Octopus Lifestyles, a new business within the Octopus Group, plans to generate £1bn loans-per year from scratch by extending innovative lifetime mortgage products through a network of financial advisers to affluent older customers, allowing them to use the value of their homes to finance their late life needs in a tax efficient and easy way. We are currently live and distributing our first three products with a wider launch, backed by institutional capital, planned for September 2017. The aim is to extend c£100m of loans within the first 12 months and to reach £1bn loans per year in five years.
Success for this role will require taking best practice from the Octopus Property Credit (underwriting) team and applying it pragmatically to suit the Octopus Lifestyles business strategy and risk appetite. It will require creative problem solving to leverage industry expertise but bring a fresh perspective as to how we can do things better rather than defaulting to copy how they are.
The team has been building nimbly and efficiently though the early stages of the first few customer and is now looking to augment the founding team rapidly over the coming months.
About the role
We are a small team building a start-up business with an ambitious roll-out plan over the coming months. Reporting to the Lifetime Mortgage Operations Manager, and as a key member of the Lifestyles team, you will be responsible for ensuring that the properties over which loans are secured are appropriate and in line with the agreed lending criteria at the same time constantly looking for ways to meet customer needs and develop the criteria to achieve that goal.
Key accountabilities of the role are:
• Underwrite in accordance with the lending criteria
• Abilty to identify risks and mitigants, providing clear reccommendations for the business on the potfolio
• Constantly identify how we can improve the underwriting experience for the customer and expedite the underwriting process, while maintaining rigorous standards.
• Identify trends and monitor requests for exceptions with appropriate sign offs obtained when permitted
• Liaise with surveyors to ensure a thorough understanding of each valuation for new business and ongoing service
• To achieve targets and work as part of a team to fulfil client service level agreement (SLAs)
To be successful you will need to demonstrate that you …
• Have a proven knowledge of the UK property market, in particular construction types and regional factors that affect value and saleability
• Have relevant experience of working in an underwriting environment at a senior level for a min. 10 years
• Have experience of working successfully in a fast paced business; ideally a startup or business going through significant growth or change
Specifically, you will …
• Be a team player with can do attitude
• Be Confident with technology with relevant software experience i.e. Microsoft Office
• Must be curious and seek to instil automated and digital solutions wherever appropriate
• Must be comfortable in using technology and leveraging digital applications and media platforms
Be well organised, methodical, flexible and adaptable to changing needs
• Think creatively about how to do things better
• Be able to work with minimum supervision and prioritise workload
• Have a high level of attention to detail reacting quickly when needed to make decisions
• Be able to research and collate data to support underwriting decisions and keep abreast of changes in the market
• Show integrity at all times, and empathise with your colleagues and customers
• Treat others as you would expect to be treated
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