Nucleus Commercial Finance was founded in 2011 to provide UK SMEs with alternative funding options. No bureaucracy, no rigidity: we provide growing companies with the finance they need to flourish. Our specialists have substantial banking and investment experience. As such, we understand how to structure long-term funding that help businesses grow.
At Nucleus, we combine the stability of bank finance with the flexibility and speed of P2P platforms. We’re completely transparent and won’t mask hidden costs with low interest rates. We are an exciting expanding company set on growth and maximising our potential to become an exceptional key partner in business.
We are looking for an experienced and talented Risk Underwriter for our Merchant Cash Advance product. The Risk Underwriter will be responsible for maintaining and updating risk management policies and procedures in line with business requirements whilst adhering to regulations and standards.
Reporting to: Risk Manager
MAIN DUTIES AND RESPONSIBILITIES ARE (BUT NOT LIMITED TO):
- Review credit reports and background reports to determine degree of risk involved with providing merchant cash advance.
- Analyse business bank statements, merchant card processing statements, HMRC (VAT & PAYE) and all financial information.
- Approve or decline merchants according to specific criteria and stipulations.
- Structure deal pricing based on identified risk profile.
- Conduct final due diligence (incl. additional research and merchant interview) on all signed financing contracts and recommend approval for funding.
- Research and collate appropriate information to make a credit decision and keep appropriate records relating to information received and decisions made.
- Liaise with internal and external personnel to gain extra/appropriate information or to discuss applications where necessary. Provide regular information on application statuses and work load.
- Interview small business owners, landlords / trade references, and review site inspections.
- Identify and research any inconsistencies with the application to identify potential fraud.
- Actively contribute suggestions and influence improvements in relation to the BCA processes and working practices. Ensure you are compliant with the Nucleus Risk Policies and Guidelines.
- To work within the level of risk the business is prepared to accept.
- To assist in developing the business Continuity plans to limit risks and preparation for if things go wrong.
- In liaison with L&D/HR, continuously review, revise, train and assess the knowledge of all staff, ensuring compliance through the adequate understanding and application of policies including but not limited to anti-bribery, anti-money laundering, conflicts of interest, complaints, treating customers fairly and whistleblowing in order to build risk awareness within the business.
WHAT EXPERIENCE DO YOU NEED FOR THIS ROLE?
- At least 1-2 years’ experience in merchant cash advance, risk environment & strong decision-making ability
- Understanding of financial statements and principles of lending
- Educated to degree/postgraduate level in a relevant program preferable
- Strong interpersonal, written and oral communication, negotiation & conflict resolution skills
- Self-motivated with excellent organisational and time management skills
- Intermediate user of Excel, Project and Risk Management Software’s/CRM