Underwriter

Payarc • Greenwich, CT

447d

About The Position

The Underwriter position is a full-time role focused on reviewing merchant accounts and analyzing financial and activity risks associated with merchant acquiring business. The individual will ensure compliance with laws and association rules while making daily decisions on merchant applications. This role is critical in empowering businesses by providing them with the necessary tools to process payments effectively.

Requirements

• 6+ months of relevant experience in underwriting merchant services accounts preferred.
• Excellent analytical skills and strong attention to detail.
• Ability to function in a fast-paced, changing environment with multiple priorities.
• Detail-oriented with the ability to prioritize tasks appropriately.
• Strong verbal and written communication skills.
• Advanced computer skills and proficiency in Microsoft Office.
• Knowledge of the acquiring credit card business, industry trends, and business risk factors.

Nice To Haves

• Bachelor's degree preferred.
• Strong technical aptitude and willingness to learn.
• Strong interpersonal skills for effective interaction with key internal and external contacts.
• Judgment and resourcefulness to solve problems independently.

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.
• Perform quality controls on submitted merchant applications.
• Track and manage workflow of all pending accounts weekly.
• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree