VP - Merchant Services Program Manager

Welcome to Peoples Bank! We are the largest mutually chartered bank in Western Mass and Northern Connecticut, we are proud to lead the way in green values, sustainable energy financing, and charitable giving.

Our commitment to operating in the best interest of our customers is matched by our dedication to fostering an inclusive and engaging work environment. We offer excellent compensation, workplace flexibility, and a competitive benefits package to our associates. Our award-winning culture has earned us recognition as the Best Place to Work and Best Local Bank
. Join our team of dedicated and innovative individuals and be a part of our dynamic, successful organization. Let's make a difference together!

The Vice President - Merchant Services Program Manager is responsible for leading and managing the bank's merchant services program across its entire footprint. This strategic, high-impact role serves as the primary liaison between the bank, third-party merchant services vendors, internal Commercial, Business Banking, and Cash Management teams, and Banking Center associates. The VP will drive program growth, profitability, compliance, and vendor performance while ensuring an exceptional merchant experience.

Key responsibilities include developing and executing the merchant services strategy, enabling sales teams through training and support, managing vendor relationships and contracts, monitoring portfolio performance, and overseeing risk and regulatory compliance. The ideal candidate will have deep expertise in merchant services and payments, strong leadership and collaboration skills, and a proven ability to deliver results in a fast-paced banking environment.

• Act as the single point of contact and relationship owner for all merchant services vendor partners. Oversee contract performance, SLAs, pricing reviews, and annual vendor business reviews.
• Develop and execute the bank's merchant services strategy to achieve annual revenue, new account, and portfolio growth targets.
• Partner closely with the Commercial Lending, Business Banking and Cash Management to identify opportunities, co-develop merchant proposals, and close deals, and ensure seamless onboarding.
• Train, coach, and support Banking Centers, Commercial Lending, Business Banking, and Cash Management on merchant products, pricing, competitive positioning, and sales processes.
• Monitor portfolio performance (revenue, attrition, interchange optimization, chargeback ratios, risk events) and deliver monthly/quarterly reporting and insights to executive dashboards.
• Manage pricing exceptions, residual/revenue-share calculations, and ensure accurate monthly payouts to the bank and to referring officers/branches.
• Ensure full compliance with card brand rules (Visa, Mastercard, Amex, Discover), NACHA, PCI-DSS, and all regulatory requirements. Coordinate annual PCI validation and audits.
• Lead resolution of escalated merchant issues, chargebacks, and vendor disputes.
• Collaborate with Marketing on campaigns, collateral, and digital tools that drive merchant referrals.
• Negotiate and implement value-added services (gateway integrations, Pay Fac solutions, ISV partnerships, surcharge programs, etc.) that differentiate the bank's offering.
• Oversee equipment deployment strategy (traditional terminals, mobile solutions, e-commerce gateways) across the banking center network.
• Manage the annual budget for the merchant services program (vendor costs, sales incentives, equipment, marketing).
• Must be able to travel up to 40% within the bank's 40-branch footprint.
• Complete yearly compliance training and adhere to bank policies and procedures.
• Other related duties as assigned.

• Bachelor's degree in business, finance, or related field
• Masters / MBA Preferred
• 7+ years of experience in merchant services/acquiring, treasury management or commercial banking

• Experience in training and enabling commercial sales teams and branch staff.
• Proven track record of management of third-party vendor relationships and contracts in the payments space.
• Deep knowledge of card brand rules, interchange qualification, PCI compliance, and risk monitoring.
• Demonstrated success in hitting revenue and new account sales target in a banking environment.
• Strong negotiation and vendor management skills.
• Excellent analytical skills.
• Ability to translate complex payment concepts into simple training and sales messaging.
• Exceptional communication and cross-functional collaboration skills.

• Proficient in MS Office 365 (Word, Excel, Teams, Outlook)

The working conditions and physical demands described here are representative of those that must be met by an associate to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the associate is…