Underwriting Specialist

Company Description IPpay, LLC is a global electronic payment processor offering a wide range of merchant services with a focus on Card-Not-Present (CNP) recurring payments. The company’s platform is designed for simple implementation and seamless integration, helping merchants improve cash flow without disrupting cardholder experiences. IPpay provides flexible, month-to-month agreements with no early termination fees, low-to-zero gateway costs, tokenization, expired card billing, and uninterrupted recurring transactions. As part of the ConVergence Technologies family of companies, IPpay benefits from a strong technology and financial services network that supports business growth and innovation.

Role Description The Underwriting Specialist role at IPpay, LLC is a full-time, on-site position based in West Palm Beach, FL. In this role, the specialist reviews merchant applications, financial statements, and risk profiles to determine creditworthiness and compliance with company policies and industry regulations. Daily tasks include analyzing transaction patterns, assessing fraud and chargeback risk, validating business documentation, and making informed approval or decline recommendations. The specialist collaborates with sales, risk, and operations teams to clarify underwriting decisions, resolve application issues, and ensure a smooth onboarding experience for new merchant accounts. This role also involves maintaining accurate records, updating underwriting guidelines, and supporting continuous improvement in risk management processes.

Qualifications

• Experience in underwriting, risk analysis, or credit evaluation in payments, financial services, or a related industry.
• Strong analytical and quantitative skills, including the ability to interpret financial statements, transaction data, and risk indicators.
• Knowledge of payment processing, merchant services, and Card-Not-Present (CNP) environments, including fraud and chargeback dynamics.
• Familiarity with regulatory and compliance requirements relevant to electronic payments and financial services.
• Excellent written and verbal communication skills for explaining decisions and collaborating with internal teams and external stakeholders.
• High attention to detail and strong organizational skills to manage multiple applications and deadlines accurately.
• Proficiency with standard office software and business systems; experience with underwriting or risk management tools is a plus.
• Bachelor’s degree in Business, Finance, Accounting, Economics, or a related field, or equivalent practical experience.
• Ability to work on-site in West Palm Beach, FL, and function effectively in a fast-paced, team-oriented environment.

Job description:

Job Overview

The Underwriting Specialist is responsible for reviewing and analyzing merchant applications to determine creditworthiness and ensure compliance with policies, AML standards, and FinCEN regulations. This role provides critical support to Sales, Risk, Compliance, ISVs, and merchant partners by identifying financial, reputational, and fraud risks, while ensuring applications are processed efficiently and accurately.

Duties

• Conduct credit and risk analysis of merchant applications, including financial statement review and corporate viability assessments.
• Verify banking information and investigate documentation legitimacy in line with underwriting policies, AML, and FinCEN requirements.
• Identify potential fraud risks and monitor ownership, pricing, and business changes.
• Prepare clear written analyses, summaries, and recommendations for management decisions.
• Process merchant maintenance requests (ownership changes, pricing updates, account modifications).
• Support Sales and Underwriting teams by ensuring application quality assurance and workflow efficiency.
• Answer internal and external inquiries regarding underwriting issues.
• Respond to escalated inquiries from merchants, ISVs, partners, and vendors via phone and email.
• Track and report underwriting data to internal teams and regulatory bodies.
• Maintain timely and professional communication and follow-ups through resolution.

Requirements

• Minimum 2 years of underwriting and credit analysis experience .
• Required: AML and FinCEN compliance experience .
• Experience in the bankcard, payments, or banking industry preferred.
• Ability to read and interpret financial statements.
• Strong analytical and problem-solving skills with sound business judgment.
• Excellent written and verbal communication skills.
• Proficiency with Microsoft Office (Word, Excel, Outlook).
• Strong organizational skills with ability to manage multiple priorities in a fast-paced environment.

Compensation & Benefits

• Salary: $50,000 – $75,000 base salary, plus performance-based bonus.
• Benefits include:
• Paid vacation and holidays
• 401(k) retirement plan
• Health, dental, and vision insurance (low employee rates)
• Flexible Spending Accounts
• Opportunity for upward mobility within a fast-growing, award-winning technology company.

Benefits:

• 401(k)
• Dental insurance
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Vision insurance