Sr. Credit Underwriter
Reports To: Credit Manager
Location: West Des Moines, Iowa
FLSA Status: Non-exempt
JOB SUMMARY
The Senior Credit Underwriter serves as a key decision-maker and risk expert within the credit underwriting function, responsible for evaluating the most complex and high-risk loan applications. Operating in a data-driven, high-growth financial technology company, this role balances strategic oversight with hands-on underwriting to ensure that credit policies are applied consistently and prudently. The Senior Underwriter handles exceptions to standard criteria, leads secondary reviews, and partners with risk, compliance, and product teams to refine and evolve underwriting guidelines. This position also plays a leadership role in mentoring junior underwriters, supporting audit and quality control efforts, and ensuring the overall integrity of the credit portfolio. Ideal candidates will bring deep underwriting experience, a strong grasp of credit risk frameworks, and a collaborative mindset that thrives in a tech-enabled, fast-scaling environment.
RESPONSIBILITIES
- Conduct thorough, advanced credit analysis for complex loan files including high-dollar, layered risk, and exception-based cases.
- Act as a resource for challenging loan files and edge-case scenarios.
- Conduct second-level reviews on escalated or borderline applications.
- Recommend policy updates and enhancements to underwriting criteria.
- Provide mentorship and informal training to level I and II Underwriters.
- Serve as a point of contact for internal audits, compliance inquiries, and exception approvals.
- Lead quality control reviews and contribute to underwriter training and performance calibration.
- Partner with technology teams to optimize underwriting tools and automation logic.
- Maintain superior accuracy to uphold high performance standards.
- All other duties as assigned.
QUALIFICATIONS
- Associate or bachelor’s degree in finance, business or related field preferred.
- Minimum 1-2 years as Credit Underwriter II (or equivalent external experience).
- Expert-level credit analysis and decision-making skills.
- Strong working knowledge of lending guidelines, including DTI, LTV and credit scoring.
KNOWLEDGE AND SKILLS
- Strong attention to detail and commitment to accuracy.
- Proficient in credit risk assessment and document review.
- Collaborative mindset and willingness to mentor junior staff informally.?
- Detail oriented with strong analytical and organizational skills.
- Proven ability to lead initiatives and mento cross-functional teams.
DETAILS
- Hybrid environment available.
- Schedule will be Saturday through Tuesday from 10:30 AM to 7:00 PM, with Thursdays and Fridays off.
- Pay is based on experience and level placement, with rates starting at $28.37/hour for Credit Underwriter II and $32.81/hour for Senior Credit Underwriter.
- Up to 7.5% of annual salary paid out on a monthly basis, based upon performance, after the first 90 days of employment.
APPLY TO WORK AT WATERCRESS FINANCIAL
What does the hiring process look like after submitting a resume?
- If you see a position that you feel aligns with your skillset, apply! Our HR team will review your resume and determine if your background is what we are looking for. Talented candidates will be contacted to do a phone screen.
- Candidates that are selected will be asked to do an in-person or virtual interview with the hiring manager. A second interview with additional managers or members of the executive team may be necessary depending on the position.
- The hiring manager will then select a candidate to receive an offer for the position!
- Once an offer letter has been signed, all positions will be asked to complete a background and credit check to be completed prior to hire.
- It’s time to start your new position at Watercress Financial!