Underwriting Quality Assurance Officer at Rosabon Financial Services

Job Summary

• The job role involves regular reviews of the performance of the underwriters’ and every other major stakeholder’s activities in the loan underwriting value chain to ensure full compliance and alignment with the company underwriting policies and industry standards and best practices by auditing a sample of recent loans underwritten to make the judgment.
• The underwriting cycle starts from the loan initiation stage to the final stage of disbursement to the ultimate beneficiaries.

Duties & Responsibilities

• Performance of underwriting audits to ensure that underwriting guidelines are followed strictly.
• Identify issues and report the same to the Head, Internal Audit, and senior management.
• Make recommendations to rectify issues noted and devise an effective system to follow up on the status of compliance.
• Function as the key assessor of turnaround time and quality of work in the underwriting value chain.
• Periodically carry out an audit using sampling to ascertain the quality of work and time spent on each stage at every stage of the underwriting.
• Manage any potential conflicts of interest to avoid disrepute to the Company's integrity.
• Identify and communicate training or resource gaps to management. Assist in providing technical training and mentoring to newly joining or less experienced members of the underwriting team,
• Ensure that the policies used are a good reflection of the accounts underwritten by the team.
• Performs quality control and standard audits to assess the effectiveness of internal controls and ensure compliance with underwriting guidelines and other departmental procedures as outlined in the audit strategy and plan.
• Review all data for and query irregular/incorrect payment postings
• Identify risks/gaps in the underwriting process flow and develop preventive strategies
• Review Customer Creation (Agreements), Credit settings for customers
• Ensuring accountability, professionalism, responsibility and transparency in the underwriting value chain
• Perform quality control tests on the loans that have been disbursed
• Be able to provide a real-time report on underwriting activities and escalate where necessary
• Documentation of pushbacks and all posting flaws detected
• Any other task assigned by Line Manager.

Qualifications / Requirements

• Bachelor's Degree in Finance, Accounting, Economics, Mathematics, Industrial Engineering, Statistics, or related Degree
• 3 years+ of Internal Audit and Credit Control experience, preferably underwriting
• Advanced skills in Excel, Word, and PowerPoint, required
• Superior communication, organization, and presentation skills desired
• Good understanding of underwriting audit methodologies and standards.
• Good understanding of Prudential Regulation Authority and the Financial Conduct Authority framework
• Good understanding of business processes and how they support the business.