Sr. Merchant Underwriter

About Coinflow

Coinflow is a next‑generation payments company headquartered in Chicago, pioneering the way money moves globally. We enable merchants and marketplaces to accept payment methods across 170+ countries with instant settlement, AI‑driven fraud prevention, and blockchain‑based proof‑of‑delivery.

Backed by leading investors—including Pantera Capital, CMT Digital, Coinbase Ventures, Jump Capital, and Reciprocal Ventures—Coinflow recently raised a $25M Series A to accelerate our mission to modernize cross‑border payments.

Since our seed round in 2024, we’ve achieved 23x revenue growth and scaled to a multi‑billion‑dollar annual transaction volume run rate!

As a Senior Merchant Underwriter, you will perform critical analyses on all merchant applications. This includes reviews of licences, legal opinions, transaction activity, and credit risk. You will hold independent decision‑making authority for standard merchant applications and serve as a lead advisor for high‑risk sectors (e.g., Crypto, Real Money Gaming, Remittance); for these complex reviews, you will determine the optimal underwriting posture and present formal approval, approval with mitigation, or decline recommendations to risk & executive leadership.

• New Business Underwriting:
  Evaluate merchant applications, ensuring that merchants are operating legally, within Card Scheme Rules, and within Coinflow’s operational risk appetite. This includes credit reviews to ensure financial stability and the ability to cover potential chargeback liabilities.
• Backbook & Portfolio Reviews:
  Complete refresher reviews of the existing merchant portfolio, such as reviewing updated licences, legal opinions, or financial statements to ensure that merchants are still operating compliantly and manage any changes to their risk profile.
• Alert Investigation:
  Perform investigations on chargeback spikes, ACH returns, or other indicators of changes to a merchant’s risk profile.
• Process & Efficiency Projects:
  Drive process improvement or tooling projects to improve efficiency and scale our underwriting programme.
• Regulatory & Scheme Adaptation:
  Lead initiatives to update internal processes and policies in response to emerging card partner/scheme requirements, laws, or new regional expansions.
• Risk Mitigation:
  Determine actionable conditions for approval, such as implementing reserves, transaction limits, or enhanced monitoring.
• Collaborate cross‑functionally:
  Partner with Compliance, Product, Engineering, and Operations to help build scalable underwriting solutions.

• 4+ years in fintech, payments, banking, or financial services underwriting.
• Understanding of payment processing, merchant acquiring, and transaction risk.
• Familiarity with evaluating high regulatory risk business models, such as business related to crypto, remittance, real money gaming, and prediction markets.
• Proven track record meeting SLAs and performance expectations.
• Strong analytical skills with ability to work with data and make evidence‑based decisions.
• Excellent communication skills and comfort operating in ambiguous, fast‑paced environments.
• Proficiency in spreadsheet software (Excel/Google Sheets) for data modelling, trend analysis, and synthesis of merchant processing data.

• Experience working with transaction monitoring systems and case management platforms.
• SQL and business intelligence tools (e.g., Tableau, Looker).
• Background in high‑growth payment companies.
• Interest in cryptocurrency and/or blockchain analytics expertise (Chainalysis, Merkle, Elliptic, TRM Labs).

• Build from the ground up – Shape our financial crimes programme with executive visibility.
• High‑growth opportunity – Join during a pivotal phase with room to expand your role with the team and scope.
• Cutting‑edge work – Operate at the intersection of compliance, crypto, and innovative payment technology.
• Competitive package – Strong salary, equity, comprehensive benefits, and professional development support.
• Collaborative culture – Work with talented, mission‑driven people building the future of payments.

Chicago