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Merchant Underwriting Jobs in Michigan (NOW HIRING)

First Merchant's Bank

Credit Analyst I

Royal Oak, MI · On-site

First Merchants Bank is seeking a Credit Analyst I to join our team! This position will perform credit analysis, underwriting and monitoring of the commercial loan portfolio. As part of this role you ...

First Merchant's Bank

Credit Analyst I

Monroe, MI · On-site

First Merchants Bank is seeking a Credit Analyst I to join our team! This position will perform credit analysis, underwriting and monitoring of the commercial loan portfolio. As part of this role you ...

FIRST MERCHANTS

Credit Analyst I

Royal Oak, MI · On-site

First Merchants Bank is seeking a Credit Analyst I to join our team! This position will perform credit analysis, underwriting and monitoring of the commercial loan portfolio. As part of this role you ...

FIRST MERCHANTS

Credit Analyst I

Monroe, MI · On-site

First Merchants Bank is seeking a Credit Analyst I to join our team! This position will perform credit analysis, underwriting and monitoring of the commercial loan portfolio. As part of this role you ...

First Merchants Bank

Credit Analyst I

Monroe, MI · On-site

First Merchants Bank is seeking a Credit Analyst I to join our team! This position will perform credit analysis, underwriting and monitoring of the commercial loan portfolio. As part of this role you ...

First Merchants Bank

Credit Analyst I

Royal Oak, MI · On-site

First Merchants Bank is seeking a Credit Analyst I to join our team! This position will perform credit analysis, underwriting and monitoring of the commercial loan portfolio. As part of this role you ...

First Merchants Bank

Credit Analyst I

Monroe, MI · On-site

First Merchants Bank is seeking a Credit Analyst I to join our team! This position will perform credit analysis, underwriting and monitoring of the commercial loan portfolio. As part of this role you ...

First Merchants Bank

Credit Analyst I

Royal Oak, MI · On-site

First Merchants Bank is seeking a Credit Analyst I to join our team! This position will perform credit analysis, underwriting and monitoring of the commercial loan portfolio. As part of this role you ...

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Merchant Underwriting information

See Michigan salary details

$41.8K

$89.8K

$138.1K

How much do merchant underwriting jobs pay per year?

As of Aug 20, 2026, the average yearly pay for merchant underwriting in Michigan is $89,846.00, according to ZipRecruiter salary data. Most workers in this role earn between $67,100.00 and $105,500.00 per year, depending on experience, location, and employer.

What is merchant underwriting?

A Merchant Underwriting job involves assessing the risk and creditworthiness of businesses applying for merchant accounts to process payments. Underwriters review financial statements, business models, and transaction history to identify potential fraud or financial instability. They work closely with sales teams, risk management, and compliance departments to ensure merchants meet regulatory and company requirements. The goal is to approve legitimate businesses while minimizing financial risk for the payment processor or financial institution. This role requires analytical skills, attention to detail, and knowledge of payment industry regulations.

What are the key skills and qualifications needed to thrive in merchant underwriting?

To thrive as a Merchant Underwriter, you need strong analytical abilities, a keen understanding of financial statements, and experience evaluating business risk, typically supported by a degree in finance, business, or a related field. Proficiency with underwriting platforms, risk assessment tools, and knowledge of industry compliance standards or certifications such as Certified Risk Professional (CRP) is often preferred. Strong attention to detail, effective communication, and sound judgment enable successful collaboration with sales and risk teams. These skills ensure accurate merchant approvals, mitigate potential losses, and support the financial integrity of the organization.

What are some common challenges faced by merchant underwriters in their daily work?

Merchant Underwriters often encounter challenges such as assessing the risk of new or emerging business models, analyzing incomplete or inconsistent financial data, and staying updated with evolving industry regulations. Balancing the need for thorough risk evaluation with the demands for quick decision turnarounds can also be demanding. Collaboration with sales and compliance teams is essential to resolve cases where risk factors are unclear or customer expectations are urgent. To succeed, underwriters must be adaptable, detail-oriented, and proactive in continuing their professional development to keep up with changing policies and industry trends.

What are the most commonly searched types of Merchant Underwriting jobs in Michigan?

The most popular types of Merchant Underwriting jobs in Michigan are:

What are popular job titles related to Merchant Underwriting jobs in Michigan?

For Merchant Underwriting jobs in Michigan, the most frequently searched job titles are:

What job categories do people searching Merchant Underwriting jobs in Michigan look for?

The top searched job categories for Merchant Underwriting jobs in Michigan are:

Merchant Underwriting jobs near you
Infographic showing various Merchant Underwriting job openings in Michigan as of August 2026, with employment types broken down into 88% Full Time, 6% Part Time, 2% Temporary, 3% Contract, and 1% Nights. Highlights an 73% Physical, 9% Hybrid, and 18% Remote job distribution, with an average salary of $89,846 per year, or $43.2 per hour.

Credit Analyst I

First Merchant's Bank

Royal Oak, MI • On-site

Full-time

Medical, Dental, Vision, Retirement, PTO

Posted 28 days ago

First Merchants Bank rating

7.8

Company rating: 7.8 out of 10

Based on 22 frontline employees who took The Breakroom Quiz

89th of 171 rated banks

Job description

First Merchants Bank is seeking a Credit Analyst I to join our team! This position will perform credit analysis, underwriting and monitoring of the commercial loan portfolio.
As part of this role you will:
  • Complete accurate, unbiased credit analyses within required timelines and according to standards including cash flow analysis, credit decision summary preparation and credit processes.
  • Complete credit monitoring functions for designated portfolio including spreading and review of financial statements, borrowing base and covenant testing, marketable securities and leveraged lending monitoring and annual credit reviews.
  • Assign call codes, NAICS codes, risk grade and risk rating score data accurately.
  • Review appraisals and real estate evaluations.
  • Use of financial spreading software, loan system, cash flow analysis and other credit systems and tools
  • Attend and participate in loan committees as requested.

To be successful in this position, we require the following:
  • Bachelor's degree.

The following would be a plus:
  • Bachelor's degree (or completion within current semester) in accounting, finance, or business.

First Merchants offers the following:
  • Base Pay PLUS Bonuses
  • Medical, Dental and Vision Insurance
  • 401k
  • Health Savings and Flexible Spending Accounts
  • Vacation/Sick Time
  • Paid Holidays
  • Paid Parental Leave
  • Tuition Reimbursement
  • Additional Benefits

A little about us:
First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.
Our Vision is:
To enhance the financial wellness of the diverse communities we serve.
Our Mission is:
To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.
Our Team:
"We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."
Apply today to begin your career with us!
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws.
For further information, please review the Know Your Rights notice from the Department of Labor.

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