Director, Underwriting, Funding & Risk

It's fun to work in a company where people truly BELIEVE in what they're doing!

Fullsteam is a leading provider of vertical software and embedded payments technology dedicated to helping businesses flourish by providing their customers with seamless experiences. With a dynamic and growing team of over 1,900 employees, we are committed to driving innovation and delivering best-in-class software and payment solutions that empower small and medium-sized businesses across numerous industries. Our purpose is to help our customers grow their businesses and delight their customers. Join us and be a part of a forward-thinking company that values growth, excellence, and the success of our clients.

The Director, Underwriting, Funding & Risk leads the end-to-end payments underwriting, risk management, funding, and collections operations for U.S. and Canadian merchants, ensuring scalable, compliant, and data-driven processes that support company growth and protect the organization from financial and regulatory risk.

This role is responsible for overseeing merchant onboarding and underwriting from application through approval, monitoring portfolio performance, establishing compliant underwriting and risk frameworks, managing acquiring bank and vendor relationships, and driving automation and continuous improvement across underwriting, risk, funding, and collections.

Responsibilities and Duties:

• Lead the payments underwriting process from application through approval for U.S. and Canadian merchants, ensuring accuracy, efficiency, and consistent decisioning.
• Establish, maintain, and regularly review underwriting policies and procedures in alignment with regulatory requirements and industry best practices.
• Conduct and oversee risk assessments and creditworthiness evaluations of prospective merchants.
• Develop and implement underwriting risk-mitigation strategies within onboarding and application systems to minimize loss exposure.
• Implement and enhance advanced modeling and data-driven techniques to improve underwriting precision and decision quality.
• Partner with Product, Engineering, Operations, and external vendors to design and execute onboarding and underwriting process enhancements.
• Provide strategic leadership for Agreement Express (AEX) platform.
• Monitor and analyze portfolio performance and risk trends, identifying emerging risks and opportunities for improvement.
• Partner with Product and Engineering to design and execute risk monitoring process enhancements.
• Utilize internal reporting and analytics tools to support data-driven risk decisions.
• Partner with Legal and Compliance to remain current on PayFac regulations and network rules, including AML, KYC, OFAC, and card network and ACH requirements.
• Prepare and present risk management reporting to the CFO and other senior stakeholders.
• Complete and file all required Unusual Activity Reports (UARs) with acquiring banks.
• Manage relationships with acquiring bank risk teams, AML partners, and auditors.
• Oversee the design, implementation, and continuous improvement of high-risk alert monitoring systems and criteria.
• Partner with Product, Engineering, and internal stakeholders to design and implement funding and settlement automation solutions.
• Coordinate cross-functional communication related to funding issues between Support, Finance, Accounting, and business units.
• Own the collections function for software and payments accounts, including returned merchant funding and billing.
• Collaborate with Accounting to provide monthly write off data for reconciliation and close processes
• Establish and maintain collections policies, workflows, and escalation paths.
• Ensure accurate merchant account changes and adjustments in accordance with policy and contractual requirements.
• Partner with Accounting, Finance, and Operations to ensure alignment between collections activity, reconciliation, and financial reporting.
• Manage relationships with underwriting, onboarding,  risk technology vendors, and 3rd party collections agency.
• Ensure vendor capabilities align with business objectives, regulatory requirements, and scalability needs.
• Monitor vendor performance, deliverables, contracts, and issue resolution.
• Lead, coach, and develop a team of underwriters, risk/funding specialists, and collections specialists.
• Set clear performance goals and regularly evaluate progress, providing timely feedback and guidance.
• Drive development and execution of communication plans that promote transparency, alignment with company values, and a strong employee experience.
• Foster a collaborative and inclusive culture that encourages continuous improvement and professional growth.
• Support administrative processes and initiatives that enable effective team operations.
• Model and reinforce company values and expected behaviors, contributing to a positive and high-performance culture.

Skills and Competencies:

• Strategic underwriting, risk, merchant compliance, and portfolio management expertise
• Strong knowledge of PayFac, AML, KYC, OFAC, and card/ACH network rules
• Advanced analytical skills and data-driven decision making and financial acumen
• Ability to influence cross-functionally and drive alignment
• Strong people leadership, coaching, and performance management skills
• High judgment, integrity, and accountability
• Ability to identify issues, analyze data, and develop practical solutions to complex problems.
• Ability to evaluate processes from a business analyst perspective, including defining and documenting workflows, identifying inefficiencies or opportunities for improvement, and developing actionable plans to enhance effectiveness and alignment with organizational objectives.
• Capability to think strategically and critically evaluate situations to make informed decisions.
• Strong interpersonal skills to work effectively with diverse teams and build positive working relationships.
• Exceptional ability to prioritize tasks, manage multiple projects simultaneously, and meet deadlines.
• Ability to handle sensitive and confidential information with discretion.
• Strong written and verbal communication skills.
• Proficiency in Microsoft Excel.

Experience and Education Requirements:

• Bachelor’s degree in Accounting, Finance, Business, or related field; Master’s or MBA preferred.
• 8+ years of progressive experience in underwriting, risk management, fraud, or payment processing within fintech, payments, or financial services.
• Prior experience leading multi-disciplinary teams in medium-to-large, complex organizations.
• Experience managing U.S. and Canadian underwriting, risk, funding, and/or collections operations.
• Experience with Agreement Express preferred.
• Experience in PayFac preferred
• Experience working in WorldPay system preferred
• Experience in processing electronic checks preferred Experience operating in fast-paced, high-growth environments, including 24/7/365 operations.

Fullsteam supports an inclusive workplace that values diversity of thought, experience, and background. Fullsteam is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, ancestry, age, physical or mental disability, sex, sexual orientation, gender identity/expression, pregnancy, veteran status, marital status, creed, status with regard to public assistance, genetic status or any other status protected by federal, state, or local law.