Senior Underwriter

Liquid; England; Hybrid; GBP 65,000 - 70,000; Full time

Job summary

A leading European bank-owned consumer finance business is seeking a Senior Underwriter to ensure compliance with UK policies. The role involves managing a team, underwriting proposals, and implementing improvements. Applicants should have at least 3 years of experience in a financial services role and possess strong management skills. This position offers a competitive salary of £65k to £70k along with a hybrid working model and excellent benefits including a company car and pension.

Benefits

Company car/cash allowance

BUPA health insurance

Pension plan

Bonus

Rewards and recognition programme

Qualifications

• Strong background in underwriting processes and procedures.
• Practical experience with scorecard design and testing.
• Confidence in strategic decision-making.

Responsibilities

• Manage Underwriters to ensure compliance with credit policies.
• Develop and implement workflow management improvements.
• Support team growth and maintain service level adherence.

Skills

People management skills

Pragmatism

Attention to detail

Solution-oriented thinking

Communication

Problem-solving

Education

3 years experience in an equivalent role

Tools

Excel

Word

PowerPoint

Proposal Management System

Job description

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Job Description

Job Title: Underwriting, Review Booking and Funding Manager

Overview

Senior Underwriters role for a leading European bank owned consumer finance business.

We are keen to secure a dynamic, pragmatic, attentive, resilient, concise and solution driven manager with excellent people management skills. This role reports to the Credit Director and the postholder will have two direct reports; UW Manager and a PO Team Leader reporting to them.

The salary is £65k to £70k and is a permanent role. Benefits include company car/cash allowance, BUPA, Pension, Bonus and access to a rewards and recognition programme.

The role is contractually based in the office for 5 days but we offer a hybrid working policy of a 3 day Office and 2 day WFH split.

Purpose Summary

The main purpose of the role is to ensure the Underwriters and the Review, Booking and Funding team are working in accordance with UK policy rules and regulatory requirements, whilst maintaining Service Level Adherence targets. Supporting the development of both teams from an individual and a business growth perspective.

Principal Accountabilities

In conjunction with the Compliance Team, undertake statistically representative sampling (proposal reviews) of deals paid out

Manage Underwriters to ensure they are underwriting proposals in accordance with credit policy rules, retail portfolio quality and service level adherence targets

Pre-emptively reviews Underwriting work queues in accordance with agreed work queue status review targets; takes appropriate action to ensure team and individual

Underwriter adherence to (time bound) service level agreement and service level intention targets

Acts as escalation point for inbound dealer and Account Manager enquiry calls in the event they cannot be resolved by Underwriters

Ensures Credit Director is aware of potential issues associated with proposal backlog

Works with IT resource(s) and the IT vendor to develop business rules that underpin the Proposal Management System work queues

ensures Underwriters are sufficiently trained in the use of the Proposal Management System (Genus) and supporting business process

Works with the Management Information System Coordinator to develop department specific management information reports (content, format, frequency, distribution, timeframes) as and when required.

Undertake testing and tuning of the retail and commercial scorecards

Adhere to formal UK and regulatory processes and policies, including, but not limited to: KYC, AML, CONC, Affordability, Mental capacity and Vulnerability.

Review SLA adherence and performance reports (in conjunction with Credit Director)

When required, answers inbound dealer and Account Manager Enquiry calls.

IT Skills Profile

Excel; Intermediary level

Word: Intermediary level

PowerPoint: Intermediary level

Proposal Management System

Workflow management

Some practical experience in IT systems requirements gathering and documentation

Knowledge of Google Suite is advantageous

Person Specification

Assertive

Communicate with different audience types to reach mutual goals

Able to prioritise work load

Maintain professionalism in all aspects of communication

Self-driven, internally motivated

Proactive management of work queues, pay-out status, performance targets

Confidence in strategic and commercial decision-making

Communicates with different audience types to reach mutual goals

Able to manage and improve individual Underwriter and department performance

Welcome and participate in change

Able to foster a team based environment

Able to manage Dealer and Account Manager expectations; not easily swayed by Dealer or Account Manager emotional arguments

Able to remain calm until pressure/during stressful conversations (e.g., answering Dealer or Account Manager questions why is the proposal referred or declined?)

Adaptive; can adjust to rapidly changing business environment

Demonstrates sense of urgency in terms of meeting service and productivity targets

Adaptive; can adjust to rapidly changing business environment

Be a team player within the management team

Ability to identify service improvements and work with the Operations Director to apply authorised service improvements

Supports the business as a whole to deliver growth and other targets whilst adhering at all times to the overall compliance policy framework communicated within the business.

Ensures that all financial transactions are compliant and within operating mandates and policies by way of following business processes and agreed procedures

Work with Credit Director to develop resource plans and budgets Participate in department/ business projects to generate innovate ideas that add value.

Underwriting

To underwrite 80% of proposals within 30 minutes

Review, Booking and Funding

100% E-signed proposals worked within 2 hours

90% of other proposals if submitted by 2pm will be worked by 4.30pm of the same day

Knowledge, Experience, Qualifications

3 years experience in an equivalent role in financial services

Experience in the automotive or consumer finance industry is a plus

Practical experience with scorecard design and testing

Understands the commercial and risk implications associated with timely and accurate credit/ lending decisions, dealer satisfaction and compliance levels; is able to balance them to satisfaction

Thoroughly understands underwriting processes and procedures

To ensure best customer outcomes. Understands management information reporting (e.g., trends, what is behind the numbers, etc.); demonstrates numerate abilities

Confident in making appropriate underwriting decisions if required (e.g., reinforcing a decline decision if challenged by dealers and Account Managers)

Able to explain rationale for technical underwriting decisions to appropriate personnel

Able to manage tasks and individuals in a pressurised environment

Understands work flow and work queue management

Excellent documentation, writing and speaking skills

Excellent problem solving, communication, and organizational skills

Proven experience of process design and continuous improvement

Capable of undertaking quantitative and qualitative analysis; the ability to review metrics/financial ratios and supporting information and be able to understand what they mean for each proposal

Sees non-apparent relationships between data and information

Understand financial statements (balance sheets, income statements, cash flow)

Able to interpret data, extracting non apparent information when making lending decisions

Ability to operate, upon training, a credit decision and workflow management system

Good problem solving, communication, and organisational skills

Reporting

Reports to: Credit Director

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Insurance

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