Senior Underwriter

Company Description

Luqra is a financial technology company based in Newport Beach, CA, that specializes in providing seamless payment solutions for growing businesses. We focus on creating innovative and secure payment products that help businesses thrive and succeed in the digital economy.

Role Description

This is a full-time senior underwriter role at Luqra. As a Senior Underwriter, you will be responsible for the underwriting of new business merchant account applications by accurately reviewing the application details and due diligence documentation. The Senior Underwriter will render decisions within their authority limits for credit approval. The Senior Underwriter must have a thorough understanding of policies and procedures within the Underwriting Department. The Senior Underwriter must also be well versed in card brand policies and best practices The Senior Underwriter will be responsible for showing leadership and guidance to Underwriter I and Underwriter II. This is a hybrid role, based in Newport Beach, CA, with flexibility for some remote work.

Duties/Responsibilities:

• Have a clear understanding of the Underwriting policies both internally and as provided by the Sponsoring banks.
• Gather due diligence data from various locations, including but not limited to, third party vendor websites, the Internet, client obtained data, etc. to make approval/denial decisions within guidelines.
• Ensure compliance with governmental, bank, credit card and other payment companies or associations rules.
• Follow established policies, evaluate the risk potential of merchant by fully understanding the merchant’s financial resources, sources(s) of income, credit file, and expense liabilities.
• Act as an escalation point for less experienced Underwriters; able to coach and on complex accounts.
• Handle Pre-vets.
• Re-Evaluate Decline decisions.
• Conduct telephone interviews with merchants or Agents when required in accordance with underwriting guidelines.
• Update Management on issues of concern that may cause a significant financial or service impact on the department and/or company.
• Act as an escalation point for less experienced Underwriters; able to coach and on complex accounts.
• Assist with projects and training, and implementation.
• Participate in Quality Assurance Reviews, Audits, etc.
• Attend training sessions as needed/required.
• Perform any other duties as assigned.

Required Skills/Abilities:

• Must have P&L statement, balance sheet and other financial documentation knowledge or proven ability to learn quickly.
• Manage time efficiently; meet personal and departmental goals and work effectively within the team.
• Have a methodical approach with attention to detail.
• Able to maintain composure during high volume, high stress situations whether working individually or within a team.
• Receptive to coaching/counseling and provide feedback with a positive attitude.
• Ability to critically think, using logic and reasoning to identify strengths and weaknesses of alternate solutions or approaches to processing/approving the application.
• Must be able to work with high level of autonomy and perform independent judgment decisions.

Education and Experience:

• Associates Degree or higher from an accredited college with emphasis in business & finance; or relevant experience in a related banking field, Merchant Processing or a combination of work experience and education.
• 2 years of directly related credit underwriting experience, payment processing of financial services industry experience is a preferred.