely with Risk, Compliance, Legal, Technology, Sales, and Product Marketing to bring configurable, network-compliant payment facilitation propositions to market — balancing operational flexibility for clients with disciplined control and oversight. Guiding principle: PayFac-as-a-Service changes how capabilities are delivered, not who remains accountable. Operational activities may be shared or delegated, but accountability remains anchored to the registered parties across the entire value chain. What you will do: PayFac-as-a-Service Product Strategy & Proposition Own global end-to-end PayFac-as-a-Service product strategy and multi-year roadmap, defining the target client segments, use cases, and value propositions for embedded payment facilitation. Define the core capability proposition — which capabilities form the baseline offering and which services are optional modules across onboarding, risk, compliance, processing, funding, reporting, and servicing. Translate market demand and client needs into a defined product and capability catalogue, differentiating Fiserv’s PayFac proposition in a competitive commerce and payments landscape. Champion PayFac-as-a-Service as a partnership path for clients seeking payment capabilities without building the full operating stack, focused on proposition, distribution, and merchant experience. Operating-Model Spectrum & Delegation Design Own the PayFac-as-a-Service operating-model spectrum, enabling clients to choose how much operational capability to retain versus consume from Fiserv — from Full-Service PayFac (client-led execution) to Managed PayFac (configured responsibility) to Fiserv-led PayFac-as-a-Service (service-led execution). Define the delegation and qualification model — which low- and medium-risk activities qualified clients may execute, and the eligibility and delegation rules that govern them. Establish the responsibility model across the acquiring value chain, classifying activities as client-owned, delegable/shared, or Fiserv-retained across Strategy & Go-to-Market, Onboarding & Underwriting, Fulfilment/Processing & Funding, Risk & Compliance, Merchant Servicing, and Reporting & Governance. Ensure final allocation remains client-specific and validated against legal role, Service Provider registration, funds flow, control design, and Fiserv risk appetite. Risk, Compliance & Registered-Party Accountability Own the PayFac-as-a-Service delegation risk framework, assessing delegability using six factors together: funds exposure, decision authority, regulatory & network impact, registration dependency, data & system access, and oversight feasibility. Define retained authority and risk appetite — the decisions and functions Fiserv retains, including final merchant approval and exceptions, funds access and payout control, settlement accountability, MATCH decisions, network reporting submission, and PF sponsorship authority. Ensure high-risk capabilities (AML/sanctions decisions, underwriting authority, settlement) are retained or tightly controlled, while low- and medium-risk activities are delegated with appropriate qualification, monitoring, evidence, and escalation controls. Guarantee that registered-party accountability and oversight remain continuous across the full value chain, regardless of who executes each activity, and that delegable activities retain qualification, evidence, monitoring, escalation, and intervention rights. Partner with Risk, Compliance, and Legal to secure required approvals and maintain alignment with Mastercard, Visa, and other network rules that establish the accountability boundaries. Onboarding, Underwriting & Servicing Operations Define the global product requirements for merchant onboarding, KYC/KYB, underwriting analysis, and merchant activation, balancing client-led workflow with Fiserv decision authority and controls. Oversee the design of fraud monitoring, portfolio monitoring, disputes and chargebacks, and merchant servicing capabilities within a shared-execution model with defined thresholds and intervention rights. Ensure reconciliation inputs, operational reporting, and network-reporting submission are governed with clear ownership and validation. Commercial Model, Packaging & Pricing Define the commercial model — what is included in platform pricing and which services, modules, or controls are priced separately (platform fees, managed services, oversight). Own the service packaging and pricing strategy, informed by the product strategy and delegation model, to align value delivered with client operating-model choice. Structure client-tailored offerings (Fiserv-led, Shared Service, Full-Service) matched to each client’s capability, controls, and risk profile. Partner with Product Marketing to define positioning, launch readiness, portfolio narratives, and commercial enablement for the PayFac-as-a-Service proposition. Go-To-Market & Cross-Functional Execution Lead the PayFac-as-a-Service go-to-market strategy with Sales and Partnerships, translating Fiserv strategy into compelling client propositions and proposal strategies. Align Product, Technology, Risk, Compliance, Legal, Finance, and Operations around common priorities and measurable business outcomes. Lead the PayFac-as-a-Service operating rhythm — QBRs, MBRs, operating reviews, and roadmap reviews — ensuring decisions, owners, and follow-through are clear. Drive executive communications and stakeholder alignment on PayFac-as-a-Service strategy, progress, and risk posture. Governance, Performance & Contracting Establish the oversight and contracting model — the evidence, reporting, audit, intervention, and remediation rights required for a governed operating and contracting framework. Define and monitor PayFac-as-a-Service KPIs, onboarding and portfolio performance, risk indicators, and commercial outcomes. Drive accountability for execution against strategic objectives, network obligations, and portfolio commitments. Leadership Responsibilities Build and lead a high-performing PayFac-as-a-Service global organization spanning product, delegation & risk design, onboarding/underwriting, and commercial enablement. Develop talent and future leaders through coaching, mentoring, and career development. Create a collaborative operating model across product, technology, risk, compliance, legal, sales, and operations teams. Influence senior executives and stakeholders without direct authority to achieve enterprise outcomes. What you need to have: 14+ year