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- Tasks: Lead credit risk management and enhance strategies for our digital credit union.
- Company: Join My Community Bank, the UK's second largest socially responsible Credit Union.
- Benefits: Enjoy a competitive salary and the chance to make a real impact in a dynamic team.
- Why this job: Be part of a mission-driven organisation that values equality and social responsibility.
- Qualifications: Proven experience in credit risk management within financial services is essential.
- Other info: We welcome applications from diverse backgrounds to foster an inclusive workplace.
The predicted salary is between 65000 - 80000 £ per year.
About Us 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. 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.
Responsibilities include:
- 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; 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.
Knowledge of best practices in loan pricing and retail credit and fraud risk.
Experience in risk identification, risk assessment, controls development, monitoring and reporting.
Salary: £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.
Credit Risk Manager - Banks / Financial employer: My Community Bank
Contact Detail:
My Community Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Credit Risk Manager - Banks / Financial
✨Tip Number 1
Network with professionals in the credit risk management field, especially those who have experience in retail banking or credit unions. Attend industry events or webinars to connect with potential colleagues and learn about the latest trends in credit risk.
✨Tip Number 2
Familiarise yourself with My Community Bank's values and mission. Understanding their commitment to social responsibility will help you align your discussions during interviews and demonstrate how your experience can contribute to their goals.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed credit risk in previous roles. Highlight your experience with forecasting defaults and improving risk management strategies, as these are key responsibilities for the role.
✨Tip Number 4
Stay updated on regulatory changes and best practices in credit risk management. Being knowledgeable about current trends will not only enhance your expertise but also show your commitment to continuous improvement in the field.
We think you need these skills to ace Credit Risk Manager - Banks / Financial
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in credit risk management, particularly in financial services. Use specific examples that demonstrate your expertise in loan pricing, fraud risk, and risk assessment.
Craft a Compelling Cover Letter: Write a cover letter that not only outlines your qualifications but also expresses your passion for working with a socially responsible credit union. Mention how your values align with those of My Community Bank.
Highlight Key Achievements: In both your CV and cover letter, include quantifiable achievements related to credit risk management. For instance, discuss how you improved risk assessment processes or contributed to successful audits.
Showcase Your Leadership Skills: As the role involves being a key member of the leadership team, emphasise any previous leadership experiences. Discuss how you've influenced strategy or led teams in your past roles.
How to prepare for a job interview at My Community Bank
✨Understand the Role Thoroughly
Before the interview, make sure you have a solid grasp of what a Credit Risk Manager does, especially in the context of a credit union. Familiarise yourself with the specific responsibilities mentioned in the job description, such as monitoring defaults and enhancing risk management strategies.
✨Showcase Relevant Experience
Be prepared to discuss your previous experience in credit risk management, particularly in retail banking or credit unions. Highlight specific examples where you've successfully identified risks, developed controls, or improved processes, as these will resonate well with the interviewers.
✨Demonstrate Analytical Skills
Since the role involves significant data analysis, be ready to talk about your analytical skills. Discuss any tools or methodologies you’ve used for forecasting defaults or analysing loan portfolios, and how these have contributed to better decision-making in your past roles.
✨Prepare Questions for the Interviewers
Interviews are a two-way street, so prepare insightful questions to ask the interviewers. Inquire about the current challenges the credit union faces in risk management or how they envision the role evolving. This shows your genuine interest in the position and helps you assess if it's the right fit for you.
