Stratostaff is a workforce solutions provider that designs and manages staffing complements for various industries. We are currently seeking an Officer, Merchant Underwriter to manage the evaluation and onboarding of merchant accounts, ensuring they meet financial viability and regulatory standards.
Role Overview
The Merchant Underwriter is responsible for conducting risk assessments of merchant applications, evaluating financial records, and ensuring compliance with anti-money laundering (AML) and fraud prevention standards. The role involves making informed decisions on account approvals, transaction limits, and settlement cycles while maintaining an audit trail for all underwriting activities.
Key Responsibilities
Merchant Risk Assessment & Onboarding
Perform thorough KYC/KYB checks, verifying CR12, KRA PIN, and Director IDs.
Analyze bank records and financial statements to assess the financial health of prospective merchants.
Conduct digital audits or on-site visits for high-risk accounts or those with significant chargeback history.
Assign appropriate Merchant Category Codes (MCC) based on business risk profiles.
Collaborate with Risk and Compliance departments to clear fraud and AML checks.
Decision Making & Risk Mitigation
Approve or decline merchant applications or recommend conditional approvals based on risk analysis.
Define transaction limits, rolling reserves, and settlement cycles for approved merchants.
Partner with Sales teams to negotiate risk terms without compromising security protocols.
Compliance & Regulatory Oversight
Screen all applicants against international and local sanctions lists (FRC, OFAC, UN, MATCH / VMSS).
Verify merchant compliance with PCI DSS data security standards.
Ensure comprehensive audit trails are maintained for every underwriting decision.
Portfolio Monitoring & Reporting
Monitor merchant activity for transaction laundering or suspicious volume spikes.
Investigate accounts with high chargeback ratios and initiate terminations where necessary.
Escalate risk trends to Card Operations and Merchant Sales management.
Identify dormant terminals and recommend corrective actions to sales and analysis teams.
Qualifications and Experience
A Bachelor’s degree in Finance, Economics, Business, Law, or a related field.
At least 2-3 years of experience in risk management or merchant underwriting.
In-depth knowledge of Kenyan regulatory frameworks, including POCAMLA and CBK Guidelines.
Skills and Competencies
Excellent analytical and investigative capabilities.
High precision and attention to detail.
Familiarity with risk-scoring models and data analysis tools.
Ability to work independently under tight deadlines.
Strong interpersonal and communication skills.
How to Apply
Interested and qualified candidates should apply online via the Stratostaff recruitment portal. Please follow the link below to submit your application:
https://www.myjobmag.co.ke/apply-now/1209338
How to Apply
To apply for this position, visit the following application link: https://www.myjobmag.co.ke/apply-now/1209338. This will redirect you to the Stratostaff portal at jobs.stratostaff.co.ke. Ensure you have your CV and academic documents ready for upload.
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