Merchant Services Underwriter, Risk & Chargeback Analyst

10 hours ago

🏖️ New Jersey – Remote

Although this job is listed in New Jersey, this company may be open to hiring remote in other states.

💵 $45k - $55k / year

⏰ Full Time

🟡 Mid-level

🟠 Senior

🧐 Analyst

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Millennium Systems International

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Beauty • SaaS • Wellness

Millennium Systems International is a company dedicated to empowering beauty and wellness businesses through their innovative software platform called Meevo. This mobile-friendly solution provides real-time data and AI-powered tools tailored for salons, spas, and med spas, enhancing client experiences and driving revenue. With features like online booking, appointment management, and integrated marketing tools, Meevo supports business growth while ensuring seamless operations across single-location and multi-location enterprises.

201 - 500 employees

💄 Beauty

☁️ SaaS

🧘 Wellness

📋 Description

• Review and underwrite merchant accounts • Order necessary searches to complete the underwriting process • Assess risk based on business type and expected volumes • Review supporting documents for completeness and accuracy • Review credit profiles and additional financials to support risk • Analyze previous processing statements to determine true parameters and potential exposure • Make reserve recommendations as needed • Review accounts while adhering to bank, federal, and card brand policies • Provide secondary analysis on escalated accounts • Communicate with Manager on decisions, escalating as needed • Perform periodic reviews of existing accounts for limit increases or changes to approved parameters • Create and maintain risk-related policies and procedures • Monitor transactional, batch, and authorization volume for merchant portfolio(s) and examine for anomalies • Perform financial risk analysis and possible exposure calculations, evaluating business financial positions, liabilities, payout delays, and reserve estimates for prospective and existing merchant accounts • Maintain and review current financial risk information on existing accounts • Investigate the credit card processing, monitor for chargebacks, flag suspicious refunds, and any suspicious/potential fraud on merchant accounts • Investigate accounts that have exceeded the parameters set by our risk management team and make real-time decisions on increasing or decreasing exposures and reserves • Utilize research and analytical tools to make sound funding decisions within a required timeframe as determined by management

🎯 Requirements

• 3-5 years of experience in Banking and Payments • Bachelor’s degree in a related field • Prior knowledge about Chargebacks, Financial Payments, and Banking Statement Financials • Excellent verbal and written ability • Intermediate Microsoft Excel skills • Strong analytical skills • Detail oriented, able to multitask and prioritize projects • Experience in communicating with clients about sensitive information. • Customer service oriented, ability to escalate & de-escalate situations accordingly. • Must be able to comply with applicable laws, rules and regulations impacting Cash Management service. • Must maintain knowledge of and ensure compliance with the Bank Secrecy Act and all other regulatory, security and bank policies • Experience with Infinicept is a PLUS

🏖️ Benefits

• Paid Time Off (PTO) and Holidays • Medical, Dental, and Vision Benefits • Life Insurance • Long-Term and Short-Term Disability Insurance • 401(k) Retirement Plan • Learning & Development Opportunities