Underwriting Manager

4 weeks ago

Farnborough Hampshire, United Kingdom Bayerische Motoren Werke Aktiengesellschaft Full time

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BMW Group Financial Services UK is looking for an Underwriting Manager. This role is based at the Summit ONE Campus in Farnborough.

Underwriting Manager – FTC (Maternity Cover from Oct 2024)

Underwriting Manager Private Customer BMW Group Brands, reporting to the General Manager of New Business. You will manage 10-15 Underwriters who are responsible for analysing and decisioning finance credit applications. You will work closely with the other Underwriting Managers to effectively manage quality and resource in a regulated area. The wider Underwriting team is comprised of 40-50 Underwriters and sits within the New Business team of c.80 people.

What awaits you?

  • Is the responsible back-office function for manual credit decisions within given competencies and as such is accountable for the quality of the manual credit decision process, documentation, and compliance with legal requirements in credit business within the SME & Consumer credit activities.
  • Is responsible for achieving Underwriting KPIs, most notably turnaround times and quality assurance.
  • Supports the development and implementation of the operational (including lending) strategy for BMW Private Customer Group Brands / Private Customer All Brands / SME Consumer credit activities.
  • Is accountable for compliance with encompassing regulatory requirements relating to the organizational (Front / Back Office) and operational structure within credit business, the procedures for the early detection of risks and the procedures for risk classification within BMW Private Customer Group Brands / Private Customer All Brands / SME Consumer credit activities.
  • Responsibility for the operational delivery of key compliance activities in the areas of fraud and anti-money laundering within the BMW Private Customer Group Brands / Private Customer All Brands / SME Consumer credit activities.
  • Responsible for managing the Underwriting team.
  • Responsible for building and maintaining effective collaboration and management within underwriting teams to ensure alignment on all topics and to all key stakeholders.
  • Responsible for offering advice and support to BMW Group Brand Retailers and Multi-make Brokers in Application Processing for best customer and company outcomes in line with Treating Customers Fairly regulations.
  • Responsible for delivering the FCA regulatory requirements and ensuring the effective governance of the business and to comply with FCA rules and guidance, including the Conduct Rules that apply to all employees, a copy of which is published and updated from time to time within the Code of Conduct.
  • The role holder is responsible for ensuring process & procedures adequately and fully considers our Consumer Duty responsibilities so that we have appropriate processes for identifying and ensuring good customer outcomes, including for customers with characteristics of vulnerability.

What should you bring along?

  • Strong academic background.
  • A degree is desirable.
  • Proven underwriting / management experience within the finance sector (motor captive would be beneficial) or similar.
  • Working knowledge of FCA/DPA/CCA/CCD/AML and identification of fraudulent applications essential.
  • Proven leadership skills and successfully running a department and/or team.

Do you enjoy working in a high-profile team that is fast paced and highly regulated that has a direct impact on our success? If so, apply now

At the BMW Group, we see diversity and inclusion in all its dimensions as a strength for our teams. Equal opportunities are a particular concern for us, and the equal treatment of applicants and employees is a fundamental principle of our corporate policy. That is why our recruiting decisions are also based on personality, experience and skills.

Find out more about diversity at the BMW Group at bmwgroup.jobs/diversity

In 2024 BMW Group Financial Services UK was recognised as a Top Employer. We invest in our employees and embrace a culture of flexible working as well as promoting a positive, supportive culture and working environment. We are based in prestigious offices in Farnborough that provide a great place to work with good people and an exciting, engaging, industry leading brand.

Successful candidates will be required to complete background screening checks and the offer of employment will be subject to results which we consider are satisfactory. Checks will include references, right to work, IT system Compliance Integrity Check (COIN), CV and relevant qualifications. Checks may also include criminal records, adverse financial (credit), directorships, address, internet research and/or driving licence. If you have any queries on any of these checks, please discuss with us and we will be happy to go through with you in more detail.

We are proud to be a part of the Disability Confident scheme. The scheme supports employers to make the most of the talents disabled people can bring to the workplace.

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