Risk Analyst - Payments Industry

Position: Risk / Fraud Analyst

Reports To: Director of Risk

Direct Reports: None

Description

Summary: Under general supervision, the risk analyst position is an individual contributor to a department responsible for the protection of financial losses for the company. Under general supervision, the Risk/Fraud Analyst conducts risk monitoring activities using online exception reporting tools and other investigative strategies to investigate unusual transactions processed on merchant accounts. Conducts investigations which includes holding funds on merchant deposits and communicating with agents until the investigation is completed. This department works closely with finance and is the last line of defense in mitigating financial losses to the company, merchants and partners.

Primary Responsibilities

· Review Merchant Exception Reports using an online reporting system to identify and mitigate risk and losses related to merchant credit card transactions processed daily

· When deemed appropriate, conducts investigations on merchant processing including suspending deposit until the investigation is completed.

· Collect documentation from merchants to verify information with issuing banks or other outside resources

· Conducts merchant interviews related to investigation

· Communicate with referring ISO/Agent on progress of investigations and holds affecting merchants

· Initiate or respond to e-mail communications with other MAC (Merchant Acquiring Committee) members regarding fraudulent or high-risk merchants; share information regarding merchant processing patterns where relevant to prevent further or future losses

· Daily case reporting

Skills Required

· Strong deductive reasoning skills; can infer information gathered from multiple sources

· Ability to identify patterns or recognize anomalies in a fast-paced environment

· Able to read and fully understand personal and business credit reports, bank statements in order to assess a merchant’s financial condition and wherewithal.

· Knowledge of payment processing and the various departments that connect with risk such as Underwriting, outside / inside sales

· Knowledge of ACH returns, chargebacks and how each relate to risk management

· Ability to convey difficult news compassionately in support of building long-term relationships with merchants and ISOs

· Ability to adhere to strict deadlines pertaining to financial holds and releases

· Ability to effectively communicate both written and verbal

Experience and Education

· Minimum of 3 years prior experience in a Risk Management or Credit Underwriting role, preferably within the payment card industry

· Prior use of transaction monitoring or risk assessment software and reporting tools

· Knowledge of G2 web monitoring systems

· Proficiency with Microsoft Office applications

· Payment industry knowledge

Hours required for this position are M-F 8:00 AM – 5:00 PM in office. Some holidays, weekends and overtime may be required occasionally.

Please submit salary requirements for immediate consideration

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Small financial services firm with an amazing team environment
Generous benefits package
401K with employer match