Credit Risk Manager, Merchant Acquiring Sponsorship

Join a Challenger
Being a traditional bank just isn’t our thing. We are big believers in innovating the banking experience because we believe Canadians deserve better options, and we challenge ourselves and our teams to creatively transform what’s possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways of doing things. If you’re not afraid of taking on big challenges and redefining the future, you belong with us. You’ll get to work with people who will encourage you to reach new heights. We like to keep things fun, ask questions and learn together.
We are a big (and growing!) family. Overall we serve more than 370,000 people across Canada through Equitable Bank, Canada's Challenger Bank™, and have been around for more than 50 years. Equitable Bank's wholly-owned subsidiary, Concentra Bank, supports credit unions across Canada that serve more than 5 million members. Together we have over $100 billion in combined assets under management and administration, with a clear mandate to drive change in Canadian banking to enrich people's lives. Our EQ Bank platform ( eqbank.ca ) has been named the top Schedule I Bank in Canada on the Forbes World's Best Banks 2023, 2022, and 2021 lists.
Purpose of Job
The Credit Risk Manager, Merchant Acquiring Sponsorship, is responsible for managing the risk associated with merchant accounts by developing, executing and monitoring merchant underwriting policies and merchant underwriting quality. This role will conduct thorough assessments of merchant applications and monitor existing merchant accounts. On a daily basis, this role will be required to assess the risk of the merchant’s business, review financial documents, and analyze the merchant’s transaction history. They will work closely with the payment facilitators and internal risk and compliance stakeholders to ensure that merchants meet credit risk, regulatory and compliance requirements and company policies.
The Work

• Analyze merchant trends and data to identify potential fraud or risk issues and engage Fraud, AML and Compliance team in assessment and decisioning
• Assist Payments team in preparing executive communication on portfolio performance dashboard and decisioning
• Assist the team in development of strategy and roadmaps for Payments products for the digital bank
• Investigate alleged suspicious transaction and/or fraudulent activity
• Support in the development of successful market launch of new line of payments business
• Collaborate with cross-functional stakeholders within the digital bank as part of product execution (i.e. Product, Technology, Operations, Finance, etc.)
• Monitor fraud and chargeback rates and work with partners on the remediation plan when the account breaches required thresholds
• Perform periodic reviews of auto adjudicated applications.
• Adjudicate merchant applications to evaluate completeness, accuracy, and risk based on underwriting policies and guidelines.
• Stay up-to-date on industry regulations and trends related to merchant underwriting
• Act as a subject matter expert for internal and external stakeholders on merchant underwriting policies and procedures
• Prepare portfolio performance dashboard, coordinate periodic merchant Key Performance Indices (KPIs) reviews and ensure KPIs are aligned with the bank policies
• Assist fraud and compliance teams to develop and refine applicable policies, procedures and practices
• Manage relationships with external partners as well as payment networks
• Establish and implement policies to govern the underwriting, risk monitoring, and control of merchants

Let's Talk About You!

• Proficient in using MS Office (Excel, Access, PowerPoint).
• Familiarity with risk and exposure in the credit card processing industry
• Knowledge of payment card industry (PCI) standards and underwriting requirements
• Awareness of key trends in payments & financial services, particularly related to digital banking & fintech landscape.
• Experience with Card Associations and their policies and procedures
• Strong business acumen and passion for understanding and solving problems for consumers of financial services using rigorous data-driven methods and advanced analytical approaches
• Ability to analyze financial documents, such as bank statements and tax returns
• Strong analytical and problem-solving skills
• Bachelor degree in Business Administration, Finance or related field
• 8+ years of work experience, in Merchant Underwriting or a related field
• Experience, confidence, and maturity managing internal and external stakeholders
• Excellent communication and interpersonal skills.
• Strong attention to detail and time management skills
• Ability to work independently and make decisions in a fast-paced environment.

What we offer [For full-time permanent roles]
💰 Competitive discretionary bonus
✨ Market leading RRSP match program
🩺 Medical, dental, vision, life, and disability benefits
📝 Employee Share Purchase Plan
👶🏽 Maternity/Parental top-up while you care for your little one
🏝 Generous vacation policy, personal days and even a moving day
🖥 Virtual events to connect with your fellow colleagues
🎓 Annual professional development allowance and a comprehensive Career Development program
💛 A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
The incumbent will be working hybrid and in office time will be spent working from Equitable Bank’s additional office space located at 351 King Street East, Toronto, ON.
Equitable Bank is deeply committed to inclusion. Our organization is stronger and our employees thrive when we honour and celebrate everyone’s diverse experiences and perspectives. In tandem with that commitment, we support and encourage our staff to grow not just in their career path, but personally as well.
We commit to providing a barrier-free recruitment process and work environment for all applicants. Please let us know of any accommodations needed so that you can bring your best self to the application process and beyond. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.
We can’t wait to get to know you!