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Head of Credit (Underwriting)



"Play a pivotal role in the development of our client's underwriting function and make a genuine difference to the future of business lending for SMEs".

c. £75-125,000 (dependent on experience) plus car allowance, bonus, and benefits, including relocation package where required.

East Midlands - Hybrid Working &/or Relocation Package Available 

Are you currently a Senior Underwriter or a Head of Credit in an asset finance or commercial finance company?

Maybe you've had enough of the high cost of living and daily commute and want a new challenge in a more affordable location which offers you a better work life balance whilst still maintaining the fast-track career development that you have enjoyed to date. If so, this could be the perfect opportunity for you to continue your professional development in a dynamic, fast-growth and entrepreneurial company in a senior leadership role, whilst enjoying the benefits of working outside the major cities.

Our client is one of the largest hybrid asset finance broker-lenders in the United Kingdom and is rapidly expanding its own-book lending operations. As such, they have created this new position of Head of Credit to oversee and take ownership for the continued growth of their underwriting operations and own-book lending.

Our client's business has previously been focussed primarily on broking activities, but as part of their strategic growth plans, they have ambitious targets to accelerate own-book lending. They have a solid track record in own-book lending already, having done so for over 10 years, but see a strategic opportunity coming out of the Covid pandemic to accelerate and drive this side of the business forward substantially. Our client is, of course, full authorised by the FCA for both regulated broking and lending activities.

And that's where you come in.

They want your significant experience and knowledge of hard and soft-asset underwriting to grow and lead this department, delivering a mid-ticket underwrite on small-ticket asset finance deals. They are also looking for someone with the experience and abilities to recruit and grow a team of underwriters, drive forward the firm's credit policy, assist with Block's and Block Discount Lender audits, liaise with the collections and end of lease team, and report directly to the board monthly as to the performance of the book.

A typical asset finance deal for our client is c. £40-50k, and they want to offer the quickest decision times possible for the multitude of proposals they handle/receive each day. To that end, there would be an element of flow underwriting as you will be expected to identify and pick-out own-book deals from the multitude of proposals which will be flowing out daily to external lenders. They work with businesses to finance assets from £10,000 to £2,000,000 across an extensive range of sectors, including beauty, transport, engineering, fitness, equipment, catering, brewing, healthcare, retail, technology, leisure, photography, manufacturing, farming, fitness, construction, and equipment.

Our client also has a short-term loans business, where the typical deal is c. £25,000, offering finance from 3-12 months on an unsecured basis. As such, whilst not as essential or relevant as asset finance underwriting experience, you will need to be comfortable in underwriting such small-ticket unsecured commercial loans and prior experience would be welcome.

Our client has helped businesses secure almost £1 billion of finance since their founding in 2007 and brokered or lent directly on more than a quarter of a billion pounds of finance in 2021 alone. Based out of the East Midlands, they work with businesses from the start-up stage to an established enterprise offering access to a range of asset financing products (LF, HP and RE).

They have been through a period of change during the past few years. As a result, they have a brand-new, high calibre leadership team, including a new Director of Operations, Marketing Director and Head of Compliance with extensive industry experience, who you will work alongside to ensure the highest standards are applied to every deal.

In return our client offers a very competitive salary and benefits package including bonus, car allowance, gym membership, winter or summer company retreats and the opportunity to make your mark in a truly meritocratic and dynamic growth business that is really going places.

As you can imagine, there are many other details to discuss, so please indicate your interest by emailing your CV, quoting reference LX 883686