Senior Credit Risk Analyst
UK Export Finance
Apply before 11:55 pm on Tuesday 5th November 2024
Details
Reference number
Salary
Job grade
Contract type
Business area
Type of role
Risk Management
Working pattern
Number of jobs available
Contents
Location
About the job
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 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 aerospace and financial institutions (banks & NBFIs).
Senior Credit Risk Analysts (‘SEOs’) are expected to work across these different areas, working for the sector head responsible for each. SEOs develop high quality credit risk assessments of proposed transactions and existing exposures. They produce reasoned and evidence based written arguments to justify their proposed credit ratings (including PDs and LGDs) and must be able to defend their analysis in discussions within the division and at Enterprise Risk and Credit Committee (‘ERiCC’), with the support of the Sector Heads if necessary. They review and advise on the assessments of HEO Credit Risk Analysts as well as peer review assessments produced within the division and may be granted a delegated authority.
SEOs are responsible for managing the case work assigned to them and for maintaining professional relationships within Risk Management Group (‘RMG’), underwriting colleagues and associated stakeholders (e.g. LD, ESG & Climate Change, PPD) keeping them informed of progress and issues on case work.
Job description
Production of high-quality credit analysis (including credit ratings and LGD assessments) with a focus on corporates. Coordination of inputs from multiple teams into credit papers as necessary.
- Assessment of environmental, social and governance risks and climate change risks affecting these corporate transactions, and ensuring these are identified in rating reviews.
- Attendance at external due diligence and negotiation meetings representing Credit Risk.
- Ensuring proposed business is within UKEF risk appetite and advising on acceptable exposure levels.
- Developing subject matter competence on the team’s various sectors and industries.
- Liaising with exporters, foreign buyers, banks, technical experts, advisers and other stakeholders including leading meetings, usually with senior management to understand the business and transaction structure.
- Interrogation and analysis of cash flow models.
- Critical review of external reports (technical, market, insurance etc).
- Active contribution to the ongoing development of UKEF credit risk policies, procedures & frameworks including updates to existing policies and continuous improvement of internal process efficiency.
- Training and up-skilling other analysts (and non-analysts) as required to increase credit risk knowledge across RMG and wider-UKEF.
- Provide credit risk analysis approval for non-binding indications of support.
- Presentation of analysis and recommendation for approval to risk colleagues and ERiCC.
- Where appropriate, day to day management and development of junior staff and secondees within the division.
This list is not exhaustive, and you may be required to carry out additional duties according to business needs.
Person specification
Essential
Qualifications
- GCSE Maths and English equivalent or above, or good numeracy and written skills (A)
Knowledge
- Experience working in a bank, financial institution, aircraft operating lessor, rating agency, export credit agency or other relevant experience (A,I)
- Knowledge of the business models of various types of corporates (A,I)
- Good understanding of financial accounts, in particular those of large corporates, banks and insurance companies, and airlines, including balance sheets, capital structure, P&L and cashflow statements; detailed knowledge of adjustments to assess cashflow, working capital, liquidity and debt sustainability (A,I,T)
- Ability to assess industry and competitor risks within unfamiliar / new sectors (A,I,T)
- Knowledge of a range of credit risk structuring and assessment tools for analysing qualitative and quantitative risk factors to produce probability of default (PDs) ratings and loss given default assessments (LGDs) (A,I,T)
- Proficiency in Microsoft Office (A,I,T)
- Knowledge of latest developments in applicable industries and sectors (A,I,T)
Skills/Ability
- Strong analytical ability (A,I,T)
- Intellectual curiosity, including about how financial institutions, particularly insurers and banks, large corporates, operating lessors and airlines operate (A,I,T)
- Highly numerate with the ability to make use of complex data to reach justifiable judgements (A,I,T)
- Ability to work autonomously in a responsible manner seeking advice when appropriate (A,I)
- Proven planning and organisation skills to manage multiple competing requirements, prioritise work and meet demanding deadlines with minimal supervision (A,I,T)
- Strong written and verbal communication skills, which must include the ability to convey complex information clearly with confidence and credibility (A,I,T)
- Maintain effective professional relationships with colleagues, particularly where interaction is integral to the work of the division (A,I)
Experience
- Demonstrable track record in credit risk from a bank, financial institution, operating lessor, rating agency, export credit agency or other relevant experience (A,I,T)
- Experience of using credit risk rating models and advanced risk measurement techniques in an environment of conflicting priorities to meet tight deadlines (A,I,T)
- Relevant experience of producing LGD estimations (A,I,T)
- Liaising with the management teams (e.g. CEO, CFO level) of the entities being assessed when there are queries about the company or its accounts (A,I)
- Develop the ability to assess financial accounts and produce PD ratings and LGD assessments (A,I,T)
Desirable
Qualifications
- Degree level qualification
Knowledge
- Ability to interrogate a complex cashflow financial models
Experience
- Experience across a range of industry sectors and emerging markets.
Qualifications
Behaviours
We'll assess you against these behaviours during the selection process:
- Making Effective Decisions
- Managing a Quality Service
- Working Together
Technical skills
We'll assess you against these technical skills during the selection process:
- Technical - Exercise
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.
- Statement of suitability - you should fully articulate in 500 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
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 in Appendix 1.
- Technical
- Exercise
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
