Head of Portfolio Management - UK Export Finance

UK EXPORT FINANCE

UKEF is the UK’s export credit agency and founded in 1919 as the world’s first export credit agency, we have been innovative since day one, and now have over 100 years’ track record supporting UK exports. Our mission is to “advance prosperity by ensuring no viable UK export fails for lack of finance and insurance, doing that sustainably and at no net cost to the taxpayer”. To do so we provide loans, guarantees and insurance to help UK companies win overseas sales, fulfil export contracts, and make sure that they get paid. We exist to complement not compete with the private sector, and work with over 100 private credit insurers and lenders.

ABOUT THE ROLE

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. 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 Portfolio Management Division (PMD) is responsible for providing credit reviews, for all non-sovereign, existing risks, creating the probability of default (‘PD’) ratings and loss given default (‘LGD’) for each one.

The Role

This role leads the Portfolio Management Division which is a core area within Risk Management Group of UKEF. The division is responsible for management of a large portion of UKEF’s credit and Sovereign risk portfolio. The activities performed by the Division commence after approvals are granted (by the Risk Approval Division) till repayment / extinguishment of liability. This division includes three principle functions:

• Management of the portfolio of performing cases (Post Issue Management)
• Credit reviews and ongoing monitoring of UKEF's portfolio (Post Issue Credit Risk)
• Management of the ESG factors & stress testing on all cases

We expect this role to add to the intellectual capacity to UKEF’s Risk Management team at the senior leader level and provide an anchor for talent management at the next level from the CRO. As we evolve our risk management function in a more volatile risk environment and develop our expertise in ESG, it is important to have a function that is both scaled and importantly skilled to meet this challenge.

Main Activities

• Leading, Managing and motivating 3 teams (total of approx. 18 FTE); including Managers at Grade 6/7 and a deputy at SCS 1 level.
• As a member of the teams and committee listed below, the role holder is required to provide strong thought leadership coupled with very significant execution capabilities.
• UKEF Senior Leadership Team
• Risk Management Senior Leadership Team
• UKEF Enterprise Risk and Credit Committee (ERiCC)
• Liaising with multiple stakeholders – both within UKEF and outside (within the wider government and in the domain of risk experts at other ECAs, Insurers and Banks).
• Coaching, Mentoring and Leading from the front on the People Agenda.

• Manage a wide range of post-issue Risk Management activities once Credit approvals have been obtained.
• Key activities of the team include: Maintaining a robust system for tracking post-approval conditions, tracking receipt of Financial statements on a periodic basis; Covenant compliance certificates for more structured transactions; analysis of the financial position of the counterparty on an ongoing basis; following up on any breaches in covenants and providing waiver approvals in coordination with Credit approvers; reporting these to management.

• Ongoing monitoring of credit and loss given default for our exposures.
• Reporting deterioration in the credit profile of clients to Credit approvers and Business and pass on ‘risk-ownership’ of the client to the Watch-list and Restructuring credit team in the event there is deterioration of the credit profile of the clients.

• This exciting and developing area manages the development of ESG factors in all credit ratings and credit risks.
• Monitoring industry and ECA developments.
• Developing and reviewing the most appropriate tools and techniques for UKEF to use in decision making.

• Contribute to Risk Management Group policies and strategic projects.
• Demonstration of risk expertise and recognition as a subject matter expert both internally and externally via regular invitations to seminars, events and workshops.
• Deputising for the CRO and for other Risk SLT members including but not limited to UKEF senior management meetings; external events and client/industry seminars; cross Whitehall meetings, Business meetings etc.
• 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.

For further information please contact Nick Irow - 07715 210286