Underwriter

3 weeks ago


Greenwich, United States PayArc Full time

DescriptionWe 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 havent 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.RequirementsUnderwriter 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 & DutiesReview accounts submitted in accordance with regulatory merchant standard policies and sponsor banks policyPeriodically review existing merchants to ensure compliance with Underwriting Guidelines and risk standardsPresent risk mitigation techniques to minimize financial loss exposure to the Bank when creating and/or approving proposed risk structures for a merchant accountWork with underwriters at sponsor banks and risk managers to manage the risk structure imposed on accountsIndependently make credit risk decisions for approval, credit holds or declines of merchant applicationsCommunicate underwriting approval and declines decisions effectively in both verbal and written communicationAnalyze credit and financial statementsCredit authority of $100,000Perform quality controls on submitted merchant applicationsTrack and manage workflow of all pending accounts weeklyPerform other duties and projects as assignedProvide operational assistance as needed when a merchant needs to be added to the watchlist, limits change and account closureProvide various reporting to managementOther duties as assignedSkills/CompetenciesExcellent analytical skills, strong attention to detailAbility to function in a fast-paced, changing environment with multiple prioritiesDetail oriented and must have the ability to prioritize all tasks appropriatelySense of ownership and pride in your performance and its impact on companys successTeam playerHighly proficient verbal and written communication skillsStrong technical aptitude and willingness to learnStrong interpersonal skills for interacting effectively with key internal and external contactsJudgment and resourcefulness to solve problems independentlyQualifications / Experience RequiredExperience underwriting merchant services accounts preferredAdvanced computer skills and proficient in Microsoft OfficePossess 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 merchantsEducation RequirementsBachelors degree preferred#J-18808-Ljbffr

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