Note: The job is a remote job and is open to candidates in USA. Bakkt, Inc. is a regulated financial technology company building infrastructure for the future of finance. They are seeking an experienced Credit Card Operations & Settlement Manager to lead operational excellence, settlement, audit oversight, and strategic vendor management for their U.S. credit card program.
Responsibilities
- Facilitate the design and implementation of the daily settlement function for credit card reconciliation ensuring strict Flow of Funds compliance
- Own the daily function of settlement in partnership with Treasury teams to ensure adherence to settlement timing, proper flow of funds movement, and final reconciliation
- Ensure settlement is performed daily in a timely fashion before network cutoff
- Build and manage the Credit Card back office operations function from the ground up using industry best practices and agentic automations where possible
- Own the administration of internal and external audits for the credit card program, ensuring timely reporting and preparation of exam responses
- Design, implement, and maintain the end-to-end Dispute & Chargeback workflow, ensuring strict compliance with Regulation Z
- Act as the final escalation point for complex, high-risk customer issues that cannot be resolved by the front line
- Own the timely completion and submission of all Quarterly Network reporting
- Oversee daily payment processing to ensure all credits post in accordance with Regulation Z requirements, including the management of ACH returns, failed payments, and payment reversals
- Conduct deep-dive research to resolve complex ACH Network issues, ensuring seamless fund movement and system integrity
- Guarantee the accuracy and timely delivery of billing statements and mandatory disclosures to maintain strict compliance with federal lending laws
- Ensure cases are investigated and resolved including billing errors and disputes; draft and deliver formal resolution notices (letters or emails) within the specific timeframes mandated by Reg Z
- Research and rectify rewards posting errors and complex interest/fee disputes (including trailing interest) while ensuring all communications adhere to UDAAP and Reg Z standards
- Analyze complex account anomalies, such as authorization declines and duplicate transaction postings, ensuring final resolutions comply with Regulation Z
- Monitor API booking failure logs to identify and fix new account errors, ensuring successful onboarding and strict adherence to the Military Lending Act (MLA)
- Execute account-level maintenance and process risk-based closures to protect the portfolio’s health and security
- Manage SCRA requests by adjusting interest rates to 6% and monitoring accounts for continued compliance; process subpoenas and legal documents, including account freezes and statement production
- Perform monthly QA/QC audits on 10% of total booked card volume, documenting successful bookings and reporting systemic errors to the Product team for remediation
- Lead rigorous End-to-End (E2E) and User Acceptance Testing (UAT) for production changes, providing formal sign-off for new features and system updates
- Execute and document 'First Occurrence' testing for index pricing changes on the front book and manage APR updates for the back book while maintaining comprehensive, auditable change logs
- Manage the day-to-day and strategic relationship with the card fulfillment vendor, overseeing card printing, shipping, and inventory management
- Oversee the relationship with plastics vendors, including inventory monitoring, issuance report auditing, and the 'Pull & Destroy' process for compromised or expired cards
- Manage the digital card lifecycle, resolving complex tokenization errors and provisioning issues
- Define and oversee the strategy for outsourced back-office support for functions like fraud and disputes & customer service
- Ensure all BPO partners adhere to strict US credit card and banking regulatory requirements
- Define the key performance indicators (KPIs) for the operations department, including Turnaround Time and error rates, and drive continuous improvement
- Serve as the backup and escalation resource for the Head of Credit Card, and support other operations team members as needed
- Provide additional duties not explicitly referenced as required by the Head of Credit Card
Skills
- 5+ years of proven experience in credit card back-office operations, including a deep understanding of credit card settlement, Dispute and Chargeback processes, and all applicable credit card regulations
- Demonstrated success in managing critical third-party vendors (Processors, Sponsor Banks, BPOs, card fulfillment partners) and ensuring their strict program compliance
- Strong analytical skills for defining and monitoring operational KPIs (Turnaround time, error rates)
- Proven track record of managing successful internal and external audits, with a keen ability to resolve MRA's in a timely manner
- Excellent problem-solving and communication skills for handling complex escalations and leading partner relationships
- Ability to work across multiple departments including Compliance, Legal, Marketing, Treasury, Analytics, etc. in a fast paced highly matrixed organization
- Knowledge of stablecoin money movement
Company Overview