Underwriting Specialist – Payments Team

Maxio LLC; Georgia (VT); Remote; USD 70,000 - 90,000; Full time

Job summary

Maxio LLC is seeking a detail-oriented Underwriting Specialist to support new and existing merchant accounts in the Payments Team. The role involves evaluating merchant eligibility for payment processing with a strong emphasis on B2B SaaS companies. Ideal candidates will possess relevant underwriting experience and analytical skills in financial risk assessment. This remote position offers competitive benefits and a dynamic work environment.

Benefits

Health, dental, and vision insurance plans.

Paid monthly mental healthcare access.

Open PTO and 13 paid holidays.

401(k) savings plan with company match.

MacBook laptop.

Paid parental leave.

Qualifications

• 2–4 years of underwriting experience in payments or financial services preferred.
• Strong knowledge of KYB/KYC practices required.
• Understanding of Card Brand rules and regulator requirements.

Responsibilities

• Review new B2B SaaS merchant applications for risk indicators.
• Perform KYB/KYC reviews for compliance.
• Analyze business models and billing practices.

Skills

Attention to detail

Communication

Analytical skills

Risk assessment

Education

Bachelor's degree in related field

Tools

Microsoft Excel

Google Sheets

Salesforce

Job description

Location: Remote (U.S.-based)
Department: Risk & Underwriting

Maxio is a PE-backed software business that helps B2B SaaS companies unlock their next stage of growth. We are committed to redefining how CFOs and CEOs run their businesses, raise money, and manage investors.

Our billing & financial operations platform is designed to meet the unique challenges of B2B SaaS companies, including complex billing, subscription management, revenue, and expense recognition. The platform also provides investor-grade SaaS operating metrics and analytics that help executives run their companies more effectively & raise money more efficiently.

Today, Maxio serves over 2,000 customers and processes more than $17B in revenue for those customers.

Maxio is seeking a detail-oriented and analytical Underwriting Specialist to join our Payments Team. This role is essential in evaluating new and existing merchant accounts for eligibility to use Maxio’s payment processing services, with a strong emphasis on supporting our B2B SaaS merchant base. The ideal candidate will have experience assessing financial and operational risk in recurring billing environments and an understanding of the nuances that come with evaluating software-based business models.

About the Position:

Reporting to the Senior Risk Manager, the Underwriting Specialist is responsible for conducting thorough reviews of merchant applications by assessing business model legitimacy, credit risk, and compliance with sponsor bank and card brand guidelines.
You will play a critical role in ensuring that approved merchants align with Maxio’s risk tolerance while enabling the fast-paced growth typical of SaaS platforms.
This position works closely with Risk, Payments, Sales, and Support teams to deliver a streamlined, compliant onboarding experience.

Key Responsibilities:

• Review new B2B SaaS merchant applications for completeness, risk indicators, and eligibility, considering subscription billing models and long-tail customer bases.
  
• Perform KYB/KYC reviews to validate business legitimacy and ownership structure, ensuring compliance with internal and sponsor bank requirements.
  
• Analyze processing projections, customer acquisition practices, contract structures, billing frequencies, and refund policies to evaluate account risk.
  
• Identify high-risk verticals or atypical SaaS activity and flag for management input.
  
• Document clear case rationale, approval conditions, and adverse action decisions in internal systems.
  
• Recommend risk mitigation strategies such as rolling reserves, processing limits, or delayed payouts for accounts with elevated exposure.
  
• Collaborate with the Risk Monitoring team to re-review accounts that present credit, fraud, or compliance risk post-boarding.
  
• Serve as a subject matter expert on SaaS risk profiles and support internal education on underwriting nuances specific to recurring revenue models.
  
• Monitor onboarding trends and contribute to enhancements in underwriting workflows and automation.
  
• Provide underwriting support for existing SaaS merchants looking to scale their volume, expand internationally, or add new payment methods.

Qualifications:

• 2–4 years of underwriting experience in the payments or financial services industry; experience underwriting SaaS or subscription-based businesses strongly preferred.
  
• Strong working knowledge of KYB/KYC practices, prohibited business screening, and merchant risk assessment.
  
• Familiarity with Card Brand rules, NACHA regulations, and sponsor bank underwriting requirements.
  
• Ability to assess creditworthiness and fraud exposure for businesses with limited financial history but recurring revenue models.
  
• Proficiency in Microsoft Excel and Google Sheets; experience with Salesforce and underwriting assessment tools preferred.
  
• Strong written and verbal communication skills; comfortable interfacing with cross-functional teams and occasionally merchants.
  
• High attention to detail with a strong sense of judgment and accountability.
  
• Bachelor's degree in related field preferred, or equivalent experience.

Maxio Benefits & Perks

• Health, dental, and vision insurance plans.
• Medical and dependent care flexible spending accounts.
• Paid monthly mental healthcare access with Headspace.
• Open PTO – because making time for life is important!
• 13 paid standard holidays each year, including a company-wide Winter Break.
• 401(k) savings plan with company match!
• MacBook laptop.
• Paid parental leave.
• A collaborative, entrepreneurial learning environment with a proven playbook.

Maxio is committed to providing all team members a truly unique experience with opportunities for professional development and involvement in multiple dimensions of running and growing our business.

Our commitment to Diversity, Equity, and Inclusion: we are committed to an environment that promotes equality, diversity, and inclusion. It's important to us that you bring your true self to work every day, no matter your age, ethnicity, religion, citizenship, gender identity, sexual orientation, disability status, neurodiversity, or otherwise