Risk Underwriter

XOALA; Stockholms kommun; Hybrid; SEK 600,000 - 900,000; Full time

Benefits offered by this job

Hybrid work model

Healthcare/Wellness allowance

Birthday day off

Dynamic career growth

Job summary

XOALA, a global Neobank-EMI with offices across Sweden, is seeking an experienced Risk Underwriter to gatekeep merchant onboarding and risk assessment. You will assess merchant applications for suitability and risk, ensuring compliance with KYC, card schemes, and anti-fraud controls.

You will analyze financial statements, review merchant bank statements, and provide detailed underwriting reports to support management decisions. Hybrid work options are available.

Qualifications

• 3–5 years hands-on underwriting experience in FinTech/payments.
• Knowledge of KYC, Card Schemes rules, Beneficial Ownership and CDD.
• Ability to read and evaluate complex financial statements.
• Strong English business fluency and attention to detail.

Responsibilities

• Review new merchant applications promptly.
• Manage underwriting pipelines and assigned accounts.
• Coordinate with internal and external sales agents and merchants to resolve items.
• Apply KYC requirements, Card Schemes rules, FINCEN Beneficial Ownership guidance and CDD.
• Analyze consumer credit reports and Mastercard MATCH and Visa VMASS systems.
• Read and evaluate complex Financial Statements and merchant processing statements.
• Identify fraud and chargeback exposure using underwriting tools.
• Provide underwriting reports and KPIs for management.
• Assist in training and maintaining underwriting policies and procedures.
• Monitor fraud trends and partner with Risk to prevent post-approval issues.

Skills

Underwriting

KYC knowledge

Credit risk analysis

Fraud detection

Education

Bachelor's degree in Finance

Tools

Mastercard MATCH

Visa VMASS

Job description

XOALA is a Global and multi-regulated Neobank-EMI and leader in Payment Solutions with offices across Cyprus, UK, Sweden, India, and Dubai. It provides its customers multi-currency payment accounts, cards and acquiring products in an all-in-one platform that allows you to handle international transactions, manage accounts in multiple currencies, and process payments securely- no matter where in the world you do business!

JOB OVERVIEW

Our team is growing and we are looking to hire an experienced Risk Underwriter! The scope of the role is to serve as a primary gatekeeper for merchant onboarding and risk assessment. This role is responsible for analyzing acquiring and card merchant applications and assessing if applications meet the company’s risk policy requirements to mitigate exposure to application fraud and high-risk processing.

JOB DESCRIPTION

• Review new merchant applications in a timely and efficient manner.
• Manage pending lists and process multiple accounts assigned to you in the Underwriting pipeline.
• Interact with both internal and external sales agents and merchants to resolve pending items required for merchant applications.
• Demonstrate a strong understanding of KYC (Know Your Customer) requirements, Card Schemes rules, FinCEN ruling on Beneficial Ownership and CDD (Customer Due Diligence).
• Understand and analyze Consumer Credit Reports and Mastercard (MATCH) and Visa (VMASS) card systems.
• Read and evaluate complex Financial Statements.
• Review and analyze business bank statements and merchant processing statements, identifying chargeback and refund exposure.
• Identify fraudulent merchant application submissions through thorough analysis and use of internal and external underwriting tools.
• Provide underwriting reports and KPIs for management.
• Assist in cross-departmental training and new hires with underwriting best practices and sound credit risk principles.
• Follow and assists in maintaining Underwriting departmental policies and procedures.
• Stay current with all new and emerging fraud and risk trends within the industry.
• Partner with the Risk department to detect and prevent fraudulent activity post approval.
• Communicate findings and translate analytical results into meaningful business recommendations to senior Management team.

PERSON SPECIFICATION

• At least 3-5 years of experience hands-on relevant experience as an Underwriter within the FinTech/Payments industry.
• Knowledge of various business models and associated risks, including high risk and card- not-present merchants.
• Ability to read and evaluate complex Financial Statements.
• Strong understanding of KYC requirements within the industry.
• Business fluency in English language.
• High attention to detail.
• Strong communication skills, both in written and verbal form.
• Business acumen and strong Problem-Solving abilities.
• A bachelor's degree in Finance, Business Administration and/or any other related field.

WHAT WE OFFER

• Competitive Remuneration Package, including discretionary annual performance-based bonuses
• Work-Life Balance; flexible working hours and hybrid model (2-3 days remote work)
• Healthcare/Wellness allowance fee
• Birthday day off
• Dynamic career growth in an innovative and fast-growing Global company