75,000 - 97,000
A Civil Service Pension with an employer contribution of 28.97%
GBP
Job grade
SCS Pay Band 1
Contract type
Permanent
Business area
UKEF - Risk Management Group - Risk Approval Division
Type of role
Other
Working pattern
Flexible working, Full-time
Number of jobs available
1
Contents
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Location
About the job
Benefits
Things you need to know
Apply and further information
Location
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Westminster, London
About the job
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Job summary
The principal role of the Department is to support UK companies exporting to foreign markets by providing insurance, loans and guarantees against non-payment or non-performance by UK exporters and overseas buyers. To perform its statutory function, UKEF must assume significant credit risks on behalf of UK exporters. Consequently, the financial success of the Department is crucially dependent upon sound credit risk assessment, particularly given the elevated default risks associated with emerging markets.
The Risk Management Group ('RMG'), under the leadership of the Chief Risk Officer ('CRO') is responsible for the management of UKEF's risk portfolio (c.55bn), including new business credit risk assessments (c.3bn p.a.). RMG operates via 5 Divisions, responsible for Enterprise Risk Management, Risk Assessment, Analysis (Pricing & Portfolio Risk, Operational Research & Analysis, and Economics & Country Risk), Portfolio Management, and Restructuring, Claims & Recoveries.
The Risk Assessment Division ('RAD') is responsible for providing probability of default ('PD') ratings and loss given default ('LGD') assessments on all non-sovereign risks assumed by the Department. RAD's case work is split currently into three teams: Corporates and Strategic sectors; Project Finance; and Specialised Products Risk (Aerospace and Financial Institutions (banks & NBFIs) & APM).
Job description
The Specialised Products Risk Team encompasses Aerospace, Aircraft Operating Lessors, Bank & Non-Bank Financial Institutions, Insurance obligors and Active Portfolio Management (APM). The role reports into the Head of RAD.
The Head of Specialised Products Risk is responsible for the leadership, motivation and management of the team within RAD. The role oversees, and is responsible ultimately for, the accurate credit assessment, analysis and due diligence of both new and existing exposures within the team's sectors. The role holder has extensive practical knowledge and experience of these areas and is responsible for managing all transactions from inception to signature. The role holder is also responsible for the ongoing portfolio management and monitoring of the counterparties. In addition, the role holder leads (internal and external) risk-focussed meetings and discussions on more complex cases which may include novel features and extensive structuring. The role holder is also responsible for the credit risk approval of cases, including the onboarding of eligible counterparties, within their Delegated Authority. Finally the role holder is also responsible for the structuring and placement of insurance tranches in the private insurance market.
This role involves extensive interaction, not only with the Business Origination and Underwriting teams, but also with the divisions within RMG, notably Portfolio Management Division - to which transactions are handed over post-closing by Business Group. Given the implication of incremental exposure to the UKEF portfolio, the relationship with the Analysis Division's teams is especially important.
The Head of Specialised Products Risk role is expected to add to the intellectual capacity of UKEF's Risk Management team at a senior leader level and provide an anchor for talent management to higher grades. As UKEF moves into more challenging risk sectors and environments, it is important to have a function that is both scaled and skilled to meet this challenge.
Main Activities:
Leading, managing and motivating their team in the production of high quality and timely credit analysis. This may involve complex structures, transactions with novel and unusual features including climate change considerations, particularly in the insurance, aerospace and, increasingly, the NBFI sectors.
Exercising credit approval - within the terms of delegation from CRO or Head of RAD. The role also includes the provision of high-quality recommendations to the Head of RAD and the Enterprise Risk & Credit Committee ('ERiCC') where delegated authority is exceeded.
Responsibility, accountability and approval for the ongoing monitoring from a credit risk and ratings perspective for the Aerospace, Aircraft Operating Lessors, Bank & Non-Bank Financial Institutions, and Insurance Obligors and counterparties within UKEF. This includes, inter alia, providing input into the design and implementation of a more comprehensive monitoring framework to respond to the increased number and complexity of UKEF obligors and counterparties.
Oversight over the APM team's activities, monitoring of the existing Insured Portfolio, structuring and placement of new transactions, consideration/execution of alternative risk transfer methods.
Oversight over procurement activities, and contract management for (some) the contracts owned within RAD.
Liaising with multiple stakeholders - most notably Business Group and external clients - but also numerous internal stakeholders including Legal Division, and Underwriting Products & Policy Division.
Taking senior leadership roles within external meetings to ensure that new proposed business is optimally structured and firmly within UKEF's predetermined risk appetite.
Ensuring that all submissions to ERiCC are succinct, well structured, coherent, logical and fit for purpose.
Identifying and providing solutions relating to addressing credit training both within RAD and Risk Management Group more broadly.
Continuously demonstrating subject matter expertise within the relevant sector franchises. Recognition as subject matter expert both internally, particularly by RMG, Business Group staff and externally.
Deputising for the Head of RAD, where appropriate including, but not limited to, RMG Senior Leadership Management meetings and leading the RAD senior leadership team meetings.
As part of the RAD and RMG senior leadership teams, to help develop, particularly through role modelling relevant behaviours, cross-departmental (and asset class) collaboration and teamwork.
Continuing review, formulation as required, and improvements to policies, frameworks and processes affecting the relevant franchises as well as the wider RAD and RMG. Contribute to, and lead as directed, Risk Management Group strategic projects.
Budget authority as above.
This list is not exhaustive; the role holder may be required to carry out additional duties according to business need.
Person specification
Essential
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Qualifications
GCSE Maths and English equivalent or above, or good numeracy and written skills
(A)
Evidence of continuing professional development
(A)
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Knowledge
Significant knowledge (gained through experience) of structured and vanilla credit analysis:
Excellent understanding of financial accounts including balance sheet, P&L and cash flow statements; detailed knowledge of adjustments to assess cash flow, working capital, liquidity and debt sustainability;
(A, I)
Extensive theoretical and practical knowledge and understanding of Aerospace, Bank, NBFI, and Insurance Company analysis and market and key credit risks; demonstrable track record of analysing, structuring and closing complex transactions
(A, I)
Extensive knowledge and understanding of the Aerospace, Bank, NBFI, and Insurance Company sectors; ability to assess associated industry risks;
(A, I)
Expert knowledge of a range of credit risk structuring and assessment tools for analysing qualitative and quantitative risk factors to produce PD and LGD assessments; Good understanding of risk transfer methods
(A, I)
Detailed practical knowledge and understanding of transaction structuring including the use of covenants.
(A, I)
Moderate knowledge of and experience in, portfolio risk modelling including portfolio stress testing. Proficiency in Microsoft Office, especially Excel.
(A)
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Skills/Ability
Skilled and competent leader. Ability to effectively manage, motivate and co-ordinate a team to work productively, efficiently and produce high quality research and analytical outputs in a timely fashion.
(A, I)
Strong analytical ability. Ability to interpret complex data to reach justifiable judgements.
(A, I)
Capable of taking commercial decisions, appropriately balancing risk and reward.
(A, I)
Proven planning and organisation skills to manage competing priorities meeting demanding deadlines in a timely fashion.
(A, I)
Strong written and verbal communication skills, which must include the ability to lead meetings and negotiations, conveying complex information clearly with confidence and credibility.
(A, I)
Ability to maintain effective professional relationships with colleagues, within the division and across the Department.
(A, I)
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Experience
Demonstrable experience in credit risk and line management from a bank, financial institution, operating lessor, rating agency or export credit agency.
(A, I)
Dealing with senior external customers/stakeholders.
(A, I)
Experience of using credit risk rating models and advanced risk measurement techniques in an environment of conflicting priorities to meet tight deadlines.
(A, I)
Recent relevant experience of producing LGD estimations.
(A, I)
Extensive experience of working across a broad range of transaction and product types, negotiating complex loan documentation in close collaboration with lawyers.
(A, I)
Knowledge and understanding of secondary market products such as derivatives, securitisation and asset sales / reinsurance.
(A, I)
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Other Requirements
The role may require overseas travel
Desirable
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Qualifications
Degree educated or significant relevant financial sector experience
(A)
Membership of a Professional body: Chartered Association of Banking
(A)
Institute of Exports
(A)
Contract management qualifications and/or willingness to undertake one
(A)
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Knowledge
Detailed knowledge of UKEF's credit risk polices and environment.
(A, I)
Understanding of UKEF products and underwriting policies.
(A, I)
Knowledge of latest developments in applicable industries and sectors.
(A, I)
Good understanding of the OECD rules related to export finance.
(A, I)
Understanding of processes which relate to risk assessment, underwriting, negotiation, deal execution and post-issue matters.
(A, I)
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Skills/Ability
As above
#
Experience
Understanding of UK public contract regulation and experience operating contract management
(A)
Good understanding of the operation of private Insurance markets
(A, I)
Qualifications
GCSE Maths and English equivalent or above, or good numeracy and written skills
Evidence of continuing professional development
Behaviours
We'll assess you against these behaviours during the selection process:
Making Effective Decisions
Delivering at Pace
Leadership
Technical skills
We'll assess you against these technical skills during the selection process:
Presentation - the topic of which will be decided by UKEF and be provided in advance of the interview
Benefits
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Alongside your salary of 75,000, UK Export Finance contributes 21,727 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
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Selection process details
This vacancy is using Success Profiles , and will assess your Behaviours, Experience and Technical skills.
The application must be completed by 23.55 on the day of the closing date for it to be accepted.
Use of Artificial Intelligence (AI)
At UKEF we value authenticity. You should not use AI to present and/or plagiarise the ideas and experiences of others. Therefore, you must ensure that any evidence submitted as part of your application or used during an interview is both truthful and factually accurate. Applications may be rejected at any stage of the selection process if plagiarism is detected.
Appendix 2
provides guidelines on what we feel is / is not acceptable use of AI.
All applications will be sifted against our essential criteria outlined in the personal specification.
CV and covering letter, via our recruitment partner, which needs to detail how you meet the essential criteria
For the initial sift your application will be evaluated against:
Experience - CV and covering letter
If you are successful following the sift stage, you will be invited to an initial interview; this will include the following assessment:
Behaviours / Experience - a formal panel interview where you will be interviewed across all
three
behaviours highlighted.
Technical - you will be assessed across your technical expertise and acumen, in relation to the essential criteria:
+ Presentation - the topic of which will be decided by UKEF and be provided in advance of the interview
If you are successful following the 1st Interview, you will be invited to a further assessment:
Staff Engagement Exercise - details of which will be provided in advance of the agreed date
Following the Staff Engagement Exercise, and subject to candidate success, a further, less formal meeting will be held. If anything is required in advance of the meeting you will be informed along with who you would be meeting from UKEF's senior leadership team.
Details of interview panel members will be e-mailed to all successful candidates who are invited for interview.
Feedback will only be provided if you attend an interview or assessment.
This role has a minimum assignment duration of 3 years. An assignment duration is the period of time a Senior Civil Servant is expected to remain in the same post to enable them to deliver on the agreed key business outcomes. The assignment duration also supports your career through building your depth of expertise.
As part of accepting this role you will be agreeing to the expected assignment duration set out above. This will not result in a contractual change to your terms and conditions. Please note this is an expectation only, it is not something which is written into your terms and conditions or indeed which the employing organisation or you are bound by. It will depend on your personal circumstances at a particular time and business needs, for example, would not preclude any absence like family friendly leave. It is nonetheless an important expectation, which is why we ask you to confirm you agree to the assignment duration set out above.
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
The Civil Service Code sets out the standards of behaviour expected of civil servants.
We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles .
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.
The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.
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
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This vacancy is part of the Great Place to Work for Veterans initiative.
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
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Job contact :
Name : Nick Irow
Email : nick.irow@hays.com
Telephone : 07715210286
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Recruitment team
Email : Recruitment2@ukexportfinance.gov.uk
Further information
Should you have a complaint or wish to raise any concerns regarding the recruitment process, please e-mail your complaint to the Head of Pay and Resourcing (UKEF) at Recruitment2@ukexportfinance.gov.uk and include "Complaint" in the subject heading. Should you remain dissatisfied following UKEF's investigation then you can refer your complaint to the Commission - http://civilservicecommission.independent.gov.uk/making-complaint.
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