Job Summary:
Coordinate with staff and external stakeholders to ensure business operations run in accordance with the firms’ processes and policies. The role is wide-ranging and encompasses various operational actions associated with the operation of an electronic lending platform, particularly new loan applications, underwriting, default, forbearance, and communications.
* Reporting to: Head of Compliance
* Department: Operations
* Typical Hours of Work: 20-40 hrs per week
Key duties:
* Leading the operations team to ensure business operations run efficiently
* Reviewing the security on new loan applications to ensure they meet our requirements
* Leading the Recovery Department, which handles the late payment processes, forbearance, and enforcement of defaulted loans
* Writing and delivering board reports on the Operations Department and Recovery Department performance
* Supporting the growth of the business through identifying and implementing operations process improvements
* Advise the support team on communication strategies to lenders
* Developing innovations, recording data, optimising processes, analysing results, and assisting with all strategic developments in the team
* Building relationships with stakeholders through regular contact to identify, validate, understand, and resolve breaches of agreements
* Overseeing operations processes to ensure they are completed with due skill and care and in accordance with the company’s compliance processes
Daily Tasks:
* Security Underwriting review for new applications – (Loan Approval and Security Assessment)
* Liaising with applicants regarding the status of their loan application
* Liaising with the Credit Risk Committee and Forensic Accountant to reach a prompt decision on new loan applications
* Preparing approved loans to go live on the site
* Drafting the completion documents and handling the loan completion process for new loans
* Registering debenture forms for new completions at Companies House
* Registering property charges for new completions with the Land Registry
* Periodically reviewing the legal templates and loan agreement to ensure they are up to date and meet the business needs
* Fielding queries from the Finance Team to ensure payment distributions are correct
* Instructing, liaising, and monitoring Corporate and Commercial, our external credit control agents, regarding the daily list of overdue loan payments
* Instructing, liaising, and monitoring with our solicitors regarding legal recovery action on loans in default
* Drafting and sending communications to lenders regarding our recovery actions on defaulted loans
* Case handling the early arrears portfolio, with the aim of recovering the payment due or negotiating and adjusting the loan terms to suit debtor circumstances and affordability
* Handling inbound and initiating outbound telephone calls, letters, and emails with lenders and borrowers with care, accuracy, and communication skills
* Updating databases and systems in order to keep an accurate record of activities, observations, and outcomes within the operations department
* Monitor the current loan book using third-party credit reference agencies to spot and resolve potential new payment risks
* Answer support tickets on OST assigned to the ops team
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