Merchant Services-Underwriter/Risk & Chargeback Analyst

Millennium Systems International•Parsippany-Troy Hills, NJ

2d•$45,000 - $55,000•Remote

About The Position

As a Risk and Underwriting Specialist, you will be primarily responsible for reviewing incoming merchant applications, verifying legitimacy of documentation, ensuring that processing limits requested make sense and that supporting financials are requested prior to approving anything that seems “high risk” or that could result in losses. You will utilize the in-house proprietary software to thoroughly analyze all aspects of the merchant portfolio, analyzing and calculating financial risk, financial exposure, merchant reserves, and merchant payout delays – including evaluating ongoing company financial positions, exposure thresholds, and predicting risk exposures for prospective and existing merchants processing payments. This is a remote position. The candidate must have knowledge in Risk Mitigation, Underwriting, Chargebacks, and Compliance in the Merchant Services industry to be considered.

Requirements

3-5 years of experience in Banking and Payments
Bachelor’s degree in a related field
Prior knowledge about Chargebacks, Financial Payments, and Banking Statement Financials
Excellent verbal and written ability
Intermediate Microsoft Excel skills
Strong analytical skills
Detail oriented, able to multitask and prioritize projects
Experience in communicating with clients about sensitive information.
Customer service oriented, ability to escalate & de-escalate situations accordingly
Must be able to comply with applicable laws, rules and regulations impacting Cash Management service.
Must maintain knowledge of and ensure compliance with the Bank Secrecy Act and all other regulatory, security and bank policies

Nice To Haves

Experience with Infinicept is a PLUS

Responsibilities

Review and underwrite merchant accounts
Order necessary searches to complete the underwriting process
Assess risk based on business type and expected volumes
Review supporting documents for completeness and accuracy
Review credit profiles and additional financials to support risk
Analyze previous processing statements to determine true parameters and potential exposure
Make reserve recommendations as needed
Review accounts while adhering to bank, federal, and card brand policies
Provide secondary analysis on escalated accounts
Communicate with Manager on decisions, escalating as needed
Perform periodic reviews of existing accounts for limit increases or changes to approved parameters
Create and maintain risk-related policies and procedures
Monitor transactional, batch, and authorization volume for merchant portfolio(s) and examine for anomalies
Perform financial risk analysis and possible exposure calculations, evaluating business financial positions, liabilities, payout delays, and reserve estimates for prospective and existing merchant accounts
Maintain and review current financial risk information on existing accounts
Investigate the credit card processing, monitor for chargebacks, flag suspicious refunds, and any suspicious/potential fraud on merchant accounts
Investigate accounts that have exceeded the parameters set by our risk management team and make real-time decisions on increasing or decreasing exposures and reserves
Utilize research and analytical tools to make sound funding decisions within a required timeframe as determined by management
Perform investigations and analysis of cardholder disputed transactions as per card regulation
Review daily processing system chargeback and retrieval reports
Identify fraud related patterns and resolve escalated issues from the team
Maintain updated knowledge for card program rules and regulations
Represent the risk team in various initiatives and ad hoc projects as required
Work individually and with peers to help achieve the overall goals of the team
Perform risk assessments of transactional data to identify signs of heightened risk exposure and symptoms of process control breakdowns
Liaise with Underwriters concerning merchant accounts and provide risk-related support to other departments by providing analytical insight surrounding transactions and best practices for card acceptance
Utilize proven risk management call handling techniques in the identification of high-risk transactions when responding to customers
Analyze advanced digital identity inconsistencies and information to assess potential risk of newly boarded accounts
Perform extensive reviews of documentation in response to audit requests
Coordinate site survey assessments for business validity and examine and interpret statistical reports
Perform data manipulation and spreadsheet capabilities to assist in identifying high risk transactions and trending merchant behavior
Determine solutions to minimize financial risk related to card acceptance and identify trends from current loss developments and make recommendations to management as needed
Monitor and assess post transaction implementation of risk mitigation strategies
Calculate chargeback ratios in conjunction with card brand monitoring requirements

Benefits

Paid Time Off (PTO) and Holidays
Enjoy a generous 3 weeks of Paid Time Off (PTO) that begins accruing with every pay period from your very first day! Plus, you’ll enjoy ten (10) paid holidays throughout 2025, along with five (5) paid sick days and one (1) personal day—because we believe in taking care of you!
Medical, Dental, and Vision Benefits
Your well-being is a priority! We offer subsidized Medical, Dental, and Vision plans, with coverage kicking in quickly. It's all about making sure you stay healthy, happy, and well-cared for.
Life Insurance
Peace of mind for you and your loved ones! We provide Life Insurance and Accidental Death & Dismemberment (AD&D). What’s even better? Millennium Systems International fully covers the entire cost—100% on us!
Long-Term and Short-Term Disability Insurance
Stay secure no matter what life brings your way. Short-Term and Long-Term Disability insurance. And we’ve got your back—Millennium Systems International covers the full cost of Long-Term Disability at 100%.
401(k) Retirement Plan
Plan for your future with confidence! You’ll be eligible to enroll in our robust 401(k) plan. When you do, you’ll enjoy a 100% match on up to 4% of your contributions, thanks to our Safe Harbor plan. It’s our way of helping you build a brighter tomorrow.
Learning & Development Opportunities
We foster a culture of growth and professional excellence. As part of our benefits, we offer unlimited access to Udemy’s online courses, helping you refine your skills, explore new areas, and advance your career. Whether you're deepening your expertise or learning new technologies, we’re here to support your development every step of the way.
Pay Transparency
Millennium Systems International is committed to providing all Team Members with competitive wages and salaries that are motivational, fair, and equitable. Our compensation program reflects our core values of Teamwork, Excellence, and Integrity, ensuring transparency and fairness while attracting top talent and fostering an environment that encourages growth and retention.
We believe that every Team Member is integral to our collective success, and we value the diverse perspectives, creativity, and innovation they bring. Our compensation packages are designed to reflect individual contributions, taking into account skill set, experience, certifications, and work location.
In line with our Client-Centric philosophy, we recognize that the success of our Team Members contributes directly to the success of our clients. As such, we offer compensation packages that not only motivate but also reward performance and excellence.