First Data Merchant Solutions (Hong Kong) Private Limited
First Data Merchant Solutions, a subsidiary of First Data Corporation, is a leading provider of merchant acquiring services. As specialists in the payment solutions industry, First Data Merchant Solutions helps businesses in Asia with all their payment processing needs. Our wide range of payment products includes credit card acceptance products, e-commerce solutions and integrated point-of-sale systems. Combined with our global reach and the convenience of a best-in-class payment network, we provide cost-effective, efficient merchant services for businesses across the region.
Credit/ Risk Analyst
jobsDB Ref. JHK100003004916462
Purpose / Responsibilities:
The primary objective is to accurately identify and manage risk exposure, minimize business losses, maximize revenues, and ensure profit and loss stability consistent with support of FDMS’s growth goals. This is accomplished in the following way:
- Underwriting: The timely and accurate risk assessment of new merchant applications
- Fraud Monitoring: Continuous review of merchant transaction activity for possible fraudulent activity and responding appropriately to prevent damage to FDMS in the event of fraud or merchant insolvency
- Investigations: Through fraud investigation activities the role contributes to the prevention and reduction of fraud in the North & Southeast Asia market – to the direct and/or indirect benefit of FDMS.
- Collection: The speedy recovery of debts in merchant accounts to avoid FDMS from financial loss.
• The CRA is expected to be familiar with and follow the policies as described in the FDMS Credit Policy.
Measurable outcomes / Objectives
• New applications are expected to be handled within 2 business day while the approval rate is maintained at above 95%.
• All risk Investigations generated by RMW to be actioned appropriately within 48 hours of entering the CRA queue
• Support the Credit/Risk Manager in ensuring that all department targets are achieved (shared objective)
• Monthly reporting delivered before the 7th of the following month
Responsibilities and Activities
The responsibilities and activities of the CRA can be broadly classified in four areas. The CRA is expected to be able to work to an acceptable standard in all areas though ‘specialization’ in one area is also possible.
• Manage the end to end underwriting process
• Perform analysis of new applications and provide input as to whether to approve or decline a credit facility within own credit limit
• Escalate any issue that may result in a breach of agreed Policy
• Manage all pending cases related to missing data, incomplete applications, etc (contact with Sales and/or referral partners)
• Assist in updating the Local Business Credit Risk Policy Manual (Underwriting & Periodic Reviews process)
• Assist in defining and putting in place controls to verify adherence of underwriting and periodic review processes to the agreed policies
• Determine deposit / collateral amounts
• Ensure day to day operational process is consistent, correctly done and fully documented
• Database maintained correctly
2) Fraud Monitoring
• Using internally developed monitoring tools monitor accounts for potential fraud events, focusing on early detection and action
• Investigate unusual patterns of transactions
• Complete fraud and risk reviews using various information such as internal processing activity & third party information.
• More serious issues move to investigations
• Investigations may be initiated as a result of internal monitoring activity or external advice
• In the event of suspected or confirmed fraud visit or call merchants
• Act as the FDMS contact with risk counterparts at other acquirers, banks, law enforcements, card schemes and maintain regular contact with these bodies
• Takes if necessary direct and independently measures, which limit the risk for the organization.
• Ensure all appropriate parties and systems are kept informed and updated as to progress of investigations. (in accordance with FDMS policies and procedures)
• Work on the collection of outstanding receivables as needed.
• Provide inputs concerning reserve adequacies and recommend write-offs for uncollectible accounts.
• Assign and follow up cases with collection agency.
• Work with Credit MI team to provide timely collection MIS.
5) Other activities
• Interact with Operations Teams, Sales Teams, Referral Partners and UK office for the resolution of day-to-day activities
• Review, analyze card schemes’ fraud reports
• Prepare monthly productivity and Management reports
• Liaise regularly with the Credit MI team in the UK
• Provide on-site fraud awareness training to merchants
A number of applications will be used by the CRA – proficiency is required in all.
• Global Underwriter – used for underwriting and exposure calculation purposes.
• RMW – used to identify and track resulting actions from suspected fraud.
• ICE – for collection.
• RAM – An Omnipay application used for risk purposes for merchant activity monitoring.
• MasterCard Connect – predominantly MATCH – terminated merchant file and SAFE
• VISA Online – predominantly used for VMTS – terminated merchant file
Requirements / Knowledge & Training:
• Must be able to set the right tone with merchants – firm where necessary, conciliatory and friendly where necessary.
• Confidence in working in both English and Chinese.
• Maintain effective relationships with all aspects of the business
• Creativity and negotiation skills essential
• Skills in teamwork; both internally and external.
• At least 2 years experience in merchant acquiring business