At a Glance
- Tasks: Lead complex underwriting and onboarding of merchants, ensuring compliance and risk management.
- Company: Join Ryft, a pioneering payment facilitator transforming modern commerce.
- Benefits: Competitive salary, flexible working options, and opportunities for professional growth.
- Other info: Dynamic team environment with a focus on innovation and collaboration.
- Why this job: Make a real impact in the payments industry while guiding junior team members.
- Qualifications: Extensive experience in merchant underwriting and credit risk analysis required.
The predicted salary is between 56700 - 69300 £ per year.
About Ryft
Ryft is a regulated payment facilitator and authorised payment institution building the infrastructure layer for modern commerce platforms.
We enable marketplaces, Saa S platforms and multi-party ecosystems to embed and monetise payments natively.
Our technology handles onboarding, compliance, orchestration, split payments and revenue sharing, allowing our partners to focus on growth while we manage complexity.
We are now entering the next phase of scale, expanding into new verticals and building a category-defining embedded payments platform.
About the role
We are looking for an experienced Senior Underwriter to join our Underwriting team.
As a Payment Facilitator, we onboard and oversee our merchants directly.
You will assess and onboard a varied portfolio of these merchants, with a focus on marketplaces and platforms.
You will own complex underwriting cases from start to finish.
This includes reviewing ownership structures and financial health, setting risk exposure limits, and making clear recommendations that protect the business while helping our merchants grow.
This is a senior position.
You will be expected to use sound independent judgement, guide less experienced colleagues, and help improve our underwriting policies, procedures and tools.
Key responsibilities
- Lead the end-to-end underwriting and onboarding of merchants, including complex cases, ensuring decisions follow internal risk appetite, regulatory requirements and card scheme rules.
- Underwrite marketplaces and platforms, assessing the business model, flow of funds and customer journey.
- Onboard merchants with complex organisational structures, including multi-layered ownership, group entities and cross-border structures, identifying ultimate beneficial owners and controllers.
- Screen merchants, directors, UBOs and connected parties for PEP status, sanctions and adverse media using screening tools, and assess and elevate potential matches appropriately.
- Review merchant websites using third-party website monitoring providers to identify content violations, prohibited or restricted products and services, missing or inadequate terms and conditions, refund and privacy policies, and inconsistencies with the declared business model.
- Carry out credit risk analysis on merchants by reviewing financial statements, management accounts and bank statements to evaluate liquidity, profitability, solvency and trading patterns.
- Assess financial exposure, including chargeback, refund and delivery risk (e. g., future delivery and prepayment models), and recommend suitable mitigants.
- Write clear, well-reasoned underwriting summaries and recommendations for approval, setting out key risks, mitigants and the rationale behind each decision.
- Conduct periodic reviews and re-underwriting of existing merchants, monitoring changes in risk profile, processing behaviour and financial standing.
- Work with Sales, Risk, Compliance and other teams to give timely, commercially aware risk decisions.
- Coach and support junior underwriters, reviewing their cases and sharing knowledge across the team.
Requirements
Essential
- Extensive experience in merchant underwriting, merchant onboarding and credit risk within payments, acquiring, a payment service provider or a related financial services environment.
- Strong knowledge of KYB/KYC, AML and CTF requirements as they apply to merchant onboarding.
- Hands-on experience with PEP, sanctions and adverse media screening tools, and with investigating and resolving potential matches.
- Experience onboarding businesses with complex ownership and organisational structures, and identifying UBOs.
- The ability to perform in-depth credit risk analysis, including interpreting financial statements and bank statements and assessing a merchant's financial strength and risk exposure.
- Sound judgement and the confidence to make and defend risk decisions while balancing commercial objectives.
- Strong attention to detail and the ability to manage several complex cases at once.
- Excellent written communication skills, with the ability to produce concise, well-structured risk summaries and recommendations.
- Fluent written and spoken English.
Desirable
- Experience with higher-risk sectors such as travel, CBD or charities.
- Knowledge of card scheme risk programmes (e. g., VAMP, MATCH, BRAM) and reserve setting.
- Familiarity with tools such as Dotfile, Hub Spot, G2, Endole.
Senior Underwriter employer: Ryft
At Ryft, we pride ourselves on being a dynamic fintech start-up that fosters a culture of innovation and collaboration. As a Fraud & Risk Manager, you'll not only lead critical fraud strategies but also have the opportunity to shape a growing team in a fast-paced environment where your contributions directly impact our success. With a commitment to employee development and a supportive work culture, Ryft offers a unique chance to thrive in the heart of the payments industry while enjoying the benefits of a flexible and engaging workplace.
StudySmarter Expert Advice🤫
We think this is how you could land Senior Underwriter
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Ryft. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Senior Underwriter
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Ryft.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Ryft's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Ryft
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Ryft.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Ryft will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Ryft employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
