Head of Direct Banking Operations & Outsourcing - Milton Keynes in Stondon

About The Role

SALARY: From £102k pa dependent on experience

LOCATION: Milton Keynes

HYBRID WORKING: Our current hybrid working policy requires a minimum of 60% of working time to be based in the Milton Keynes office and flexibility is expected to meet the needs of the business and the role.

HOURS / CONTRACT TYPE: Full Time Permanent – 35 hours per week

We are seeking an experienced and strategic leader to join our team as Head of Direct Banking Operations & Outsourcing. This is a pivotal role responsible for overseeing the end-to-end operations of our Direct Banking division, ensuring exceptional service delivery, operational efficiency and compliance across all outsourced partnerships and intra-group service arrangements, while meeting our obligations under Consumer Duty. You will lead a high-performing team, manage critical third-party relationships and drive operational excellence to support our customers and business objectives. This role requires a strong blend of leadership, operational expertise and supplier management skills, with a focus on continuous improvement, innovation and a clear accountability for operational resilience. This role holds Senior Manager Function (SMF24) responsibility under the SM&CR (Senior Manager & Certification Regime) and therefore obtaining and maintaining regulatory approval is a mandatory requirement.

What you’ll be doing:

• Lead and manage the Direct Banking Operations function, ensuring the delivery of high-quality, efficient and customer-focused services.
• Oversee outsourced operations, taking full responsibility for managing third-party providers and intra-group service delivery.
• Drive operational excellence through continuous improvement initiatives, identifying opportunities to streamline processes, enhance productivity and leverage automation and technology solutions.
• Ensure compliance with regulatory requirements and internal governance standards across all operational activities.
• Manage operational risk effectively, implementing comprehensive risk management frameworks and monitoring mechanisms.
• Build and maintain strong relationships with key stakeholders, including outsourced partners, internal teams and senior leadership.
• Develop and implement strategies to enhance customer experience and operational efficiency.
• Provide leadership and direction to the operations team, creating an environment that promotes accountability, engagement and high performance.

Essential experience & skills:

• Extensive experience in managing third-party and outsourced relationships, including acting as a Material Outsource for a UK Bank or Building Society.
• Experience of managing and developing savings operational functions, with a track record of achieving high-quality customer outcomes.
• Deep familiarity with the regulatory regime applicable to UK savings operations, including PRA and FCA requirements and the Consumer Duty framework.
• Customer-centric mindset, with demonstrable knowledge and consideration of customer outcomes in all operational decisions.
• Exceptional relationship-building skills, with the ability to create, maintain, and leverage strong partnerships across internal functions and external parties.
• Understanding of and experience managing first-line risk functions, including conducting risk assessments, implementing controls, and producing accurate reporting.
• Ability to manage data governance effectively, ensuring data quality, accuracy, and compliance with regulatory standards.
• Proven track record in delivering change, both through internal teams and external partners.
• Experience of successfully leading a team, achieving results through people by providing clear direction, motivation, and support.

What’s in it for you?

• Bonus: Discretionary 25% on-target bonus (based on personal and Group company performance)
• Pension: Employer pension contribution of 9% (based on employee contribution of 3%). VWFS will pay 6% if employee chooses a 2% employee contribution.
• Car schemes: Choice of Employee Car Ownership (ECO) scheme for petrol/diesel and hybrid vehicles plus car insurance and fuel card. OR Company Car scheme for Battery Electric Vehicles (BEVs) plus car insurance cover for you and a partner/eligible family member.
• Other benefits: From day 1 we provide income protection, life assurance (4x salary), retail discount vouchers, access to Care Concierge, along with other salary sacrifice options.
• We invest in our people and are passionate about driving development.

VWFS is proud to be an inclusive employer and encourages applications from a diverse range of candidates. Diversity, Equity & Inclusion isn’t just a statement for us, we encourage and aspire for all our colleagues to be their 100% self.