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Figure is looking for an experienced Senior Operations Manager - Underwriting to join our dynamic team and contribute significantly to our growth. In this role, you will collaborate cross-functionally with the Product, Credit, and Quality Control teams to develop and maintain effective underwriting processes. This position offers an opportunity to take ownership of key initiatives and make a meaningful impact within an innovative environment.
Job Responsibility:
Underwrite loans, verifying completeness and compliance with company standards
Bring proven experience in multiple loan product guidelines, including Self- Employed, Trusts, LLCs, Powers of Attorney (POA), and Debt Service Coverage Ratios (DSCR)
Develop detailed guidelines and operational processes for new loan products and services
Develop written policies and procedures to, and be able to assess and ensure the accuracy of credit and collateral documentation, including income statements, tax returns, and fraud reports
Develop written policies and procedures to, and be able to analyze complex income documentation for both personal and business borrowers, ensuring all necessary paperwork is collected to support loan decisions
Maintain established service level agreements for decision-making while managing a variety of loan types in a fast-paced environment
Communicate regularly with sales teams, operations team, and management to address inquiries and provide necessary support
Assist in training and onboarding new underwriters, sharing best practices and insights to promote team development
Provide feedback to the management on challenges encountered and contribute to process improvement initiatives
Adapt loan terms as needed, identifying additional conditions to ensure sound credit decisions
Uphold a professional and client-centric approach, fostering positive relationships with all stakeholders
Collaborate with colleagues in underwriting complex loans, working together to achieve team objectives
Possess the authority to approve or override conditions set by other underwriters when necessary
Maintain industry licenses as required
Requirements:
5+ years of verifiable experience in underwriting conventional, portfolio, and special program loans, verifying completeness and compliance with company standards
Proven experience in all of the following: Self- Employed, Trusts, LLCs, Powers of Attorney (POA), and Debt Service Coverage Ratios (DSCR)
Previous people management experience
Bachelor’s degree is preferred
Demonstrated ability to write and interpret guidelines and make informed decisions based on those interpretations
Strong project management skills with a proven track record of coordinating across departments and functions
Solid work ethic and a hands-on approach suited for a fast-paced environment
Capability to address challenging issues while maintaining objectivity and independence
Proficiency in building technical processes and collaborating cross-functionally to provide underwriting-related requirements
Experience in conducting compliance monitoring and testing
Proven ability to manage a project from inception to completion while remaining organized, detail-oriented, and diligent
Strong communication skills, with the ability to articulate plans, processes, policies, and issues clearly to stakeholders both verbally and in writing
Ability to thrive in a startup environment and contribute to building from the ground up
Meet minimum requirements to retain an NMLS license
This position requires holding an NMLS License and meeting qualifications for Qualified Individual licensing in needed states
What we offer:
Comprehensive health, vision, and dental insurance with 100% employer-paid premiums for employees and their dependents on select plans
Company HSA, FSA, Dependent Care, 401k, and commuter benefits
Employer-funded life and disability insurance coverage