RISK AND UNDERWRITING MANAGER – MERCHANT SERVICES

Founded in 2021, NowPay LLC is proud to be a part of the family of Hankey Group companies. With assets over $20 billion combined, the Hankey Group has a 50-year track record of being an innovator in the automobile and finance industries led by our companies Westlake Financial, Nowcom and many others.
Based out of our Los Angeles and Agoura Hills offices, NowPay is a full-service registered ISO/MSP that offers card and ACH processing, point of sale hardware and software, and various other payment technology solutions that intend to help our clients operate effectively. We are driven to continuously develop new products and services to solve the ever-expanding need of small, medium and large businesses to connect with financial institutions and consumers. Our company conducts merchant underwriting, risk, onboarding and support in-house.

NowPay has a people-first culture with an emphasis on honesty and integrity whether it is with our employees, clients or partners. We are seeking experienced professionals to join the NowPay family and be an integral part of our rapid growth. Join our team if you are ready to make an impact today!

RESPONSIBILITIES
The primary responsibilities of the Risk and Underwriting Manager include but are not limited to the following:

• Responsible for NowPay’s RISK AND UNDERWRITING relating to its card and ACH processing services.
• Responsible for ensuring merchants process within card brand and NACHA guidelines.
• Act as a strategic advisor to senior management on underwriting and risk related matters across different products and deals.
• Continuously develop the necessary standards, procedures and policies for ensuring we have a merchant onboarding function that can scale.
• Conduct a comprehensive KYC/KYB analysis, including identify verification, 3rd Party credit agencies, financial reports, tax returns, and merchant processing statements to determine risk profile and overall credit worthiness.
• Assess risk by evaluating merchant industry type, transaction volume, average ticket, delivery timeframe, card present and card-not-present, etc.
• Assign the appropriate MCC that best identifies the merchant’s product or service.
• Perform enhanced due diligence on high-risk clients.
• Monitor existing merchant accounts to identify risky and/or fraudulent activity and make decisions on when to hold funds, delay deposits, and close accounts due excessive chargebacks/ACH returns, fraud, and non-compliance with card brand rules.
• Review all incoming chargebacks/ACH returns and assist merchants with filing rebuttals.
• Identify patterns and trends in our merchant portfolio to prevent fraud, non-compliance, and future financial loss.
• Proactively work with 3rd party vendors to adjust procedures and decrease risk exposure.
• Communicate with sponsor banks and vendors.
• Stay up to date on market trends and issues affecting the payments industry.
• Assist in continuously developing and enhancing our risk, underwriting and merchant onboarding responsibilities.
• All other duties as assigned such as providing merchant support, merchant on-boarding and any other needs to arise.

EXPERIENCE

• BS/BA degree (Finance, Business, or Economics) or combination of related work experience and education. Minimum 3 years experience in risk, credit, and/or underwriting roles.
• Strong knowledge of card brand and NACHA rules.
• Experience reviewing merchant applications and files for payment processing to ensure they are complete and ready for review.
• Experience in merchant underwriting and risk with a merchant processor, payment facilitator, SaaS provider, or fintech company.
• Competency with correctly interpreting credit bureau reports and bank and financial statements.
• Familiarity with payment industry merchant guidelines and high-risk business types.
• Experience with determining and communicating to other parties a status after review of a merchant of approve, pending, or decline based on financial, compliance, and/or fraud risks.
• Detailed knowledge of risk management best practices related to fraud and KYC/AML procedures, tools, and best practices relating to card and ACH processing.
• Experience working with sponsor banks and auditors.
• Ability to navigate through a start-up environment.
• This role is required to work out of either our Los Angles or Agoura Hills offices.

What’s the expected pay for this role?

• $$95,000 - $130,000 per year
• The exact starting compensation to be offered will be determined at the time of selecting an applicant for hire and will be dependent on a wide range of factors, including but not limited to geographic location, skill set, experience, education, credentials, and licensure when applicable.

FULL-TIME BENEFITS

• Medical, Dental, and Vision benefits
• Life Insurance and Long-term disability plans
• Flexible Spending Account
• 401K matching
• Employee Stock Ownership Program in a $18.2 Billion Company, plus company matching
• Wellness Programs
• Metro Tap Card and Metro-link Reimbursement (for Los Angeles, CA employees only)
• Career Path Opportunities
• Discounts on Parks, Museums, Movie Tickets, and Attractions
• Annual Flu Shot
• Paid Vacations Days
• Paid Sick days
• Paid holidays
• HGym (available in our Los Angeles, CA & Dallas,TX office)
• Rental Car Discounts, Dell Member Purchase Program
• UKG Wallet

ACKNOWLEDGMENTS
We will consider for employment all qualified Applicants, including those with Criminal Histories, in a manner consistent with the requirements of applicable state and local laws, including the City of Los Angeles’ Fair Chance Initiative for Hiring Ordinance.
We are an equal opportunity employer and do not unlawfully discriminate in employment. No question on this application is used for the purpose of limiting or excluding any applicant from consideration for employment on a basis prohibited by local, state, or federal law. Equal access to employment, services, and programs is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify a representative of the organization.

Job Type: Full-time

Pay: $95,000.00 - $130,000.00 per year