Sr. Director, Risk and Underwriting
Remote · United States
Posted on Thursday, November 2, 2023
About Versapay 🚀
Versapay is the leader in Collaborative Accounts Receivable. The Versapay Collaborative AR Network is the first solution that empowers the genius of teams by bridging the gap between suppliers and buyers through a shared, digital experience. Versapay’s accounts receivable (AR) automation solutions and next-generation B2B payments network make billing and payments easier for enterprises, increasing efficiencies, accelerating cash flow, and dramatically improving the customer experience.
Founded in 2006, the company has grown into a global network of 9,000+ clients and 1,000,000+ users handling 40+ million new invoices and driving $60+ billion in global payment volume annually.
Versapay goes beyond traditional AR automation to deliver customer-driven experiences. The results? Versapay’s clients benefit from improved payment times and stronger customer relationships with an over 80% portal adoption rate.
Owned by Great Hill Partners, Versapay is based in Toronto with offices in Atlanta and Miami.
Think you might be the next Veep to join? Read on!!
⭐️ We obsess over our customers.
⭐️ We help each other.
⭐️ We embrace diversity.
⭐️ We find better ways.
⭐️ We get things done.
⭐️ We own it.
HOW YOU’LL MAKE A HUGE IMPACT HERE – AND ON YOUR CAREER:
As the Sr. Director of Risk, you will be responsible for the operational activities for Credit, Risk, Underwriting, and AML functions within Versapay. You will be required to lead and develop a strong knowledge of both front and back-office processes, systems, and teams to help execute day-to-day operations.
Reporting to the Head of Payments Optimization and Operations, you will lead the team responsible for identifying, reporting, troubleshooting, and resolving daily production Underwriting and Risk cues. Additionally, you will conduct performance management via the development and refinement of KPIs across the Risk ecosystem. This is an excellent opportunity for someone who possesses exceptional verbal and written communication skills, as you will need to clearly and accurately communicate to all business functions and levels of management.
What you'll do:
- Executive-level strategic thinking to develop and operationalize new and existing risk frameworks covering credit underwriting, fraud, transaction monitoring, AML, etc.
- Build and lead best-in-class risk function, leveraging technology, automation, and modern practices to deliver a strong and balanced risk management function and culture that demonstrates rigorous credit analysis in the underwriting and portfolio management processes.
- Manage a team completing highly complex research (qualitative and quantitative), credit, financial and operational analysis, and monitoring of performance data to assess and manage potential risk factors.
- Collaborate with sales and marketing teams to develop payment solutions that align with risk appetite and business objectives.
- Build strong, long-lasting partnerships with a solution-oriented approach to deliver exceptional customer service.
- Partner with commercial organizations on any prospective merchant discussions and ensure all internal stakeholders (Finance, Commercial, Operations, Technology, Executive Management) are apprised of statuses, issues, and risks.
- Work with legal and compliance teams to address any compliance-related issues or concerns while supporting governance routines accordingly.
- Identify, create, and refine necessary KPIs to define success and track progress, developing a strong set of outcome-based metrics.
What you'll need:
- 10+ years of experience with in-depth knowledge of risk management and underwriting demonstrating an ability to deploy best-in-class credit risk assessment techniques and underwriting principles.
- 7+ years of payment processing industry experience with extensive knowledge of merchant processing industry trends, best practices, and regulations, specifically per the card brands and NACHA.
- Substantive understanding of the regulatory bodies and ability to understand how legislation decisions can impact our business and credit policy changes.
- High proficiency in the use of risk management software and tools demonstrating a solid technical aptitude based on experience leveraging tools to produce best-in-class reporting, assessments, and KPIs.
- Experienced with business identity platforms to help automate and underwrite clients, automate KYB, and ensure compliance.
- Experienced with enterprise fraud monitoring systems leveraging enriched data to optimize fraud detection and block fraud attacks while reducing false positive alerts.
What you'll bring to the team:
- Strategic and creative thinking to align underwriting and risk management policies with overall business objectives.
- Proven leadership skills to guide and mentor team members in risk management and underwriting.
- Proficiency in developing and implementing technology risk management KYC/KYB/AML frameworks and strategies.
- Capability to build out a highly effective team where people management and leadership as well as the ability to develop talent is vital.
- Ability to ensure the organization's policies and practices are aligned with payment industry regulations and standards.
- Strong analytical skills to identify potential risks, assess their potential impact, and devise effective mitigation strategies.
- Strong competency to collaborate with cross-functional teams, including other technology, security, compliance, application/product teams, and business / regional teams.
- Advanced degree and/or certifications in risk management disciplines preferred.
All of our Veeps live out our core values:
We look for excellence: individuals that are better than we are and not only meet our values but bring value to our teams.
Research shows that while men apply to jobs when they meet an average of 60% of the criteria, women and other marginalized folks tend to only apply when they check every box. Think you have what it takes, but not sure you check every box? Apply to the role anyways. We’d love to talk and determine together whether you could be a great fit!
We are committed to providing an environment that is inclusive and accessible. Versapay is an equal opportunity employer and considers all applicants for employment without discrimination. Please let us know if accommodation for the recruitment/interview process is required and we will work with you to make sure your needs are addressed.