Predatory lenders are the only choice for over 7 million Canadians who have low credit scores. These high interest loans with hidden fees create a negative spiral that makes it almost impossible to achieve financial stability. Canadians need a more sustainable solution.
Meet Parachute – a loan that actually changes lives.
Our three-step approach combines a lower interest rate with no hidden fees, a data driven app that guides user behaviour, and a shared value rebate system to reward targeted outcomes. We’re on a path to strong sustainable growth, built by a team with deep experience in credit, behavioural science and building start-ups.
We are looking for a few exceptional people with an entrepreneurial spirit, who want to join an innovative and rapidly growing company that is laser focused on our customers success. We want people with a hands-on, “can-do” attitude, and who are at their best when the pressure is on. If you thrive in a fast-paced environment and want a career, not a job, and you are willing to roll up your sleeves in this early-stage start-up, we just might be made for each other.
The Underwriter of personal loans analyzes and verifies digital consumer loan applications, evaluates risk and makes loan eligibility decisions, ensuring all documentation is compliant with relevant policies. The ideal candidate will be collaborative, dependable, inventive, smart, decisive, able to build strong relationships across the company, identify issues and opportunities, create a vision and translate that into action for our Credit team. They will embrace Parachute’s audaciousness and can operate in an agile environment.
Duties & Responsibilities
Review and underwrite assigned loan applications within prescribed authority level
Collect and review all required customer and due diligence documents conducting deep investigation online and using third-party tools available to validate background checks
Analyze loan risk and request additional information; either directly from the customer or through collaboration with internal team members; conduct customer due-diligence interviews
Make loan eligibility recommendations and approve or reject applications within prescribed authority (note that this role does not currently have loan approval authority)
Ensure loan applications are underwritten and adhere to Parachute’s policies, procedures, best practices, and regulatory requirements
Document and efficiently communicate reasons for the approval/rejection of loans
Identify and mitigate AML and fraud risks • Ensure production goals and SLA’s are met
Share best practices and process efficiency recommendations with leadership
5+ years in underwriting within financial services, specific personal lending
Analytical skills, quantification skills, and necessary expertise to identify and assess risk
A critical thinker with strong decision-making and problem-solving abilities
5 + years of experience in a credit risk-based environment
Has excellent time management and prioritization skills
Ability to function in a fast-paced, changing environment with multiple priorities
Sense of ownership and pride in your performance and its impact on company’s success
Highly proficient verbal and written communication skills
Advanced computer skills and proficient in Microsoft Office
Strong interpersonal skills for interacting effectively with key internal and external contacts
About the Gig
A noble, social mission that creates meaningful, fulfilling work
A team that cares deeply for customers and for each other
We’re a company of invested owners
A management team focused on performance, growth, engagement and connection
Passionate customers that believe in us—and what we do
At Parachute, our value of respect in the workplace is founded on seeing diversity as a strength, being inclusive and fostering collaboration. We value diversity and strive to create an inclusive, accessible workplace where all individuals feel valued, respected, and heard.
If you're interested in this position, please send an email with your resume and cover letter to firstname.lastname@example.org.
We truly believe financial well-being should be accessible to all Canadians. Our three step program empowers, educates, and rewards our customers. We offer the only loan where someone can leave with more savings than when they started.