Merchant Specialty Risk Analyst
WFA Digital Insight
The demand for skilled risk analysts in the financial sector has grown significantly, with a 25% increase in job openings over the past year. As companies like Merrick Bank expand their digital services, the need for experts who can navigate complex risk landscapes has become more pressing. With its strong track record in non-prime lending and merchant acquiring, Merrick Bank offers a unique environment for professionals looking to make a real impact. Before applying, candidates should be aware that this role requires a deep understanding of risk mitigation strategies, strong analytical skills, and the ability to communicate effectively with stakeholders.
Job Description
About the Role
The Merchant Specialty Risk Analyst plays a critical role in supporting Merrick Bank's Specialty Risk and Service Provider Sponsorship Program Oversight activities. This involves daily, weekly, monthly, and quarterly monitoring of merchant portfolios to identify potential fraud, credit, and operational risks. The successful candidate will be responsible for developing a comprehensive understanding of merchant and partner activities, utilizing sound judgment to assess risk, and assisting with issue resolution.As part of the Specialty Risk team, the analyst will work closely with internal stakeholders, including Risk, Underwriting, Compliance, and Operations, to ensure adherence to Merrick Bank policies, card brand requirements, and program controls. The role also involves establishing and maintaining relationships with assigned partners and providing ongoing guidance on risk mitigation strategies.
What You Will Do
- Develop and maintain a deep understanding of merchant and partner activities to identify potential risks
- Conduct daily, weekly, monthly, and quarterly monitoring activities to support Service Provider Sponsorship Program Oversight and Specialty Risk initiatives
- Assist in developing risk mitigation strategies and recommending controls to reduce portfolio exposure
- Collaborate with internal stakeholders to assess account activity, communicate findings, and facilitate resolutions
- Establish and maintain relationships with assigned partners and internal stakeholders
- Provide ongoing guidance regarding risk mitigation strategies, onboarding requirements, and monitoring expectations for specialty merchant categories
- Perform reviews and investigations related to unusual activity, MCC alignment, policy adherence, and other identified risk indicators
- Maintain weekly risk tracking logs, supporting documentation, and audit evidence
- Support ongoing portfolio reviews, escalations, and strategic Specialty Risk initiatives as needed
What We Are Looking For
- College degree in a relevant field (Accounting, Finance, Business) or equivalent experience
- At least two years of relevant experience in risk analysis or a related field
- Strong investigative and analytical skills, with the ability to identify and assess risk
- Exceptional communication skills, both verbal and written
- Ability to work independently and collaboratively as part of a team
- Strong work ethics and sound judgment
- Ability to make real-time decisions and work in a fast-paced environment
- Experience with risk management tools and technologies
- Understanding of regulatory requirements and industry standards
Nice to Have
- Experience in the financial services industry, particularly in merchant acquiring or non-prime lending
- Knowledge of card brand requirements and program controls
- Familiarity with risk management software and systems
- Certification in risk management or a related field
Benefits and Perks
- Competitive salary and benefits package
- Opportunity to work with a leading financial institution
- Collaborative and dynamic work environment
- Professional development and growth opportunities
- Flexible work arrangements and remote work options
- Access to cutting-edge technology and tools
- Comprehensive health and wellness programs
- Generous paid time off and holiday schedule
How to Stand Out
- Highlight your analytical skills: Emphasize your ability to analyze complex data sets and identify potential risks in your application and during interviews.
- Showcase your communication skills: Provide examples of how you have effectively communicated risk assessments and mitigation strategies to stakeholders in the past.
- Familiarize yourself with industry regulations: Demonstrate your understanding of relevant laws and regulations, such as those related to financial institutions and data protection.
- Be prepared to discuss your experience with risk management tools: Highlight your experience with relevant software and systems, and be prepared to discuss how you have used them in previous roles.
- Emphasize your ability to work independently and as part of a team: Show that you can collaborate with others while also working independently to manage risk and mitigate potential issues.
- Stay up-to-date with industry trends and developments: Demonstrate your commitment to ongoing learning and professional development in the field of risk analysis.
- Prepare examples of your risk assessment and mitigation strategies: Be prepared to walk the interviewer through your thought process and decision-making when assessing and mitigating risk in previous roles.
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