Junior Underwriter
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About The Position
A data and tech-driven SBM revenue-based financing company, based out of Cedarhurst, is committed to providing their clients with superior financial solutions and has built their reputation on innovation and dynamism. They are 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. The Junior Underwriter will assist in evaluating Merchant Cash Advance (MCA) applications by analyzing financial statements, credit reports, and other relevant data to assess the creditworthiness of potential clients. They will support senior underwriters in identifying potential risks associated with funding applications and help determine appropriate funding terms. Collaboration with other junior underwriters is essential to ensure consistency in the underwriting process and to share insights and best practices. The role also involves reviewing and verifying the accuracy and completeness of documentation provided by applicants, ensuring all necessary information is obtained for the underwriting process. Additionally, the Junior Underwriter will accurately enter and update client information and financial data in the underwriting system, communicate with clients, brokers, and internal teams to gather additional information and clarify any discrepancies in applications, and assist in preparing underwriting reports and summaries for review by senior underwriters and management. Compliance with company policies and relevant regulatory requirements is crucial, as is the commitment to continuous learning to stay up-to-date with industry trends, underwriting guidelines, and best practices. The Junior Underwriter will also provide general support to senior underwriters in managing their portfolios and processing funding applications, along with performing additional tasks as required to support the underwriting team and overall business objectives.
