Merchant Cash Advance Underwriter (Hybrid)
Rewards Network
$28 - $36 / hour
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Description
- Conduct detailed reviews to evaluate merchants for the cash advance product line in accordance with company guidelines.
- Analyze financial data, including credit reports, business financial statements, bank statements, and credit card statements to inform underwriting decisions.
- Assess risk profiles and determine creditworthiness while calculating appropriate approval amounts for each case.
- Authorize funding approvals within assigned policy limits or provide recommendations for policy exceptions when necessary.
- Review contract packages to verify accuracy, ensure completeness, and confirm legal compliance.
- Collaborate with sales teams and cross-functional internal departments to align risk assessments with business objectives.
- Maintain thorough documentation of due diligence findings and underwriting decisions for compliance and future reference.
- Strong analytical and problem-solving skills with ability to think outside the box
- Self-motivated and strong work ethic with the ability to proactively solve problems and make independent decisions
- Proficiency using database and spreadsheet applications while completing data entry accurately and efficiently (Intermediate MS Excel skills required)
- Salesforce experience a plus
- Excellent communication skills, both written and verbal, required to articulate recommendations to various levels of management and negotiate terms with field sales when needed.
- High School Diploma or Equivalency
- At least 2-3 years of directly related job experience
- College Degree in Finance, Economics, Business, or related field preferred
- Experience in merchant cash advance or loan underwriting preferred
- This is a full-time, nonexempt position; the base compensation for this opening is expected to be $28-$36 per hour ($58,240-$74,880 annualized), based on candidate experience, skills, and other factors
- Competitive Paid Time Off and company holidays
- Generous dining reimbursement when you dine with our restaurant clients
- 401(k) plan with a company match
- Two medical plan options- Standard PPO or High Deductible Health Plan (HSA with company match for HDHP participants)
- Partnership with Rx n Go, offering certain prescriptions for free
- Two dental plan options and a vision plan
- Flexible Spending Accounts and a pre-tax commuter benefit program
- Accident, Critical Illness, and Hospital Indemnity Insurance Plans
- Short Term and Long Term disability
- Company-paid life insurance and AD&D insurance, supplemental employee, spouse, and child life insurance
- Employee Life Assistance Program
- Hybrid working space in our state of the art office downtown located by the Metra and Ogilvie train stations
- Catered lunches provided on Tuesday's in our Chicago office
Benefits
- health insurance
- dental insurance
- vision insurance
- 401(k)
- paid time off
- life insurance
- commuter benefits
About this role
Rewards Network is seeking a Due Diligence Analyst to evaluate merchant cash advance applications and manage the underwriting process for their financial services products. In this role, you'll analyze financial statements, credit reports, and bank data to assess creditworthiness, calculate approval amounts, and make underwriting decisions within company guidelines. You'll also review contracts for compliance, coordinate with sales teams across the country, and maintain detailed documentation of your findings.
The position requires 2-3 years of directly related underwriting or merchant cash advance experience, strong analytical skills, and intermediate proficiency in Excel and database applications. A college degree in finance, economics, or business is preferred, though a high school diploma is the minimum requirement. You'll need excellent communication skills to present recommendations to management and negotiate with field sales teams when necessary.
This hybrid role is based in Chicago with required office presence Tuesday through Thursday. The position offers a comprehensive benefits package including medical, dental, and vision coverage, 401(k) matching, paid time off, and dining reimbursement when working with restaurant clients. The salary range is $28-$36 per hour based on experience.
This role's local market on JobMinglr
Pay for this role
$28 to $36 per hour
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