Senior Credit Specialist
Innovate UK
Apply before 11:55 pm on Sunday 1st December 2024
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About the job
Job summary
Job Purpose:
Reporting to the Head of Credit, the role is two-fold, covering both leadership of key parts of the credit function and line management of individuals within it; and delivery of loan casework from application to credit decision.
You will be a senior member of the Credit team of Innovate UK Loans Limited, a wholly owned subsidiary of UK Research and Innovation, and of the wider Innovation Finance team within the Innovate UK Products & Services Directorate responsible for:
- Delivering £150m in the future economy innovation loans programme, together with the DASA defence innovation loans programme, during the current spending review period;
- Leadership, development, implementation and continuous improvement of credit and investment risk, and finance (capital and budget management) functions of Innovate UK Loans Limited;
- Design, implementation and continuous improvement of financial capability, capacity and good standing due diligence activities for the investor partnerships programme, covering Angel Networks and Venture Capital firms;
- Development and pilot delivery of the new Catapult Investment programme to support convertible loan note (quasi-equity) investments by Catapults in innovative SMEs to leverage equity investments and generate returns for the benefit of the programme;
Leadership:
As one of a small team of Senior Credit Specialists, you will lead the continuing development of the IUKL credit function including the systems and processes that underpin it. You will also have line management responsibility for other credit staff, supporting their continuing professional development and the continuous improvement of the business.
You will operate a delegated authority for credit decisions, passed down by the Credit Committee, variable subject to experience and performance over time. You will also substitute for the Head of Credit, operating their delegation and acting as a member of the Credit Committee, as required from time to time.
Delivery:
You will take on a case holding of new applicants with an emphasis on leading the most complex and challenging cases. You will undertake credit analysis and make recommendations to Credit Committee on their potential suitability for innovation loan finance. In this, you will be expected to work directly with the leadership of applicant businesses deemed sufficiently innovative to test and prove their viability and growth potential, demonstrating a skillset that straddles commercial debt and equity investment.
We particularly welcome female applicants as women are under-represented within Innovate UK in this type of role.
Job description
Key Responsibilities and Accountabilities:
As a Senior Credit Specialist, you will:
- Continue development of the systems that underpin IUKL’s approach to credit, bringing together internal workflow tracking and credit reporting, with external data to support decision making;
- Act as one of IUKL’s thought leaders on new and emerging technologies in the finance sector, challenging IUKL’s ways of working as appropriate to bring new perspectives and data to bear on decision making;
- Line manage a team of credit specialists and credit analysts in delivering casework and the recruitment, personal development and performance reviews of your direct reports; and
- Operate a personal delegation for lending decisions, under the Credit Committee, to be determined against experience and performance over time – you may also substitute for the Head of Credit and operate their delegation from time to time
You will determine the credit worthiness of applications by:
- Gathering information about clients, going beyond their application to provide insight into the viability of borrowing propositions and commercial forecasts for complex, cutting edge businesses – often pre-revenue and typically pre-profit – both desktop and face to face engagement will be essential
- Maintaining an overview of the broader market for SME finance, and legal, compliance and regulatory issues
- Assessing, analysing and interpreting complex financial information, providing a critical overlay for review by the Credit Committee
- Undertaking credit risk analysis by interpreting financial data and producing sensitivity analyses, but also forming a view on the capability, breadth and quality of the management team
- Working directly with applicants, acting as first point of contact and leading relationship activities
- Contributing to financial reporting on the quality and performance of the loan portfolio, including the application of industry standard metrics (eg. Moody’s, Standard and Poors)
- Making recommendations to credit committee and taking personal accountability for the judgements you present
While you will be expected to apply a commercial level of rigour to your analysis, a successful candidate will also demonstrate an understanding of how strong underwriting practice interacts with the wider policy objectives of addressing a proven gap in the market for funding innovative SMEs.
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
Person Specification:
Qualifications:
- The candidate will have relevant experience in the field of SME credit 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:
Essential –
- A firm grasp of specifying, developing and implementing credit systems in a fast paced environment
- Experience in recommending and/or sanctioning non-credit scored corporate/commercial SME lending or equity investments either on the frontline or in a back office credit role
- Proven financial analysis skills and/or experience in operating financial models to determine portfolio risk
- Experience of making written and oral presentations to internal and external stakeholders
- Experience in sourcing, reviewing and analysing financial information, in particular in the form of audited financial accounts and management accounts
- Commercially aware, with a clear understanding of the drivers of business growth and the costs of delivery
- Experience of leading deal generation from inception through to execution, including a firm grasp of industry standard practice around the prevention, identification and management of financial crimes
Desirable –
- 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
Skills:
- Self-motivated and proactive, ability to work within agreed parameters and deliver to tight timescales in a highly pressured environment
- Strong quantitative and qualitative analysis skills
- Proven team working and project management skills
- Self-organisation skills and a demonstrable ability to manage and prioritise a workload in order to meet tight deadlines
- Strong communication (both written and oral) skills and the ability to produce clear, concise and accurate presentations and written documents
- Strong attention to detail
Competencies:
All team members demonstrate compatibility with and capability against our Core Competencies such as:
Thinking and Problem Solving – Stakeholder management – Communication skills – Influencing – Self-awareness/self-management – Strategic awareness – Working with others– Project management
Travel Requirements:
Field-based: There will a requirement to travel, mostly national, and there is some flexibility in this. Innovate UK staff make extensive use of telepresence tools for meetings to minimise unnecessary travel.
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 employer contribution of 28.97%
Things you need to know
Selection process details
1st Interview incl presentation
Interviews will either tale place remotely via Zoom/Teams or n person face to face
Feedback will only be provided if you attend an interview or assessment.
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Nationality requirements
Working for the Civil Service
Diversity and Inclusion
Apply and further information
Contact point for applicants
Job contact :
- Name : Recruitment Team
- Email : recruitment@ukri.org
Recruitment team
- Email : recruitment@ukri.org
