Risk and Underwriting Supervisor

The Risk and Underwriting Supervisor is responsible for leading and managing the team within the Risk Management Department. This role oversees the day-to-day operations to ensure that all merchant applications and accounts are reviewed, assessed, and managed in accordance with the company’s Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) standards, as well as applicable regulatory requirements.

In addition, the supervisor is accountable for conducting and guiding risk profiling activities, overseeing transaction monitoring, and ensuring the timely handling of chargeback processes. The position requires balancing regulatory compliance, fraud prevention, and business enablement while maintaining strong working relationships with internal teams, acquiring banks, and merchants (end to end risk mitigation of Veritas Pay).

Job responsibilities

Risk and Underwriting

1. Supervise and approve Level 1 assessments, ensuring compliance with the company’s KYC and KYB standards.

2. Ensure that all underwriting and risk decisions are aligned with company policies, acquiring bank requirements, and applicable regulatory frameworks.

3. Regularly update the team and ensure all members are fully aware of company policies, procedures, and compliance standards.

4. Conduct and oversee risk profiling for new and existing merchants, identifying potential risks based on industry, geography, and transaction behavior.

5. Monitor and manage high-risk merchants, implementing appropriate controls such as rolling reserves or account holds when necessary.

6. Perform high-level reviews and provide guidance in cases involving complex issues or escalations.

7. Serve as the Level 2 checker / approver for all accounts to be onboarded into the company.

8. Coordination with the bank about the approval of the merchant.

Transaction Monitoring

1. Oversee daily transaction monitoring to identify unusual patterns, anomalies, and red-flag activities in line with established parameters.

2. Manage the preparation and submission of daily transaction monitoring reports. Ensure that reports will be completed within the day.

3. Review flagged transactions from the fraud monitoring tool and ensure appropriate action is taken.

4. Lead the enhancement of fraud monitoring parameters, including the review and implementation of system rules, thresholds, and alerts to strengthen detection capabilities.

5. Coordinate investigations of suspicious transactions in close collaboration with merchants, acquiring banks, and the Compliance team.

6. Ensure timely escalation of confirmed or high-risk fraud cases to acquiring banks, regulators, or law enforcement agencies as required.

Dispute and Chargeback Handling

1. Supervise the chargeback management process, ensuring timely responses to acquiring banks and card schemes.

2. Review dispute cases for completeness, accuracy, and proper documentation before submission.

3. Track chargeback and dispute ratios, ensuring they remain within acceptable thresholds and ensure that the risk profile will be updated.

4. Recommend corrective measures for merchants with recurring disputes or excessive chargebacks.

Team Leadership & Development

1. Lead, mentor, and coach the risk and underwriting team to achieve departmental objectives and performance targets.

2. Assign tasks, monitor progress, and provide constructive feedback to ensure accuracy, efficiency, and adherence to standards.

3. Conduct regular training and knowledge-sharing sessions on underwriting practices, emerging fraud trends, and regulatory / compliance updates.

4. Foster a culture of accountability, collaboration, and continuous improvement within the team.

Compliance & Reporting

1. Prepare and submit regular reports on risk exposures, fraud trends, chargeback volumes, and underwriting activities.

2. Support regulatory audits and respond to requests for information regarding risk and underwriting activities.

Qualifications

• Bachelor’s degree in finance, Business, Accounting, or a related field
• 3–5 years of experience in risk management, underwriting, or fraud prevention (preferably within fintech, banking, or payments)
• Demonstrated leadership and supervisory experience
• In-depth understanding of CDD, EDD, AML, and regulatory compliance requirements
• Proficiency in risk assessment, fraud monitoring platforms, and transaction monitoring systems
• Strong analytical, decision-making, and problem-solving abilities
• Excellent communication skills with the ability to manage and influence stakeholders effectively