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Job Description
The Merchant Underwriting Specialist is responsible for reviewing and analyzing merchant applications to qualify their credit worthiness. The Merchant Underwriting Specialist will follow Elements-FT Underwriting and Due Diligence policies and guidelines to mitigate overall financial and reputational risk exposures.
Roles & Responsibilities:
- Review merchant applications to ensure they match company underwriting policies and procedures.
- Gather all information required to make a comprehensive assessment of a merchant’s creditworthiness, including credit reports (I-Score), OFAC checks, MasterCard MATCH system checks, and address verification.
- Perform initial & periodic site visits to merchant premises for risk assessment & inspection purposes.
- Perform ongoing and periodic merchant portfolio checks.
- Interact with internal stakeholders such as Sales & Customer Success departments in order to overcome any Underwriting issues.
- Handle incoming inquiries, requests, and updates received from Acquirer Bank.
- Prepare periodic MIS & performance reports to line manager regarding applications approval rates, and rejection reasons.
- Handle other duties or special projects as assigned by line manager.
Job Requirements
Our perfect match
- 3+ years of payments underwriting or acquiring risk experience in a Bank or a Payment processing environment.
- Significant domain expertise in merchant on-boarding and ongoing portfolio risk monitoring.
- Knowledge of merchant processing, particularly risk and operational processes.
- Proper knowledge of card schemes (Visa / MasterCard) regulations.
- Strong analytical skills.
- Developed risk assessment skills.
- Skillful in Microsoft office (Word, Excel, PowerPoint).
- Excellent verbal and spoken English language.
- Ability to work and communicate in a fast-paced environment.
- Bachelor degree
