Functional Finance is a growing fintech startup on a mission to revolutionize financial operations for tech-forward insurance companies. We provide a financial operations software platform that serves as an API-driven embedded solution. Our platform helps insurance operators automate and own all aspects of money flow, from checkout and financing through payables and refunds.

Founded by a team with deep insurance industry expertise, including Rashmi Melgiri, co-founder of CoverWallet, Functional Finance offers a unique, integrated insurance-specific platform. We're passionate about building innovative solutions that empower insurance companies to streamline their operations and improve efficiency.

We are seeking a dynamic and experienced professional to join our team as the Head of Payments / GM of Payments. As the leader of our payments department, you will play a pivotal role in shaping and executing our payment strategy, ensuring seamless and secure financial transactions. The ideal candidate possesses a strong background in embedded payments, Insurance/ insurtech, and leadership, with a proven track record of driving innovative solutions and optimizing payment processes.

This role combines strategic and operational responsibilities, requiring the individual to both develop and implement high-level payment strategies and oversee day-to-day payment operations. The successful candidate will lead the payments team, manage vendor relationships, ensure smooth and compliant operations, and work cross-functionally to optimize payment processes and the introduction of new features.

• Strategic Leadership: Develop and implement the overall payments strategy aligned with the company's goals and objectives.Provide strategic direction for the payments team, fostering a culture of innovation, collaboration, and continuous improvement.
• Payment Operations Management: Oversee the end-to-end payment operations, including processing, reconciliation, and settlement. Ensure compliance with relevant regulations, industry standards, and best practices. Collaborate with cross-functional teams to optimize payment workflows and enhance efficiency. 
• Technology Integration: Work closely with the technology teams to evaluate, implement, and integrate cutting-edge payment technologies and solutions. Drive the development of scalable and secure payment systems to meet the evolving needs of the business.
• Risk Management: Develop and implement robust risk management processes to identify, assess, and mitigate payment-related risks. Monitor fraud prevention measures and implement strategies to enhance security and protect against financial threats.
• Vendor and Partnership Management: Build and maintain strong relationships with payment service providers, banks, and other relevant partners. Negotiate contracts, review service levels, and ensure optimal performance from third-party vendors.
• Data Analysis and Reporting: Utilize data analytics to gain insights into payment trends, customer behavior, and transaction patterns. Generate regular reports for executive management, highlighting key performance indicators and areas for improvement.

• Proven experience in a leadership role within the payments industry (10+ Years).
• Strong understanding of payment systems, technologies, and regulatory landscape.
• Experience in managing payment operations and implementing scalable solutions within a payment facilitator, SAAS or ISV; or Experience running Payments within a vertical SAAS business
• Excellent leadership and people management skills.
• Strong analytical and problem-solving abilities.
• Exceptional communication and negotiation skills.
• Familiarity with emerging trends in payment technologies.