The Merchant Risk and Underwriting Manager will be responsible for implementing components of VeritasPay’s risk management policies.
This position will partner with Sales, Merchant Operations, Product Management, Information Security and Finance teams to drive a data driven approach to the merchant underwriting and risk mitigation process.
DUTIES AND RESPONSIBILITIES
1. Be the key escalation point for all risk and underwriting related queries
2. Frequently educate the sales and operations teams on best practices regarding risk and fraud management
3. Review and assess merchant documents for accuracy, completeness and validity
4. Underwrite new merchants to identify possible associated risks, which include fraudulent activity, large credit exposure, and potential non-compliance to government or other regulatory bodies related to VeritasPay
5. Support the Sales and Operations Teams as the Subject Matter Expert with respect to VeritasPay’s risk, underwriting and merchant-onboarding requirements
6. Remain proficient in the current KYB/KYC and AML requirements relevant to merchant processing
7. Evaluate merchant products and services to ensure compliance with regulatory bodies and internal policies
8. Leverage internal and external tools and systems including public domain websites to verify merchant businesses and owner information
9. Monitor merchant transactions and flag suspicious transactions and activities
10. Acquire merchant data to better understand possible fraud opportunities
11. Escalate and work with acquirer in filing the SAR (Suspicious Activity Report) as needed
12. Provide concise oral and written summary recommendations regarding findings, issues and mitigants as needed
13. Work with the Product Team, Sales and Merchant Operations teams to resolve merchant risk issues and provide guidance on overall risk tolerance and policy
14. Test, review and improve underwriting tools and develop appropriate reporting for Stakeholders
15. Support the team in formulating strategy, process, and policy in managing risk and fraud
16. Capable of setting OKRs and KPIs to effectively manage a team
17. Carry out additional responsibilities as needed based on business need
JOB QUALIFICATION
1. Minimum 1-year to 3 years’ leadership experience in the payment field handling risk and/or underwriting
2. Proficient in knowledge of current KYB/KYC and AML requirements and standards relevant to merchant processing
3. Experience/knowledge in corporate compliance, business underwriting, financial analysis, sales and account management, payment industry, fraud detection, portfolio management, risk management, customer support and vendor interaction.
4. A graduate of any Bachelor of Science Degree or any other related Business Course
5. Previous experience from the payment industry working within merchant underwriting and credit risk
6. Previous experience and knowledge of the VISA and Mastercard scheme rules
7. Familiarity with acquirer processes in regards to merchant approvals and fraud escalations
8. Fast learner, can work under pressure and under minimal supervision
9. Candidate must be driven and ambitious, being able to work and think independently and act responsibly, and operate on one's own initiative
10. Candidate should be organized, a quick learner, with the ability to multi-task, work in a team and within a multi-culture environment
11. Reliability is essential and integrity a must
12. Fast paced approach, attention to detail and thoroughness; and
13. The ability to operate with strictest of confidentiality
14. Experience managing merchant risk across multiple geographic regions
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