Underwriter

Payarc•Greenwich, CT

About The Position

We are a technology-driven company that empowers people and improves organizations through payment processing. We started by providing smart and simple payment processing tools and products and continue to innovate. Backed by world-class experts and top technology talent, we are committed to helping new businesses, increasing customer revenues, and bridging the gap between online merchants and payment solutions. Our mission is to provide companies with the tools they need to shape the future of their business. The Underwriter is responsible for reviewing merchant accounts, analyzing merchant financial and activity risk, ensuring compliance with legal and association rules, and performing other operational duties in the normal course of merchant acquiring business. This individual is responsible for the daily decisioning of merchant applications, reviewing applications received from agents and internal sales representatives for businesses that accept credit and debit cards as payment for goods and services. Applications are reviewed to verify the completeness of required documentation. The analyst has the authority to make approval decisions within their designated authority level.

Requirements

+6 months of relevant experience
Advanced computer skills and proficient in Microsoft Office
Possess knowledge of the acquiring credit card business with respect to industry trends, business risk factors, merchant signing requirements and other operational procedures associated with booking merchants
Excellent analytical skills, strong attention to detail
Ability to function in a fast-paced, changing environment with multiple priorities
Detail oriented and must have the ability to prioritize all tasks appropriately
Sense of ownership and pride in your performance and its impact on company’s success
Team player
Highly proficient verbal and written communication skills
Strong technical aptitude and willingness to learn
Strong interpersonal skills for interacting effectively with key internal and external contacts
Judgment and resourcefulness to solve problems independently

Nice To Haves

Experience underwriting merchant services accounts preferred
Bachelor’s degree preferred

Responsibilities

Review accounts submitted in accordance with regulatory merchant standard policies and sponsor bank’s policy
Periodically review existing merchants to ensure compliance with Underwriting Guidelines and risk standards
Present risk mitigation techniques to minimize financial loss exposure to the Bank when creating and/or approving proposed risk structures for a merchant account
Work with underwriters at sponsor banks and risk managers to manage the risk structure imposed on accounts
Independently make credit risk decisions for approval, credit holds or declines of merchant applications
Communicate underwriting approval and declines decisions effectively in both verbal and written communication
Analyze credit and financial statements
Credit authority of $100,000
Perform quality controls on submitted merchant applications
Track and manage workflow of all pending accounts weekly
Perform other duties and projects as assigned
Provide operational assistance as needed when a merchant needs to be added to the watchlist, limits change and account closure
Provide various reporting to management
Other duties as assigned