Retail Credit Underwriter

Daimler AG (Canada); Milton Keynes; Hybrid; GBP 42,000 - 54,000; Full time

Benefits offered by this job

Flexible and hybrid working

Competitive salary and bonus scheme

Pension plan

Wellbeing support and menopause/health

Development Hub and training

Job summary

Mercedes-Benz Financial Services in the United Kingdom is seeking a Retail Credit Underwriter. You will assess complex credit applications for vehicle finance, ensuring compliance with FCA regulations and risk policies.

The role emphasizes timely, well-informed decisions, collaboration across departments and ongoing professional development. Hybrid working model offered with competitive rewards, a strong focus on customer outcomes and a supportive, inclusive workplace culture.

Qualifications

• Excellent analytical skills and attention to detail.
• Effective communication and interpersonal skills.
• Proactive and self-motivated.
• Strong problem-solving abilities.
• Ability to work collaboratively in a team environment.
• Commitment to professional development and continuous learning.
• Flexibility to provide additional hours during peak periods due to new registration months, system downtime or events.
• Proven experience in credit underwriting, preferably in auto finance.
• Strong understanding of FCA regulations and compliance requirements.

Responsibilities

• Credit decision making: evaluate and underwrite complex credit applications up to a personal mandate limit of £150,000.
• Analyse financial statements, credit reports and documentation to assess creditworthiness and affordability.
• Ensure lending decisions align with credit policy, risk appetite and FCA/regulatory requirements.
• Review and verify financial documents to mitigate fraud.
• Escalate high-risk applications to Senior Underwriters or Team Leaders.
• Provide training to Retail Credit – Underwriter Assistant or Administrator roles.
• Support personal development to progress CAL levels.
• Communicate credit decisions clearly to the network and maintain strong relationships.
• Keep informed of UK financial regulations and ensure underwriting practices are compliant.
• Manage a pipeline of applications to meet objectives and collaborate with Sales, Operations and Collections.

Skills

Analytical skills

Attention to detail

Communication

Interpersonal skills

Problem-solving

Team collaboration

Professional development

Flexibility

Credit underwriting

FCA regulations

Job description

Job Description - Retail Credit Underwriter (MER00049O1)

Description

Job Title: Retail Credit Underwriter

Closing Date: 3 November 2026

About us

At Mercedes-Benz Financial Services, our passion lies not only in the finance solutions we provide, but in the people who make them possible. We're enthusiastic, forward-thinking and dedicated to shaping the future of mobility with sustainable solutions and outstanding customer experiences.

Together, we create an inclusive workplace where everyone feels they belong, can contribute and be their best self. Our culture is built on respect and equal opportunity. We celebrate the diversity of our teams, recognising that different perspectives and experiences strengthen who we are, what we do and how we do it.

At MBFS, we are proud to be a Menopause Friendly Accredited Employer, reflecting our ongoing commitment to creating a supportive and inclusive workplace. We offer wellbeing support options and resources for colleagues experiencing menopause and to those who are supporting someone through it.

How you’ll play your part

This role offers the opportunity to make a meaningful impact by making responsible lending decisions that support customers while effectively managing credit risk. We're looking for someone who demonstrates sound judgement, strong analytical skills and attention to detail, with experience or knowledge of credit underwriting, affordability assessment and financial services regulation.

Working within a fast-paced, customer-focused environment, you'll help to deliver timely and well-informed credit decisions, contributing to positive customer outcomes, effective risk management and a seamless vehicle finance journey.

Main Accountabilities

Credit Decision Making:

Evaluate and underwrite complex credit applications for private individuals and businesses seeking vehicle finance via the Mercedes-Benz Car and Van network, making informed lending decisions up to a personal mandate limit of £150,000.

Conduct thorough analysis of financial statements, credit reports, and other relevant documentation to assess creditworthiness and affordability to identify potential risks.

Ensure all lending decisions align with the company's credit policy, risk appetite, and regulatory requirements, particularly those set by the Financial Conduct Authority (FCA), including CONC, Consumer Duty, Vulnerable Customer and AML risks.

Review and verify all financial documents for accuracy and completeness, mitigating potential fraud.

Identify and escal ate complex or high-risk applications to Senior Underwriters or Team Leaders as appropriate.

Training and Development:

Provide ongoing support to team colleagues in the Retail Credit – Underwriter Assistant or Retail Credit – Administrator roles regarding the fundamentals of credit underwriting, risk assessment, and decision-making processes.

Actively engage with personal development plan to work towards gaining enhanced skills and experience to progress through the personal CAL levels.

Network Communication & Relationship Management:

Communicate credit decisions clearly and effectively to the network, providing constructive feedback and rationale for approvals, declines, or modified terms.

Build and maintain strong working relationships with network staff, ensuring a smooth and efficient application process while upholding service level agreements.

Compliance & Risk Management:

Keep informed of changes in UK financial regulations, particularly those from the FCA, and ensure all underwriting practices remain compliant.

Contribute to the continuous improvement of underwriting policies and procedures to enhance efficiency, accuracy, and compliance.

Ensure all mandatory and role related training assessments are completed within the appropriate time to remain compliant.

Operational Excellence:

Manage a pipeline of applications efficiently, ensuring timely processing and decision-making to meet business objectives whilst ensuring good outcomes for customers.

Collaborate with other internal departments, such as Sales, Operations, and Collections, to ensure a seamless customer journey.

What you’ll bring

The requirements for this role are highlighted below. If your experience looks a little different and you believe you have transferable skills that would help you succeed in this role, we'd love to hear from you.

Excellent analytical skills and attention to detail.

Effective communication and interpersonal skills.

Proactive and self-motivated.

Strong problem-solving abilities.

Ability to work collaboratively in a team environment.

Commitment to professional development and continuous learning.

Flexibility to provide additional hours during peak application periods due to new registration months, system down-time or ad hoc sales events.

Proven experience in credit underwriting, preferably within the auto finance sector.

Strong understanding of FCA regulations and compliance requirements.

At Mercedes-Benz you are required to maintain ethical standards in accordance with our policies. You must also adhere to the company's compliance guidelines and policies including anti-bribery and all relevant competition law.

What's in it for you

• Flexible and hybrid working – Hybrid working for office-based roles, helping you balance your time between home and the office and the option to request flexible working arrangements.
• Reward and benefits – Competitive salary, bonus scheme and a company-funded benefits bank that allows you to choose between a range of benefits to suit your lifestyle, including options such as private medical insurance, dental insurance, income protection, a health cash plan, annual leave purchase, medical screening, discounted gym membership and more.
• Time to recharge – 25 days annual leave, increasing with length of service.
• Mercedes-Benz perks – The opportunity to drive a Mercedes-Benz through one of our colleague car schemes.
• Planning for the future – A company pension to help build financial security for today and tomorrow.
• Wellbeing support – Access to 24/7 Employee Assistance Programme, Peppy, Mental Health First Aiders, Menopause Support and a Virtual GP Service.
• Development opportunities - Take charge of your growth with access to our Development Hub, offering learning tools, virtual and in-person training, leadership programmes, and resources to support your career development.

Need adjustments during the recruitment process?

We want every candidate to feel supported throughout our recruitment process. If there is anything we can do to help you participate fully and comfortably, please let us know. We're committed to creating an accessible experience and will work with you to provide any support or adjustments you may need.

Right to work

Due to UK legislation, we can only accept applications from candidates who have the right to work in the UK.