Warning
This job advert has expired and applications have closed.
Deputy Director Credit Risk & Portfolio Management
| Posting date: | 06 August 2024 |
|---|---|
| Salary: | £80,001 per year |
| Hours: | Full time |
| Closing date: | 20 August 2024 |
| Location: | Swindon, Wiltshire |
| Remote working: | Hybrid - work remotely up to 2 days per week |
| Company: | Innovate UK |
| Job type: | Permanent |
| Job reference: | JR3754 |
Summary
Job Purpose:
Reporting to the Chief Investment Officer you will have overall responsibility for and leadership of the Credit and Portfolio functions of Innovate UK Loans Ltd. Ensuring adherence to policy and process and implementation of best practice in treating customers fairly and lending responsibly.
Since the inception of the innovation loans product in 2017, over £230 million in innovation loans have been awarded to over 250 highly innovative companies. Portfolio companies cover the full spectrum of the future economy and are distributed across the UK.
In this role, you will be part of the Innovation Finance management team and will also be responsible for representing the activities of the Directorate in policy and funding discussions within internal and external stakeholders and the public. The role may also involve being a director and Board member of the Board of Innovate UK Loans Limited and an executive member of its Credit Committee. You will also take membership of wider groups within IUK and represent the wider Products and Services of Innovate UK.
Key Responsibilities and Accountabilities:
Lead a team of 10 credit and investment specialists and 8 debt portfolio management experts to build and manage a portfolio of high risk, SME loans with mezzanine / structured finance features and controls
Operate a personal delegation for credit, investment and arrears, default and recovery decisions, operating a devolved delegation on behalf of the Chief Investment Officer as required
Support the Heads of Function for Credit and Portfolio to systematise and codify precedent in Innovate UK’s approach to responsible lending and debt management, working within the spirit of the FCA’s Treating Customers Fairly framework
Act as Innovate UK’s technical expert in credit and portfolio management, as part of the wider risk, assurance and governance architecture of the organisation – and provide similar support to UK Research and Innovation, as required
Work as part of the senior leadership team of Innovate UK’s investment directorate in delivering within a product-oriented, customer-insight driven organisation
Engage with the wider organisation and across Innovate UK’s Domains and Products and Services as part of the senior management team, contributing to the growth and development of the organisation.
Build effective working relationships with the senior leadership team across Innovate UK, UKRI and with our governing bodies and other public stakeholders including the Department for Business, Energy & Industrial Strategy and the British Business Bank
Provide thought leadership in key public forums and expert representation in key government forums as part of the Innovate UK senior management team
Attend Credit Committee as an executive member, offering personal opinions and insight into decisions alongside executive and independent members
This is not an exhaustive list and you might be encouraged to undertake any other duties across the wider directorate, commensurate with the Band and level of responsibility of this post, for which the post holder has the key experience and/or training.
Person Specification:
Qualified or demonstrating substantial equivalent experience in SME lending and/or investment decisioning in a fund, banking or alternative finance environment and/or a good degree or professional qualification in a relevant discipline – experience in working with early stage, immature and innovating businesses would be beneficial
Experience in originating and maintaining a portfolio of SME loan assets as a (stretched-) senior and/or mezzanine/structured finance lender
Experience in a leadership capacity
Proven track record in building, maintaining and leading a high performing team across several technical disciplines through consensus-building, empowerment and coaching
Willingness and ability to flex mindset to deliver a portfolio which delivers on the innovation objectives and economic impact of the programme while achieving an overall balance of risk/reward consistent with the risk appetite established by Innovate UK
Experience of working with senior government stakeholders, developing and implementing policy initiatives in the context of Subsidy Control regulation and Managing Public Money contexts; and
Experience in launching new financial products in the public/private sectors at scale, analysing and determining customer requirements and developing appropriate risk and finance strategies
Evidence of having helped UK SMEs grow through new products and/or markets
Understanding of fair value accounting in the context of IFRS9, including benchmarking of loan assets against industry standard models through the credit cycle
Knowledge of the end-to-end credit process from origination through to recoveries through administration and other enforcement processes
Awareness of how innovative businesses grow, evaluation of routes to market and value propositions, comprehensive funding strategies across both debt and equity and commercialisation of new technologies
Politically aware and with proven interest in Innovation policy and practice demonstrated through your professional or personal experiences
Experience in working directly with clients, managing expectations and providing constructive feedback on credit decisions
Knowledge of process management and development, including cash management, forecasting and covenant review
Experience in managing and reporting on a portfolio of loans or investments
Board Experience and/or sound understanding of governance
Reporting to the Chief Investment Officer you will have overall responsibility for and leadership of the Credit and Portfolio functions of Innovate UK Loans Ltd. Ensuring adherence to policy and process and implementation of best practice in treating customers fairly and lending responsibly.
Since the inception of the innovation loans product in 2017, over £230 million in innovation loans have been awarded to over 250 highly innovative companies. Portfolio companies cover the full spectrum of the future economy and are distributed across the UK.
In this role, you will be part of the Innovation Finance management team and will also be responsible for representing the activities of the Directorate in policy and funding discussions within internal and external stakeholders and the public. The role may also involve being a director and Board member of the Board of Innovate UK Loans Limited and an executive member of its Credit Committee. You will also take membership of wider groups within IUK and represent the wider Products and Services of Innovate UK.
Key Responsibilities and Accountabilities:
Lead a team of 10 credit and investment specialists and 8 debt portfolio management experts to build and manage a portfolio of high risk, SME loans with mezzanine / structured finance features and controls
Operate a personal delegation for credit, investment and arrears, default and recovery decisions, operating a devolved delegation on behalf of the Chief Investment Officer as required
Support the Heads of Function for Credit and Portfolio to systematise and codify precedent in Innovate UK’s approach to responsible lending and debt management, working within the spirit of the FCA’s Treating Customers Fairly framework
Act as Innovate UK’s technical expert in credit and portfolio management, as part of the wider risk, assurance and governance architecture of the organisation – and provide similar support to UK Research and Innovation, as required
Work as part of the senior leadership team of Innovate UK’s investment directorate in delivering within a product-oriented, customer-insight driven organisation
Engage with the wider organisation and across Innovate UK’s Domains and Products and Services as part of the senior management team, contributing to the growth and development of the organisation.
Build effective working relationships with the senior leadership team across Innovate UK, UKRI and with our governing bodies and other public stakeholders including the Department for Business, Energy & Industrial Strategy and the British Business Bank
Provide thought leadership in key public forums and expert representation in key government forums as part of the Innovate UK senior management team
Attend Credit Committee as an executive member, offering personal opinions and insight into decisions alongside executive and independent members
This is not an exhaustive list and you might be encouraged to undertake any other duties across the wider directorate, commensurate with the Band and level of responsibility of this post, for which the post holder has the key experience and/or training.
Person Specification:
Qualified or demonstrating substantial equivalent experience in SME lending and/or investment decisioning in a fund, banking or alternative finance environment and/or a good degree or professional qualification in a relevant discipline – experience in working with early stage, immature and innovating businesses would be beneficial
Experience in originating and maintaining a portfolio of SME loan assets as a (stretched-) senior and/or mezzanine/structured finance lender
Experience in a leadership capacity
Proven track record in building, maintaining and leading a high performing team across several technical disciplines through consensus-building, empowerment and coaching
Willingness and ability to flex mindset to deliver a portfolio which delivers on the innovation objectives and economic impact of the programme while achieving an overall balance of risk/reward consistent with the risk appetite established by Innovate UK
Experience of working with senior government stakeholders, developing and implementing policy initiatives in the context of Subsidy Control regulation and Managing Public Money contexts; and
Experience in launching new financial products in the public/private sectors at scale, analysing and determining customer requirements and developing appropriate risk and finance strategies
Evidence of having helped UK SMEs grow through new products and/or markets
Understanding of fair value accounting in the context of IFRS9, including benchmarking of loan assets against industry standard models through the credit cycle
Knowledge of the end-to-end credit process from origination through to recoveries through administration and other enforcement processes
Awareness of how innovative businesses grow, evaluation of routes to market and value propositions, comprehensive funding strategies across both debt and equity and commercialisation of new technologies
Politically aware and with proven interest in Innovation policy and practice demonstrated through your professional or personal experiences
Experience in working directly with clients, managing expectations and providing constructive feedback on credit decisions
Knowledge of process management and development, including cash management, forecasting and covenant review
Experience in managing and reporting on a portfolio of loans or investments
Board Experience and/or sound understanding of governance