What are the responsibilities and job description for the Junior Underwriter position at AB Hires and Consulting?
A data and tech driven SBM revenue based financing company, based out of Cedarhurst that is committed to providing their clients with superior financial solutions and have built their reputation on innovation and dynamism is seeking a detail-oriented and analytical Junior Underwriter to join their team! The Junior Underwriter plays a key role in supporting the underwriting process by evaluating the creditworthiness of businesses applying for funding. This position involves reviewing financial statements, assessing risk, and working closely with senior underwriters to make informed decisions. The ideal candidate is detail-oriented, analytical, and eager to learn the intricacies of underwriting in the cash advance industry. This role offers potential for commissions and bonuses based on performance.
Responsibilities:
- Merchant Cash Advance (MCA) Underwriting: Assist in evaluating MCA applications by analyzing financial statements, credit reports, and other relevant data to assess the creditworthiness of potential clients.
- Risk Assessment: Support senior underwriters in identifying potential risks associated with funding applications and help determine appropriate funding terms.
- Collaboration with Junior Underwriters: Work closely with other junior underwriters to ensure consistency in the underwriting process and to share insights and best practices.
- Documentation Review: Review and verify the accuracy and completeness of documentation provided by applicants, ensuring all necessary information is obtained for the underwriting process.
- Data Entry: Accurately enter and update client information and financial data in the underwriting system.
- Communication: Communicate with clients, brokers, and internal teams to gather additional information and clarify any discrepancies in applications.
- Report Preparation: Assist in preparing underwriting reports and summaries for review by senior underwriters and management.
- Compliance: Ensure all underwriting processes adhere to company policies and relevant regulatory requirements.
- Continuous Learning: Stay up-to-date with industry trends, underwriting guidelines, and best practices to enhance underwriting skills and knowledge.
- Support Senior Underwriters: Provide general support to senior underwriters in managing their portfolios and processing funding applications.
- Other Duties as Assigned: Perform additional tasks as required to support the underwriting team and overall business objectives.
Qualifications:
- Education: Bachelor’s degree in Finance, Business Administration, Economics, or a related field.
- Experience: 1-2 years of experience in Merchant Cash Advance (MCA) underwriting or a related financial services role.
- Technical Skills: Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint). Familiarity with underwriting software and financial analysis tools is a plus.
- Analytical Skills: Strong analytical skills with the ability to interpret financial data and assess risk accurately.
- Attention to Detail: Exceptional attention to detail, ensuring accuracy and thoroughness in all tasks.
- Communication Skills: Excellent verbal and written communication skills, with the ability to interact professionally with clients and team members.
- Organizational Skills: Strong organizational and time-management skills, with the ability to handle multiple tasks and deadlines.
- Team Collaboration: Ability to work collaboratively with other junior underwriters and contribute to a team-oriented environment.
- Willingness to Learn: Eagerness to learn and develop skills in underwriting and credit analysis.
