Issuing Merchant Services Risk Analyst

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JOB FUNCTION / SUMMARY:

The Issuing Merchant Services Risk Analyst minimizes financial losses to the bank and its customers by identifying and mitigating potential fraud, credit and compliance risks through review of merchant and/or card issuing activity and various exception reports. This position conducts in-depth reviews, including periodic client reviews, and investigations on unusual/potentially suspicious transactions and higher risk activities. Takes immediate appropriate actions to mitigate risks associated with client relationships by utilizing appropriate risk mitigation policies, procedures and tools. This position works in cooperation with key internal and external stakeholders, including Bank Credit, Risk, Fraud, Legal, Compliance, relationship officers, Card Brands and various vendors. Identify and refer potential red flags to Bank compliance and risk team, including BSA.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Conducts transaction monitoring, periodic issuing/merchant reviews, reviews of transaction exceptions, chargeback and fraud reports, and investigations of unusual/potentially suspicious issuing/merchant activity.
• Exercises independent judgment while examining, identifying, and documenting high-risk/potentially suspicious account activity behaviors. Utilizes Bank and vendor applications, software systems, internet, social media, etc. as needed for performing in-depth risk reviews and investigations.
• Documents and reports risk review and investigation results activity.
• Takes immediate and on-going protective action to mitigate potential fraud, credit, compliance, reputational, legal and financial risks associated with merchant relationships and their card processing activities.
• Issues risk mitigation, loss recovery and account closure recommendations.
• Completes required work steps to implement risk mitigation, recovery and collection activities.
• Documents investigative summaries and submits referrals to BSA and Loss Mitigation departments.
• Maintains production and tracking reports.
• Maintains case files and risk management reports as required for compliance.
• Communicates findings to key stakeholders. Provides support to department associates and business partners to identifying high-risk and/or potentially suspicious/ fraudulent activity and taking action to prevent losses.
• Communicates with clients, vendors and business partners.
• Completes internal referral forms to BSA/AML departments and Corporate Investigations.
• Assists with projects and systems testing to ensure functionality with system upgrades and implementation of new systems, software, and reports.
• Assists with quality review of critical business processes, key business reports, underwriting files, investigative summaries, issuing/merchant information changes, and periodic reviews.
• Assists with records management, including creation and update/renewal of policy and procedure documents. Maintains and adheres to Bank recordkeeping standards.
• Adheres to compliance regulations related to bank fraud and loss prevention, including but not limited to Bank Secrecy Act, and other applicable banking laws and Card Brand rules and regulations.
• Assists with training new staff.
• Advises management of issues found.

SUPERVISORY RESPONSIBILITIES:

None

MINIMUM REQUIRED EDUCATION, EXPERIENCE & KNOWLEDGE:

• Bachelors or Associate's degree desired, or equivalent work experience
• 3+ years prior experience in merchant acquiring operations, risk management, compliance or fraud analysis experience or equivalent combination of education and experience. Financial Services experience preferred
• Working knowledge of Card Brand rules and regulations required
• Experience with composing Word Documents and building Excel spreadsheets
• Experience with problem solving and logical analysis of complex issues, assistance and communication with senior management
• Advanced knowledge of Microsoft Office Word and Excel
• Knowledge of Bank Secrecy Act regulations including KYC/CIP, OFAC, etc. banking/electronic payment operations, checks, deposits, wire, and ACH transactions
• Knowledge of primary merchant acquiring risks and fraud schemes
• Ability to read and interpret documents, including merchant processing statements, financial statements, tax returns, etc.

ESSENTIAL MENTAL & PHYSICAL REQUIREMENTS:

• Ability to travel if required to perform the essential job functions
• Advanced ability to communicate effectively orally and in writing
• Ability to work under stress and meet deadlines with minimal supervision
• Strong problem-solving, analytical, quantitative and technical aptitude with great attention to detail
• Ability to prioritize using time management and organization
• Self-motivated, driven, with a proven track record of exceeding goals
• Excellent teamwork; initiative and ability to resolve conflict
• Ability to operate related equipment to perform the essential job functions
• Ability to read and interpret a document if required to perform the essential job functions
• Ability to lift/move/carry approximately 10 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department/division an "undue hardship" then the employee must be accommodated; hence omitting lifting/moving/carrying as a physical requirement.

Equal Opportunity/Affirmative Action Employers. All qualified applicants will receive consideration for employment without regard to race, color, religious beliefs, national origin, ancestry, citizenship, sex, gender, sexual orientation, gender identity, marital status, age, physical or mental disability or history of disability, genetic information, status as a protected veteran, disabled veteran, or other protected characteristics as required by federal, state and local laws.