Head of Underwriting
Head of Underwriting – Property/Short–Term Finance
Location: Central Manchester
Salary: GBP60k –GBP70k + Bonus + Generous Benefits
Working Hours: Monday to Friday – 9am–5.00pm
Our client is a specialist property lender that operates in the niche short–term finance market, they are looking for an experienced Head of Underwriting with a background in both bridging and development finance to join their growing business.
The Head of Underwriting will have the opportunity to join a dynamic and fast–growing company. To support this growth, they are looking to hire a 'best in class resource' to enhance their client experience.
As the Head of Underwriting, you will act as the manager and mentor to the Underwriting team and provide structured training including support with performance reviews. Our client's Borrowers are predominately sophisticated property investors and developers although our client will lend to less experienced individuals supported by strong management and construction teams.
The business will operate in accordance with the principles of TCF. Particularly relevant is the FCA's Principles for Businesses. Conduct Risk will be closely managed in line with the Bank's policy. As part of the Bank, our client will recognise and fully comply with its regulatory requirements under PRA and FCA supervision.
Their business model is based on a relationship–led origination platform split between finance intermediaries and direct client relationships. Business will be generated through existing relationships with intermediaries which are highly active in the bridging and development finance space and have demonstrated their expertise and value to Management over several years.The business has also established direct client relationships, this is a channel the business is keen to grow.
This is an excellent time to join a successful company who have ambitious plans to continue growing in the coming years.
- To underwrite and manage loan applications in line with the Bank's policy's and procedures.
- Maintain relationships with key stakeholders as well as approved Panels of professional advisor's (including Solicitors, Valuers and Surveyors).
- To act as a second line of defence role, to lead the team responsible for mainstream underwriting of all deals, with due regard for Policy and regulation.
- To be a member of Credit Committee as approved by the Boards of the Bank.
- To assist the Managing Directors and Chief Credit Officer with submission of Policies, Processes and Procedures for in accordance with the company's credit strategy.
- To ensure systems and processes for credit underwriting and monitoring of MI are fit for purpose.
- To ensure all credit applications are reviewed within a professional and timely response.
- To efficiently manage the pipeline of new business and credit applications.
- To understand and analyse key items for assessing credit risk, such as business & development appraisals, valuation reports, legal due diligence, credit searches and financial statements.
- To review and collate the regular submission of Credit & Underwriting MI to the committee.
- Proven background in Banking with a particular emphasis on Credit, Securities and Banking Law.
- Extensive practical experience of Credit Underwriting and Loans Administration from within both a Commercial Banking environment and Specialist Finance environment.
- Previous experience of Line Management responsibilities.
- Good regulatory knowledge of the principles behind TCF, Responsible Lending and Vulnerable Customers.
- Robust understanding of financial accounts, valuations, business appraisals and credit searches.
- Ability to work to tight deadlines when required and experience of working in a dynamic team.
- Excellent planning & organisational skills
- Computer literate (good knowledge of MS Office suite – Excel, Word, Power–Point)
- Adaptable & flexible with Client–focused approach.
- Ability to work on own and as part of a team with a "cando" attitude.
Interested, please apply for an immediate interview