Head of Underwriting - Cashflow FinanceExperience Level: Executive Level | Posted Date: 14/04/2025
About Allica Bank
Allica is the UK’s fastest growing company - and the fastest-growing financial technology (Fintech) firm ever. Our purpose is to help established SMEs, one of the last major underserved opportunities in Fintech.
Established SMEs are the backbone of local communities - representing over a third of our economy - yet have been largely neglected both by traditional high street banks and modern fintech providers.
Having already achieved significant success in the commercial mortgage and asset finance markets, Allica launched an innovative new Growth Finance product in 2023. This delivers working capital funding with facility sizes between £1m-£10m and is principally an asset-based lending product.
We now plan to expand our product capability with the launch of a cashflow finance solution which will meet the funding needs of growing established, profitable businesses who do not have tangible collateral available to offer in support.
We intend to build a small team of specialists who will be instrumental in bringing the cashflow product to life alongside colleagues in other functional areas of the bank.
The Head of Underwriting will initially be instrumental in the development of the credit policies, appetite and underwriting processes for the product.
Thereafter, the role will be responsible for underwriting applications and working with distribution colleagues to shape the product as we launch into the market.
The role will also be responsible for defining appetite and guidance for the in-life management of cashflow loans, and work with colleagues across functions to implement suitable processes to manage the portfolio risk post origination.
Finally, the role will work closely with colleagues in the Collections and Recoveries team from time to time, on any workout cases involving cashflow loans.
Using knowledge of the product and associated risks, contribute to the design and delivery of a cashflow funding product that meets the needs of an underserved borrower population. In particular, own the development of the credit policy, appetite and procedures for the product.
Underwrite new and top up cashflow funding facilities, supporting origination and structuring.
Make decisions within your personal delegated lending authority.
Provide recommendations to senior management and Credit Committee where the facility is outside your delegated authority.
Work closely with the relevant distribution colleagues to help structure deals by balancing customer requirements and bank considerations.
Build out appetite and guidelines for managing the facilities through their life.
At facility level (via covenants and conditions) but more generally, for the product, agree approach to in-life monitoring to deliver good portfolio performance.
Work closely with distribution colleagues to support facility level in-life actions required to be taken to support customer requests as well as manage bank risk.
Where required, work closely with colleagues in the Collections & Recoveries area to support any workout cases, bringing knowledge of specific clients and the product to bear.
Once the product is ready for scaling after an initial build phase, work with the product function to build suitable data and automation functionality, especially for ongoing monitoring of the facilities.
This role will be a standalone role to start. But as the portfolio grows, and depending on the level of automation delivered, the role maybe responsible for building out a small team of underwriters (from within the wider team or the market) to support further growth.
Be an advocate for the product with colleagues throughout the bank.
Comply with all mandatory policies and develop and adhere to operational procedures to maintain a strong internal control environment.
A belief that there is an opportunity to build a significantly improved cashflow lending solution to the target SME market and a desire to innovate through a hands-on approach, working as part of a small team. Initiative and resilience will be key personal attributes.
Deep experience in underwriting and managing non-tangibly secured £1m-£10m cashflow lending facilities for SMEs, gained in a bank or a direct lender.
Demonstrable experience of underwriting quality risk at scale and managing the performance of facilities of this type in the target segment.
‘Can-do’ mindset to find solutions that balance customer need and bank risk appropriately.
Excellent interpersonal and communication skills and the ability to build and maintain strong working relationships.
Strong organisational skills and attention to detail.
#LI-AD1
Working at Allica Bank
At Allica Bank we want to ensure our employees have the right tools and environment in which to succeed in their role and in support of our customers.
Our employees are at the heart of everything we do, so our benefits are designed with you in mind:
Full onboarding support and continued development opportunities
Options for flexible working
Regular social activities
Pension contributions
Discretionary bonus scheme
Private health cover
Life assurance
Family friendly policies including enhanced Maternity & Paternity leave
Don’t tick every box?
Don’t worry if you don’t have all the skills or requirements listed on the job description. If you think you’ll be a good fit, we’d still love to hear from you!
Flexible working
We know the ‘9-to-5’ isn’t right for everyone. That’s why Allica Bank is fully committed to flexible and hybrid working. Please let us know what is best for you and, if we can, we will do our best to accommodate.
Diversity
We’re a diverse bunch here at Allica, with all kinds of experiences, backgrounds and lifestyles. Our openness and differences make us stronger, and we want everybody to feel comfortable bringing as much of themselves to work with them as they like.