Sr Underwriter

Description

The primary responsibility of this role is to evaluate and render a decision on new high-risk merchant applications within Fortis’s Credit/Underwriting policy to minimize monetary losses associated with financial, compliance, and fraud risks. 

The Sr. Underwriter is proactive, results oriented and is expected to be able to work independently, to conduct complex risk analyses, and to present the findings to the management team, as well as handle low level escalations and training to the underwriting team. 

This role requires leadership skills, analytical and problem-solving skills, attention to details, and effective communication skills.  The Sr. Underwriter role also requires the ability to breakdown and read financial statements. 

ESSENTIAL DUTIES 

• Process applications and make decisions based on consumer credit reports, business financial condition, know-your-customer (KYC) and other information.
• Review the merchant's application, credit report and background report and ultimately approve or decline that application based on all the information obtained.  
• Verify all application information through cross reference checks, review business financials to assess credit worthiness of applicant, review merchant websites for compliance, business types and product verification, perform additional searches, reference checks, and bank verifications as necessary.
• Ensure all files have all required documentation uploaded to database and conduct quality assurance audits for approved applications.
• Responsible for reviewing the auto-pended applications and make quick decisions on accounts not auto-approved by our underwriting system.
• Perform financial analysis write ups and reviews for pre-approval or second concurrence with our processors.
• Assist in the daily review of the underwriting queue and provide escalation to Underwriting Manger as needed.
• Act as an initial escalation point for and provide training to underwriting team.
• Assist Manager with updating documentation and credit policies and distributing them within the organization, as well as training the sales organization when necessary.
• Assist with special projects, i.e., audits, conversions and other operational priorities as needed.
• Handle outbound and inbound contacts with courteousness, integrity and in a professional manner
• Perform other duties as assigned.

Requirements

QUALIFICATIONS

To perform this job successfully, the individual must be able to perform each essential duty satisfactorily. The requirements   listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions:

• Financial Payments experience utilizing underwriting (PayFac model) systems within the payments industry to identify and mitigate risk related to merchant processing.
• Proven ability to analyze financial statements and write detailed evaluations
• Understanding of KYC/AML review utilizing Lexis/Nexis, Experian, MATCH, OFAC and TIN Check.
• Strong relationship management and written and verbal communications skills 
• Ability to work in fast paced environment.
• Possesses a sense of urgency to meet client expectations
• Collaborative and results-driven problem solver
• Ability to look at situations from several points of view and craft solutions and responses

Education/Experience:   

• Four-year degree preferred or equivalent work experience
• 3 years’ experience in the PayFac/Financial Services/Credit Card/Merchant Processing industry.
• Knowledge of Payment Processing preferred

Computer Skills:  Advanced computer skills in Word, Excel, Outlook, CRM and ability to multi-task between programs.

Work Environment:  The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 

The employee may have to occasionally lift and/or move up to 10 pounds. Vision abilities include distance vision, close vision and ability to adjust focus. The employee is frequently required to talk or hear. The employee is frequently required to stand; walk; sit and use hands to finger, handle, or feel. The noise level in the work environment is usually moderate.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. (Consider- sitting for long periods of time, standing, typing, kneeling, crouching reach with hands and arms, lift and or move up to “10” lbs.)

The above job description is not intended to be an all-inclusive list of duties and standards of the position. Incumbents will follow any other instructions, and perform and other related duties, as assigned by their supervisor.