Manager, Merchant Risk

2 weeks ago

Toronto, Ontario, Canada OTT Financial Full time

OTT Pay Group Inc. "(OTT Pay)" is a fully funded established FINTECH focused on delivering simplified financial payment products. With a strategic emphasis on both Acquiring and Issuing businesses, we are developing a mobile-first platform that offers straightforward banking services, loyalty solutions, and innovative products including credit cards, accounts, gift cards, mortgage, and more. We are goal-oriented, motivated by results, and forward-thinking. At OTT Pay, you will find numerous opportunities to learn and grow, alongside a cohort of talented individuals from diverse backgrounds and industries. Working collaboratively in an innovative environment, you will be encouraged to excel and make a meaningful impact. This presents a unique opportunity to join an organization committed to transforming financial solutions.

We are looking for a Manager, Merchant Risk to support our business growth in Toronto. The Manager, Merchant Risk will be reporting to the Chief Compliance Officer. As Manager, Merchant Risk, you will own and develop a comprehensive risk management framework covering each stage of the merchant lifecycle. The position involves working closely with stakeholders from Compliance, IT as well as the Business team to put together a robust merchant underwriting framework to manage all merchant risks such as possible fraud, credit, financial, compliance, regulatory or reputational risk.

The Manager, Merchant Risk helps to protect the Company and ensures that the organization remains compliant with all regulations and policies related to payments in Canada and the U.S. as well as those requirements of the Card Brands (such as Visa, MC, AMEX) and Program Acquirer Sponsors & Payment Processors as well as our Bank Service Providers. #LI-Onsite

What's in it for you:

  • Competitive salary
  • Extended Health, Dental, and Vision Benefits
  • Life and Disability Insurance
  • Vacation Leave
  • Centrally located modern and spacious offices close to Eglinton and Leslie
  • Free use of onsite Gym and Sports Facilities, and regular Company Social Events
  • Learning and Professional Development Support
  • A chance to work in a dynamic, collaborative, progressive and high performing team.
  • Community involvement through the annual Terry Fox Run
  • Tremendous opportunities for Growth and Development

How you will contribute:

  • Manages and supervises Underwriters, ensuring that they meet department objectives and SLAs.
  • Maintains and communicates list of High, Restricted, Prohibited sub-merchant types in policies, procedures and to staff.
  • Ensures that merchants are correctly ranked with Risk Categorizations, and ensures that all the risk factors are present and are weighted accurately in the merchant risk assessment calculator.
  • Ensures that Risk framework for Underwriting and ongoing monitoring includes enhanced monitoring or exit strategies.
  • Ensures that Risk framework for Underwriting includes Enhanced Due Diligence (EDD) of certain types of merchants based on merchant risk exposure, transaction volumes, CP vs CNP ratios, chargeback and refund ratios as well as merchant location and line of business. Consumer complaints directed to the merchant are to be flagged for enhanced due diligence of merchant activity.
  • Ensures that the Merchant Risk framework addresses preventative fraud controls and measures.
  • Reviews Account approvals and reviews by Underwriters of all Risk Categorizations.
  • Reviews High Risk Merchant applications or re-assessments and approves high risk merchants.
  • Ensures that Merchant ongoing reviews are completed on a periodic basis taking into account: business activity and volumes in line with application information; transaction monitoring outcomes; unusual activity, chargeback ratio, refund ratio; website content; consumer complaints.
  • Ensures that Merchant Underwriting procedures are well-documented and that Merchant underwriting procedures clearly define credit risk score approval, exception and denial levels as well as all considered risk factors.
  • Ensures that measures are put into place to disallow payment acceptance for merchants that engage in fraud. Ensures that watchlists are adhered to and updated to avoid future activity with merchants with negative history.
  • Ensures that daily exception monitoring and monthly monitoring of merchants is in place.
  • Implements effective tools for monitoring of daily exceptions, using meaningful factors based on parameters such as volumes, transaction count, card acceptance method, geography, MCC, refunds or chargebacks as acceptable or exceeding thresholds. Understands chargeback rules, works with Operations and Payment Processors on dispute management and resolution.
  • Prepares monthly or periodic reporting of activity as well as volumes and trends.
  • Develops and delivers risk training programs for the department staff.
  • Ensures that inbound complaints are handled expeditiously.
  • Prepares and files merchant risk reports of all activities, risks, action plans.
  • Standardizes business practices and ensures that Compliance Risks such as financial loss, material loss, fines and reputation in the market are identified and minimized.
  • Prepares for and participates in examinations with Independent Reviewers and regulatory examiners.

What you bring to the table:

  • Minimum of 5 years work experience in underwriting or risk and compliance within merchant acquisition, card issuance, or payment facilitator.
  • Must have at least 3 years experience as a Merchant Risk Underwriting Manager or Senior Underwriter.
  • Strong knowledge of merchant acquiring business, card issuance, card payment processing, risk management.
  • Certifications in Anti-Money Laundering or Financial Crimes with ACAMS, ACFCS or similar accredited organizations.
  • Bachelor's degree in Business, Finance, or a related field.
  • Ability to successfully lead a team while also balancing own projects and priorities.
  • Excellent written and oral communication skills.

Visit our website at

OTT Financial Group is committed to fostering an inclusive and accessible environment where all employees feel valued and respected, and where every employee can realize their potential. We are committed to providing reasonable accommodation, if required, and will work with you to meet your needs. We appreciate all applicants for their interest; however, only those candidates selected for an interview will be contacted.

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