Underwriting Specialist
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Job Description
Underwriting Specialist at Payabli evaluates risk profiles and creditworthiness of potential clients. Collaborating with teams to guide applicants in a fintech environment.
Responsibilities:
- Conduct thorough analysis of merchant applications, including financial statements, processing history, and KYC documentation.
- Verify business legitimacy through entity formation documents, EIN verification, and ownership structure validation.
- Evaluate creditworthiness, processing behavior, and potential exposure risk for both credit card and ACH transactions.
- Flag and escalate high-risk or unusual business models to the Director of CRU for deeper review.
- Maintain comprehensive documentation of underwriting decisions, ensuring compliance with internal policies and regulatory standards.
- Interact with merchants to gather missing information, clarify discrepancies, or provide feedback on required improvements.
- Respond promptly and professionally to application-related inquiries and proactively guide applicants through the process.
- Educate merchants on underwriting expectations and provide tailored advice on best practices for application success.
- Partner with Compliance and Risk Analysts to support deeper risk investigations or chargeback-related assessments.
- Collaborate with CRU leadership to refine risk models, underwriting criteria, and approval matrices.
- Mentor and support junior team members by reviewing applications, offering feedback, and leading knowledge-sharing sessions.
Requirements:
- 2–5 years of experience in KYC/KYB, compliance, onboarding, or underwriting within a payments, fintech, or financial services organization
- Well-versed in identity verification protocols, including the review of business formation documents, beneficial ownership, and government-issued identification
- Working knowledge of AML/BSA regulatory frameworks, sanctions screening (OFAC), and customer due diligence (CDD/EDD) requirements
- Confident reviewing business models and legal structures, and can validate entity legitimacy and expected transaction behavior
- Detail-oriented and understand the importance of regulatory adherence across onboarding and ongoing monitoring
- Comfortable communicating with clients to collect and validate sensitive documentation, while maintaining a high degree of professionalism and care
- Thrive in a collaborative, fast-paced environment and bring a mindset of continuous improvement to workflows, tools, and procedures
- Bonus: Experience with compliance tools such as Alloy, Middesk, ComplyAdvantage, or similar vendor platforms
Benefits:
- Competitive base salary with strong performance-based upside potential
- Stock options with the potential to unlock more equity as we grow
- Flexible PTO
- Comprehensive medical, dental, and vision insurance
- 401K with company match, HSA, and pre-tax savings programs
- Monthly education fund to invest in your professional development and passion goals
- Fully remote work environment with a collaborative, supportive team culture
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