Underwriting and Portfolio Analyst I

Bancorp Bank; Sioux Falls (SD); On-site; USD 55,000 - 85,000; Full time

Job summary

The Bancorp Bank is seeking an Underwriting and Portfolio Analyst I to help evaluate financial, control, and operational risk for merchant acquiring, ACH, and card issuing activities. You will support Know Your Customer processes and ensure compliance with Visa, Mastercard, NACHA rules and banking regulations.

The role includes reviewing third-party applications, performing due diligence, and compiling narrative risk assessments for approval committees.

Qualifications

• Undergraduate degree in finance, accounting, or a related field, or equivalent combination of training and experience.
• 2 years of financial statement analysis, commercial underwriting, and portfolio review experience.
• Strong understanding of Know Your Customer requirements and BSA due diligence standards.
• Knowledge of payment brand rules, including Visa, Mastercard, and NACHA.
• AML and BSA regulatory knowledge.
• Ability to read, understand, and review corporate financial statements, corporate tax returns, and business credit reports.
• Underwriting skills with the ability to compile written narratives quantifying financial statement analysis and risk attributes.
• Strong working knowledge of risk calculation methodologies.
• Excellent verbal, written, and interpersonal communication skills.
• Proven ability to work effectively in a collaborative, multi-tasking team environment.
• Proficient in Microsoft Office, including Excel, PowerPoint, Word, and Outlook.

Responsibilities

• Reviews third-party merchant card processing and ACH applications for completeness and consistency with underwriting guidelines and evaluates onboarding, sampling and, merchant application files.
• Requests supporting documentation from clients, tracking and following up on missing or incomplete items to ensure prompt client responses.
• Understands how third-party business models work for underwriting activities, participating in credit report review, financial statement analysis, and due diligence checks.
• Performs financial analysis and underwriting for covered business types and enterprise client relationships.
• Performs basic to more complex enhanced due diligence reviews on assigned clients using a risk-based approach.
• Assess risk exposures and makes informed decisions on the acceptability of companies and their business models.
• Provides recommendations to mitigate unacceptable risk exposure for new and ongoing relationships.
• Conducts research and provides advice on new customer due diligence and Know Your Customer activities.
• Performs a variety of routine to more complex activities to support the Know Your Customer program.
• Maintains awareness of rules and regulations applying to Visa and Mastercard merchant accounts, NACHA and banking regulations to ensure compliance.
• Conducts all underwriting and review activities in accordance with company policy, ACH program standards, and operating procedures.
• Compiles detailed written narratives quantifying financial and operational risk review results, with recommendations to the Director, Head of Fintech Operations, or applicable approval committee.
• Documents review findings in appropriate databases, capturing all pertinent facts and information per departmental procedures.
• Maintains highly accurate, up-to-date records, files, and timetables for future actions and follow-up activities.
• Supports assigned projects and performs other duties as needed.

Skills

KYC requirements

Financial statement analysis

Underwriting

Risk assessment

Regulatory compliance

Attention to detail

Communication skills

Travel readiness

Education

Undergraduate degree in finance or accounting

Equivalent training/experience

Tools

Microsoft Office (Excel, PowerPoint, Word, Outlook)

Excel

PowerPoint

Word

Outlook

Job description

Position Summary

We define fintech partnerships. The Bancorp does more than enable payments innovation. We work side by side with clients, combining deep expertise with a technology-forward approach to deliver creative, practical solutions. We don't settle for what's possible today. We look ahead to what's next, helping clients grow and innovate with confidence.

The Underwriting and Portfolio Analyst I role assists in evaluating financial, control, and operational risk associated with commercial entities engaged in merchant acquiring, ACH, and card issuing activities sponsored by the bank. This role supports the bank's third parties in meeting oversight requirements for payments relationships, helps identify imprudent risks and maintains a safe credit framework for the Fintech Solutions Division. The Analyst I performs a range of routine to more complex activities supporting the Know Your Customer program, with a focus on updated analysis for the periodic review of an existing client base.

Key Responsibilities

• Third-party application and underwriting review
  
  
  
  • Reviews third-party merchant card processing and ACH applications for completeness and consistency with underwriting guidelines and evaluates onboarding, sampling and, merchant application files
  
  
  • Requests supporting documentation from clients, tracking and following up on missing or incomplete items to ensure prompt client responses
  
  
  • Understands how third-party business models work for underwriting activities, participating in credit report review, financial statement analysis, and due diligence checks
  
  
  • Performs financial analysis and underwriting for covered business types and enterprise client relationships
  
  
  
  


• Risk assessment and due diligence
  
  
  
  • Performs basic to more complex enhanced due diligence reviews on assigned clients using a risk-based approach
  
  
  • Assess risk exposures and makes informed decisions on the acceptability of companies and their business models
  
  
  • Provides recommendations to mitigate unacceptable risk exposure for new and ongoing relationships
  
  
  • Conducts research and provides advice on new customer due diligence and Know Your Customer activities
  
  
  
  


• Know Your Customer program support and regulatory compliance
  
  
  
  • Performs a variety of routine to more complex activities to support the Know Your Customer program
  
  
  • Maintains awareness of rules and regulations applying to Visa and Mastercard merchant accounts, NACHARules, and banking regulations to ensure compliance
  
  
  • Conducts all underwriting and review activities in accordance with company policy, ACH program standards, and operating procedures
  
  
  
  


• Reporting and recordkeeping
  
  
  
  • Compiles detailed written narratives quantifying financial and operational risk review results, with recommendations to the Director, Head of Fintech Operations, or applicable approval committee
  
  
  • Documents review findings in appropriate databases, capturing all pertinent facts and information per departmental procedures
  
  
  • Maintains highly accurate, up-to-date records, files, and timetables for future actions and follow-up activities
  
  
  • Supports assigned projects and performs other duties as needed
  
  
  
  

Qualification Requirements

• Undergraduate degree in finance, accounting, or a related field, or equivalent combination of training and experience.


• 2 years of financial statement analysis, commercial underwriting, and portfolio review experience.


• Strong understanding of Know Your Customer requirements and BSA due diligence standards.


• Knowledge of payment brand rules, including Visa, Mastercard, and NACHA.


• AML and BSA regulatory knowledge.


• Ability to read, understand, and review corporate financial statements, corporate tax returns, and business credit reports.


• Underwriting skills with the ability to compile written narratives quantifying financial statement analysis and risk attributes.


• Strong working knowledge of risk calculation methodologies.


• Outstanding problem-solving and issue-resolution skills.


• Strong customer service focus with meticulous attention to detail.


• Capacity to manage multiple priorities in a fast-paced environment with tight deadlines.


• Excellent verbal, written, and interpersonal communication skills.


• Proven ability to work effectively in a collaborative, multi-tasking team environment.


• Proficient in Microsoft Office, including Excel, PowerPoint, Word, and Outlook.


• Demonstrates strong motivation, accountability, and resilience in pursuing goals, delivering high-quality results, and continuously improving performance.


• Demonstrates the ability and willingness to learn and use approved artificial intelligence tools to improve productivity, decision-making, and work quality, in accordance with company policies and established guidelines.

Travel Expectations

• Ability to travel up to 5% of the time

What Success Looks Like

• Third-party applications and files are reviewed accurately and within expected timeframes


• Enhanced due diligence and risk assessments consistently identify and mitigate unacceptable risk exposure


• Know Your Customer activities are completed accurately and in line with regulatory requirements


• Written narratives and recommendations support sound, well-documented approval decisions


• Records and documentation remain accurate, complete and audit-ready


• Underwriting and review activities reflect strong compliance with Visa, Mastercard, NACHA and banking regulations

Why This Role Matters The Underwriting and Portfolio Analyst I protects The Bancorp's credit framework by identifying and mitigating risk before it reaches the bank's third-party payments relationships. Sound underwriting and disciplined due diligence in this role directly support the bank's regulatory standing under BSA, AML, KYC, and payment brand rules. By producing clear, well-documented risk narratives and recommendations, this role gives approval committees the information they need to make confident decisions, helping the Fintech Solutions Division grow its third-party relationships safely and sustainably.

Additional Information

This job will be open and accepting applications for a minimum of five days from the date it was posted.

This information reflects the base salary pay range for this job based on current national market data. Ranges may vary based on the job's location. We offer competitive pay that varies based on individual experience, qualifications and other relevant factors. We encourage you to apply to positions that you are interested in and for which you believe you are qualified. To learn more, you are welcome to discuss with us as you move through the selection process.

Working at The Bancorp Bank, N.A. and Benefits Information: https://thebancorp.com/company/join-our-team/

Company Culture & Background Screening

Company Culture at The Bancorp Bank: https://www.thebancorp.com/company/company-culture/

The Bancorp Bank, N.A. is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.

Employment with The Bancorp Bank, N.A. includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.