Junior Merchant Underwriter

Coinflow • Chicago, IL

2d • Onsite

About The Position

As a Merchant Underwriter, you will perform risk analyses and due diligence for all merchant applications. This role is focused on thorough analysis and documentation. You will be responsible for synthesizing data and preparing high quality case files for review by senior members of the team and leadership. You will learn to identify and help protect our platform from risks across our three pillars, Operational, Partner/Scheme, and Legal/Regulatory.

Requirements

• 2+ years in fintech, payments, banking, or financial services underwriting.
• Understanding of payment processing, merchant acquiring, and transaction risk.
• Familiarity with evaluating high regulatory risk business models, such as business related to crypto, remittance, real money gaming, and prediction markets.
• Proven track record meeting SLAs, and performance expectations
• Strong analytical skills with ability to work with data and make evidence-based decisions.
• Excellent communication skills and comfort operating in ambiguous, fast-paced environments.
• Proficiency in spreadsheet software (Excel/Google Sheets) for data modeling, trend analysis, and synthesis of merchant processing data.

Nice To Haves

• Experience working transaction monitoring systems and case management platforms.
• SQL and business intelligence tools (e.g., Tableau, Looker).
• Background in high-growth payment companies.
• Interest in cryptocurrency and/or blockchain analytics expertise (Chainalysis, Merkle, Elliptic, TRM Labs).
• Bachelor's degree

Responsibilities

• New Business Underwriting: Evaluate merchant applications, ensuring that merchants are operating Legally, within Card Scheme Rules, and within Coinflow’s operational risk appetite. This includes calculation of exposure to determine Coinflow’s potential loss in the event a merchant defaults.
• Backbook & Portfolio Reviews: Complete refresher reviews of the existing merchant portfolio, such as reviewing updated licenses, legal opinions, compliance policies, and bank statements to ensure that merchants are still operating compliantly and manage any changes to their risk profile.
• Alert Investigation: Perform investigations on Chargeback Spikes, ACH Returns, or other indicators of changes to a merchants risk profile.
• Process & Efficiency Projects: Assist process improvement or tooling projects to improve efficiency and scale our Underwriting program.
• Risk Mitigation: Recommend actionable conditions for approval, such as implementing reserves, transaction limits, or enhanced monitoring.
• Collaborate cross-functionally: Partner with Compliance, Product, Engineering, and Operations to help improve the Underwriting Program.

Benefits

• Build from the ground up – Shape our financial crimes program with executive visibility
• High-growth opportunity – Join during a pivotal phase with room to expand your role with team and scope
• Cutting-edge work – Operate at the intersection of compliance, crypto, and innovative payment technology
• Competitive package – Strong salary, equity, comprehensive benefits, and professional development support
• Collaborative culture – Work with talented, mission-driven people building the future of payments

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level