Underwriting Manager

payabl. empowers businesses to grow through payments innovation and banking services. Our ambition is to expand our strong portfolio of global financial services we provide to businesses and make them all available in one place on our platform we call payabl.one. As a licensed financial company with principal membership with card schemes, we specialize in global payments and providing businesses with multi-currency accounts.

About the role:
The Underwriting Manager will play a critical role in the company’s risk management process, overseeing the end-to-end underwriting workflow — from merchant assessments and onboarding reviews to ongoing portfolio monitoring. The role combines strategic thinking with hands-on analytical execution, requiring strong skills in analyzing transaction data, identifying suspicious activities or red flags, and ensuring compliance with the card schemes rules and internal risk policies.

This position demands both process ownership and cross-functional collaboration across Risk, Compliance, Operations and Sales to continuously improve underwriting frameworks, enhance documentation, and uphold the company’s data-driven approach to risk management. The ideal candidate will be confident in taking independent responsibility for underwriting practices while maintaining open communication and alignment with other teams to mitigate financial risks and safeguard the business.

Location: Limassol, Cyprus or Lithuania

Reporting line: Head of Underwriting & Monitoring



What you will do:

• Facilitate merchant underwriting and onboarding assessments.
• Monitor merchant portfolios to flag or identify suspicious activity, reviewing transaction data to detect risk patterns, anomalies, and potential red flags.
• Conduct risk assessment, registration, and monitoring of third-party agents, ensuring compliance with Card Scheme regulations, internal policies, procedures, and APM requirements.
• Investigate any transactional patterns that deviate from expected activity and recommend appropriate risk mitigation controls.
• Handle queries and resolve risk-related issues with prospective and existing merchants.
• Ensure adherence to company, Card Scheme, and payment provider rules and policies.
• Generate reports and insights regarding merchant activity, supporting periodic and ad-hoc reviews and audits.
• Refine and enhance internal underwriting processes, playbooks, and documentation, contributing to continuous improvement and sharing best practices.
• Collaborate closely with Risk, Compliance, Operations and Sales teams to ensure alignment on risk appetite, decisions, and portfolio management.
• Handle complex or escalated underwriting cases, providing data-backed recommendations.
• Support training and knowledge-sharing initiatives within the Risk team to maintain and build a strong risk culture.

Who you are:

You are a detail-oriented and analytical risk professional with hands-on experience in merchant underwriting, online due diligence, and fraud risk assessment. You understand how to identify red flags, assess credit and transaction laundering risk, and have strong knowledge of Card Scheme rules (Visa, Mastercard, and AMEX) as well as internal policies, ensuring safe and compliant merchant onboarding.

What we need:

• Minimum 1 year of hands-on experience within the payments industry, specifically in merchant underwriting, credit risk, transaction monitoring, customer due diligence or other related role within a fintech or financial services environment.
• Experience or familiarity with merchant onboarding and ongoing monitoring, including assessing merchant risk and managing low- and/or high-risk portfolios.
• Familiarity with merchant risk assessment concepts and card processing fundamentals, with a willingness to continue developing knowledge in this area.
• Demonstrated ability to analyse websites, transactional and financial data, identify suspicious activity and risk patterns, and recommend appropriate mitigation measures.
• Ability to operate in a regulated environment, strictly following internal procedures and external compliance requirements, while escalating non-compliance where necessary.
• High attention to detail, strong organisational skills, and the ability to manage workload effectively under deadlines.
• Ability to work independently while collaborating closely with Risk, Compliance, Operations, and Sales teams.
• Experience within Acquiring, PSP, or Card Scheme environments will be considered an advantage.
• Exposure to Visa, Mastercard, and AMEX regulations and monitoring frameworks will be considered an advantage.
• Familiarity with fraud detection, chargeback monitoring, and underwriting tools such as WebShield, TrueBiz, G2, LegitScript, EverC, SimilarWeb, or Ballerine will be considered an advantage.
• Adaptability to evolving risk landscapes and changing Card Scheme requirements, with a strong willingness to learn and develop skills within the Risk function.

The perks of being a payabl.er:

• Future-Proof Your Finances: Once you’ve passed probation, we’ll kickstart your Provident Fund to secure your future.
• Grow with Us: Annual Learning Budget for professional development (after probation)—because your growth is our growth.
• Wolt Your Way Through Lunch: €150 monthly Wolt allowance to keep you fueled and happy.
• Drive in Style: After one year with us, you may be eligible for a company car—performance and availability permitting.
• Park with Ease: Complimentary parking space just steps from the office, so your commute is as smooth as your workday.
• Max Out Your Downtime: 25 days of vacation + public holidays, plus an additional 10 sick days to rest when needed.
• Shop & Save – Discounts: Exclusive local discount card + tickets for exciting events like Beonix, basketball games, and more.
• Speak Like a Local – Language Classes: Join free Greek language classes, twice a week, open to all team members.
• Celebrate Together: Twice a year, we bring colleagues from all offices together for unforgettable company celebrations.
• Global Collaboration & Events: Opportunities to participate in international company events and initiatives, connecting with colleagues from all regions and contributing to a truly global community

Please note: the posted benefits are for Cyprus office. As this role is open to multiple locations, the benefits and employment conditions may vary depending on your location. A full overview of applicable benefits and conditions will be discussed during your first interview with our Talent Acquisition team.

🚀 Our Hiring Process:

Step 1- First Interview: Conducted by the Talent Acquisition team (30-40 min).

Step 2- Technical Assessment: A role-specific assessment designed to evaluate your practical skills and problem-solving abilities relevant to the position. This may include a written exercise or task to be completed within a specified timeframe.

Step 3- Technical Interview: Meeting with the Head of Underwriting & Monitoring for a technical discussion and problem-solving assessment.
Step 4- Final Interview: A final meeting with the Chief of Risk to explore how well you align with our culture and values.

Let's embark on a journey to redefine the landscape of payments together. We're not just offering a role; we're inviting you to be a part of something bigger. Join our team, and let's innovate, disrupt, and lead the future of payments. Together, we can make an impact that resonates. Welcome to the team!

If this role seems like a good match, please submit your resume all applications are treated with the strictest confidentiality. Please note that we may keep your CV for a period of one (1) year for future relevant job opportunities. For more information about how we process your data please see our privacy policy at https://www.payabl.com/privacy-policy