Apply on Employer Site

Payarc · 7 hours ago

Underwriter

Greenwich, CT

Full-time

Onsite

New Grad, Entry Level

0+ years exp

Payarc is a technology-driven company dedicated to empowering businesses through innovative payment processing solutions. The Underwriter role involves reviewing merchant accounts, analyzing financial risks, and ensuring compliance with relevant regulations to support the merchant acquiring business.

Financial ExchangesFinancial ServicesOnline PortalsSoftwareTransaction Processing

Responsibilities

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

Qualification

Underwriting merchant servicesCredit risk analysisMicrosoft Office proficiencyAnalytical skillsAttention to detailVerbal communicationWritten communicationInterpersonal skillsProblem-solvingTeam player

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