Head of Active Portfolio Management
UK Export Finance
Apply before 11:55 pm on Sunday 22nd September 2024
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Debt Management
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Risk Management
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About the job
Job summary
The Portfolio Management Division (PMD) is one of the four Divisions within UKEF’s Risk Management Group (RMG). PMD is a centre of excellence for monitoring customers and exporters after they have been approved by credit officers or UKEF’s Enterprise Risk & Credit Committee (ERiCC). The Division provides a clear demarcation of the first and second line of defence roles, which are fundamental to risk management and allows UKEF to be even more proactive in managing emerging risks in the portfolio and taking expedient action to mitigate them.
- Active Portfolio Management (APM) – see below.
- Post-Issue Management (PIM) – Monitors UKEF’s Medium- to Long-Term (MLT) transactions after the guarantee has been issued. There are currently around 130 deals totalling over £25bn.
- Credit Risk Management (CRM) – Responsible for ongoing credit risk monitoring for existing deals (Large Corporate & Aero), including annual rating reviews and assessment of Loss Given Defaults (LGDs) for these entities.
- Climate & ESG Risk (CESG) – Responsible for UKEF's climate change and ESG (Environmental, Social and Governance) risks management related to financial and credit risk.
The APM Branch identifies packages and transfers UKEF risk with financial intermediaries. Once transactions have been approved, APM monitors risk concentration and explores methods to reduce portfolio risk. APM works closely with all aspects of the business to develop a co-ordinated strategy to optimise UKEF’s use of funds. APM delivers two key benefits: increases capacity under country limits; and reduce the likelihood of cash-calls on the exchequer. APM supports UK exporters and ensures this is carried out in the most cost-efficient way.
This role is the Head of APM who will have the responsibility for the day-to-day operational leadership for UKEF’s portfolio management activities. The Postholder will be responsible for oversight of UKEF’s £1.5bn book of private market re-insurance.
The portfolio covers tranches of existing agreements, with different clauses and insurers. There are 8 tranches so far, each tranche covers multiple loans to overseas buyers, both Sovereign and Corporate, and extends for up to nine years from the date of signature.
We expect this role to add to the intellectual capacity of UKEF’s Risk Management team at the senior leader level and provide an anchor for talent management. As we move onwards into more challenging risk environments, it is important to have a function that is agile and forward looking.
Job description
Leadership and Management
- Leading, Managing and motivating the APM team (total of approx. 2 FTE).
- Management of the team to ensure all existing portfolio management tools and managed, controlled and maintained.
- Management of the team to identify and prepare portfolio opportunities for UKEF.
- Management of the team to prepare opportunities, present and engage with financial counterparties.
- Managing the team to deliver any necessary procurement activities.
- Engaging at Senior levels across UKEF, Financial Institutions, Exporters, overseas buyers and UK counterparties. As well as industry professionals to understand and review potential portfolio options for UKEF.
- Liaising with multiple stakeholders – both within UKEF and outside (within the wider government - notably HM Treasury (HMT) and UK Government & Investments (UKGI) - and in the domain of risk experts, such as other Export Credit Agencies (ECAs), Insurers and Banks). This is another core aspect of the role given we need to be at the forefront of Industry best practices. Internal stakeholders include - BG, CFOO, LCG, SSIG, ERiCC and the Audit Committee (AC).
- Coaching, Mentoring and Leading from the front on the People Agenda. Provide guidance to team members, to develop their technical, project management and negotiating skills as well as their wider analytical skill set. Actively contributing to the One Risk One Team Agenda for RMG.
Specific activities within the Head of Active Portfolio Management responsibility:
- Overseeing and ensuring any changes to existing private market cases are done consistently and reported to the private insurance partners. Following the correct procedures in the documented agreements. Dealing with any questions or challenges from the private reinsurers.
- Managing the relationship with our appointed broker, the standby broker and private market insurance companies who bid on our transactions.
- Responsible for reviewing the portfolio of existing and future transactions. Selecting appropriate transactions for private insurance. Analysing the VFM and portfolio impacts using complex modelling and industry benchmarks. Managing the process to ensure UKEF can take most appropriate tranches (bundles of deals) through to the market. Managing the market responses, requirements and information flows to deliver signed insurances to UKEF.
- Responsible for ensuring UKEF upholds its side of the agreements and acts appropriately. Managing responses through the various agreements and laws relevant to insurances.
- Analyse, review and propose risk management options for UKEF. Managing the process through the risk acceptance and review.
- Engagement with industry experts, brokers, insurance providers to ensure our proposals are understood and managed appropriately.
- Use commercial judgement and risk expertise when negotiating structures and deal proposals.
- Oversee, and seek continual improvement of; the policy environment, processes and controls across the Branch.
- Provide efficient, timely and collaborative service and risk expertise to key stakeholders as required, including but not limited to BG, PIM, Enterprise Risk Division (ERD), ERiCC, AC, Risk Committee (RC), Executive Committee (EC), the Board, and other Civil Service departments.
- Ensure that staff are trained, and continue to be trained, with the appropriate skillset to analyse appropriately the multiple asset classes on which UKEF is asked to opine.
- The postholder will be expected to obtain relevant contract management qualifications within 12 to 18 months of appointment.
General
- Contribute to RMG’s policies and strategic projects.
- Personal Delegated Authority up to £tbd (dependent upon relevant experience)
- Budget authority in line with business requirements.
This list is not exhaustive, and you may be required to carry out additional duties according to business needs.
Person specification
Essential
Qualifications
- No specific qualifications are required, however candidates should demonstrate evidence of continuing professional development in credit ratings and loss given default (A)
- 5 GCSE passes (including Maths and English) at Grade 4 (C) or above; or equivalent or relevant demonstrable experience (A)
Knowledge
- Understanding of portfolio risk and associated risk management (A, I)
- Detailed understanding of the international financial architecture (A, I)
- Understanding of fundamental macroeconomic concepts, indicators, and methodologies, with the ability to apply to pricing & portfolio analysis (A, I)
- Knowledge of international policy development and governance processes and broader international financial system (A, I)
- Knowledge of stakeholder environment and potential challenges, including reputational and public relations risks associated with typical ECA products (A, I)
- Macroeconomic & Credit literacy, an understanding of key economic concepts underpinning lending & guarantee structural concepts and operation of financial markets (A, I)
Skills/Ability
- An ability to be a critical consumer of macroeconomic forecasts, trends, IMF debt sustainability analyses, and UKEF country risk reports (A, I)
- Able to communicate and present complex ideas to a varied audience (A, I)
- Skilled negotiator, holding firm on redlines while responding to a dynamic multilateral discussion (A, I)
- Proven planning and organisation skills to manage multiple competing requirements, prioritise work and meet demanding deadlines (I)
- Ability to manage effectively both internal and external Stakeholders (I)
- Analytical and problem-solving skills and ability to engage in complex problem solving (I)
- Ability to produce high quality and robust financial analysis and financial calculations (I)
- Ability to work autonomously in a responsible manner seeking advice when appropriate (I)
- Effective Line and team management skills, an open and development-focused leader with an invested interest in the team’s wellbeing (I)
Experience
- Experience in working in a portfolio management or credit risk management role, in a finance, insurance, legal or government environment (A, I)
- Experience of loan documentation and contractual renegotiation (I)
- Experience working with legal teams on contractual renegotiation and implementation (A, I)
- Experience of leading, managing and developing small teams (I)
Desirable
Qualifications
- Degree educated or significant relevant credit rating and loss given default experience in a similar organisation (A, I)
Knowledge
- Awareness of export credit agency loan documentation (A, I)
- Knowledge of UKEF product suite UK Export Finance: Leading with finance product brochure UK Export Finance: Leading with finance product brochure - GOV.UK (www.gov.uk) and commercial stakeholder management (A, I)
- Knowledge of UK Civil service governance processes Our governance - Civil Service - GOV.UK (www.gov.uk) and Our governance - UK Export Finance - GOV.UK (www.gov.uk) (A, I)
Experience
- Experience of managing export credit agency loan documentation in post issue (A, I)
- Contract management experience or relevant contract management qualifications (A, I)
Qualifications
• 5 GCSE passes (including Maths and English) at Grade 4 (C) or above; or equivalent or relevant demonstrable experience (A)
Behaviours
We'll assess you against these behaviours during the selection process:
- Seeing the Big Picture
- Making Effective Decisions
- Leadership
- Communicating and Influencing
We only ask for evidence of these behaviours on your application form:
- Leadership
Technical skills
We'll assess you against these technical skills during the selection process:
- Presentation, the topic will be decided by UKEF and shared with candidates in advance.
Benefits
- 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 average employer contribution of 27%
Things you need to know
Selection process details
We are assessing candidates using Success Profiles (see Appendix 1) and across the whole process we will assess your Experience, Technical and Behaviours as highlighted below.
The application must be completed by 23.55 on the day of the closing date for it to be accepted.
All applications will be sifted against our essential criteria outlined in the personal specification in the Information Pack.
- Behaviour statement - 250 word statement on the lead behaviour, Leadership
- Statement of suitability - you should fully articulate in 750 words how you meet the essential criteria outlined in the person specification within the Information Pack.
For the initial sift your application will be evaluated against:
- Experience - Application and Statement of Suitability
- Behaviours - 250 word statement on the lead behaviour, Leadership
In the event of a large volume of applications, a pre-sift will be carried out on the behaviour statement, those passing this will then proceed to the full sift.
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 four behaviours highlighted below.
- Seeing the Big Picture
- Making Effective Decisions
- Leadership
- Communicating and Influencing
- Technical
- Presentation, the topic will be decided by UKEF and shared with candidates in advance.
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.
Security
Nationality requirements
Working for the Civil Service
We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).
Diversity and Inclusion
Apply and further information
Contact point for applicants
Job contact :
- Name : UKEF Resourcing Team
- Email : Recruitment2@ukexportfinance.gov.uk
Recruitment team
- Email : Recruitment2@ukexportfinance.gov.uk
Further information
