Merchant Underwriter
About Coinflow
Coinflow is the next-generation payment service provider revolutionizing global financial infrastructure with stablecoins, AI-driven fraud prevention, and instant settlement. Coinflow enables businesses to grow faster with instant settlement, fraud & chargeback indemnity, global pay-ins, multi-currency FX, and unified payouts. Founded in 2023, the company serves marketplaces, fintechs, remittance providers, gaming platforms, and ecommerce merchants worldwide.
Since our seed round in 2024, we’ve achieved 23x revenue growth and scaled to multi-billion-dollar annual transaction volume. In response to this growth, Coinflow announced a $25M Series A in October 2025—led by Pantera Capital, CMT Digital, Coinbase Ventures, Jump Crypto, and Reciprocal Ventures—accelerating our mission to power the world’s fastest-moving businesses with innovative, reliable global payments.
Coinflow is proudly headquartered in Chicago, IL. Learn more at coinflow.cash.
The Role
As a Merchant Underwriter, you will conduct end-to-end risk assessments and due diligence for a diverse range of merchant applications. Moving beyond foundational support, you will hold independent decision-making authority for low-to-moderate risk accounts and take an active role in the preliminary structuring of complex cases.
You are responsible for evaluating creditworthiness, operational stability, and regulatory compliance across our three risk pillars: Operational, Partner/Scheme, and Legal/Regulatory. In this role, you will not only synthesize data into high-quality case files but also provide vetted recommendations for high-risk or edge-case merchants before they reach senior members of the team and leadership.
What You'll Do
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 calculation of exposure to determine Coinflow’s potential loss in the event a merchant defaults.
Backbook & Portfolio Reviews: Complete refresher reviews of the existing merchant portfolio, such as reviewing updated licenses, legal opinions, compliance policies, and bank 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 merchants risk profile.
Process & Efficiency Projects: Assist process improvement or tooling projects to improve efficiency and scale our Underwriting program.
Risk Mitigation: Recommend 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 improve the Underwriting Program.
Required Qualifications
2+ 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 modeling, trend analysis, and synthesis of merchant processing data.
Preferred Qualifications
Experience working 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).
Bachelor's degree
Why Join Coinflow?
Build from the ground up – Shape our financial crimes program with executive visibility
High-growth opportunity – Join during a pivotal phase with room to expand your role with 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
Location: Chicago
Join the team rewriting how money moves worldwide—and become a driving force in the $194 trillion cross-border payments market.