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- Tasks: Underwrite consumer loans and ensure compliance with company policies.
- Company: Join Loans 2 Go, a leader in affordable personal loans for underserved customers.
- Benefits: Enjoy hybrid work, performance bonuses, up to 33 days holiday, and professional development.
- Why this job: Be part of a dynamic team transforming the lending industry with a focus on fairness.
- Qualifications: Previous underwriting experience and strong analytical skills are essential.
- Other info: Flexible shifts required; work Monday to Saturday between 8am and 8pm.
The predicted salary is between 29512 - 36890 £ per year.
Company: Loans 2 Go Ltd
Role: Consumer Finance Underwriter
Salary: £29,512 to £36,890 pa, dependent on skills and experience
Location: Putney, SW15
Start Date: ASAP
Company Overview:
Loans 2 Go Limited (L2G) is an industry leader in providing alternative, affordable personal loans; we aim to give lines of credit to those who mainstream lenders have neglected. We are growing and adapting fast; with over 20 years of operation nationwide, we have helped hundreds of thousands of customers and the business has transformed from a traditional high-street lender to a multi-channel, online loan provider. We are regulated by the Financial Conduct Authority and fully compliant with our obligations under Consumer Duty. We understand the importance of providing fair and transparent products and services as the key to unlocking a prosperous future for the business. We will continue to adapt, improve, and implement changes where required to improve our people, the business, and the overall quality of our customer experience.
The Role:
The primary responsibility of this role is to underwrite and decision consumer loans in a sound, consistent and compliant manner and in accordance with the company’s loan policy and procedures.
Responsibilities:
- Analysing and evaluating borrower's financial information
- Recommending final loan decisions by evaluating proprietary decisioning tool outcome
- Collecting and interpreting documents such as borrower’s income and expenditure declaration, bank statements, payslips, tax returns etc
- Income & Expenditure assessment to determine affordability
Attributes and experience:
- Previous consumer finance underwriting experience
- Regulatory compliance knowledge
- Ability to calculate simple to complex mathematical equations
- Strong communication, analytical skills, and reasoning ability
- Excellent organisational skills with the ability to prioritise and handle multiple tasks and responsibilities simultaneously.
- Detail-oriented.
- Flexible, proactive working style
Employee Benefits:
- Hybrid Working Scheme
- Performance-based bonus
- Employee Referral Scheme
- Up to 33 days holiday inclusive of UK Bank Holidays
- Life Insurance Cover
- Incapacity Insurance Cover
- Employee Assistance Programme
- Commitment to your Professional Learning and Development
- Pension scheme
Timings:
40 hours per week, Monday to Saturday between 8am and 8pm. Shifts are assigned based on a rota. Flexibility with timings is required.
Consumer Finance Underwriter employer: Loans 2 Go Limited
Contact Detail:
Loans 2 Go Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Consumer Finance Underwriter
✨Tip Number 1
Familiarize yourself with the latest regulations and compliance standards in consumer finance. This knowledge will not only help you in the interview but also demonstrate your commitment to the role and the company's values.
✨Tip Number 2
Brush up on your analytical skills by practicing financial assessments and calculations. Being able to quickly and accurately evaluate a borrower's financial situation will set you apart from other candidates.
✨Tip Number 3
Showcase your communication skills by preparing to discuss how you would explain complex financial concepts to customers. This is crucial for ensuring that borrowers understand their options and responsibilities.
✨Tip Number 4
Be ready to discuss your experience with multi-tasking and prioritizing tasks in a fast-paced environment. Highlight specific examples where you've successfully managed multiple responsibilities, as this is key for the role.
We think you need these skills to ace Consumer Finance Underwriter
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Consumer Finance Underwriter position. Highlight key responsibilities and required skills, and think about how your experience aligns with them.
Tailor Your CV: Customize your CV to emphasize your previous consumer finance underwriting experience and any relevant regulatory compliance knowledge. Use specific examples that demonstrate your analytical skills and attention to detail.
Craft a Compelling Cover Letter: Write a cover letter that showcases your understanding of Loans 2 Go Ltd's mission and values. Explain why you are passionate about providing fair and transparent financial products and how your skills can contribute to their goals.
Proofread Your Application: Before submitting, carefully proofread your CV and cover letter for any spelling or grammatical errors. A polished application reflects your attention to detail and professionalism, which is crucial for this role.
How to prepare for a job interview at Loans 2 Go Limited
✨Show Your Analytical Skills
As a Consumer Finance Underwriter, you'll need to demonstrate strong analytical abilities. Be prepared to discuss your experience in evaluating financial information and how you approach decision-making processes.
✨Understand Regulatory Compliance
Familiarize yourself with the regulatory landscape surrounding consumer finance. Highlight any previous experience you have with compliance and how it has shaped your underwriting practices.
✨Prepare for Mathematical Questions
Since the role involves calculating affordability and analyzing financial data, brush up on your math skills. Be ready to solve simple to complex equations during the interview to showcase your proficiency.
✨Demonstrate Strong Communication Skills
Effective communication is key in this role. Prepare examples of how you've successfully communicated complex information to clients or colleagues, and be ready to discuss your approach to teamwork and collaboration.
