Posted 4 days ago
Description
The Merchant Risk team plays a critical role in the setup and administration of merchants within our proprietary closed loop acceptance circle. This includes the configuration of financial contract terms such as interchange rate, payment terms, depository bank information, and fees which are directly related to approximately $60B in annual settlement payments to the merchants and collection of approximately $1B in processing fees or WEX revenue. There is moderate supervisory oversight in this role with more potential for financial impact on the $60B in settlement and $1B in revenue through audits and execution of financial controls within the department. The primary function of this position is to set up newly contracted merchants and their corresponding locations and administer existing merchants, inclusive of market or contract term changes. The role operates within multiple technical applications. This role must balance management of financial risk associated with merchant settlement and interchange revenue recognition with a positive merchant experience. This includes initiatives to drive scale, reduce reliance on manual processes, and mitigate operational risks.
Data entry and configuration of merchant financial contract terms such as interchange rate, payment terms, depository bank information, and fees
Seeking and implementing opportunities for efficiency and process improvement in the course of executing stakeholder support tasks and requests
~ Issue investigation and resolution, including but not limited technical, servicing, electronic files, network, settlement, site, reporting and billing.
Success is measured by resolution time and merchant satisfaction.
Manage relationships by building and sustaining client satisfaction with stakeholders .
Advocating for merchant needs, while ensuring best practices are followed.
Acting as the main point of contact for day to day operations, and coordinating communication between the stakeholder and all functional areas within WEX.
Mitigating levels of financial risk as it relates to contractual compliance
~ Identification of process improvement opportunities
~ Ensuring procedures, policies, and contracts are correctly followed and complied with
Management of reporting, inclusive of audit and other auxiliary reporting such as volume and performance tracking reports; Must be comfortable in providing various reporting needs as required internally utilizing MS Word, Excel, and PowerPoint.
Manage and successfully execute against projects specific to Merchant Risk.
Play an active role in responding to change and growth helping to evolve the operation. This may be done by identifying outdated processes or inefficiencies in existing processes and taking ownership of driving improvement, finding ways to eliminate wasteful processes that are a barrier to scale objectives, making recommendations for technical development to better equip and position partner operations to support growth strategies, and taking on stretch project assignments.
Bachelor’s degree and/or minimum of 2-4 years of experience in a comparable operations role.
Flexible/Adaptable to change
interpersonal and customer service skills with the ability to ascertain information and maintain dialogue with multiple teams.
Intermediate knowledge of PC based application software with an emphasis on spreadsheets and data management skills.
Strong attention to detail with some experience conducting quality audits.
Proven experience in managing high-volume financial transactions and ensuring compliance with relevant regulations and standards.
Ability to interpret contract language and operational financial terms
Excellent time management, prioritization skills, goals setting, planning and work scheduling skills.
Ability to identify opportunities to improve performance and efficiencies within department and self
The base pay range represents the anticipated low and high end of the pay range for this position. Most sales positions are eligible for commission under the terms of an applicable plan. Non-sales roles are typically eligible for a quarterly or annual bonus based on their role and applicable plan. WEX's comprehensive and market competitive benefits are designed to support your personal and professional well-being. Benefits include health, dental and vision insurances, retirement savings plan, paid time off, health savings account, flexible spending accounts, life insurance, disability insurance, tuition reimbursement, and more.
