As mentioned, you will lead the credit underwriting & monitoring activities at Novicap with the view to reduce and mitigate the impact of credit and fraud risk.  Given that providing financing to SMEs and mid-market corporates is core to our vision, managing credit and fraud risk is crucial to Novicap’s continued success.

The Underwriting Manager will be responsible for the multiple facets of underwriting & monitoring related to the credit business at Novicap:

(i) Credit and Fraud Risk Strategy: 

• For our mid-market credit business, develop, implement, and maintain an Underwriting & Monitoring Policy, which serves to grant credit to counterparties based on: (i) their standalone creditworthiness; and (ii) collateral value, which typically takes the form of recurrent cash flows.

• Define and establish processes for identifying and analysing feedback from the credit portfolio performance and from the commercial team, in order to improve products and processes from a Credit and Fraud Risk perspective.

• Collaborate with the Product and Data teams to identify how Technology could be used to further improve and automate Credit Underwriting and Monitoring processes across the firm.

(ii) Credit Underwriting and Monitoring:

• Manage a team of Credit Risk Analysts, who are each responsible for underwriting and monitoring a portfolio of companies.

• Assign companies and their related transactions to a Risk Analyst, ensuring a balanced workload among the team.

• Approve transactions according up to the attribution thresholds set out in the Underwriting & Monitoring Policy.

• Act as a voting member and secretary to the Underwriting Committee, whose role is to review credit business proposals that are outside of the attribution thresholds for the Underwriting Team.

• Ensure a timely response rate to “Risk Consultations” from the Commercial and Operations teams.

• Establish a timely communication between the Underwriting & Monitoring team and the Collections team in order to prevent and mitigate credit losses.

(iii) Fraud Monitoring:

• Identify potential fraud risk from Commercial requests based on collating various information sources.

• Respond to automated warnings generated by Novicap’s technology platform, following the upload of new information onto the platform by our counterparties

In doing so, you will contribute to the achievement of Novicap’s long-term growth plans

With integrity. transparency and clarity are the cornerstones of our work. We honor our agreements and take responsibility for our actions. Furthermore, we are aware that we can always improve and we welcome feedback, in order to continue to grow.

We always strive to exceed expectations, ensuring the highest levels of professionalism, and we aim to outperform, taking a data-driven approach.

And finally, we are generous and give first. We support and contribute to our community, seeking the common good above our own interests.

You will report directly to the CEO and work closely with the rest of the teams across Madrid, Barcelona and the rest of Spain. We are a young and dynamic team that’s waiting for you with arms open!

• Have 10 years of experience in underwriting middle-market and SME credit in Spain, ideally as part of an asset management company or a direct lending fund;

• Proven track record of establishing and maintaining underwriting & monitoring policies catered to the middle-market and SME segment;

• Are fluent both in Spanish and English;

• Have a holistic grasp of contractual cash flow analysis and its resulting value in a collateral management context;

• Have capacity to assume full ownership of credit underwriting and monitoring end decisions in a middle-market and SME lending environment (specific depth in working capital financing solutions would be highly valued);

• Have solid experience in credit portfolio management across economic cycles;

• Have a structured approach to Risk research, planning and organisation skills;

• Are technology-savvy and proficient in the use of a range of business tools (e.g. Google Suite);

• Are pragmatic, autonomous and self-driven so as highly analytical, with an ability to synthesize details into key issues for C-level executives;

• Have an in-depth understanding of fundamental credit analysis, balancing micro-analysis (at company level) and macro-analysis (how this company is affected by the external environment);

• Are capable to take and own credit risk decisions in a disciplined and independent manner, while managing difficult and stressful credit situations;

• An ability to build relationships across the organization in order to understand business processes and identify related risks such as experience leading and managing teams and looking after their professional development.

• Full-time work with an open-ended contract

• Hybrid work model: we work 3 days from the office and 2 days from home to improve work-life balance

• Flexible benefits with Cobee: you will be able to include in your paycheck the monthly expenses for food, transportation, daycare and others

• Medical insurance: we offer an optional health insurance through Sanitas, with competitive rates and Novicap subsidizes 30% to guarantee your wellbeing

• Communicate better with your colleagues by signing up for free English or Spanish classes if you need them

• Gym membership with Urban Sports Club, partly subsidized by Novicap (we also have a running club!)

• Incredible and highly motivated co-workers

• You will participate in our company events and get to meet the rest of the team that is spread across Spain

• You will be part of our dynamic and international work environment, with a flat hierarchy and open communication between teams

• Library with plenty of books to choose from. If you can't find anything, let us know and we'll add it to the library.

• Free fruit, coffee and tea in the office. We know it's customary, but we like to take care of you anyway.

Novicap is an equal opportunity employer and does not discriminate on the basis of race, color, national origin, ancestry, citizenship status, religion, physical or mental disability, marital status, sex, sexual orientation, gender identity or expression, age, or any other basis protected by law, ordinance, or regulation. We make every effort to ensure that all candidates are treated fairly and equally.

If you think you don't tick all the boxes, we'd still love to hear from you. Nobody checks every box, and we are looking for someone excited to join the team!