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The Credit Risk Underwriting Analyst reports to the Director, CRU and Acquiring Partnerships and is responsible for all duties and responsibilities that fall under Credit, Risk, and Underwriting at Bluefin. This role involves coordinating the underwriting process for no liability merchant accounts, underwriting full liability merchant accounts, ensuring compliance with regulatory requirements, maintaining accurate records, managing the Risk detection and monitoring queues for all portfolios, executing risk mitigation strategies, conducting periodic reviews on high exposure merchant accounts, and facilitating communication between stakeholders. The Credit Risk Underwriting Analyst plays a critical role in supporting the efficient and effective evaluation of applications for merchant accounts and software services that Bluefin offers. This role is a critical piece of managing the risk on all Bluefin customer portfolios.
This is a remote position located in the United States.
Key Responsibilities
Underwriting:
- Underwrite all merchant applications for accounts that Bluefin holds the risk on.
- Conduct preliminary analysis of credit applications, including reviewing financial statements, credit reports, vendor results, and other relevant data.
- Understand all sponsor credit policies and retain a high level of knowledge regarding all such policies.
- Ensure full compliance prior to approval on all accounts that Bluefin holds the risk on.
Risk Assessment and Mitigation:
- Perform risk reviews on merchant accounts within Bluefin’s portfolio using detection queues and risk monitoring tools as needed and defined in policy.
- Take proactive and reactive action to implement risk mitigation strategies to prevent losses for Bluefin
- Assist underwriters in the evaluation of credit risk by providing relevant information and documentation.
- Prepare and submit credit risk assessments, status updates, and reports to the Credit Risk and Underwriting Director.
- Track risk events throughout their lifecycle to ensure proper handling
Regulatory Compliance:
- Ensure that all underwriting and risk activities comply with regulatory requirements and company policies.
- Maintain accurate and complete records of all credit applications, underwriting, and risk decisions.
- Prepare and submit regulatory and compliance reports as required.
Periodic Review
- Perform financial analysis on the merchants within the portfolio of merchants that have the highest financial loss exposure.
- Complete executive summaries and build risk calculators that accurately define strengths, weaknesses, and BF’s potential loss exposure.
- Take the appropriate actions to manage the merchants in the periodic review portfolio in order to get them to comply with Bluefin requirements.
Underwriting Coordination
- Coordinate the underwriting process for merchant services applications, including gathering necessary documentation and information when necessary.
- Serve as the primary point of contact for external underwriters, internal and external sales team members, applicants, and other stakeholders involved in the credit evaluation process.
- Ensure that all applications are processed within the specified SLA.
Documentation and Record-Keeping
- Maintain organized and up-to-date files and records of credit applications, underwriting decisions, risk decisions, and related documentation.
- Ensure the accuracy and integrity of all data entered into underwriting and risk systems and databases.
- Conduct regular audits of underwriting and risk records to ensure compliance and accuracy.
Communication and Collaboration
- Facilitate effective communication and collaboration between underwriters, applicants, and other stakeholders.
- Respond to inquiries and provide support to underwriters and applicants throughout the underwriting process.
- Coordinate and schedule meetings, calls, and other communications as needed.
Process Improvement
- Identify opportunities for process improvements and efficiencies within the underwriting process.
- Implement and maintain best practices for credit risk evaluation and underwriting.
- Assist in the development and updating of underwriting guidelines and procedures.
Training and Development
- Provide training and support to new underwriting staff on credit risk assessment and underwriting procedures.
- Stay informed about industry trends, regulatory changes, and best practices in credit risk management.
- Participate in continuing education and professional development opportunities.
Qualifications
- Bachelor’s degree in Finance, Accounting, Business Administration, Economics, or a related field.
- Minimum of 5 years of experience in credit risk assessment, underwriting, or a related field.
- Strong knowledge of credit risk principles, financial analysis, and regulatory requirements.
- Excellent organizational and time management skills, with the ability to manage multiple tasks simultaneously.
- Strong communication and interpersonal skills, with the ability to work effectively with diverse teams.
- Proficiency in financial analysis software, underwriting systems, and Microsoft Office Suite. Fiserv, Elavon, and Evo systems experience preferred.
- Detail-oriented with strong analytical and problem-solving abilities.
- Certification in credit risk management or underwriting (e.g., CRC, CCRM, CPP, CAMS) preferred.
Benefits