The Underwriting Manager plans and leads the management of the underwriting team in support of the company’s overall strategy and business goals, including delivery and conversion of good quality loans.
Underwrite complex bridging & development loan applications within company lending criteria and within personal lending mandate. Ensure that regulatory rules and principles are adhered to, in full, throughout the processing of the application. Accurately assess the risk attributed to the application ensuring that the loan is both suitable and fit for purpose. Identify any potentially fraudulent activity and escalate any concerns to compliance. Communicate effectively with relevant third parties, building successful working relationships with solicitors and valuers. Have the confidence to approve/reject applications in line with policy and to clearly and positively communicate decisions. Follow and keep up to date with current best market practice. Take responsibility for policy and report to Board.
- Oversee the Underwriting Team in the management of multiple cases, ensuring quality outputs in both sales and customer service.
- Experience with Manual underwriting is essential as you will personally underwrite the more complex cases.
- Review the underwriters credit papers for submission to the Credit Committee for approval.
- Collate credit responses, suggest credit committee meetings where relevant and ensure all questions have been answered prior to completion.
- Refer lending decisions on facilities of a minimum of £150,000 and a maximum of £20 Million with service and speed being the key in this market at the same time as ensuring the interest of the company and the borrower is protected.
- Sign off all KYC requirements for a range of borrowers from UK individuals to corporate off shore structures and trusts and carry out credit bureaux searches.
- Review and approve all valuation reports and Loan Agreements and insurance documents
- Review and approve Reports on Titles, Inter-creditor deeds and specialist reports
- Making lending decisions on facilities of a minimum of £150,000 and a maximum of £20 Million with service and speed being the key in this market at the same time as ensuring the interest of the company and the borrower is protected by holding a personal mandate of X
- Ensure that all files are detailed to show full rationale and thought process, sign off the file pre-completion and authorise completion statements for funds release.
Senior Management Team:
- Lead regular team meetings to manage the pipeline effectively, and attend the monthly sales meetings.
- Manage the pipeline of deals for effective cash flow management.
- Check all cases prior to internal audits
- Attend monthly Senior Management meetings to ensure all departments work coherently together in all aspects of the company both pre, and post completion.
- Maintain responsibility for the management of the valuation, monitoring surveyor and solicitor panels.
- Monitor and administer the relevant underwriting system (ie Equifax, National Hunter, Risk Disk, Compliance Assist, Land Registry, Rightmove plus etc)
Planning and Organising:
- Maintain all documentation templates, but also suggest and amend existing documentation if appropriate including application forms, Heads of Terms, standard instructions, Loan Agreements etc.
- Plan and develop robust procedures, policies and guidelines as well as products by studying market trends and competition.
- Propose developments and enhancements to the lending policy and ensuring comprehensive up to date procedures/manuals are developed, evolved, documented and followed to ensure the business is developed in a controlled and measured way.
- Liaising with 3rd parties - borrowers, brokers, surveyors, and solicitors and funding lines in addition to working closely with the BDM’s to maximise sales opportunities.
- Meet regularly with our professional partners to maintain and improve relationships, source new partners in accordance with business needs.
Funding Line Management:
- Ensure efficient utilisation of multiple existing facilities both in terms of criteria, funding restrictions and profits.
- The management of new funding lines, including the production of mutually agreeable documentation, criteria and reporting.
Compliance, Fraud Prevention and Complaint Handling:
- Keep fully up to speed with all legislative changes.
- Reporting any suspicious activity to the relevant organisations
- Carrying out regular Data Protection, Money Laundering, KYC and TCF training
- Dealing with complaints with regarding loan decisions including rejections and reversals
Loan Book Management:
- Regular meetings with the Asset Managers with regards to development drawdowns, monthly servicing, redemptions, extensions and possible litigation action
- Analysing trends in arrears that need to be reflected in any criteria/ documentation alterations.
Coaching & Training:
- Manage the underwriting team, coaching and encouraging knowledge gain.
- Also deliver training and guidance to other colleagues on risk matters where appropriate.
- Carrying out regular performance reviews.
Reporting/ Data Analysis:
- Production of bi-weekly reports for team meetings
- Manage the accuracy of data on the internal systems (CRM) for reporting purposes.
- Monthly reports for the board
- Analysis of data to highlight necessary criteria/ product changes.