Merchant Specialist II

About the Team/Role

The Merchant Risk team plays a critical role in the setup and administration of merchants within our proprietary closed loop acceptance circle. This includes the configuration of financial contract terms such as interchange rate, payment terms, depository bank information, and fees which are directly related to approximately $60B in annual settlement payments to the merchants and collection of approximately $1B in processing fees or WEX revenue. There is moderate supervisory oversight in this role with more potential for financial impact on the $60B in settlement and $1B in revenue through audits and execution of financial controls within the department. This role is expected to drive operational excellence by identifying opportunities to streamline processes, leveraging automation and AI tools where appropriate, and fostering a team environment that is adaptable to change and embraces new ways of working. The primary function of this position is to set up newly contracted merchants and their corresponding locations and administer existing merchants, inclusive of market or contract term changes. The role operates within multiple technical applications. This role must balance management of financial risk associated with merchant settlement and interchange revenue recognition with a positive merchant experience. The role has several key responsibilities including but not limited to: ensure operational timeliness and accuracy through robust audits, lead issue investigation and resolution.

How you'll make an impact

• Proactively identify and embrace opportunities to integrate AI and automation technologies into operational processes. This includes initiatives to drive scale, reduce reliance on manual processes, and mitigate operational risks.

OPERATIONAL TIMELINESS AND ACCURACY:

• Data entry and configuration of merchant financial contract terms such as interchange rate, payment terms, depository bank information, and fees

• Responding to requests from or on behalf of stakeholders with appropriate urgency

• Management of maintenance or other requests including adjustments, setups, etc. within deadlines and with minimal errors or follow-up issues;

• Seeking and implementing opportunities for efficiency and process improvement in the course of executing stakeholder support tasks and requests

• Ensuring best practices are followed for Bank/TIN changes while meeting service level objectives

ISSUE INVESTIGATION + RESOLUTION

• Issue investigation and resolution, including but not limited technical, servicing, electronic files, network, settlement, site, reporting and billing.

• Success is measured by resolution time and merchant satisfaction.

MAXIMIZE RELATIONSHIPS:

• Manage relationships by building and sustaining client satisfaction with stakeholders .

• Advocating for merchant needs, while ensuring best practices are followed.

• Acting as the main point of contact for day to day operations, and coordinating communication between the stakeholder and all functional areas within WEX.

AUDITING:

• Ensures compliance with established internal controls

• Mitigating levels of financial risk as it relates to contractual compliance

• Identification of process improvement opportunities
• Ensuring procedures, policies, and contracts are correctly followed and complied with

REPORTING

• Management of reporting, inclusive of audit and other auxiliary reporting such as volume and performance tracking reports; facilitating creation of customized reporting to support special circumstances.

• Must be comfortable in providing various reporting needs as required internally utilizing MS Word, Excel, and PowerPoint.

• Ensure full comprehension and accuracy of all reporting before sharing with stakeholders

PROCESS OWNERSHIP

• Manage and successfully execute against projects specific to Merchant Risk.

• Demonstrate broader responsibility to administrate beyond assigned duties

• Play an active role in...