Job Posting: Head of Underwriting
At ONYX we provide innovative and reliable merchant payment solutions across both low-risk and high-risk industries is seeking a Head of Underwriter. The company prioritizes compliance, operational excellence, and strong sponsor bank partnerships.This is 100% remote role.
About the Role
The primary focus of the Underwriter is to review, analyze, make confident decisions, and recommendations for merchant applications. Analytical thought and attention to detail are imperative as is strong communication with related departments. Underwriters work closely with our Sales Support team to provide a seamless customer experience while ensuring appropriate risk assessment and controls.
Key Responsibilities
As an Underwriter, you will:
§ Review merchant applications and determine degree of risk by examining application forms, financials, credit, banking and business history
§ Compile complete and concise underwriting packets for merchant accounts including written summaries of risk assessment and evidence of findings
§ Validate and verify the legitimacy of the merchant’s business
- Evaluate owner and business financial standing and credit worthiness
§ Conduct various KYC checks
§ Assess risk by evaluating the merchant’s industry type, transaction volume, average ticket, delivery timeframes, etc.
§ Able to handle a broad range of volumes, ticket amounts and standard merchant documentation
§ Can analyze a mix of merchant applications in a wide variety of business types
§ Resolve discrepancies by utilizing available resources
§ Analyze previous processing statements to determine potential exposure
§ Assign the appropriate MCC that best identifies the merchant’s product or service
§ Make reserve recommendations as needed
§ Communicate with Sales and Acquiring Banks
§ Conduct periodic reviews on existing merchant accounts
§ Ensure internal systems are kept up-to-date with notes, supporting documentation and application updates
§ Understand the company commitments to uphold industry standards and how merchants may affect the company both financially and ethically
§ Participate in continuing education and stay informed on market and industry trends as it relates to fraud and risk
§ Contribute to the success of the team
Qualifications
We are seeking an Underwriter with the following skills and experience:
§ 5 years + full-time customer service, data entry, credit or risk based experience preferred
§ High School diploma or equivalent – minimum requirement; professional training is a plus
§ Must be able to sit for extended periods of time
§ Must be a team-oriented individual with a willingness to work all levels of applications with a positive attitude
§ Remain calm during escalated issues; not becoming defensive or irritated in stressful situations
§ Service-oriented and able to resolve grievances
§ Communicate effectively by telephone, email and in group meetings and discussions
§ Strong interpersonal skills and confidence interfacing with direct reports, peers, management, customers, and vendors
§ Good typing skills: excellent grammar skills required for electronic responses, recording of findings and communication with management
§ Ability to follow directions and procedures accurately, to organize facts and figures and present thoughts and ideas in a comprehensive format
§ Maintain a high level of productivity in a fast-paced environment
§ Basic arithmetic (addition, subtraction, multiplication, division)
§ Proficient computer skills with the ability to learn new software
§ Familiar with IRIS, TSYS, RE-PAY & LegitScript underwriting software.
Please respond to Ruben Pizana (Ruben@onyxprocessing.com) if interested.