Underwriting Manager in London

payabl. empowers businesses to grow through payments innovation and banking services. Our ambition is to expand our strong portfolio of global financial services we provide to businesses and make them all available in one place on our platform we call payabl.one. As a licensed financial company with principal membership with card schemes, we specialize in global payments and providing businesses with multi-currency accounts.

About the role: The Underwriting Manager will play a critical role in the company’s risk management process, overseeing the end-to-end underwriting workflow — from merchant assessments and onboarding reviews to ongoing portfolio monitoring. The role combines strategic thinking with hands-on analytical execution, requiring strong skills in analyzing transaction data, identifying suspicious activities or red flags, and ensuring compliance with the card schemes rules and internal risk policies. This position demands both process ownership and cross-functional collaboration across Risk, Compliance, Operations and Sales to continuously improve underwriting frameworks, enhance documentation, and uphold the company’s data-driven approach to risk management. The ideal candidate will be confident in taking independent responsibility for underwriting practices while maintaining open communication and alignment with other teams to mitigate financial risks and safeguard the business.

Location: Limassol, Cyprus or London Office

Reporting line: Head of Underwriting Monitoring

What you will do:

• Facilitate merchant underwriting and onboarding assessments.
• Monitor merchant portfolios to flag or identify suspicious activity, reviewing transaction data to detect risk patterns, anomalies, and potential red flags.
• Conduct risk assessment, registration, and monitoring of third-party agents, ensuring compliance with Card Scheme regulations, internal policies, procedures, and APM requirements.
• Investigate any transactional patterns that deviate from expected activity and recommend appropriate risk mitigation controls.
• Handle queries and resolve risk-related issues with prospective and existing merchants.
• Ensure adherence to company, Card Scheme, and payment provider rules and policies.
• Generate reports and insights regarding merchant activity, supporting periodic and ad-hoc reviews and audits.
• Refine and enhance internal underwriting processes, playbooks, and documentation, contributing to continuous improvement and sharing best practices.
• Collaborate closely with Risk, Compliance, Operations and Sales teams to ensure alignment on risk appetite, decisions, and portfolio management.
• Handle complex or escalated underwriting cases, providing data-backed recommendations.
• Provide subject-matter expertise and guidance to junior underwriters or analysts.
• Contribute to tool and system improvements to optimize transaction monitoring and decision-making efficiency.
• Support training and knowledge-sharing initiatives within the Risk team to maintain and build a strong risk culture.

Who you are: You are a detail-oriented and analytical risk professional with hands-on experience in merchant underwriting, online due diligence, and fraud risk assessment. You understand how to identify red flags, assess credit and transaction laundering risk, and have strong knowledge of Card Scheme rules (Visa, Mastercard, and AMEX) as well as internal policies, ensuring safe and compliant merchant onboarding.

What we need:

• Minimum of 1 year of experience in a similar role, preferably in merchant underwriting, credit risk, or transaction monitoring within a financial services or fintech environment.
• Prior experience in Acquiring, Payment Facilitator, or Card Schemes operations is highly desirable.
• Proven experience in merchant underwriting, including onboarding, CDD, KYB, and managing high-risk or low-risk merchant portfolios.
• Familiarity with underwriting tools such as Webshield, Truebiz, G2, LegitScript, EverC, and Ballerine; relevant tool certifications are a plus.
• Solid understanding of Card Processing and experience working with Visa, Mastercard, and AMEX regulations, including detecting non-compliance and escalating appropriately.
• Strong analytical skills to flag suspicious activities, identify risk patterns, interpret transactional and financial data, and recommend appropriate mitigation strategies.
• Proven ability to follow procedures, manage workloads under deadlines, and handle stress effectively.
• Excellent collaboration and teamwork skills, with experience working closely with Risk, Compliance, Operations, Sales and other cross-functional teams.
• High levels of organizational skills, attention to detail, observation, and diligence.
• Familiarity with fraud detection, chargeback monitoring, and risk assessment frameworks is a plus.
• Adaptable to changing risk landscapes and evolving Card Scheme regulations.
• Demonstrated ability to operate independently while maintaining strict compliance with internal policies and external regulations.

The perks of being a payabl.er:

• Future-Proof Your Finances: Once you’ve passed probation, we’ll kickstart your Provident Fund to secure your future.
• Grow with Us: Annual Learning Budget for professional development (after probation)—because your growth is our growth.
• Wolt Your Way Through Lunch: €150 monthly Wolt allowance to keep you fueled and happy.
• Drive in Style: After one year with us, you may be eligible for a company car—performance and availability permitting.
• Park with Ease: Complimentary parking space just steps from the office, so your commute is as smooth as your workday.
• Max Out Your Downtime: 25 days of vacation + public holidays, plus an additional 10 sick days to rest when needed.
• Shop Save – Discounts: Exclusive local discount card + tickets for exciting events like Beonix, basketball games, and more.
• Speak Like a Local – Language Classes: Join free Greek language classes, twice a week, open to all team members.
• Celebrate Together: Twice a year, we bring colleagues from all offices together for unforgettable company celebrations.
• Global Collaboration Events: Opportunities to participate in international company events and initiatives, connecting with colleagues from all regions and contributing to a truly global community.

Please note: the posted benefits are for Cyprus office. As this role is open to multiple locations, the benefits and employment conditions may vary depending on your location. A full overview of applicable benefits and conditions will be discussed during your first interview with our Talent Acquisition team.

Our Hiring Process: First Interview: Conducted by the Talent Acquisition team (30-40 min). Technical Interview: Meeting with the Head of Underwriting Monitoring for a technical discussion and problem solving assessment. Final Interview: A final meeting with the Chief of Risk to explore how well you align with our culture and values.

Let’s embark on a journey to redefine the landscape of payments together. We’re not just offering a role; we’re inviting you to be a part of something bigger. Join our team, and let’s innovate, disrupt, and lead the future of payments. Together, we can make an impact that resonates. Welcome to the team!

If this role seems like a good match, please submit your resume; all applications are treated with the strictest confidentiality. Please note that we may keep your CV for a period of one (1) year for future relevant job opportunities. For more information about how we process your data please see our privacy policy at https://www.payabl.com/privacy-policy.