Job Description

Details

-----------

Reference number

414360

Salary

110,000
A Civil Service Pension with an employer contribution of 28.97%
GBP

Job grade

Grade 6
Innovate UK Band 1

Contract type

Permanent

Business area

IUK - Business Services

Type of role

Business Management and Improvement

Working pattern

Full-time

Number of jobs available

1

Contents

------------

Location About the job Benefits Things you need to know Apply and further information

Location

------------


Swindon

About the job

-----------------

Job 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.

Job description

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

Shortlisting criteria

(S) - Assessed at shortlisting


(I) - Assessed at interview


(S&I) - Assessed at both shortlisting and interview

Person Specification:

Demonstrating substantial equivalent experience in SME lending and/or investment decisioning in a fund, banking or alternative finance environment and experience in working with early stage, immature and innovating businesses would be beneficial (S&I) Experience in originating and maintaining a portfolio of SME loan assets as a (stretched-) senior and/or mezzanine/structured finance lender (S) Experience in a leadership capacity (I) Proven track record in building, maintaining and leading a high performing team across several technical disciplines through consensus-building, empowerment and coaching (I) 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 (I) 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 (I) 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 (I) Evidence of having helped UK SMEs grow through new products and/or markets (S&I)

Desirable:

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

Skills:

Formulation, delivery and effective management of a loan portfolio in collaboration with a management team Strong decision making skills, balancing the desires of multiple stakeholders Strong credit risk evaluation skills Strong technical and strategic (corporate) finance and risk management capabilities Excellent communicator and negotiator with public presentation skills and gravitas Proven capability to build a team, develop and implement new initiatives within an organisation on a significant scale Ability, flexibility and willingness to thrive in a changing environment, working proactively on new product ideas and processes and providing clarity in areas of expertise Highly self-motivated and able to lead on own initiative whilst in close co-ordination with the wider senior team

Additional Requirements:

Independence:

No external commitments that could be perceived as a conflict of interest or material distraction from the execution of duties.

Benefits

------------


Alongside your salary of 110,000, Innovate UK contributes 31,867 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.Learning and development tailored to your role An environment with flexible working options A culture encouraging inclusion and diversity A Civil Service pension with an employer contribution of 28.97%

Things you need to know

---------------------------

Selection process details

1st Interview incl presentation


Interviews will either take place remotely or in person.



Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a criminal record check.
Successful candidates must meet the security requirements before they can be appointed. The level of security needed is security check .



See our vetting charter .
People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:


UK nationals nationals of the Republic of Ireland nationals of Commonwealth countries who have the right to work in the UK nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS) individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020 Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service
Further information on nationality requirements

Working for the Civil Service

Please note this Post is NOT regulated by the Civil Service Commission.
The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see the Civil Service People Plan and the Civil Service Diversity and Inclusion Strategy .

Apply and further information

---------------------------------


Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

#

Job contact :

Name : Recruitment Team Email : recruitment@ukri.org
#

Recruitment team

* Email : recruitment@ukri.org