At a Glance
- Tasks: Review loan applications and ensure they meet credit policies.
- Company: Join a not-for-profit lender empowering entrepreneurs and driving economic growth.
- Benefits: Enjoy a competitive salary, company pension, and on-site parking.
- Other info: Full-time role with Monday to Friday shifts in a collaborative environment.
- Why this job: Be part of a mission-driven team making a real social impact.
- Qualifications: 2+ years in small business lending and strong financial analysis skills required.
The predicted salary is between 24000 - 28800 £ per year.
At First Enterprise, we’re committed to empowering communities and driving inclusive economic growth. As a not-for-profit business lender, we support entrepreneurs and small businesses that are often underserved by mainstream finance. With a strong focus on social impact, we provide tailored funding solutions, expert guidance, and a collaborative environment where innovation and ambition thrive.
Role Overview:
As a second approver within the Start Up Loans scheme, the Loan Underwriter / Assessor will be responsible for reviewing loan applications submitted by Business Advisors. This includes ensuring that each case meets the credit policy, and that all supporting information is accurate, relevant, and clearly presented. The role is critical in maintaining the integrity of lending decisions and supporting the delivery of responsible finance to startup businesses.
Key Responsibilities:
- Second-Level Assessment: Review loan applications submitted by Business Advisors to confirm alignment with credit policy and lending criteria.
- Quality Assurance: Validate that the information provided is complete, coherent, and relevant to the applicant’s business case, including KYC (Know Your Customer)
- Credit Analysis: Evaluate financial statements, forecasts, management background, industry trends, and cash flow to assess creditworthiness.
- Policy Compliance: Ensure strict adherence to credit policies and contribute to their ongoing review and improvement.
- Collaboration: Work closely with the Head of Credit to monitor performance and support risk management strategies.
- Continuous Improvement: Participate in the development of systems and processes to enhance operational efficiency and compliance with FCA standards.
- Professional Development: Engage in training and development activities to maintain high standards of underwriting practice.
- Minimum 2+ years of experience in small business lending (including startups).
- Strong understanding of credit assessment and financial analysis.
- Excellent written and verbal communication skills.
- High attention to detail and ability to interpret complex financial data.
- Proficiency in Microsoft Office (Excel, Word, Outlook) and Office 365.
- Experience in customer service and handling confidential information with discretion.
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Loan Underwriter / Assessor in Nottingham employer: First Enterprise
At First Enterprise, we pride ourselves on being an exceptional employer dedicated to fostering a collaborative and inclusive work culture. Our commitment to social impact not only empowers our employees but also provides them with meaningful opportunities for professional growth and development in the finance sector. Located in Nottingham, we offer competitive salaries, a supportive environment, and the chance to make a real difference in the lives of entrepreneurs and small businesses.
StudySmarter Expert Advice🤫
We think this is how you could land Loan Underwriter / Assessor in Nottingham
✨Tip Number 1
Familiarise yourself with the Start Up Loans scheme and its specific requirements. Understanding the nuances of this programme will help you demonstrate your knowledge during interviews and show that you're genuinely interested in the role.
✨Tip Number 2
Brush up on your credit assessment skills, particularly in relation to small business lending. Being able to discuss recent trends or challenges in the industry can set you apart from other candidates.
✨Tip Number 3
Network with professionals in the finance and lending sectors. Engaging with others in the field can provide valuable insights and potentially lead to referrals, increasing your chances of landing an interview.
✨Tip Number 4
Prepare for potential scenario-based questions during the interview. Think about how you would handle specific loan applications or assess creditworthiness, as this will showcase your practical understanding of the role.
We think you need these skills to ace Loan Underwriter / Assessor in Nottingham
Some tips for your application 🫡
Tailor Your CV:Make sure your CV highlights relevant experience in small business lending and credit assessment. Use specific examples that demonstrate your understanding of financial analysis and compliance with credit policies.
Craft a Compelling Cover Letter:Write a cover letter that showcases your passion for supporting entrepreneurs and your commitment to responsible finance. Mention your experience in reviewing loan applications and how it aligns with the role at First Enterprise.
Highlight Attention to Detail:In your application, emphasise your high attention to detail and ability to interpret complex financial data. Provide examples of how you've ensured accuracy and relevance in previous roles.
Showcase Communication Skills:Since excellent written and verbal communication skills are crucial for this role, include instances where you effectively communicated complex information to clients or colleagues, particularly in a financial context.
How to prepare for a job interview at First Enterprise
✨Understand the Role
Make sure you have a solid grasp of what a Loan Underwriter / Assessor does. Familiarise yourself with the responsibilities outlined in the job description, especially around credit assessment and policy compliance.
✨Prepare for Technical Questions
Expect questions related to financial analysis and credit assessment. Brush up on your knowledge of KYC processes and be ready to discuss how you would evaluate loan applications based on financial statements and forecasts.
✨Showcase Your Attention to Detail
Since this role requires high attention to detail, prepare examples from your past experience where your meticulousness made a difference. Highlight any instances where you identified errors or improved processes.
✨Demonstrate Communication Skills
As the role involves collaboration with Business Advisors and the Head of Credit, practice articulating your thoughts clearly. Be prepared to discuss how you would communicate complex financial information to non-financial stakeholders.
