Director of Risk and Underwriting

Summary

We are seeking a highly experienced and skilled professional to join our organization as a Payments Processing Risk and Underwriting Director. In this pivotal role, you will be responsible for overseeing the risk management and Underwriting functions of our payments processing operations. You will play a critical role in ensuring the profitability, compliance, and risk mitigation of our Merchant portfolio.

Duties & Responsibilities

Essential Functions

• Lead and manage a team of Risk analysts, underwriters, and support staff.
• Set performance goals and objectives for the team, conducting regular performance evaluations.
• Develop and implement effective risk management strategies and policies for payments processing, including credit, debit, loyalty and gift cards as well as ACH and check solutions.
• Monitor and analyze payment transactions, identifying potential risks and fraudulent activities.
• Develop and maintain underwriting guidelines for various payment processing solution
• Oversee the payments underwriting process, ensuring accurate and timely evaluation of creditworthiness.
• Ensure compliance with applicable laws, regulations, and industry standards governing payments processing.
• Collaborate with legal and compliance teams to address any compliance-related issues or concerns.
• Prepare reports and documentation for audits and regulatory examinations related to payments Risk and Underwriting.

Additional Functions

• Provide guidance, training, and mentorship to team members, fostering a culture of continuous learning and development.
• Collaborate with internal teams to implement risk mitigation measures and enhance fraud detection and prevention systems.
• Collaborate with sales and marketing teams to develop payment solutions that align with risk appetite and business objectives.
• Stay updated with industry trends, regulations, and best practices related to payments risk management.
• Conduct periodic reviews and assessments of Merchant portfolios to identify emerging risks and areas for improvement.

Requirements

• Bachelor's degree in finance, business, or a related field (Master's degree preferred).
• Extensive experience in payments risk management and Underwriting, preferably in a leadership role.
• In-depth knowledge of the payments industry trends, regulations, and best practices, specifically per the Card Brands and NACHA.
• Strong analytical and problem-solving skills, with the ability to interpret complex data and make informed decisions.
• Excellent understanding of credit risk assessment techniques and Underwriting principles.
• Familiarity with credit fraud detection and prevention strategies.
• Proficient in using risk management software and tools.
• Exceptional leadership and team management abilities.
• Excellent communication and interpersonal skills.

Basys provides technology and payment integration solutions for businesses across the country and Canada. We treat our team, clients, and vendors like people, not numbers. BASYS is proud to maintain the industry leading Net Promotor Score and a 90% customer retention rate of clients that continue to process, in an industry where retention rates often average closer to 70 to 75%. We feel that this is a perfect example of how our customer-oriented business model sets us apart.

Basys is an equal opportunity employer