Commercial Underwriter

Location Durham
Contract Type Permanent
Hours Full time

We’re Atom

The bank that’s leading the fintech charge.

We’re not like the rest. We’re true innovators, and we’re redefining what a bank should be. Ours is a bank for today and the future, a mobile-first bank. Forget the stuffy branches, with Atom you can bank whenever, wherever, faster and simpler.

Based in Durham, we’re committed to bringing world-class career opportunities and developing a strong tech culture in the North East. Our team currently has over 400 brilliant people and is still growing; could you be the next innovator to join us?

We’re looking for mindful, empathetic and self-aware people to join our teams in Durham and London and help us innovate and disrupt the market with our cutting-edge, digital banking solution.

What’s it all about?

Operations is the beating heart of Atom. It’s where we have the most contact with our fantastic customers and where we can ensure we’re truly offering the best possible customer service. The Operations team consists of; Originations, Underwriting, Customer Support, Operational Effectiveness, Payments, Fraud, Reconciliations, Customer Administration, Customer Care and Financial Care.

Atom is a digital bank, on a journey to have a decision engine led, automation focused underwriting function across all types of lending. We’re there for Retail lending and on our way for Commercial. We’re currently focussed on lending via mortgage/commercial finance brokers but seeking to expand our lending distribution direct to customers.

The Underwriting team assesses residential mortgage and business banking secured loan applications, ensuring we are approving lending that sits within our policy guidelines and risk appetite, all the while offering open communication with our brokers/customers to provide the smoothest customer journey possible.
Underwriters work as part of the Underwriting team and whilst most will specialise and focus on either residential mortgage or commercial lending , some will support lending activity across all areas (including but not limited to residential mortgages, portfolio buy to lets, commercial property investment and trading business lending).

Our current vacancy requires someone with a strong background in business lending – either as an underwriter or credit manager, or as a relationship manager/director for commercial loans. The role holder will be responsible for reviewing and underwriting new lending applications, further advances and loan modifications, as well as dealing with business notifications and account reviews, in line with Atom lending criteria, procedures and controls, delivering balanced lending decisions in line with your mandated authority. A strong communicator, able to interact effectively both face to face, and via a range of digital channels (e.g. phone, email, live chat) with a variety of stakeholder; from brokers, to customers, valuers, conveyancers and all levels of internal stakeholders.

In line with development as an Underwriter within Atom bank, a lending mandate can progress to cover all types of lending (aligned to business need), and so a desire to keep learning is really important. At Atom, we’re here to change the future of banking for good so we’ll also depend on you to identify ways we can improve our processes, enhance automation (especially in decisioning), maximise broker and customer experience, improve controls and increase output.

What will your typical day look like? Different that’s for sure…

As a Commercial Underwriter at Atom, you will be responsible for;

Technical Capability: -

  • Underwriting business lending applications, further advances and loan modifications in line with Atom’s lending policy, ensuring the principles of conduct risk, responsible lending and all relevant regulatory principles (e.g. MCOB, KYB, KYC, AML) are observed, detailed loan serviceability assessments are complete and the principles of credit assessment are applied.
  • Operating within own personal lending mandate(s) and refer over mandate cases to appropriate mandate holders, or present to Credit Committee as required.
  • Ensuring all correspondence, including identification, financial accounts, ALIE documents, references and valuations, are in line with lending policy and provide enough evidence to satisfy KYC, KYB and AML requirements.
  • Ensuring all applications are complete, with accurate data input to ensure that manual/automated decisioning and record keeping is correct. Full rationale for your lending decision must also documented on the lending system.
  • Reviewing and interpreting valuation reports and effectively raise and deal with post valuation queries.

Delivering quality: -

  • Managing own caseload, handle underwriting queries and resolve issues on individual cases ensuring effective and timely processing in line with the relevant lending policy, procedures and service level expectations.
  • Ensuring personal and team KPIs are met (including decision quality, customer satisfaction, regulatory compliance and continuous improvement).
  • Acting fairly, reasonably and with integrity in all dealings with customers, intermediaries, valuers and related 3rd parties (including valuers and solicitors).
  • Communicate positively, proactively and effectively with customers, intermediaries and related 3rd parties to gather information to make appropriate decisions, explain rationale behind lending decisions and ensure that productive working relationships are maintained.
  • Working effectively with colleagues from within the Underwriting, Risk, Propositions and other associated teams ensuring that the working relationships improve credit quality and minimise decision appeals (getting it right first time).

Continually improving: -

  • Identifying potential improvements to underwriting systems, policies, criteria and processes.
  • Remaining up to date with knowledge by reading professional publications, participating in professional organisations and maintaining personal networks.
  • Management of own performance; and demonstrate proactivity in identifying and closing skills/ knowledge gaps.
  • Maintaining a thorough knowledge of all systems and procedures within the department to provide guidance and improve / update to ensure they are fit for purpose at all times.
  • Undertaking ad hoc work as directed by line manager from time to time.

What do we need from you?

  • Considerable experience in business lending
  • Held a business lending mandate with delegated authority to approve outside lending policy applications
  • Able to demonstrate a strong and consistent track record of adherence to quality metrics in current role
  • Demonstrates a full understanding of the principles of Responsible Lending and Conduct Risk
  • Has a detailed understanding of KYB, KYC, AML and compliance related rules and regulations, commercial fraud and the measures/systems in place to avoid
  • Holds a good understanding of the intermediated lending market
  • Is familiar with commercial and consumer credit bureau data and its interpretation
  • Is familiar with, and able to apply, relevant lending law and practice
  • Demonstrates strong verbal and non-verbal communication skills
  • Is a go-getter - proactive, hardworking, flexible and able to work under own initiative
  • Confident, assertive and pragmatic approach with ability to exercise judgement and discretion where appropriate
  • Experience working in a dynamic, fast paced and customer centric environment

What would we ideally like from you?

  • Prior experience/knowledge of underwriting unsecured lending
  • Prior experience/knowledge of residential mortgage underwriting
  • Flexible and agile with ability to multitask
  • Higher education qualifications
  • Appropriate professional qualifications

What you’ll get from us?

  • Competitive Salary
  • Annual Share Option – performance related
  • Incredibly generous company pension scheme (maximum of 13% of Atom input – candidate can put in more)
  • ‘All About Me’ fund: £200 per year to spend on personal development
  • 25 days holiday + 8 statutory days (rising by half a day with every year in the company)
  • Private Medical Insurance for you and full family
  • Health Cash Plan – expenses paid on Optical/Dental/other appointments/treatments
  • Life Insurance – 4 times annual salary
  • Critical illness cover – 1 x lump sum annual salary
  • Cycle to work Scheme
  • Continuous development – professional qualifications
  • Challenging and exciting working environment

PLEASE NOTE: You must have the legal right to work in the UK to apply for this role as Atom bank are unable to support Visa Applications/Sponsorship.

All roles within Atom must adhere to the Conduct Rules as set out by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).