The payment processing company Total System Services Inc. (TSS) said on Tuesday that it has hired a new global chief procurement officer.
Walter Taylor will lead the company's technology procurement, vendor management and supply chain management unit. He previously served as an executive vice president at Genesis10, an IT consulting firm based in New York. Before that was the chief operating officer at Pariter Solutions, LLC, a now-defunct joint payment processing venture from Bank of America (BAC) and Wells Fargo (WFC).
He also worked with TSYS earlier in his career as a project manager.
Taylor's appointment comes as vendors face an increasing amount of scrutiny from bank regulators. The Office of the Comptroller of the Currency, for instance, released risk management guidance for banks late last year that included more detailed oversight of vendors' cost structure and product strategy.
"Walter brings a tremendous depth of procurement, vendor and supplier management knowledge in the financial services industry to his new position at TSYS," said M. Troy Woods, president and chief operating officer, in a May 27 press release.
TSYS is based in Columbus, Ga., and provides services to financial institutions in more than 80 countries.