Senior Credit Risk Underwriter

Welcome to Al Rayan Bank, the longest established and most successful Islamic bank in the UK.

Al Rayan Bank is an extraordinary and flourishing institution that celebrates diversity and values ethics. As a prominent member of the Masraf Al Rayan Group, one of the largest banks in Qatar, we are fueled by an unwavering ambition for excellence, promising you an exhilarating journey ahead.

At Al Rayan Bank, we embrace change as an opportunity for positive transformation. Currently, our focus lies on building a culture of inclusivity and diversity, creating an environment where every individual\’s unique perspectives are valued.

We understand the importance of work-life balance and flexibility, and we are committed to empowering our employees to thrive both personally and professionally.

The Bank is going through the most successful period in its history, and this success is a testament to the hard work, dedication, and expertise of our incredible team. Join us on this exciting venture, where you\’ll have the chance to make a significant impact while enjoying a supportive and rewarding work environment.

We have a fantastic opportunity for a Senior Credit Risk Underwriter at our London Office to work within the Credit Sanctioning department with principal responsibility for underwriting commercial real estate proposals for presentation to the Head of Credit Sanctioning and Credit Sanctioning Committee. This is a senior role within the Credit Sanctioning Team which will include reviewing proposals received from the CPF team, assessing their adherence to policy, and reviewing their merit against the Bank’s strategy, the risks, and mitigants.

Key Responsibilities

• Supporting the Head of Credit Sanctioning is key, with the expectation of deputising and presenting facility applications from a risk perspective to senior management and committees, fielding and responding appropriately to queries raised.
• To assess both new to bank proposals and existing facilities on a case-by-case basis, researching customer entities, analyzing the property, tenant covenant strength, cash flow, reviewing the ownership structure, where these include both onshore and offshore customers, and to understand their specific experience in relation to the application. Assessing the appropriateness of the security package, including the legal documentation proposed ensuring the Bank is adequately protected.
• While focus will be directed towards assessing proposals from the CPF Business Team, the ability to underwrite retail applications from GCC customers via our Premier Business colleagues would be required.
• Ultimately, new application proposals to be within mandate as set out in the Delegated Authorities framework, with Credit papers to be written to a high standard and in a timely manner, resulting in recommendations to be made to the Senior Credit Risk Underwriting Manager and Head of Credit Sanctioning before progressing to the sanctioning forums.
• Identify emerging risks to the bank, escalating and presenting such risks to the Head of Credit Sanctioning and recommending processes to mitigate and/or manage increased Credit Risk, including regular in-depth portfolio-based analysis and assurance to assess book performance.
• Support period reviews of the application process tools and forms, together with associated policies to ensure fit for purpose and aligned to company strategy.
• Adopt an approach of continuous improvement, improving outdated structures and implementing processes and procedures to improve operational efficiency and resilience.

Qualifications & Experience

• The role holder will be expected to have extensive experience and understanding of the London/South-East property market. Aligned to current bank appetite, it is expected that the role holder has underwriting experience of both the residential portfolio market sector and the commercial sector (mixed use properties, offices, retail parks, student accommodation, serviced apartments, hotels, warehousing and development finance). An understanding of wider UK regional property markets would be advantageous.
• Previous experience underwriting in the retail sector would be an advantage to be able to assess applications through the Premier channel.
• Detailed working knowledge of underwriting requirements including the ability to demonstrate assessing risks and mitigants and understanding the different real estate sectors, geographical variations.
• Knowledge of the suite of security documents included in real estate financing in order to ensure the Bank is adequately protected in financing arrangements.
• Ability to demonstrate the impact of economic changes on real estate financing, including an understanding of the interest environment and economic drivers.
• Ability to understand financial statements and accounts in order to forge a recommendation on the covenant strength of a tenant.
• It would be advantageous to have had experience of underwriting in a market downturn and having work-out recovery experience.

Knowledge & Skills

• A good working knowledge of the commercial mortgage sector.
• Detailed working understanding of deal execution to include a good level of understanding of loan agreements and supporting documents such as guarantees, inter-creditor agreements, legal charges, reports on title, environmental reports, etc. It would be advantageous for the successful candidate to have had experience of deal executions in a real estate lending environment.
• Good organization, presentation and analytical skills, with the ability to accurately collate credit papers for submission to the Senior Credit Risk Underwriting Manager and Head of Credit Sanctioning and ability to address specific questions raised by senior management concerning the details of a transaction.
• IT literate with good knowledge of Microsoft Office packages, particularly Excel and Word.
• Ability to prioritize effectively and work under your own initiative, under pressure and working to potentially tight deadlines.

You will be required to demonstrate our 1Team values and associated behaviours which are outlined below:

• Trusted to do the right thing

  To act with total integrity. Put the customer first and stick to our promises.

• Empowered to own

  To embrace change, take responsibility and ask for help when needed. To draw on each other’s strengths and believe in ‘no blame’ and ‘no egos’. Show resilience.

• Motivated to succeed

  To be passionate about our work. Look for opportunities to learn and grow and celebrate each other’s success.

Conduct

We expect staff to follow the standards required by our regulators. At all times:

• Act with integrity
• Act with due skill, care and diligence
• Be open and co-operative with regulators
• Pay due regard to the interests of customers and colleagues and treat them fairly
• Observe proper standards of market conduct

This is a fantastic opportunity to join our growing bank where we can offer exceptional opportunities for you to make your mark and progress your career in a diverse, ethical bank that you can actually believe in.

Empowering your career, together we’ll deliver banking you can believe in.

Competitive + Discretionary Bonus + Private Healthcare + 30 days holidays + 10% Contributory Pension

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