SENIOR UNDERWRITING MANAGER - SME LENDING
£90,000 - £130,000 (DOE) + Bonus + Car Allowance + Comprehensive Benefits
East Midlands (Head Office Based) | Relocation Support Available
The Opportunity
A fast-growing, FCA-authorised SME lender is seeking an experienced Senior Underwriting Manager to play a pivotal role in the continued expansion of its lending operations.
This is a senior leadership position within the underwriting function, reporting directly to the Head of Underwriting. The role will act as the operational and technical cornerstone of SME business loans underwriting, ensuring robust credit quality while supporting ambitious portfolio growth targets.
The focus of this role is firmly on SME business lending and commercial loans underwriting. It is not a purely asset finance role. The successful candidate will bring deep expertise in cashflow-based lending, structured SME facilities, and disciplined credit risk assessment across multiple sectors.
This is an opportunity to join a scaling lender at a critical stage of its development, where underwriting quality, consistency, and risk discipline are central to long-term success.
The Role
As Senior Underwriting Manager, you will:
Lead day-to-day underwriting activity across SME commercial lending products, including secured and unsecured business loans.
Underwrite and sanction complex or higher-value proposals within delegated authority.
Act as senior escalation point for complex credit cases involving nuanced cashflow, covenant structures, or sector-specific risk.
Assess full statutory accounts, management information, cashflow forecasts, and funding structures.
Structure facilities appropriately, balancing commercial opportunity with prudent risk mitigation.
Ensure underwriting standards remain consistent, disciplined, and aligned to defined credit appetite.
Contribute to the ongoing development and refinement of credit policy, underwriting frameworks, and risk controls.
Monitor portfolio trends, sector exposures, arrears performance, and concentration risk.
Work closely with Sales, Operations, Compliance and Collections to ensure strong lifecycle credit management.
Mentor and support underwriters within the team, strengthening technical capability and decision consistency.
Deputise for the Head of Underwriting where required and contribute to wider strategic credit discussions.
Deal sizes typically sit within the SME segment, including term loans, working capital facilities and structured lending solutions. Strong experience in cashflow-based lending is essential.
Candidate Profile
We are seeking a high-calibre, degree-educated credit professional with substantial experience in SME lending.
You will bring:
Significant underwriting experience within SME commercial lending and business loans.
Strong expertise in cashflow-based lending, unsecured lending, and structured SME facilities.
Advanced capability in analysing SME financial statements, management accounts, projections, and covenant performance.
Experience underwriting across multiple sectors with an appreciation of cyclical and sector-specific risks.
A clear understanding of portfolio risk, concentration exposure, credit appetite frameworks and capital protection.
Experience operating as a senior decision-maker within an FCA-regulated lending environment.
The ability to balance growth objectives with disciplined, risk-aware judgement.
Experience mentoring, coaching or informally leading other underwriters.
Strong written and verbal communication skills, with the confidence to challenge constructively where required. Degree education is strongly preferred, ideally in Finance, Economics, Business or a related discipline (or equivalent professional experience).
Exposure to asset finance is advantageous; however, this role requires demonstrable depth in SME business lending rather than purely asset-backed transactions.
Location & Working Environment
This role is based at the organisation's East Midlands headquarters.
The underwriting function operates within a collaborative, performance-focused environment where close interaction with sales, operations and senior leadership enables fast, high-quality credit decisions and disciplined portfolio management.
To attract leading national talent, relocation support is available. Applications are welcomed from experienced SME lending professionals currently operating within London, Manchester, Birmingham or other major UK financial centres who are seeking a senior leadership opportunity within a growing lender.
Package
£90,000 - £130,000 basic salary (dependent on experience)
Performance-related bonus
Car allowance
Comprehensive benefits package including pension and private medical cover
Relocation support (where applicable) This is a senior, high-impact credit leadership opportunity within a scaling SME lender, offering meaningful influence over underwriting standards, portfolio performance, and the continued evolution of a growing own-book lending platform.
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