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Junior Underwriter

Splash Financial

Splash Financial

Marketing & Communications
Posted on Friday, July 21, 2023

About Our Company:

We got tired of seeing our friends and family struggle under the crushing weight of student loans. So in 2013, we did something about it. We made a marketplace filled with banks and credit unions looking to help student borrowers. We used that network to help people shut out of refinancing find a way in. And we did it all from a tiny office in Cleveland, OH. In other words: we built Splash Financial.
Today, we’ve become a national leader with over $6 billion in refi requests. We’re expanding into technologies like machine learning, and automated underwriting that helps us match consumers to great offers — right from their phone. And we’ve raised over $70 million from investors like DST Global, Citibank, Northwestern Mutual, DVP, CMFG Ventures and more. But at our core, we’re still that little company from Cleveland with a big dream: to make people more powerful than their debt.

About Our Workplace:

Splash is remote-first, and proud of it. We spend our days creating ways to simplify financial products, then get them into the hands of people who need help. Right now, we’re focused on developing financial technologies that fundamentally change the way the industry lends. And before you ask: no, we’re not a crypto thing. And to hire the best, we provide the best: great health insurance, competitive salaries, and unique benefits like quarterly meet-ups, access to community and engagement tools. And although we’ve been around since 2013, we still love to think like a start-up — a place that empowers good people to do great things, fast. We’re friendly, folksy, and have Slack channels for both major league sports and minor league anime.
Also: we sometimes have free t-shirts.

About the Role:

As a Junior Underwriter, you will use your working knowledge of general credit underwriting guidelines to be responsible for the analysis of submitted files for debt-to-income ratio, income analysis/ability to repay, and credit profile/history, while adhering to Splash credit policies and partner or program-specific guidelines. Junior Underwriter’s support and uphold fair lending practices of Splash Financial and are responsible for quality targets ensuring the highest speed and efficiency, while maintaining a strong level of customer satisfaction. The Junior Underwriter will review and analyze complex customer financial documentation and propose solutions to assist customers in refinancing their student loan debt. The staff members may interact with other internal and external parties such as Customer Service Rep/Loan Consultants, Operations Associates, lending partners, vendors, and other stakeholders.

If you’re at a point in your career where you’re ready for the challenge and excitement of shaping a program and scaling it exponentially, this could be the role for you.

NOTE: This role is based solely in OH (preferably Cleveland, OH)

What you'll do at Splash:

  • Credit underwriting and income analysis
  • Capacity to analyze complex borrower documentation, determine income and repayment ability, assess borrower hardship as applicable for borrower assistance files, housing expenses, potential fraud and determine proper loan resolution
  • Utilization of specialized systems, tools, spreadsheet calculators, process and contractual requirements
  • Quickly learns and applies knowledge of Splash Financial’s internal underwriting best practices and external partner/vendor program guidelines
  • Adheres to all Splash Financial and regulatory Fair Lending practices
  • Reviews all loan underwriting and modifications documentation to ensure compliance with partner requirements regarding all required loan documentation
  • Analyzes complex financial information including calculation of income and debt ratios, verification of assets and credit review
  • Analyzes difficult and challenging problems and identifies potential or innovative solutions, identifies documentation deficiencies within review and communicates findings with clarity
  • Keep up to date on all credit policy changes that impact underwriting
  • Displays customer service excellence
  • Applies relevant technical and computer expertise
  • Demonstrates strong verbal and written communication skills
  • Teams collaboratively with internal employees and external customers/business partners
  • Achieves and exceeds work goals for productivity, quality, and turnaround time
  • Prioritizes workflows
  • Demonstrates a determination to get the job done right the first time while ensuring loan decisions meet all program and product specifications

What you'll bring to Splash:

  • Based in Cleveland, OH preferred
  • Minimum of 2 years of experience as a credit underwriter or loan processor for unsecured loans, auto, mortgage, or a similar product line thorough knowledge of complex personal & business financial analysis with an expertise in tax return/balance sheet analysis including cash flow and self-employment income analysis
  • Demonstrated expertise of general underwriting practices related to lending
  • Excellent analytical and decision-making skills
  • College degree in business and/or equivalent work experience highly preferred
  • Advanced knowledge of consumer credit reports
  • Intermediate to expert level MS Excel skills, including macros and pivot tables
  • Knowledge of specialized systems, tools, spreadsheet calculators, process and contractual requirements typical to the financial services industry
  • Strong commitment to customer service
  • Demonstrates strong verbal and written communication skills
  • Proven track record of excellent teamwork with internal employees and external customers/business partners