Raymond Carter


Merchant Acquiring


Raymond Carter is a Principal in the Merchant Acquiring practice area, specializing in commercial risk and compliance associated with electronic payments, which includes strategy development, risk management, compliance, merchant acquiring/transaction processing, commercial lending, business and portfolio valuation, buy- and sell-side advisory, advisory support, financial analysis, and planning. Clients include domestic and foreign banks, transaction processors, non-bank acquirers, private equity firms, major retailers and manufacturers, non-profits, regulatory authorities, healthcare companies, and other non-bank entities affiliated with the financial services industry.

Recent project work includes managing/overseeing a payments business (consumer and commercial cards, merchant acquiring, prepaid) for the FDIC over an eighteen-month period that concluded with the sale of a portfolio through an auction process run by Raymond. Additional assignments included developing credit risk policies, commercial and consumer risk assessment and enhancement initiatives, credit risk management strategy development and implementation, transaction processor business strategy and risk diagnostics, risk management practices diagnostics, fraud monitoring tools and technology analysis, assisting private equity firms with evaluating investment opportunities in the payments industry, partnership and airline sector card and acceptance strategies, commercial payment optimization analyses, purchasing and T&E corporate card risk strategies, process improvement initiatives, and micro- and small business lending research. Raymond Carter has also performed research on the topics of allowance for credit loss accounting and merchant reserves in the acquiring industry, instructed credit card training to the Federal Deposit Insurance Corporation and the Conference of State Bank Supervisors, and authored numerous articles focused on payments industry risks.


Commercial Risk
Merchant Acquiring


Carnegie Mellon University’s Graduate School of Industrial Administration (now the Tepper School of Business) M.S. in Industrial Administration with concentrations in finance, accounting, and information systems management
University of Pittsburgh B.S. in management and accounting, graduating Magna Cum Laude

Professional Background

Joined First Annapolis in 2000
Audit Manager at Ernst & Young LLP
Positions at S&T Bank and The Pennsylvania Department of Banking

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