Position Title: Risk Analyst
Reports To: Director of ACH Underwriting and Risk
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.
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
Priority Technology Holdings, Inc.