South East / Hybrid
Underwriting, Review Booking and Funding Manager
£65,000 - £70,000 plus benefits
Ref: VR 01574 - South East / Hybrid - £65,000 - £70,000 plus benefits
Job type:
permanent
This role is classified as a Certified Function under the Senior Managers & Certification Regime.
The main purpose of the role is to ensure the Underwriter’s and the Review, Booking and Funding team are working in accordance with the business 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 (Genus) 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:
• Diligence; able to pay attention to detail
• 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 to the business offering.
SLAs
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 dealer and regulatory agency satisfaction
• Thoroughly understands underwriting processes and procedures
• To be an advocate of the TCF principles and 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 CRA 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