Description
Risk Manager
Location: London
3 months Contract
The Product Owner is responsible for defining, managing and prioritising all aspects of our products and services. Products may include Back End payment services (PSP, acquirer integration) and/or development of Software as a Service (SaaS). Product Owners are involved in the full software development life cycle from idea through to launch and on-going maintenance. Product Owners must focus on the value of a product or service to merchants and end users, as well as commercially within the business.
Main Purpose of Role:
- The individual will be responsible for the Risk function and the duties surrounding the underwriting of new clients to the Payments platform and the ongoing Risk Management thereafter.
- Through a full Risk Management monitoring process, they will ensure the Product Owner is not unduly exposed due to the risk that Fraud and Chargebacks present from a credit perspective.
- They will ensure that Risk Management Procedures are in line with industry best practises and documentation is kept updated
- Line Manager responsibilities for Risk and Compliance analyst(s)
Key Responsibilities:
- Conduct Underwriting of new merchant Applications, including compliance with Credit Policy and risk assessment
- Effectively analysing financial statements as well as reviewing credit assessments and general financial information
- Demonstrating an excellent knowledge of Mastercard and Visa scheme rules and regulations and ensuring that merchants comply therewith
- Managing the Credit Policy designed to enhance awareness of various risks associated with the industry and to ensure compliance with business needs, protecting the brand of the company
- Maintaining appropriate securities for merchants and negotiating increases with them in the event of deficits being identified
- Undertake Risk Reviews where necessary ensuring merchants who are showing signs of deterioration are treated with urgency (such as settlement being disabled, termination, etc)
- Identify and analyse fraud and chargeback levels on a merchant by merchant basis
- Monitor settlements due to merchants on daily/weekly basis and review any merchants who show significant variances
- Identify fraud trends at individual and portfolio level. Make recommendations to improve/mitigate negative trends.
- Respond to Card scheme alerts via our Acquiring Partners
- Develop fraud identification tools and procedures in line with Scheme and Compliance changes. Also, make recommendations for development in response to trends seen.
- Develop Fraud and Chargeback Monitoring best practice within the Risk team
- Communicate with Merchants of entry into Card Scheme Fraud and Chargeback Programs; Work with them to produce Plans to exit schemes and minimise the impact of potential scheme fines
- Alert merchants of identified high risk/fraud prone transactions
- Provide Weekly/Monthly Chargeback and Exposure Reporting to the Senior Management Team
- Maintain close relationships with acquiring partners and ensure weekly/fortnightly calls are carried out to discuss outstanding issues
Knowledge, Qualifications; Experience Requirements:
Essential:
- At least 3 years experience in a Risk related role
- Demonstrable experience of the different types of risks to which Product Owners may be exposed
- Be able to identify and deal with potential risk quickly and proactively to minimise impact
- Working experience within a financial institution dealing with processing of new applications
- Ability to interpret data and to assess trends/patterns
- Strong team player with excellent communications skills
- Confident with the ability to use initiative and work with minimal supervision
- Excellent telephone manner with the ability to build effective working relationships and deal professionally with any issues
- Fluent English speaker
Desirable:
- Previous PSP, Acquirer or Card Scheme experience
- Experience developing staff through coaching and mentoring