Merchant Services Underwriting Analyst

01/12/2023
Jericho, NY
Full Time
BS
Finance

Job Description

SUMMARY
Individual is responsible for the daily disposition of merchant applications, reviewing applications received from agents and independent sales organizations (ISOs) 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. A daily log is updated, and status is communicated to agent or ISO.

RESPONSIBILITIES:
• Perform data entry and perform quality controls on submitted merchant applications.
• Review accounts submitted by ISO and agent partners in accordance with the Bank's merchant policies. Those meeting pre-approval criteria are reviewed for concurrence and signed noting Bank acceptance. Applications above pre-approval thresholds or which do not meet the pre- approval criteria are analyzed. Analyst renders a recommendation to approve or decline within authority levels granted in the merchant policies and provides recommendation to management.
• Recommend 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 ISOs and risk managers to manage the risk structure imposed on accounts. Share industry knowledge.
• Provide operational assistance as needed to the Merchant Services Department including review of merchant transaction activity when it exceeds certain criteria as established at the time of underwriting.
• Track and follow up on status of all pending accounts weekly to ensure accounts are not processing without proper approval.
• Provide various reporting to management.
• Perform other duties and projects as assigned.
• Ensure that all activities are performed in compliance with federal, state and Bank Secrecy Act regulatory requirements.

QUALIFICATIONS
• 1-2 years prior merchant underwriting experience.
• Experience in analyzing financial statements.
• BA or BS in business or equivalent experience preferred.
• Detail-oriented and must have the ability to prioritize all tasks appropriately.
• Experience with computer skills: Microsoft Access, Word, Excel, Outlook and Internet savvy.
• Communicate effectively orally and in writing.
• Possess knowledge of the acquiring credit card business with respect to fraud and risk analysis.
• Ability to consistently meet deadlines.

Additional Details

Experience: 0-2 years