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- Tasks: Lead credit risk management, monitor defaults, and enhance pricing strategies.
- Company: Join My Community Bank, a leading digital not-for-profit credit union in the UK.
- Benefits: Enjoy a competitive salary, flexible working options, and a chance to make a real impact.
- Why this job: Be part of a dynamic team focused on social responsibility and financial inclusion.
- Qualifications: Experience in credit risk management and knowledge of the UK lending market required.
- Other info: We value diversity and encourage applications from all backgrounds.
The predicted salary is between 65000 - 80000 £ per year.
My Community Bank is the second largest, socially responsible Credit Union in the UK. We are a fully digital not-for-profit lender, offering savings accounts and affordable loans to our members. Our aim is to grow as a viable alternative to high-cost lenders for our members. We are a small and dynamic team, offering you the opportunity to have an immediate impact on the business and grow with us.
The Credit Risk Manager will have 2nd Line of Defence oversight over Credit, Fraud and Pricing within the business. A key member of the leadership team, this executive will assist the CRO in monitoring and enhancing our risk management.
Key responsibilities:- Provide significant input into the shaping of the credit union’s risk management strategy on product types, pricing levels and market segments.
- Act as internal lead for forecasting/tracking defaults and other credit metrics on the loan book, and provide detailed independent scrutiny of loan default and pricing models prepared by third parties.
- Review portfolio analysis by segment to identify potential gaps and monitor performance.
- Recommend and oversee the implementation of business restrictions (e.g. lending appetite by sector/product type/risk rating), and/or process/control improvements where necessary.
- Monitor the credit scorecard; underwriting rules; and end-to-end lending policy to identify and embed improvements.
- Provide significant input at the Pricing Committee and Risk Committees.
- Support internal and external audits.
- Proven experience as a credit risk manager in financial services, ideally retail banking, credit cards or a credit union.
- An understanding of the UK unsecured lending market.
- Knowledge of best practices in loan pricing and retail credit and fraud risk.
- Experience in risk identification, risk assessment, controls development, monitoring and reporting.
- Ability to partner with other senior management and provide robust challenge where appropriate.
- Systematic and logical with strong analytical problem-solving skills.
- Ability to multi-task and prioritise competing requirements and deadlines.
- High level of integrity and dependability.
- Strong interpersonal skills and good communication skills.
- Willingness to work on a wide range of tasks.
Salary range: £65,000-£80,000, depending on experience.
We are committed to equality of opportunity for all staff and applications from individuals are encouraged regardless of age, disability, sex, gender reassignment, sexual orientation, pregnancy and maternity, race, religion or belief and marriage and civil partnerships.
Contact Detail:
My Community Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Credit Risk Manager
✨Tip Number 1
Familiarise yourself with the latest trends in credit risk management, especially within the UK unsecured lending market. This knowledge will not only help you understand the role better but also allow you to engage in meaningful conversations during interviews.
✨Tip Number 2
Network with professionals in the financial services sector, particularly those who have experience in credit unions or retail banking. Attend industry events or join relevant online forums to build connections that could provide insights or referrals.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed credit risk in previous roles. Highlight your analytical problem-solving skills and any improvements you've implemented in risk assessment processes.
✨Tip Number 4
Showcase your ability to collaborate with senior management by preparing examples of how you've effectively communicated risk strategies and recommendations in past positions. This will demonstrate your readiness to be a key member of the leadership team.
We think you need these skills to ace Credit Risk Manager
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Credit Risk Manager position. Tailor your application to highlight relevant experience in credit risk management and your understanding of the UK unsecured lending market.
Craft a Strong CV: Your CV should clearly outline your experience in financial services, particularly in credit risk management. Use specific examples to demonstrate your skills in risk identification, assessment, and controls development. Make sure to include any relevant achievements that showcase your analytical problem-solving abilities.
Write a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the mission of My Community Bank. Highlight how your background aligns with their goals and how you can contribute to their risk management strategy. Be sure to mention your ability to work collaboratively with senior management and your commitment to integrity.
Proofread Your Application: Before submitting your application, take the time to proofread your CV and cover letter. Check for any spelling or grammatical errors, and ensure that your documents are well-structured and easy to read. A polished application reflects your attention to detail and professionalism.
How to prepare for a job interview at My Community Bank
✨Know Your Numbers
As a Credit Risk Manager, you'll need to demonstrate your understanding of credit metrics and risk management strategies. Brush up on key performance indicators related to loan defaults and pricing models, as well as any recent trends in the UK unsecured lending market.
✨Showcase Your Analytical Skills
Prepare to discuss your experience with portfolio analysis and how you've identified gaps in previous roles. Be ready to provide examples of how you've implemented process improvements based on your findings, as this will highlight your systematic approach to problem-solving.
✨Communicate Effectively
Strong interpersonal and communication skills are crucial for this role. Practice articulating complex ideas clearly and concisely, especially when discussing risk assessments or presenting to committees. This will show that you can partner effectively with senior management.
✨Demonstrate Integrity and Dependability
Given the high level of responsibility in this position, it's important to convey your integrity and reliability. Prepare examples from your past work where you've had to make tough decisions or provide robust challenges, showcasing your commitment to ethical practices in risk management.
