---
title: 'Underwriter - Commercial Mortgages - 12 Month FTC at Allica Bank'
canonical: 'https://feeny.ai/job/underwriter-commercial-mortgages-12-month-ftc-allica-bank-london-b0ghn4eydzsg'
type: 'job'
last_seen: '2026-10-12'
---

# Underwriter - Commercial Mortgages - 12 Month FTC at Allica Bank

- **Company:** Allica Bank
- **Location:** London, United Kingdom
- **Employment:** full-time
- **Work type:** hybrid
- **Posted:** 2026-10-08
- **Last confirmed live:** 2026-10-12
- **Apply:** https://jobs.ashbyhq.com/allica-bank/44c1afc9-8530-457c-ad21-cbc6f53121e1

## Job description

## About Allica Bank

Allica is the UK’s fastest growing company - and the fastest-growing financial technology (Fintech) firm ever. Our purpose is to help established SMEs, one of the last major underserved opportunities in Fintech. Established SMEs are the backbone of local communities - representing over a third of our economy - yet have been largely neglected both by traditional high street banks and modern fintech providers.

Department Description Allica Bank has won multiple recent Commercial Mortgage awards with the CM products being the main driver of lending in the Allica suite, the Commercial Mortgage products have now been well established for over 2 years and continue to grow at pace as a market leader. As part of the risk function within Commercial Mortgages, this role is critical to ensure we can deliver on our objectives in a safe manner.

## Role Description

The purpose of the role is to underwrite borrowing requests received via a variety of channels, including online in line with the Bank’s approved Credit Policy and in accordance with the Banks asset portfolio (including but not limited to commercial mortgages, commercial investment loans, commercial loans against leasehold properties) .

Principle Accountabilities

- Assess and underwrite direct credit loan applications within personal discretion, in line with the all regulatory requirements, the Bank’s credit appetite policy and underwriting policies utilising appropriate credit data and analytical tools.
- Produce clear, accurate and concise written documentation, making clear recommendations to the Credit team for loan application requests falling outside of personal discretion or outside of credit policy, escalating cases where necessary to the appropriate Delegated Lending Authorities.
- Manage and own the end to end application process, from initial enquiry to completion, liaising effectively with the panel solicitors in terms of required security instructions and ensure loans are appropriately documented and borrowing is fully secured before draw-down.
- Liaise with the Credit team as required in managing the credit risk environment, concentration risk and developing credit policy.
- Undertake regular checks and monitor agreed controls to ensure the Bank’s risk and customer requirements are met at all times; escalating immediately any areas of concern
- Manage a portfolio of advances to a defined arrears and collections policy.
- Liaise effectively with applicants (or their brokers) and valuers in requests for additional relevant information to support the credit decisioning process.
- Deliver an excellent service is given to customers, their brokers and Relationship Managers, building and maintaining strong relationships in line with the Bank’s values and defined customer experience standards.
- Ensure compliance with all mandatory policies and adherence to credit procedures to maintain internal credit controls.
- Fully understand and comply with operational procedures, requirements and SLA’s.
- Help develop appropriate MI and KPI indicators and reporting, maintaining suitable MI to enable a detailed understanding of Mortgage processing pipeline
- Actively search for areas of improvement for the Bank and your team and take ownership for delivery of these, setting a good example by displaying appropriate values and behaviour

Personal Attributes & Experience

- Exposure/knowledge of underwriting, with experience in the SME sector, with an understanding of the competitor landscape and the dynamics and trends of the SME market.
- Excellent credit/financial analysis skills including the analysis of financial accounts, budgets and cashflow forecasting, Understanding of the loan underwriting process and the risks involved and be able to assess applications within a personal discretion and make recommendations and take commercial decisions.
- Experience of escalating and presenting at Credit Committee level and Arrears Management.
- Strong analytical, verbal and written communication skills.
- Ability to build strong and lasting relationships with internal stakeholders such as the distribution team, operations team and senior management, plus 3rd party suppliers such as Intermediaries, Valuers and Solicitors.
- Understand and comply with all regulatory requirements, plus internal policies / procedures, guidelines, risks and controls and service levels.
- Good understanding of TCF, AML, KYC and Conduct risk.

Working at Allica Bank At Allica Bank we want to ensure our employees have the right tools and environment in which to succeed in their role and in support of our customers. Our employees are at the heart of everything we do, so our benefits are designed with you in mind:

- Full onboarding support and continued development opportunities
- Options for flexible working
- Regular social activities
- Pension contributions
- Discretionary bonus scheme
- Private health cover
- Life assurance
- Family friendly policies including enhanced Maternity & Paternity leave

Don’t tick every box? Don’t worry if you don’t have all the skills or requirements listed on the job description. If you think you’ll be a good fit, we’d still love to hear from you! Flexible working We know the ‘9-to-5’ isn’t right for everyone. That’s why Allica Bank is fully committed to flexible and hybrid working. Please let us know what is best for you and, if we can, we will do our best to accommodate. Diversity We’re a diverse bunch here at Allica, with all kinds of experiences, backgrounds and lifestyles. Our openness and differences make us stronger, and we want everybody to feel comfortable bringing as much of themselves to work with them as they like.

## About Allica Bank

## Company Overview
- **One-liner**: Allica Bank is a British challenger bank and fintech that provides current accounts, savings, and lending products exclusively to established small and medium-sized businesses (SMEs) in the UK.
- **Entity Type**: Private (Unicorn status achieved February 2026)
- **Headquarters**: London and Milton Keynes, UK (with additional hubs in Manchester and India)
- **Founded**: 2019
- **Founders**: Not publicly available (the bank was founded by a team; current CEO is Richard Davies, appointed July 2020)

## Core Business
- **Primary industry/industries**: Financial Services, Fintech, Business Banking (SME Banking)
- **Target customers**: B2B — Established UK businesses with 5–250 employees
- **Mission or purpose statement**: "To give established businesses the banking they deserve" — combining fintech knowledge with start-up spirit to transform the business banking experience.

## Products & Services
- **Business Rewards Current Account**: A full-featured business current account with unlimited fee-free UK transfers, team-level access, two-person authorisation, virtual cards (up to 20 per employee), expense management, and integrations with accounting software (Sage, Xero, QuickBooks, FreeAgent). Earns up to 1.5% cashback on card spend and integrated savings pots paying up to 4.08% AER interest.
- **Business Borrowing**: Includes business overdrafts and lending products tailored for established SMEs.
- **Savings Accounts**: Instant access savings accounts with competitive interest rates.
- **Invoice Finance & Embedded Payments** (via acquisition of Kriya, October 2025): A new offering aiming to achieve £1 billion of invoice finance lending by 2028.
- **Specialist Bridging Loans** (via acquisition of Tuscan Capital, August 2024): Short-term property-backed lending.

## Market Standing
- **Valuation/Market Cap**: $1.2 billion (Unicorn status, February 2026)
- **Key Metric**: Annual Revenue of £371.3 million (2025); Net Income of £36.9 million (2025); Total lending over £3.7 billion; Over 30,000 business customers (February 2026)
- **Notable Investors/Partners**: Ventura Capital, GLG, Sona AM, TCV, Blue Owl, Atalaya Capital Management, Warwick Capital Partners
- **Growth Signals**:
    - Named the UK's fastest-growing private company in The Sunday Times 100 (June 2024)
    - Named the UK's fastest-growing fintech ever in Deloitte's 2023 UK Tech Fast 50
    - Listed as the second fastest growing company in Europe in the FT1000 (March 2025)
    - Over 700 employees (growing to 799 in 2025)
    - Achieved first full-year profit in 2023
    - Acquired Kriya (invoice finance) and Tuscan Capital (bridging loans) to expand product suite

## Competitive Advantages
- **Dedicated Relationship Management**: Every customer gets a UK-based relationship manager on speed dial — a return to "real relationship banking" that larger banks have moved away from.
- **Proprietary Technology**: Tech teams design, test, and build everything in-house specifically for the needs of established businesses, not consumers or micro-businesses.
- **No Monthly Fees**: Unlike traditional banks, Allica rewards customers with cashback and interest instead of charging monthly account fees.
- **FSCS Protection**: Customer deposits are protected up to £120,000 by the Financial Services Compensation Scheme.
- **Speed of Execution**: Company culture emphasises "Need for Speed" — they believe executing and improving faster creates a massive competitive advantage.

## Strategic Focus
- **Product Expansion**: Growing beyond core banking into invoice finance, embedded payments, and specialist lending through acquisitions.
- **Scaling Customer Base**: Targeting continued rapid growth from 30,000+ business customers, with a specific goal of £1 billion in invoice finance lending by 2028.
- **Talent & Culture**: Building a team that blends "fintech knowledge with start-up spirit" while maintaining a focus on transparency and delivery over hierarchy.

## Why Work Here
- **Culture & Values**: "Allicans" are described as passionate about the collective mission, with a culture of top talent, big thinkers, and a truly diverse workforce. Values include "Own it," "Need for Speed," "Straight Bat," and "Lead by Example."
- **Employee Satisfaction**: 92% of employees said they enjoy working together (latest survey); 86% say they enjoy working there.
- **Flexible Working**: Flexible working arrangements are offered, plus enhanced maternity, paternity, and shared parental leave.
- **Benefits**: Competitive financial and wellbeing benefits, plus a packed staff social calendar.
- **Growth Opportunity**: Described as "the UK's fastest-growing fintech ever" — employees get to help build the future of business banking and grow their own careers in a fast-paced, high-impact environment.
- **Engineering Culture**: Tech teams design, test, and build everything in-house with a focus on transparency and data-driven decision making. Worth is measured by delivery of outcomes, not job titles or headcount.

## Sources
1. [allica.bank](https://www.allica.bank/about-us)
2. [allica.bank](https://www.allica.bank/)
3. [allica.bank](https://www.allica.bank/careers)
4. [jobs.ashbyhq.com](https://jobs.ashbyhq.com/allica-bank)
5. [wikipedia.org](https://en.wikipedia.org/wiki/Allica_Bank)

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