Senior Merchant Risk Analyst

mx51 is a payments-as-a-service solution for banks, non-bank acquirers, and other merchant service providers. We are building a payment platform that allows merchants to accept payments in-store, in-app and online, whilst consolidating all their data on a real-time business management dashboard.

A Senior Merchant Risk Analyst is responsible for identifying, assessing, and mitigating financial and operational risks associated with merchant accounts in payment processing, fintech, or acquiring environments. This role sits at the intersection of underwriting, fraud prevention, compliance, and business enablement.

Responsibilities of the role

• Review and evaluate new merchant applications for risk exposure, including credit risk, fraud potential, and regulatory compliance

• Conduct due diligence & enhanced due diligence on merchants, including business verification, ownership structure, and industry risk classification based on regulatory requirements

• Monitor existing merchant portfolios for unusual transaction patterns, chargeback trends, and signs of fraudulent activity

• Analyze transaction data to detect fraud, illegal activities, money laundering indicators, or violations

• Investigate and resolve chargeback disputes, fraud claims, and suspicious activity reports

• Prepare risk reports and escalate high-risk cases to senior management to make informed onboarding decisions

• Collaborate with internal and external stakeholders to resolve issues related to the merchant

• Stay current on regulation changes, card scheme rules (Visa, Mastercard) and industry best practices

• Driving process efficiency through an agile approach and strategic AI implementation

• Submit SMR with relevant regulators

About you

• Bachelor's degree in Finance, Business, Economics, or a related field

• At least 8 years of experience within acquiring industry with strong knowledge on merchant risk, fraud operations, payments, or financial crime

• Strong Understanding of AUSTRAC, Scheme Regulation & PCI-DSS frameworks

• Exposure to high-risk merchant verticals (e.g., gaming, nutraceuticals, travel, CBD)

• Knowledge of chargeback management and dispute resolution processes

• Strong analytical and fraud investigative mindset

• Attention to detail and ability to work under pressure

• Clear written and verbal communication for documenting decisions

• Sound judgment in ambiguous or time-sensitive situations

• Ability to balance risk mitigation with merchant experience

• Proficiency in data analysis tools (Excel, SQL, or similar)

What we offer

You will be joining an incredible team who are committed to our vision and company values. Our innovative culture gives you opportunities to make real contributions that will shape the future of the business. In addition to a fun and flexible work environment, we also offer:

• Work from overseas up to 4 weeks per year

• Annual team offsite

• Social events run by our social committee

• Swap a public holiday and take an alternative day off

• Paid leave for volunteering

• Employee Share Option Plan (subject to invitation)

• Paid parental leave for primary and secondary carers

• Novated lease and salary sacrifice options

mx51 is an equal opportunity employer that is committed to creating a diverse and inclusive environment. All qualified applicants will receive consideration for this role without bias to race, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.

Note: mx51 does not accept unsolicited resumes or applications from recruitment agencies.