At a Glance
- Tasks: Make lending decisions and assess loan applications to help clients access fair financial services.
- Company: Join Fair Finance, a social business transforming the financial landscape for the better.
- Benefits: Enjoy a birthday day off, WFH allowance, private health insurance, and discounts through Perkbox.
- Other info: Fast-paced environment with opportunities for personal and professional growth.
- Why this job: Be part of a mission-driven team making a real difference in people's lives.
- Qualifications: Experience in regulated financial services and strong analytical skills are essential.
The predicted salary is between 30000 - 40000 £ per year.
Location: Based in our Dalston office with flexibility to WFH
Reporting to: Underwriting Team Leader
Contract: Permanent, full-time (you may be required to work up to 2 Saturdays per month)
About Fair Finance
Fair Finance is a social business with ambitious plans to revolutionise financial services to give everyone a fair chance. Our vision is to scale our alternative to the high‑cost lending market and help reduce financial exclusion across the UK. Over the last twenty years Fair Finance has helped over a hundred thousand people escape the clutches of high‑cost money lenders, start businesses or avoid eviction. Our work has helped influence Government policy and legislation, as well as demonstrate how purpose and profit can work together to change the financial system for the better.
About The Role
We are looking for a Loan Underwriter with experience of working in a regulated financial services organisation. The successful candidate will want to work in a fast‑paced environment in the non‑profit sector and make a difference to our clients. The Underwriter will be responsible for making lending decisions directly and autonomously, assessing personal loan applications coming from our clients. Their primary goal will be to ensure that we lend responsibly and affordably to our clients. The successful candidate will join a team of skilled underwriters from whom they’ll be able to learn. This is a challenging role which requires good organisational skills and the ability to analyse large amounts of data. The role will give you the opportunity to work in a social business that puts clients before profits and is focused on making a difference for individuals who lack access to fair financial services.
About You
You will be eager to work for a changemaking organisation to help those who are excluded by traditional lenders. You will bring your experience working in a regulated financial services organisation and ability to analyse complex information to contribute to the underwriting team. You will have an advantage when applying for this position if you have experience in underwriting, loan administration or client management. You will have high attention to detail as well as demonstrating accountability, diligence and integrity at all times. You will also have a high level of computer literacy and the ability to work across several systems.
Key Responsibilities
- Review financial information and documents and assess them against our policies and procedures.
- As necessary, discuss with clients to better understand their financial situation and ensure that we are lending fairly and responsibly.
- Make recommendations or direct lending decisions, depending on training and experience.
- Work towards achieving our business targets, both in terms of quantity but also quality and compliance.
- Provide clients with prompt and clear information about their application and support them to complete their application.
- Ensure that all loan decisions are compliant and meet our responsible lending criteria.
- Keep up to date with changing policies and procedures.
- Any other duties as required by the Company that are commensurate with the position.
Skills and Experience
- A desire to work in the non‑profit sector and make a difference for our clients.
- A desire to work in a fast‑paced environment and bring your energy and passion to our team.
- Experience of working in a regulated financial services organisation, ideally in an underwriting role, loan administration or client management.
- The ability to analyse complex information.
- High attention to detail.
- Demonstrate accountability, diligence and integrity at all times.
- A high level of computer literacy and the ability to work across several systems.
This job description may be amended from time to time to reflect the changing needs of the business.
Employee Benefits
- An additional paid day off for your birthday.
- Staff receive an additional 'WFH allowance' to allow even greater location flexibility.
- Private Health Insurance.
- Perkbox access for a wide range of discounts.
- Employee Assistance Programme (EAP).
- 3% matching contribution towards a stakeholder pension.
Loan Underwriter employer: Fair Finance
Fair Finance is an exceptional employer dedicated to transforming financial services for the better, offering a unique opportunity to work in a social business that prioritises client welfare over profit. Located in Dalston with flexible work-from-home options, employees benefit from a supportive work culture that fosters personal and professional growth, alongside perks such as additional paid leave for birthdays, private health insurance, and a pension contribution scheme. Joining Fair Finance means being part of a passionate team committed to making a meaningful impact in the lives of those facing financial exclusion.
StudySmarter Expert Advice🤫
We think this is how you could land Loan Underwriter
✨Tip Number 1
Network like a pro! Reach out to people in the financial services sector, especially those who work in underwriting. A friendly chat can lead to insider info about job openings or even a referral.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of responsible lending practices. Be ready to discuss how you would assess loan applications and make decisions that align with Fair Finance's mission.
✨Tip Number 3
Show your passion for making a difference! When you get the chance to speak with potential employers, share why you want to work in the non-profit sector and how you can contribute to their goals.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, it shows you're serious about joining the team at Fair Finance.
We think you need these skills to ace Loan Underwriter
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Loan Underwriter role. Highlight your experience in regulated financial services and any relevant skills that match the job description. We want to see how you can bring your unique background to our team!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about working in the non-profit sector and how you can contribute to Fair Finance's mission. Let us know what makes you tick and why you’re the perfect fit for this role.
Showcase Your Analytical Skills:Since the role involves analysing complex information, make sure to provide examples of how you've successfully done this in the past. We love seeing candidates who can demonstrate their attention to detail and analytical prowess!
Apply Through Our Website:We encourage you to apply through our website for a smoother application process. It’s the best way for us to receive your application and ensures you don’t miss out on any important updates from our team!
How to prepare for a job interview at Fair Finance
✨Know Your Numbers
As a Loan Underwriter, you'll be dealing with financial information all day. Brush up on your numerical skills and be prepared to discuss how you analyse financial data. Familiarise yourself with common financial ratios and lending criteria that Fair Finance might use.
✨Understand the Mission
Fair Finance is all about making a difference in people's lives. Make sure you understand their mission and values. Be ready to share why you want to work in the non-profit sector and how you can contribute to their goal of reducing financial exclusion.
✨Prepare for Scenario Questions
Expect questions that assess your decision-making skills. Think of examples from your past experience where you've had to make tough lending decisions or manage client relationships. Use the STAR method (Situation, Task, Action, Result) to structure your answers.
✨Showcase Your Attention to Detail
In underwriting, every detail matters. During the interview, highlight your organisational skills and attention to detail. You might even want to bring along a sample of your work or a case study that demonstrates your ability to analyse complex information accurately.
