Officer, Merchant Underwriter

Job Title:                Officer, Merchant Underwritter

Department:           Operations

Reports To:             Manager, Card Operations

Location:                Nairobi, Head Office

Job Grade:              Contract Staff

Availability:             Immediately                                                                                                                                                                          

Our client in the banking sector
requires a role to evaluate and mitigate financial and regulatory risk by
performing comprehensive due diligence on new merchant applications for POS and
E -commerce, ensuring alignment with CBK and POCAMLA requirements, assessing
merchant business models, financial stability, and creditworthiness to prevent
losses from fraud and chargebacks, and ensuring adherence to Visa, Mastercard,
and China UnionPay scheme rules. The role also supports maintaining a healthy
merchant portfolio through continuous monitoring of transaction patterns and
periodic reviews of existing accounts post onboarding review.

RESPONSIBILITIES

1.         Merchant
Risk Assessment & Onboarding

•                 Conduct thorough KYC/KYB checks (CR12, KRA PIN,
Director IDs).

•                 Analyze financial statements and bank records to
determine financial viability.

•                 Perform targeted digital audits or site visits
for high -risk merchants or those with historical chargeback ratios exceeding
1%.

•                 Review and assign accurate Merchant Category
Codes (MCC) based on risk profiles.

•                 Coordinate with Risk and Compliance departments
to ensure all anti -money laundering (AML) and fraud checks are cleared.

2.         Decision
Making & Risk Mitigation

•                 Approve, decline, or recommend conditional
approvals for merchant accounts.

•                 Establish transaction limits, settlement cycles,
and rolling reserves.

•                 Negotiate risk terms with Sales teams without
compromising bank security.

3.         Compliance
& Regulatory Oversight

•                 Screen applicants against AML/CFT sanctions
lists (FRC, OFAC, UN) and MATCH / VMSS.

•                 Ensure merchant compliance with PCI DSS data
security standards.

•                 Maintain detailed audit trails for every
underwriting decision.

4.         Portfolio
Monitoring & Reporting

•                 Monitor for "Transaction Laundering"
and suspicious volume spikes.

•                 Investigate accounts with high chargeback ratios
and initiate terminations if needed.

•                 Escalate high -risk trends to the Manager, Card
Operations, Manager, Specialist Merchant Sales and Head Card, Payments

•                 Monitor dormant Terminals and recommend actions
to various sales teams and Merchant analysts

KEY RELATIONSHIP

Internal: Card Operations Team, Merchant Acquiring team,
E -commerce team, Sales, Fraud Investigation Unit, Finance, Legal, and IT.

External: Central Bank of Kenya (CBK), FRC, Card Schemes
(Visa, MasterCard, CUP, Payment Processors, Merchants (as needed) Payment
Processors, Merchants (as needed), and Merchants

Requirements

QUALIFICATIONS AND EXPERIENCE

•                 Bachelor’s degree in Finance, Economics,
Business, Law, or a related field.

•                 Minimum 2 -3 years’ experience in risk management
or merchant underwriting.

•                 Deep knowledge of Kenyan regulatory frameworks
(POCAMLA, CBK Guidelines).

SKILLS AND COMPETENCIES

•                 Strong analytical and investigative skills.

•                 High attention to detail and accuracy.

•                 Proficiency in risk -scoring models and data
analysis tools.

•                 Ability to work independently and meet tight
onboarding deadlines.

•                 Strong communication and interpersonal skills.