Risk Manager (Merchant Services)

About the role

Founded in 1997, Merrick Bank is an FDIC®-insured financial institution headquartered in South Jordan, Utah, with over $10 billion in assets. A wholly owned subsidiary of CardWorks Financial Group, Merrick Bank serves roughly five million cardmembers and more than 100,000 merchant customers nationwide. What we do We provide credit cards, recreational loans, deposit accounts, merchant services and bank sponsorships to consumers and businesses. As a leader in non-prime lending and merchant acquiring, we combine innovative technology with data-driven insights to help underserved consumers build and strengthen credit while delivering integrated, scalable payment solutions for businesses. Merrick Bank ranks among the top 20 FDIC®-insured credit card issuers in the U.S. and among the top 15 merchant acquirers by transaction volume. Position Summary: The Risk Manager is responsible for oversight and monitoring of the ISO portfolios. This role is responsible for identifying, analyzing, and mitigating financial, operational, fraud, compliance, and reputational risks associated with merchant processing activity. The Risk Manager works closely with ISOs and Risk Team Management to ensure portfolio performance remains within established risk tolerances and regulatory requirements. Reports directly to the VP of Risk. Essential Functions: Monitors and manages merchant portfolios from a credit risk, fraud risk, and operational risk perspective. Oversees ISO relationships to ensure their merchant activity aligns with the Bank's underwriting policies, risk processes, and card brand compliance requirements. Conducts ongoing portfolio reviews and trend analysis focused on chargebacks, fraud activity, excessive credits, ACH returns, suspicious transaction patterns, and merchant processing anomalies. Identifies high-risk merchants and emerging portfolio concerns and recommend appropriate mitigation strategies, including reserves, processing limitations, enhanced monitoring, or account termination. Investigates suspicious merchant activity and potential fraud scenarios, including transaction laundering, factoring, card testing, identity theft, and excessive dispute activity. Serves as a primary point of contact for ISOs regarding risk escalations, portfolio concerns, reserve requirements, and merchant remediation efforts. Reviews, monitors, and approves ACH processing files submitted daily including files submitted outside normal business hours. Analyzes financial statements and assesses anticipated risk exposure. Ad hoc projects as deemed necessary by management. Compliance with Laws & Regulations: Responsible for complying with all of the Bank's internal control policies and procedures. Responsible for understanding and complying with all laws and regulations to which the Bank is subject. Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts. Education and Experience: Bachelors' degree is required, or four (4) years' experience accepted in lieu of education requirement. Three (3) years of risk related experience in the acquiring industry. Summary of Qualifications: Financial statement analysis proficiency Strong analytical skills and ability to create and implement risk mitigation strategies. Ability to analyze current risk processes and procedures and implement solutions to promote efficiencies. Knowledge of card brand compliance programs and regulations. Ability to prioritize competing priorities appropriately. Knowledge of processing platforms and tools. Strong verbal and written communication skills. Ability to work outside of normal business hours. Work Environment/Physical Demands: Light The physical requirements described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. This is largely a sedentary role; however, some filing is required. This would require the ability to lift files, open filing cabinets and bend or stand on a stool as necessary. Security Responsibilities - General: This classification requires heightened security awareness to safeguard the Bank's data, including customer non-public personal information. This security level means that the job includes exposure to all categories of Bank data, including customer non-public personal information. #INDHP1 Why join us We believe in putting people first by supporting our customers, employees and our partners while creating opportunities for everyone to reach their potential. From fostering work-life balance to rewarding good work and innovative ideas, we invest in what matters most, our people. At Merrick Bank, you'll be part of a collaborative, customer-focused team where y

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