Buy-to-Let Underwriting Team Leader
What are we about?
LendInvest (www.lendinvest.com) is the UK’s leading online platform for property finance and investing. Since launching in 2008, LendInvest has lent over £1.5 billion ($1.9 billion) to help buy, build or renovate over 5,000 homes across the UK.
LendInvest uses technology to provide borrowers with short-term bridging finance, development finance and Buy-To-Let; and investors that include retail investors (in our London Stock Exchange listed bond), investors on our Online Investment Platform and some of the world’s largest financial institutions, with stable income secured against property.
LendInvest is still majority owned by the founders and staff of the business, but has also raised equity from the same investors that founded Skype, and early investors in financial technology businesses like Klarna, Stripe and SoFi.
This is a challenging and exciting leadership position whose key role is to manage a team of underwriters mortgage processors taking full responsibility for the processing, assessment and final approval of the unregulated Buy to Let applications that your team are responsible for. You’ll be have the opportunity to work with the Buy to Let manager to develop the team and recommend new processes and changes to Lending policy to both enhance risk management and offer a market leading service to clients.
As a Buy to Let Team Leader you must be able to demonstrate excellent knowledge of all aspects of BTL mortgage applications and the stated lending policy whilst taking a balanced view on the risk return equation. You will also require a good understanding of external audit processes and the requirements of funders.
Also you will need to demonstrate a sound understanding of the FCA and its operating principles including TCF and conduct risk ensuring that the underwriting team maintain focus on positive outcomes for the customer.
The role reports to the Buy to Let Manager.
What’s the team like
What matters to us most is understanding and solving our customers' needs. So you can expect a fast pace and varied challenges tackled in a collaborative atmosphere. Our team thrives in a friendly, relaxed and open culture, which allows people to share ideas across the business.
What you’ll be doing
- Managing/directing underwriting / process activity and priorities through ‘hands on’ management and MI. Assist the BTL Manager in taking clear steps to improve efficiency and processes to enhance client experience without diluting lending quality
- Setting own team member’s individual objectives and reviewing through formal review/appraisal process. Dealing pro-actively with poor performance and absence management
- Underwriting individual higher complex cases and others as required in accordance with personal mandate
- Auditing of team’s underwritten cases agreed under their individual underwriter mandates in accordance with agreed auditing levels. All audits to be fully documented and results fed back to underwriters and the BTL Manager.
- Support the BTL Manager regarding external audit visits and ensure pre file and data checks are carried out as appropriate.
- Ensuring that a minimum of 60% cases are approved within 14 days of valuation fee payment
- Recommending to the BTL Manager changes to Lendinvest Lending Policy and stakeholder in Financial Crime Policies. Own knowledge of these policies must be comprehensive and detailed
- Overseeing and dealing with initial broker/BDM leads according to SLA and dealing directly with broker as appropriate
- Ensuring full case approval/underwriting takes place according to SLA including lending rationales that are clear without recourse to the underwriter. All exception cases to be clearly recorded
- Support broker visits/relationships in conjunction with the BTL Manager
- Ensure a high standard of service / communication by underwriters when liaising with borrowers or brokers at case assessment by telephone.
- Establish and maintain a structured training plan for underwriters and support the development of case managers. This includes ensuring underwriters have completed their KYC annual training and fully understand their responsibilities regarding reporting etc
- Support the BTL Manager in production of Management Information and use the results to improve team performance
- Support and make recommendations for systems (IT-BEP) development
- Supporting and developing new/existing business relationships with brokers
- Coaching, mentoring and development of underwriters
- Other duties / projects that may be requested by the BTL Manager from time to time
What we’d need you to have
- Positive, resilient, confident and committed manager with the ability to engage and form strong relationships with both team members and key stakeholders
- Capable and experienced of dealing with a high volume workflow and prioritising accordingly for self and others
- Able to make quality lending judgements and present reasoned arguments to senior management when necessary
- Able to demonstrate an excellent understanding of:
- Credit Referencing Agency reports (personal and commercial)
- KYC/AML/financial crime regulation
- Application scoring
- Land Registry Reports
- RICS Valuations / AVMs
- Mortgage regulation and specifically MCOB/MCD
- Articulate with excellent written and verbal communication skills
- Understanding of Treating Customers Fairly (TCF) and Conduct Risk and ensuring both principles are key cultural aspects of how the job holder works
- Solid mortgage underwriting experience (in a specialist lender)
- Relevant line management experience
- Previous mandate min £500,000 (non scoring centric)
What we’d like you to have
- CeMap qualified (ideally)
What you’ll get in return
- Season Ticket Loan
- Vitality Health Insurance
- Matched pension contributions
- Discretionary share-option scheme
- 25 days holiday
- Enhance maternity/paternity pay
- Company eye tests
- Various other discounts/benefits via PerkBox
- Open bar from 5.30pm (4pm on Fridays)
- Cooked lunch on Friday's from a local restaurant
- A selection of breakfast cereals and fresh fruits and snacks are available each day