Senior Risk Underwriter

Multitude is a listed European FinTech company, offering digital lending and online banking services to consumers, small and medium-sized businesses, and other FinTechs. The services are provided through three independent business units, which are served by our internal Banking-as-a-Service Growth Platform. Multitude’s business units are consumer banking (Ferratum), business banking (CapitalBox) and wholesale banking (Multitude Bank).

Multitude Group employs over 700 people, from over 40 nationalities working in 25 countries and offers services in 16 countries, achieving a combined turnover of 230 million euros in 2023. Multitude was founded in Finland in 2005 and is listed on the Prime Standard segment of the Frankfurt Stock Exchange under the symbol 'E41'. 

Are you an expert in corporate loan underwriting with a keen eye for detail and a passion for mitigating risk in a dynamic banking environment? Join us at Multitude Bank as a Senior Risk Underwriter within the 2nd Line of Defence. In this pivotal role, you’ll be entrusted with underwriting corporate loan applications ranging from €5 to €30 million, secured by consumer lending portfolios or real estate assets across various jurisdictions. If you're ready to bring your expertise to a fintech-driven, innovative bank, this is your opportunity to make a lasting impact.

As our Senior Risk Underwriter, you will:

• Loan Underwriting: Evaluate and underwrite corporate loan applications in line with the bank’s credit policy, underwriting procedures, and risk appetite.

• Financial Analysis: Conduct in-depth financial assessments of applicants, including reviewing financial statements, cash flow projections, and collateral evaluations. Calculate key metrics such as Loan to Value (LTV) and Loan to Liquidation Value (LTLV).

• Stress Testing: Develop and apply stress testing models to ensure portfolio resilience under various economic conditions.

• Data Validation: Gather and validate necessary documentation, including financial breakdowns and creditor lists, for thorough loan analysis.

• Creditworthiness Assessment: Analyze borrower credit histories, market conditions, and industry risks to assess financial health.

• Internal Rating: Utilize internal rating methodologies to assess the credit quality of each company being underwritten.

• Expected Credit Loss Calculation: Calculate Expected Credit Loss (ECL) requirements in line with IFRS9 for all transactions.

• Risk Reporting: Prepare or validate comprehensive risk reports, ensuring credit assessments align with European Banking Authority (EBA) guidelines.

• Collateral Quality: Independently evaluate the quality of pledged collateral, including lending portfolios and real estate market valuations.

• Collaboration: Work with business teams and stakeholders to structure loan terms that mitigate risks and protect the bank’s interests.

• Portfolio Monitoring: Track the performance of existing loan portfolios, monitor compliance with covenants, and proactively manage early warning signals for potential credit deterioration using SICR and UTP parameters.

• Regulatory Compliance: Stay informed about market trends, economic developments, and regulatory changes, especially updates to EBA guidelines, ensuring that internal procedures are updated accordingly.

To succeed in this role, you should have:

• Educational Background: A bachelor’s degree in finance, economics, accounting, or a related field. A master’s degree or professional certifications such as CFA or FRM are a plus.

• Relevant Experience: Prior experience in underwriting, credit risk analysis, or lending, specifically underwriting corporate loans within the €5 million to €30 million range, is essential. Experience in industries like consumer lending, secured SME lending, construction, and real estate management is advantageous.

• Risk Management Expertise: A strong understanding of credit risk management principles, financial analysis, and loan structuring.

We’re looking for someone with:

• Analytical Skills: Proficiency in reviewing financial statements, cash flow analysis, and conducting detailed collateral evaluations.

• Technical Proficiency: Experience in financial modeling, credit scoring, and working with PDs, LGD, EAD, and APRs.

• Regulatory Knowledge: Familiarity with regulatory requirements, including IFRS9 and EBA guidelines, and industry best practices in lending.

• Communication: Strong interpersonal and communication skills, with the ability to collaborate effectively with internal and external stakeholders.

• Software Proficiency: Advanced skills in MS Excel, Word, and PowerPoint.

Are you ready to bring your expertise to a cutting-edge bank and play a critical role in safeguarding our financial operations? Join Multitude Bank as a Senior Risk Underwriter and help us drive success through sound risk management. Apply today and create success stories in Fintech. 

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