At a Glance
- Tasks: Lead the Credit Risk function to ensure financial stability and effective risk management.
- Company: A leading bank focused on innovation and customer-centric solutions.
- Benefits: Attractive salary, comprehensive benefits, and opportunities for professional growth.
- Other info: Join a dynamic team driving transformation in credit policies and practices.
- Why this job: Make a significant impact on the bank's credit strategy and risk management.
- Qualifications: 10 years in UK financial services with a degree in Finance or related fields.
The predicted salary is between 80000 - 100000 £ per year.
Reporting to the Chief Risk Officer, the role holder will be responsible for ensuring the Credit Risk function meets its objectives of risk control, impairment management, revenue generation through a credit lifecycle, and business enablement, while developing and implementing strategies to safeguard the bank's financial stability.
Key Responsibilities:
- Oversee the identification, assessment, and mitigation of credit risks across the bank's portfolio including personal loans, overdrafts and forward flow funding.
- Ensure credit policies and procedures are robust, align with regulatory requirements, and support the organisation’s strategic objectives, including PD, LGD, EAD, and Expected Loss models.
- Provide oversight and challenge of credit underwriting standards, portfolio balance, and impairment frameworks and models.
- Independently report on quality of the credit portfolio, optimise risk reward balance, and foster a culture of prudent risk management.
- Make contributions to the credit risk appetite process for the Bank.
- Develop the stress testing requirements under the ICAAP.
- Provide credit expertise input into the SWDP and RRP.
- Ensure optimal compliance with PRA/FCA regulations and support regulatory interactions.
- Ensure implementation and compliance of the consumer data protection principles in relation to credit processes.
- Drive transformation initiatives across credit policies, systems, and workflows.
- Lead the credit risk components of New Product Approvals and Annual Reviews.
Individual Conduct Rules:
- Rule 1: You must act with integrity.
- Rule 2: You must act with due skill, care and diligence.
- Rule 3: You must be open and cooperative with the FCA, the PRA and other regulators.
- Rule 4: You must pay due regard to the interests of customers and treat them fairly.
- Rule 5: You must observe proper standards of market conduct.
Requirements:
- 10 years experience within UK financial services.
- A degree in business administration in either Finance, Business, Economics, Mathematics/Statistics.
- In-depth understanding of the credit risk and requirements for both secured and unsecured lending.
- IFRS9 proficient and application.
- Exposure to the other areas of risk management (market risk, enterprise risk management, operational risk, liquidity risk, capital risk etc.) will be an added advantage.
- Previous experience in dealing with the following products: unsecured personal loans, overdrafts and forward flow financing.
Head of Credit Risk employer: Kroo Ltd
As a leading financial institution, we pride ourselves on fostering a dynamic and inclusive work environment that empowers our employees to excel in their careers. The Head of Credit Risk role offers not only competitive remuneration and benefits but also significant opportunities for professional growth and development within the UK financial services sector. Our commitment to integrity and excellence ensures that you will be part of a team that values your contributions while prioritising the stability and success of our organisation.
StudySmarter Expert Advice🤫
We think this is how you could land Head of Credit Risk
✨Tip Number 1
Network like a pro! Reach out to your connections in the finance sector, especially those who work in credit risk. A friendly chat can lead to insider info about job openings or even a referral.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of credit risk models and regulations. We recommend practising common interview questions related to risk management to show you’re the right fit for the role.
✨Tip Number 3
Don’t just apply anywhere; focus on companies that align with your values and career goals. Check out our website for tailored job listings that match your expertise in credit risk!
✨Tip Number 4
Follow up after interviews! A quick thank-you email can keep you top of mind and show your enthusiasm for the position. It’s a small gesture that can make a big difference.
We think you need these skills to ace Head of Credit Risk
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Head of Credit Risk role. Highlight your experience in credit risk management, especially with personal loans and overdrafts. We want to see how your skills align with our objectives!
Craft a Compelling Cover Letter:Your cover letter should tell us why you're the perfect fit for this role. Share specific examples of how you've managed credit risks and contributed to financial stability in previous positions. Let your personality shine through!
Showcase Your Regulatory Knowledge:Since compliance is key, make sure to mention your understanding of PRA/FCA regulations and how you've implemented them in past roles. We love candidates who can navigate the regulatory landscape with ease!
Apply Through Our Website:Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. We can’t wait to see what you bring to the table!
How to prepare for a job interview at Kroo Ltd
✨Know Your Credit Risk Stuff
Make sure you brush up on your knowledge of credit risk management, especially around secured and unsecured lending. Be ready to discuss specific models like PD, LGD, and EAD, as well as how they apply to the bank's portfolio.
✨Showcase Your Regulatory Know-How
Familiarise yourself with PRA/FCA regulations and be prepared to talk about how you've ensured compliance in previous roles. Highlight any experience you have with consumer data protection principles related to credit processes.
✨Demonstrate Strategic Thinking
Think about how you can contribute to the bank's strategic objectives. Prepare examples of how you've developed or implemented strategies that improved risk control or revenue generation in past positions.
✨Be Ready for Scenario Questions
Expect to face scenario-based questions that test your ability to identify, assess, and mitigate credit risks. Practice articulating your thought process and decision-making skills in these situations.
