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Commercial Underwriter
Ref No.: 17-00790
Location: Mountain View, California
Position Type:Contract
Commercial Underwriter
Intuit is looking for a Commercial Underwriter with operations experience to join the team. You will be responsible for developing and leading the end to end underwriting work flow from both an operational and risk perspective. You will also be expected to closely partner across the risk, compliance, marketing, product and operations teams to drive successful implementation.
 
Responsibilities:
  • Evaluating Applications: Your main focus will be to analyze customer's creditworthiness and make underwriting decisions. Using our proprietary models and your own underwriting expertise, you will analyze information provided in applications, credit bureau information and other third party data to determine whether to approve or decline applications
  • Improving Underwriting Process and Policy: You will work closely with our PM and PD teams to improve the underwriting process. You will also work to optimize the application and experience for customers, while identifying areas in need of further incremental improvement
  • Risk Model and Underwriting Policy Improvement: You will work closely with our risk modeling teams to strengthen our underwriting models and policies.
  • With a compliance first attitude, identify issues, improve quality, and mitigate risk. 
Qualifications:
  • 5+ years of experience in commercial underwriting
  • 2 – 5 years -  (2nd or 3rd job, seen one or two places already), ideally 4 – 5 years of experience, can work with a more jr. position than Tom.
  •  Financial services in general, please avoid lending club as this is where Tim worked at, any banks (smaller banks, CU, funding circle)
  • Knowledge of financial statement components and solid understanding of key risk drivers
  • Strong communication skills with the ability to simply Client out the conclusions and reasons for each decision
  • Strong analytical skills with real credit awareness and a practical approach to implementing processes
  • Ability to constantly focus on the process and to develop and implement operational changes in order to improve efficiency and limit risk throughout the underwriting process
  • Excel advanced user, they will be using this as their workflow tool, working with Excel constantly, it is connected to multiple databases, pivot tables, formulas (creating basic formulas), understanding how the data gets there, manipulating data, understanding
  • Familiarity with QuickBooks and Salesforce (CRM) would be a plus
High level
  • QBF started off as a suspicion as something we could do at Intuit, came up with the notion of DIY, hired 3 people in 3 months, scaling the next business of Intuit, the mindset of a person who wants to get in during the beginning and be flexible and adapt, building processes and then executing
  • Startup fell, no worries about funding but still dealing with bureaucracy
    • Project description: Underwrite short term, small dollar business loans. Includes speaking to customers
    • Business justification for this need: rapid growth on the team
    • Describe your team: a start-up inside a bigger company, moving and learning quickly
    • Describe the role: Underwrite short term, small dollar business loans. Includes speaking to customers
    • What are the high level goals and objectives, what are the strategies to achieve the goals? Underwrite short term, small dollar business loans. Includes speaking to customers. Looking for someone used to working in a fast paced, high volume environment, advanced problem solver.
    • 3-5 skills they absolutely must have (quantify and be specific, software skills, experience, certifications/degree etc.)
      • Small business empathy or experience (they have owned a business, they have worked with small businesses, family owns a small business),
      • knowledge of small business loans, strong excel skills,
      • 2+ years of financial analysis or underwriting
    • What does this individual need be able to do 1st week/1st month (turnkey):
      • first week- understand databases and excel to get data into a format they can analyze.
      • First month: review and assess validity of data, understand how to get accurate information from a client.
    • How will there performance be measured? Quality of decision making, quantity of decisions made, communication and support to help grow the business.
    • In your opinion, why is this an exciting opportunity and what do you love most about Intuit? This is a huge opportunity to get in early with the newest Intuit product that has the potential to be a major part of the company strategy in the next 5 years.
    • Are there any screening questions we can incorporate into our screening process? Have you underwritten loans before? (looking for someone who has underwritten small business loans under $100K), plus the skills in o and m above.
    • Desired skills (any new technology your team is pursuing): excel and Salesforce