Underwriter

We are a technology-driven company. We built our business with the purpose of empowering people and improving their organizations, one payment at a time.

We started our journey by providing smart and simple payment processing tools and products but haven’t stopped there. We are backed by a team of world-class experts and the best technology talent, and we are committed to helping more new businesses get started, increase the revenues of our customers, and bridge the gap between online merchants and payment solutions.

Our mission is to give companies the tools they need to change the future of their business.

Underwriter is responsible to review merchant accounts, analyze merchant financial and activity risk, ensure compliance with law and association rules, and other operational duties in the normal course of merchant acquiring business. Individual is responsible for the daily decisioning of merchant applications, reviewing applications received from agents and internal sales reps for business to accept credit and debit cards as payment of goods and services. Applications are reviewed to verify completeness of required documentation. Analyst has authority to make approval decisions within designated authority level.

Responsibilities & Duties

• 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

Skills/Competencies

• 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

Qualifications / Experience Required

• +6 months of relevant experience
• Experience underwriting merchant services accounts preferred
• 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

Education Requirements

• Bachelor’s degree preferred

PM22