Underwriter / Credit Appraiser

Job Description: Underwriter/Credit Appraiser

Job Overview:

The Credit Appraiser is responsible for evaluating the creditworthiness of individuals, businesses, or other entities seeking loans, credit, or financial services. The role involves analyzing financial documents, assessing risk factors, and making informed decisions about whether to approve or deny credit applications. The Credit Appraiser ensures that the organization’s credit policies and risk management strategies are followed, while balancing the need to extend credit with the need to minimize potential defaults.

Key Responsibilities:

• Credit Risk Assessment:
• Review and assess credit applications from individuals, businesses, or other entities. Analyze financial statements, credit reports, and other relevant documentation to determine the applicant's ability to repay the loan or credit.
• Data Analysis & Reporting:
• Conduct detailed analysis of financial data, including income statements, balance sheets, cash flow, and tax returns, to assess the applicant's financial health and stability. Prepare comprehensive credit reports and recommend approval, denial, or modification of credit terms.
• Decision-Making:
• Make informed decisions regarding the approval or rejection of credit applications based on risk evaluation, credit policies, and industry best practices. Recommend appropriate credit limits, interest rates, and repayment terms.
• Credit Scoring & Tools:
• Use credit scoring models, risk assessment tools, and other software to evaluate applicants. Stay updated on credit scoring methods and financial products to ensure accurate and effective decision-making.
• Risk Mitigation:
• Identify and mitigate potential risks associated with extending credit by considering factors such as economic conditions, industry trends, and the applicant's credit history. Suggest alternative credit structures if necessary (e.g., secured loans, higher interest rates).
• Compliance & Regulations:
• Ensure adherence to all applicable laws, regulations, and internal policies regarding credit appraisal and lending practices. Maintain up-to-date knowledge of relevant laws, such as the Fair Lending Act and data protection regulations.
• Communication:
• Communicate credit decisions clearly and professionally to clients, brokers, and relevant internal departments. Request additional documentation when necessary and provide explanations regarding credit decisions.

Qualifications:

• Education:
• A Bachelor’s degree in finance, accounting, business, economics, or a related field is typically required. Advanced degrees or certifications in credit analysis or financial risk management are a plus.
• Experience:
• At least 3 years of experience in credit appraisal, credit analysis, or a related field, preferably in [specific sector such as banking, commercial lending, or consumer finance].
• Skills & Abilities:
• Strong analytical skills and ability to interpret financial statements.
• Familiarity with credit scoring systems and risk assessment models.
• Knowledge of lending regulations and compliance requirements.
• Proficiency in credit appraisal software and financial tools.
• Strong attention to detail and accuracy in financial analysis.
• Effective communication skills, both written and verbal.
• Ability to work under pressure and make decisions in a timely manner.
• Good problem-solving skills and ability to identify risks and opportunities.
• Certifications (Optional):
• Certification such as Chartered Financial Analyst (CFA), Certified Credit Professional (CCP), or similar may be beneficial.