Risk Analyst

Priority Technology Holdings, Inc. Chattanooga , TN 37402

Posted 1 month ago

Position Title: Risk Analyst

Reports To: Director of ACH Underwriting and Risk

Department: Risk

SUMMARY:

The Risk Analyst's primary functions are to assist the department with underwriting new applications and the completion of Annual Credit Reviews for existing ACH Originators, process and monitor all Request for Authorizations received from the Originating Depository Financial Institutions (ODFI), fraud monitoring and investigation, complete Month End Reporting and Over Limit Reporting. Work with Originators to understand their responsibilities within the NACHA Rules in order to maintain acceptable return rates. Review, approve and if necessary complete Customer Change Forms and continue to train on the different aspects of the Risk Department and NACHA Rules.

RESPONSIBILITIES:

  • Underwriting of new applications from Originators/Resellers, including credit and background checks, financial analysis of company and owners (if applicable), and determination of industry risks.

  • Assess Originators needs and design a flow of funds that prioritizes minimizing Priority Commercial Payments financial exposure, while also taking into account Originators needs.

  • Complete Annual Credit Reviews of existing Originators, including processing history, processing limits, company and owner (when applicable), financial information, return information, exposure and reserve coverage, authorizations for SEC Codes processed and owner credit information. Any issues causing additional exposure or high reputational risk will be immediately brought to the attention of management.

  • Receive, review, and process customer account and user changes. This requires Analyst's to gather information from the Originator/Reseller, Customer Care and Accounting. Any change creating high exposure is immediately brought to the attention of management and included in the information presented at the monthly Credit Committee Meeting.

  • Receive and process all Requests for Authorization from the ODFIs, including sending request to the Originator/Reseller with instruction to return the authorization within 8 banking days, return copy of the authorization to the Receiving Depository Financial Institution (RDFI) and the ODFI within 10 banking days of receipt. Log all results for monthly review.

  • Review over Limit Report daily to confirm processed totals and assess increasing limits. Contact Originators/Resellers to discuss possible increases (if applicable).

  • Work with Originators and Third Party Senders to help them understand their obligations, responsibilities and exposures under the NACHA rules.

  • Work with other departments and vendors to facilitate and document special projects.

  • Monitor, investigate cause of, and initiate collection of negative customer balances.

  • Complete month end reports, including Duplicate Notification of Change Report (NOC), Office of Foreign Asset Control (OFAC) Report, and Return Threshold Monitoring Report. Work with Originators to help reduce the duplicate NOCs. Discuss the responsibilities of the Originators with customers on the OFAC Report. Review authorizations and help Originators lower their unauthorized returns.

  • Monitor and investigate suspicions transactions for potentially fraudulent activity. If suspected Fraudulent activity will be brought to management's attention and mentioned in the Monthly Credit Committee meeting.

  • Work with department and management to develop policies and procedures adapting to risks associated with new product offerings and rule changes.

EDUCATION & EXPERIENCE REQUIREMENTS:

  • Associates Degree in a related business field.

  • Minimum 2 years of experience in accounting, finance or credit analysis.

  • Having 1 to 2 years of experience in banking, credit, and/or ACH processing a plus.

  • Proficient in Word and Excel

  • Ability to collect and analyze credit information

  • Creative Problem Solving Skills

  • Organization and Multi-tasking

  • Understanding of all the participants within the ACH Network

  • Project management skills

  • Seniority Level

Associate

  • Industry

  • Financial Services

  • Employment Type

Full-time

  • Job Functions

  • Finance

  • Sales

icon no score

See how you match
to the job

Find your dream job anywhere
with the LiveCareer app.
Mobile App Icon
Download the
LiveCareer app and find
your dream job anywhere
App Store Icon Google Play Icon
lc_ad

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Application Support Analyst

Covenant Logistics Group

Posted Yesterday

VIEW JOBS 10/25/2021 12:00:00 AM 2022-01-23T00:00 <p>Provide technical expertise in identifying, evaluating and developing practices and procedures for software applications that are cost effective and meet business requirements. Analyze complex business requirements and business problems for product support. Support functional modifications/ updates/test cases for development and quality assurance teams from a functional perspective. Manage 3rd party vendors through a cadence of scorecard reviews and QBR’s ensuring that quality and expectations are met. </p><ul> <li>Establishing the root causes of application errors and escalating serious concerns to Supply Chain Leadership.</li> <li>Continuously collaborating withing the Supply Chain team, as well as across broader operational teams, to effectively service internal / external customers with the goal of delivering all freight on time with minimal delays or services failures. </li> <li>Monitoring and resolving transportation related EDI data discrepancies and errors to ensure accurate and timely information; communicating discrepancies to appropriate parties to ensure proactive and additional planning can occur where required / able</li> </ul> <ul> <li>Reviewing daily status reports; ensuring on time performance &amp; facilitating communication between internal and external partners as needed</li> <li>Ensure timely communication of system disruptions to the appropriate internal parties; proactively providing solutions in order to mitigate delays and risk as needed. Identify the root cause and the changes that will prevent the incident from occurring again.</li> <li>Leveraging data and analytics to identify opportunities that improve and reduce overall costs while improving service; striving for good, better, best always</li> <li>Assisting the Supply Chain Leadership team in determining needs (both immediate and longer term) in order to best support internal/external customers and the needs of the business</li> <li>Additional responsibilities and projects as assigned</li> </ul> <ul> <li>Monitor change requests and tickets for 3rd party vendors. Establish SLA’s for collaborative review and accountability. </li> </ul> <ul> <li>Developing and implementing new operational processes/enhancements that facilitate greater efficiencies within the department and supply chain; specifically fostering enhancements to cost, speed and service for our internal/external customers.</li> </ul><p><strong>Requirements</strong></p><ul> <li>Subject-matter expert in transportation, risk identification, and implementation strategies preferred but not required.</li> <li>Proficient in requirements gathering, diagramming &amp; documentation, software/technology evaluation and selection.</li> <li>Excellent communication skills, including meeting facilitation &amp; team leadership. </li> <li>Strong persuasive skills with the ability to manage user expectations.</li> </ul> <ul> <li>Bachelor’s degree in Computer Science, Information Systems or a combination of college and relevant work experience. </li> <li>Strong analytical, problem-solving and operational planning skills; ability to identify trends within large data sets and make recommendations based on data analysis</li> <li>Excellent verbal and written communication skills; demonstrated ability to explain logistical processes and problems to non-practitioners and arrive at workable solutions</li> <li>High degree of proficiency using MS Office Suite and Internet applications</li> <li>Demonstrated collaborative skills and ability to work well within and across teams</li> <li>Self-motivated and driven; ability to keep pace a fast and deadline-oriented industry/working environment</li> <li>Prior experience using TMS, ELD, eDVIR, routing software and SSMS a plus. </li> </ul><p><strong>Benefits</strong></p><p>Competitive Compensation</p><ul><li>401(k) match, Serious Health Condition Pay</li></ul><p>Full Health Benefits Package</p><ul><li>Medical, Dental, Vision, Telemedicine, Short &amp; Long Term Disability, Health Savings Account, Life Insurance</li></ul><p>Paid Time Off</p><ul><li>Holidays, Birthday, Wellness Day, Vacation &amp; Sick Time</li></ul><p>Cultural Perks</p><ul><li>Casual Dress, Tuition Reimbursement, Employee Discount Program, Dependent Care Flexible Spending Account, Adoption Assistance and Employee Assistance Program</li></ul><p>Covenant Logistics is an Equal Opportunity Employer<br>M/F/Disability/Veteran<br></p><p>VEVRAA Federal Contractor</p> Covenant Logistics Group Chattanooga TN

Risk Analyst

Priority Technology Holdings, Inc.