Underwriting & Compliance Specialist
About The Position
Approvely is seeking a Underwriting & Compliance Specialist responsible for evaluating merchant applications, assessing risk, and ensuring merchants meet compliance standards before onboarding onto the platform. This role sits at the intersection of risk management, compliance, and merchant onboarding, helping protect the platform while enabling growth. The position requires strong analytical thinking, attention to detail, and familiarity with payment processing risk and regulatory frameworks. You will work closely with Sales, Customer Success, Product, Engineering, and sponsor banks to ensure merchants are onboarded properly and monitored throughout their lifecycle.
Requirements
- 2–5 years experience in payments, fintech, banking, or merchant acquiring
- Experience with merchant underwriting, onboarding, or risk review
- Understanding of payment processing and merchant risk
- Strong analytical and problem -solving skills
- High attention to detail and documentation
Nice To Haves
- Experience with high -risk or regulated industries, including:
- Online gaming
- Crypto
- Remittance
- Sweepstakes
- Knowledge of Visa/Mastercard rules and sponsor bank programs
- Experience with KYC/KYB processes
- Familiarity with CRM, underwriting platforms, or risk monitoring systems
- Strong spreadsheet/data analysis skills.
Responsibilities
- Review merchant applications and supporting documentation to assess risk and eligibility.
- Evaluate merchant business models, ownership structures, and operational risk.
- Assess financial stability, processing history, and potential chargeback exposure.
- Ensure merchants operate within:
- Sponsor bank requirements
- Card network rules (Visa / Mastercard)
- Internal risk policies
- Identify high -risk indicators including fraud risk, chargeback exposure, or regulatory concerns.
- Manage merchant onboarding from application submission through account activation.
- Collect and verify required onboarding documentation, including:
- Business formation documents
- Ownership and KYC/KYB verification
- Banking information
- Processing statements
- Compliance policies and licensing
- Ensure merchant files are complete and “in good order” prior to approval.
- Coordinate with internal teams to ensure smooth merchant launches.
- Conduct KYC / KYB verification and business due diligence.
- Ensure merchants meet regulatory and compliance requirements for supported industries.
- Review licensing, legal opinions, and other regulatory documentation when required.
- Ensure merchant activities align with sponsor bank and network compliance standards.
- Monitor merchant processing activity and risk indicators.
- Investigate alerts related to:
- Chargeback spikes
- ACH returns
- Suspicious transaction activity
- Conduct periodic portfolio reviews to reassess merchant risk profiles.
- Recommend risk mitigation measures such as:
- Processing limits
- Reserve requirements
- Enhanced monitoring.
- Help refine internal underwriting workflows and policies.
- Identify opportunities to improve onboarding efficiency and reduce manual work.
- Support tooling improvements and internal documentation.
- Partner with:
- Sales
- Customer Success
- Engineering
- Product
- Compliance partners and sponsor banks
- Escalate complex or high -risk merchant cases when needed.
- Assist with maintaining underwriting documentation and internal policies.
Benefits
- Competitive salary
- Equity participation opportunity
- Health Insurance
- Flexible work environment
- Opportunity to work directly with company leadership
- Career growth opportunities as the company scales
- Exposure to the fintech, payments, and gaming industries
- Collaborative and entrepreneurial startup culture
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
