At Fivestars, our mission is to help businesses and communities thrive by turning every transaction into a relationship. Over 50 million people use Fivestars to get rewarded at more than 14,000 local businesses with one rewards program. Local businesses use Fivestars to bring more customers into their stores with an all-in-one marketing program. Fivestars drives over $2.5 billion in local commerce across its network per year. Fivestars has raised $105 million from HarbourVest, Menlo Ventures, Lightspeed, DCM, Y-Combinator, and others. Together, let’s love local. Visit www.fivestars.com for more information.
As the Payments Operations Manager at Fivestars, you will have the chance to fundamentally shape the operations of a rapidly growing payments product. You will blaze the trail by developing rigorous processes to ensure that payments are processed as expected and that any exceptions get handled quickly and accurately. You will be the first member of a team that will grow to handle increased merchant volume.
Payment & Risk Operations
- Understand our underwriting guidelines and best practices for each vertical, resolve underwriting issues from sales, become the go-to expert for underwriting escalations, sitting between underwriting support and the Chief Compliance Officer
- Develop training and guidelines and processes for underwriting new merchants
- Document, escalate and prioritize underwriting challenges and opportunities to improve underwriting to the product team and the vendor management team to improve and streamline underwriting
- Oversee the day-to-day management of ACH exceptions
- Perform daily reconciliations and resolve payment processing exceptions with speed and accuracy and lead process development and training for support team members for documenting and resolving reconciliation issues
- As needed, contact customers regarding the status of their payments while providing excellent customer support
- Analyze and resolve any complex payment processing issues that arise
- Work with Product and Engineering teams to improve our payment systems
- Identify and manage system and process gaps, and optimization opportunities
- Review, improve and automate existing processes, procedures, and workflows
- Own documentation of processing issues
- Collaborate with internal teams to find opportunities to drive operational efficiencies and improve customer experience.
- Build and document processes to improve the onboarding experience for merchants and internal team members.
- Attention to detail and accuracy
- Strong analytical and problem-solving skills
- Comfort with being a part of a fast-growing business with the ability to navigate through ambiguity
- Strong communication skills with coworkers and vendors
Areas of Competence & Experience
- 3+ years of experience in payments with a deep understanding of payment settlement and reconciliation processes
- 4+ years of meaningful work experience with process improvements and payment operations
- Experience in leading cross-functional teams and engaging external parties
- Familiarity with Payment Facilitator model
Fivestars provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability or genetics. In addition to federal law requirements, Fivestars complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.