Officer, Merchant Underwriter
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Monthly Salary:
Experience Required:
Posted on:
2 days ago
Vacancies:
1 Vacancy
Job Summary
Job Title: Officer Merchant Underwritter
Department: Operations
Reports To: Manager Card Operations
Location: Nairobi Head Office
Job Grade: Contract Staff
Availability: Immediately
Our client in the banking sector requires a role to evaluate and mitigate financial and regulatory risk by performing comprehensive due diligence on new merchant applications for POS and E-commerce ensuring alignment with CBK and POCAMLA requirements assessing merchant business models financial stability and creditworthiness to prevent losses from fraud and chargebacks and ensuring adherence to Visa Mastercard and China UnionPay scheme rules. The role also supports maintaining a healthy merchant portfolio through continuous monitoring of transaction patterns and periodic reviews of existing accounts post onboarding review.
RESPONSIBILITIES
1. Merchant Risk Assessment & Onboarding
Conduct thorough KYC/KYB checks (CR12 KRA PIN Director IDs).
Analyze financial statements and bank records to determine financial viability.
Perform targeted digital audits or site visits for high-risk merchants or those with historical chargeback ratios exceeding 1%.
Review and assign accurate Merchant Category Codes (MCC) based on risk profiles.
Coordinate with Risk and Compliance departments to ensure all anti-money laundering (AML) and fraud checks are cleared.
2. Decision Making & Risk Mitigation
Approve decline or recommend conditional approvals for merchant accounts.
Establish transaction limits settlement cycles and rolling reserves.
Negotiate risk terms with Sales teams without compromising bank security.
3. Compliance & Regulatory Oversight
Screen applicants against AML/CFT sanctions lists (FRC OFAC UN) and MATCH / VMSS.
Ensure merchant compliance with PCI DSS data security standards.
Maintain detailed audit trails for every underwriting decision.
4. Portfolio Monitoring & Reporting
Monitor for "Transaction Laundering" and suspicious volume spikes.
Investigate accounts with high chargeback ratios and initiate terminations if needed.
Escalate high-risk trends to the Manager Card Operations Manager Specialist Merchant Sales and Head Card Payments
Monitor dormant Terminals and recommend actions to various sales teams and Merchant analysts
KEY RELATIONSHIP
Internal: Card Operations Team Merchant Acquiring team E-commerce team Sales Fraud Investigation Unit Finance Legal and IT.
External: Central Bank of Kenya (CBK) FRC Card Schemes (Visa MasterCard CUP Payment Processors Merchants (as needed) Payment Processors Merchants (as needed) and Merchants
Requirements
QUALIFICATIONS AND EXPERIENCE
Bachelors degree in Finance Economics Business Law or a related field.
Minimum 2-3 years experience in risk management or merchant underwriting.
Deep knowledge of Kenyan regulatory frameworks (POCAMLA CBK Guidelines).
SKILLS AND COMPETENCIES
Strong analytical and investigative skills.
High attention to detail and accuracy.
Proficiency in risk-scoring models and data analysis tools.
Ability to work independently and meet tight onboarding deadlines.
Strong communication and interpersonal skills.
Required Skills:
QUALIFICATIONS AND EXPERIENCE Bachelors degree in Business Administration Marketing Finance or a related field. Minimum 2 years of experience in merchant acquiring customer onboarding or banking operations. Familiarity with KYC/AML regulatory requirements in a banking environment. SKILLS AND COMPETENCIES Strong organizational and project management skills. Excellent interpersonal and communication skills (verbal and written). Ability to multitask and manage a high volume of applications simultaneously. Proficiency in CRM software and Microsoft Office Suite. High level of integrity and attention to detail.
