Merchant Specialist II

WEX; United States; Remote; USD 56,000 - 67,000; Full time

Benefits offered by this job

Health insurance

Dental insurance

Vision insurance

Retirement savings plan

Paid time off

Health Savings Account

Flexible spending accounts

Life insurance

Disability insurance

Tuition reimbursement

Job summary

WEX is seeking a Merchant Risk Operations professional to set up newly contracted merchants and manage ongoing configurations across multiple financial terms and locations. You will balance risk with a positive merchant experience while driving process improvements and leveraging automation to scale operations.

Responsibilities include data entry of contract terms, issue investigation, reporting, and cross-functional collaboration to ensure timely and accurate settlement and compliance with

Qualifications

• Bachelor’s degree and/or 2-4 years of experience in a comparable operations role.
• Strong verbal and written communication skills.
• Results driven, action oriented and self-motivated.
• Ability to collaborate cross-functionally with multiple teams.
• Intermediate knowledge of PC-based application software with emphasis on spreadsheets and data management.

Responsibilities

• Data entry and configuration of merchant financial contract terms (interchange rate, payment terms, depository bank information, fees).
• Responding to requests from stakeholders with appropriate urgency.
• Manage maintenance or other requests including adjustments and setups within deadlines with minimal errors.
• Identify opportunities for efficiency and process improvement while executing stakeholder support tasks.
• Ensure best practices for Bank/TIN changes and meet service level objectives.
• Investigation and resolution of issues across technical, servicing, electronic files, network, settlement, site, reporting, and billing.
• Build and sustain client relationships and advocate for merchant needs.
• Oversee auditing, compliance with internal controls, and error reduction.
• Produce and validate reporting, including volume and performance tracking.

Skills

Verbal communication

Written communication

Attention to detail

Analytical thinking

Cross-functional collaboration

Education

Bachelor’s degree

Tools

Excel

Job description

About the Team/Role

The Merchant Risk team plays a critical role in the setup and administration of merchants within our proprietary closed loop acceptance circle. This includes the configuration of financial contract terms such as interchange rate, payment terms, depository bank information, and fees which are directly related to approximately $60B in annual settlement payments to the merchants and collection of approximately $1B in processing fees or WEX revenue. There is moderate supervisory oversight in this role with more potential for financial impact on the $60B in settlement and $1B in revenue through audits and execution of financial controls within the department. This role is expected to drive operational excellence by identifying opportunities to streamline processes, leveraging automation and AI tools where appropriate, and fostering a team environment that is adaptable to change and embraces new ways of working. The primary function of this position is to set up newly contracted merchants and their corresponding locations and administer existing merchants, inclusive of market or contract term changes. The role operates within multiple technical applications. This role must balance management of financial risk associated with merchant settlement and interchange revenue recognition with a positive merchant experience. The role has several key responsibilities including but not limited to: ensure operational timeliness and accuracy through robust audits, lead issueinvestigation and resolution.

How you'll make an impac t

• Proactively identify and embrace opportunities to integrate AI and automation technologies into operational processes. This includes initiatives to drive scale, reduce reliance on manual processes, and mitigate operational risks.

OPERATIONAL TIMELINESS AND ACCURACY:

• Data entry and configuration of merchant financial contract terms such as interchange rate, payment terms, depository bank information, and fees
• Responding to requests from or on behalf of stakeholders with appropriate urgency
• Management of maintenance or other requests including adjustments, setups, etc. within deadlines and with minimal errors or follow-up issues;
• Seeking and implementing opportunities for efficiency and process improvement in the course of executing stakeholder support tasks and requests
• Ensuring best practices are followed for Bank/TIN changes while meeting service level objectives

ISSUE INVESTIGATION + RESOLUTION

• Issue investigation and resolution, including but not limited technical, servicing, electronic files, network, settlement, site, reporting and billing.
• Success is measured by resolution time and merchant satisfaction.

MAXIMIZE RELATIONSHIPS:

• Manage relationships by building and sustaining client satisfaction with stakeholders .
• Advocating for merchant needs, while ensuring best practices are followed.
• Acting as the main point of contact for day to day operations, and coordinating communication between the stakeholder and all functional areas within WEX.

AUDITING:

• Ensures compliance with established internal controls
• Mitigating levels of financial risk as it relates to contractual compliance
• Identification of process improvement opportunities
• Ensuring procedures, policies, and contracts are correctly followed and complied with

REPORTING

• Management of reporting, inclusive of audit and other auxiliary reporting such as volume and performance tracking reports; facilitating creation of customized reporting to support special circumstances.
• Must be comfortable in providing various reporting needs as required internally utilizing MS Word, Excel, and PowerPoint.
• Ensure full comprehension and accuracy of all reporting before sharing with stakeholders

PROCESS OWNERSHIP

• Manage and successfully execute against projects specific to Merchant Risk.
• Demonstrate broader responsibility to administrate beyond assigned duties
• Play an active role in responding to change and growth helping to evolve the operation. This may be done by identifying outdated processes or inefficiencies in existing processes and taking ownership of driving improvement, finding ways to eliminate wasteful processes that are a barrier to scale objectives, making recommendations for technical development to better equip and position partner operations to support growth strategies, and taking on stretch project assignments.

Experience you'll bring

• Bachelor’s degree and/or minimum of 2-4 years of experience in a comparable operations role.
• Effective verbal and written communication skills
• Results driven, action orientated and self-motivated
• Flexible/Adaptable to change
• Ability to collaborate cross-functionally; interpersonal and customer service skills with the ability to ascertain information and maintain dialogue with multiple teams.
• Intermediate knowledge of PC based application software with an emphasis on spreadsheets and data management skills.
• Strong attention to detail with some experience conducting quality audits.
• Proven experience in managing high-volume financial transactions and ensuring compliance with relevant regulations and standards.
• Ability to interpret contract language and operational financial terms
• Strong accounting, analytical, and problem solving skills.
• Excellent time management, prioritization skills, goals setting, planning and work scheduling skills.
• Detail oriented.
• Professional in nature and work well under pressure, tight timelines.
• Must successfully pass a background investigation.

Preferred Qualifications

• Ability to effectively and calmly operate within a complex and changing environment.
• Ability to identify opportunities to improve performance and efficiencies within department and self
• Excellent interpersonal skills and flexibility
• Strong service orientation
• AI – Gemini, ChatGPT or similar

The base pay range represents the anticipated low and high end of the pay range for this position. Actual pay rates will vary and will be based on various factors, such as your qualifications, skills, competencies, and proficiency for the role. Base pay is one component of WEX's total compensation package. Most sales positions are eligible for commission under the terms of an applicable plan. Non-sales roles are typically eligible for a quarterly or annual bonus based on their role and applicable plan. WEX's comprehensive and market competitive benefits are designed to support your personal and professional well-being. Benefits include health, dental and vision insurances, retirement savings plan, paid time off, health savings account, flexible spending accounts, life insurance, disability insurance, tuition reimbursement, and more. For more information, check out the "About Us" section.

Pay Range: $55,500.00 - $66,600.00