BlueSnap is seeking a Manager of Underwriting who will be responsible for managing a global team of underwriters who review all merchant candidates applying for payment procesing with BlueSnap. The primary responsibility of the Underwriting function is to perform initial KYC/AML and credit reviews of merchant candidates, make recommendations on mitigations that will protect BlueSnap from financial loss, and undertake periodic reviews of complex merchants, while maintaining a positive customer on-boarding experience. These activities make up a key part of the onboarding decision making process at BlueSnap and require working relationships with Sales, Legal, Finance and Risk. The Manager of Underwriting is proactive, results oriented and is expected to be able to manage a small global team and work independently, to conduct moderate to complex risk analyses, and to present the analytical findings to the management team and acquiring banks as needed. This role requires strong analytical and problem-solving skills, attention to details, and excellent verbal and written communication skills. This role is responsible for understanding, improving, standardizing, documenting and providing training for the underwriting process.
This position is based in Waltham, MA.
- Review financial statements and/or commercial credit tools to conduct detailed investigations into merchant creditworthiness
- Periodic review of and reporting on existing merchants to ensure compliance with card scheme rules and regulations, and continued credit worthiness
- Train and manage underwriting team on the proper use of 3rd party validation tools, card scheme compliance matters, and the underwriting process and procedures.
- Identify and manage risk, escalating where appropriate
- Ensure processes operate as designed and that key indicators are in place to facilitate reliable analysis of the BlueSnap merchant portfolio
- Ability to work with and influence senior management regarding merchant on-boarding
- Ability to provide written proposals and work with acquirers to board large, complex merchants
Qualifications & Experience:
- Knowledge of AML, KYC, PCI, OFAC, MC/Visa compliance and equivalents in all relevant Domestic and International markets
- 5+ years of experience in credit, underwriting, and risk management preferably in the CNP payments industry and preferably managing the entire risk life cycle of customer accounts.
- 2+ years managing and motivating a small team
- Excellent written, verbal, facilitation and presentation skills
- Process orientation with a desire to improve processes and drive efficiencies
- Extensive multi-tasking and prioritization skills – needs to excel in fast paced environment with frequently changing priorities
- Attention to details
- Strong conceptual and quantitative problem-solving skills
- Skilled communicator with ability to influence others
- Proficient use of Excel and other MS Office applications.
- 4-year college degree
- Versed on Third Party Underwriting/Risk Solution Programs preferred
- In depth knowledge of card transactions and Visa/MasterCard regulations strongly preferred