Credit Underwriter I

$43,888 - $43,888/Yr

Heartland Payment Systems - Jeffersonville, IN

Full-time - Entry Level

Jeffersonville, IN

Credit Intermediation and Related Activities

About the position

Every day, Heartland, a Global Payments Company, makes it possible for millions of people to move money between buyers and sellers using our products and unmatched services. Simply, we create meaningful technology-centered experiences that enable our customers to prosper. If you want to work like an entrepreneur, support and serve entrepreneurs and bring your expertise to a dynamic team, then Heartland is for you. If it's in your nature to work with a passion to provide tangible solutions for everyone you interact with, then join us and let's see what we can do together. As a Credit Underwriter I, you will be responsible for processing and reviewing client credit applications. You will make recommendations in accordance with sound credit-granting principles and compliance with Company, Sponsor Bank, and Legal policies and procedures. This role requires effective interaction with merchants, sales representatives, Senior Underwriters, and Management to achieve timely adjudication of applications while limiting loss, assessing risk, and protecting the company against fraud and other risks. Your primary duties will include risk calculation, where the approval limit is generally $50,000 for Underwriter I, in accordance with the US Credit Policy. You will need to understand the risks associated with the payment processing industry, including fraud, credit, regulatory, and legal issues. You will learn, maintain, and apply knowledge of fair lending issues, rules, and various internal and external policies and regulations in the underwriting processes of new merchant applications. Additionally, you will verify all information provided on the merchant application and supporting documentation, ensuring it is correct and consistent with required standards. You will also read, interpret, and analyze credit reports, financial statements, bank files, tax returns, and other similar documentation to assess the degree of risk and creditworthiness of prospective merchants. Compliance with laws, bank regulations, and corporate underwriting policies is crucial, and you will provide recommendations on merchant applications, identifying and escalating deals that exceed your approval authority. Effective communication, both verbal and written, is essential, as is the ability to demonstrate good listening, interpersonal, and teamwork skills. You will work with Senior Underwriters to seek alternative financing options or counter offers for merchants when the original request cannot be accommodated. Additional primary duties may be assigned as required.

Responsibilities

• Processes and reviews client credit applications.
• Makes recommendations in accordance with sound credit-granting principles and compliance with Company, Sponsor Bank and Legal, Policy and Procedures.
• Effectively interacts with merchants, sales representatives, Senior Underwriters and Management to achieve timely adjudication of applications.
• Limits loss, assesses risk, and protects the company against fraud and other risks.
• Calculates risk with an approval limit generally set at $50,000 for Underwriter I, in accordance with the US Credit Policy.
• Understands the risks associated with the payment processing industry (Fraud, Credit, Regulatory, Legal, etc.).
• Learns, maintains, and applies knowledge of fair lending issues, rules, and various internal and external policies and regulations in underwriting processes of new merchant applications.
• Verifies all information provided on the merchant application and supporting documentation is correct and consistent with required standards.
• Calls merchants regarding their applications when needed to verify information.
• Reads, interprets, and analyzes credit reports, financial statements, bank files, tax returns, and other similar documentation and public records.
• Analyzes all pertinent credit and financial information to assess the degree of risk and creditworthiness of prospective merchants.
• Ensures compliance with laws, bank regulation, corporate and divisional underwriting policies, procedures, and standards.
• Provides recommendations (approval, credit holds or declines, etc.) on merchant applications and identifies, documents, and escalates to management those deals that are over an Underwriter I approval authority as defined by policy.
• Communicates decisions effectively in both verbal and written communication.
• Demonstrates good listening, interpersonal, and team working skills.
• Works with Senior Underwriters to seek alternative means of financing or counter offers for all merchants/clients when the original request cannot be accommodated.

Requirements

• Bachelor's Degree in Finance or Accounting and 1+ years related experience and/or training; or equivalent combination of education and experience in a related field (Collections, Accounting, Underwriting, Credit Banking, Finance, Mortgage, Etc.).
• Typically no related experience required.

Nice-to-haves

• Previous knowledge of the payment processing industry is preferred.
• Previous experience with Salesforce preferred.
• Working knowledge of business financial statement analysis and review of tax returns preferred.
• Working knowledge of credit policies, procedures, principles, and philosophy preferred.

Benefits

• 401(k) matching
• Childcare
• Health insurance
• On-site gym
• Paid sick time
• Paid time off
• Tuition reimbursement