Senior Credit Risk Underwriter

Job Title: Senior Credit Risk Underwriter

Location: Central London, Mayfair, Wimbledon, Putney, Clapham, Battersea, Fulham, Chelsea, Surbiton, Richmond, Hampton

Fulltime role, Hybrid working

Salary: £85,000 - £90,000 + Excellent benefits

Evolve Recruitment are seeking to recruit an experienced hands-on, Senior Credit Risk Underwriter to work within the Credit Sanctioning department with responsibility for underwriting commercial real estate proposals. The role will include assessing both new to Bank proposals and existing facilities, received from the CPF team assessing their adherence to policy and reviewing their merit against the Bank’s strategy, the risks and mitigants.The successful candidate will have proven experience within a similar role.

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, analysis of the property, tenant covenant strength, cashflow, 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.
• Whilst focus will be directed towards assessing proposals from the CPF Business Team, ability to underwrite retail applications from GCC customers via 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 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 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.

Knowledge & Skills

• 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.

You are required to be eligible to work in the UK full time without restriction. If you feel you have the relevant skills and experience required for this role, then please apply to Evolve Recruitment, Kingston upon Thames for more information. Due to the high volume of applications we receive it is not always possible to respond to unsuccessful applicants. Therefore, if we have not responded to your application within five days please assume that on this occasion your application has not been successful.