Senior Director of Underwriting, Fraud Monitoring, Boarding

This is a fully remote position, open to applicants in Canada.

📋 Description

• Oversee the daily operations of merchant onboarding, underwriting, and risk management for Versapay’s B2B payments platform.

• Manage a team of underwriters, risk analysts, and boarding specialists who support payments and lending applications.

• Revamp the boarding process by utilizing AI-driven workflows, straight-through approval, intelligent exception handling, and human reviews.

• Establish and implement risk appetite, credit policies, exposure limits, approval guidelines, exception reviews, delegated authority workflows, escalation thresholds, and monthly reporting.

• Collaborate with Product, Engineering, Compliance, Finance, Sales, vendors, processors, and sponsor banks on policies, workflows, integrations, reporting, audits, and regulatory preparedness.

• Enhance the technology stack for KYB/KYC, beneficial ownership, sanctions/PEP screening, fraud detection, bank/transaction data, and decision orchestration.

• Introduce automation and AI-assisted document reviews that provide reviewable, auditable outputs and human decision workflows.

• Maintain controls for automated decision-making, documentation, override tracking, quality assurance, and performance evaluations.

• Develop the underwriting operating model for future embedded lending products.

• Collaborate with Finance on portfolio performance, loss forecasting, vintage analysis, reserve modeling, pricing inputs, and lending economics.

• Implement servicing-side risk controls, early-warning alerts, collections strategies, and loss mitigation measures.

• Manage ongoing merchant monitoring, transaction surveillance, chargeback and return analyses, anomaly detection, fraud indicators, ACH-return trends, and credit deterioration assessments.

• Create executive and sponsor-bank exposure dashboards and lead response protocols for high-risk events.

• Ensure compliance with NACHA, BSA/AML, OFAC, card brand regulations, state lending laws, and sponsor bank requirements.

• Recruit, mentor, and expand teams in underwriting, boarding operations, risk analytics, and portfolio monitoring.

• Convert risk strategies into quantifiable SLAs and KPIs.

⛳️ Requirements

• 8+ years of pertinent experience in payments risk, merchant underwriting, boarding operations, credit risk, or financial services operations, including at least 3+ years in leadership roles or overseeing significant operational workstreams.

• Extensive knowledge in merchant underwriting: KYB/KYC, beneficial ownership, financial statement analysis, exposure modeling, MCC/industry risk, and chargeback economics.

• Demonstrated success in modernizing outdated boarding processes through automated decision-making, vendor orchestration, and straight-through processing.

• Practical experience with contemporary risk and verification vendors.

• Familiarity with card brand regulations, NACHA, BSA/AML, OFAC, and operational requirements of sponsor banks.

• Experience working within major card processor and sponsor bank ecosystems.

• Proficiency in SQL and the ability to analyze model outputs and question analyst conclusions.

• Capability to utilize alternative data signals, such as AR/invoice data, payer behavior, accounting-system data, or transaction flows.

• Practical mindset towards automation and AI, ensuring auditable decisions and suitable human oversight.

• Strong communication skills for engaging with senior stakeholders.

• Prior experience in lending preferred, especially in small business lending, working capital, MCA, factoring, term loans, or embedded finance.

• Experience in supporting the launch or operational scaling of lending, credit, or embedded-finance products is preferred.

• Familiarity with AI/ML risk decisioning platforms and LLM-based document review tools is preferred.

• Background in B2B/accounts receivable payments, embedded finance, or vertical SaaS is preferred.

• Exposure to model risk management frameworks is preferred.

• Experience navigating sponsor bank audits and regulatory examinations is preferred.

• A working understanding of lending economics is preferred.

• Experience operating across multiple jurisdictions, including U.S. and Canadian payments or lending regulations, is preferred.

🏝️ Benefits

• Competitive salary and performance-based incentives.

• Comprehensive health and wellness benefits.

• Opportunities for professional development and career advancement.

• Flexible work arrangements and a collaborative team environment.