head of credit risk oversight

Posted 24 May 2023
Job type Permanent
Contact NameRichard Williams

Job description

Head of Group Credit Insight and Control

Location:  Remote – work from anywhere within the UK

As we transform our team into one that is ready to meet the challenges of the future, setting us up to support our ambition to disrupt the status quo and turn traditional banking on its head. We’re on the lookout for like-minded individuals and innovators to help drive our strategy forward. We’re also transforming how we work, offering our colleagues more choice, control and flexibility to live and work how they choose with A Life More Virgin.

Here’s what it means for YOU:

  • 38.5 days annual leave for all colleagues (including bank holidays and pro rata if part-time)?
  • Up to five extra paid well-being days per year?
  • A 35-hour working week
  • 20 weeks paid, gender neutral family leave (52 weeks in total) for expectant parents and those looking to adopt
  • Market leading Pension & Private Medical Insurance
  • Flexible benefits including Cycle to Work, Wellness & Health Assessments and Critical Illness
  • Ability to work anywhere in the UK? (where the role allows)

And you get these Red-Hot Rewards from day one!

We‘re on the lookout for a Head of Insight & Control to join our Credit Risk team, where you’ll report to the Chief Credit Officer (CCO) and will be a key member of the Credit Leadership team.

The CCO is accountable for Credit Risk across VM and you’ll be required to deliver credit risk insight both internally and externally, as well as delivering functional requirements (including governance, engagement and prioritisation, process, and controls). You’ll support the delivery of these key objectives, working and collaborating with many stakeholders across Credit Risk and beyond.  You’ll use your insatiable curiosity to drive change, find new ways of working, making processes more efficient whilst delivering our values and behaviours to get the best out of the team. If this sounds like you, then keep reading!

Day to day you’ll:

  • Focus on three areas of accountability:
    • Supporting the CCO to deliver credit portfolio insights, including external horizon scanning, as well developing the Credit Risk Strategy.
    • Leading credit engagement, and operational effectiveness of Credit Risk, as well as the control environment.
    • Providing oversight of international financial reporting standard (IFRS 9), credit risk weighted assets (RWA) and stress testing. 
  • Liaise with the PRA and FCA, Rating Agencies, Risk Specialists/Consultants and industry forums, representing VM. You‘ll also provide credit risk insight versus competitors and in response to regulatory change, external industry developments and horizon scanning.
  • Continually review, oversee, and challenge the quality of VM’s lending portfolio.
  • Develop and lead the risk appetite statement methodology to ensure safe development of the Credit portfolio, whilst delivering high standard analysis and insight.
  • Drive the change agenda across Credit Risk, providing opportunities to simplify and streamline internal credit processes.
  • Work with the CCO and Credit Leadership Team to lead and drive strategic initiatives within the function, including the change agenda.
  • Ensure pan credit focus on key priorities and backlog management (consistent with agile methodologies).
  • Lead delivery of credit communications, credit senior leadership and credit events, as well as function wide training strategy.
  • Manage and oversee the risk profile of credit, including maintaining oversight of operational risks and portal.
  • Champion efficiency and integration of credit systems landscape, supporting investment cases where required.
  • Lead the definition and ongoing tracking and management of Credit Risk plan and actions ensuring continuous improvement, efficiencies, and increased productivity.
  • Be accountable for effective oversight of IFRS 9 provisions, credit stress testing and credit RWA calculations, and broader oversight of the internal ratings based (IRB) rating system including impacts of related change activity on data, systems, and processes.

 To be brilliant you must have:

  • Significant senior experience within the Financial Services industry gained over several years in a variety of roles.
  • Strong analytical capability and ability to turn complex and diverse results into readily understandable presentations.
  • A desire to challenge the “norm” to drive change and embrace new ways of working.
  • A track record of building relationships with a variety of senior business leaders, including those outside of direct area of influence.
  • Experience of being a strong team player with leadership capabilities to lead and drive cultural and business change, leading and developing people.
  • Broad experience in collaborating and networking with other areas within the Bank/wider organisations.    
  • An insatiable curiosity to interpret the impact of industry, regulatory and economic factors, and events on Banking.
  • Demonstrable experience of applying and coaching improvement with positive results.
  • Strong people development and resource management skills.
  • Excellent influencing skills with proven ability to deliver persuasive, credible presentations.
  • Experience of identifying risks and resolving issues as well as mitigating risk and managing dependencies.
  • Proven executive management experience, particularly with regard to influencing often complex trade-offs between risk and reward. Includes strong risk recognition skills, incorporating complex transactions and ability to recognise early warning signals and the impact on the portfolio.
  • Proven track record for implementation and delivery.
  • Energetic and positive communicator with strong facilitation and presentation skills.
  • Ability to form and present a balanced point of view that is credible and honest.