Delivering £150m in the future economy innovation loans programme, together with the DASA defence innovation loans programme, dur.....
Delivering £150m in the future economy innovation loans programme, together with the DASA defence innovation loans programme, during the current spending review period;
Leadership, development, implementation and continuous improvement of credit and investment risk, and finance (capital and budget management) functions of Innovate UK Loans Limited;
Design, implementation and continuous improvement of financial capability, capacity and good standing due diligence activities for the investor partnerships programme, covering Angel Networks and Venture Capital firms;
Development and pilot delivery of the new Catapult Investment programme to support convertible loan note (quasi-equity) investments by Catapults in innovative SMEs to leverage equity investments and generate returns for the benefit of the programme;
Leadership:
As one of a small team of Senior Credit Specialists, you will lead the continuing development of the IUKL credit function including the systems and processes that underpin it. You will also have line management responsibility for other credit staff, supporting their continuing professional development and the continuous improvement of the business.
You will operate a delegated authority for credit decisions, passed down by the Credit Committee, variable subject to experience and performance over time. You will also substitute for the Head of Credit, operating their delegation and acting as a member of the Credit Committee, as required from time to time.
Delivery:
You will take on a case holding of new applicants with an emphasis on leading the most complex and challenging cases. You will undertake credit analysis and make recommendations to Credit Committee on their potential suitability for innovation loan finance. In this, you will be expected to work directly with the leadership of applicant businesses deemed sufficiently innovative to test and prove their viability and growth potential, demonstrating a skillset that straddles commercial debt and equity investment.
We particularly welcome female applicants as women are under-represented within Innovate UK in this type of role.
Key Responsibilities and Accountabilities:
As a Senior Credit Specialist, you will:
Continue development of the systems that underpin IUKL’s approach to credit, bringing together internal workflow tracking and credit reporting, with external data to support decision making;
Act as one of IUKL’s thought leaders on new and emerging technologies in the finance sector, challenging IUKL’s ways of working as appropriate to bring new perspectives and data to bear on decision making;
Line manage a team of credit specialists and credit analysts in delivering casework and the recruitment, personal development and performance reviews of your direct reports; and
Operate a personal delegation for lending decisions, under the Credit Committee, to be determined against experience and performance over time – you may also substitute for the Head of Credit and operate their delegation from time to time
You will determine the credit worthiness of applications by:
Gathering information about clients, going beyond their application to provide insight into the viability of borrowing propositions and commercial forecasts for complex, cutting edge businesses – often pre-revenue and typically pre-profit – both desktop and face to face engagement will be essential
Maintaining an overview of the broader market for SME finance, and legal, compliance and regulatory issues
Assessing, analysing and interpreting complex financial information, providing a critical overlay for review by the Credit Committee
Undertaking credit risk analysis by interpreting financial data and producing sensitivity analyses, but also forming a view on the capability, breadth and quality of the management team
Working directly with applicants, acting as first point of contact and leading relationship activities
Contributing to financial reporting on the quality and performance of the loan portfolio, including the application of industry standard metrics (eg. Moody’s, Standard and Poors)
Making recommendations to credit committee and taking personal accountability for the judgements you present
While you will be expected to apply a commercial level of rigour to your analysis, a successful candidate will also demonstrate an understanding of how strong underwriting practice interacts with the wider policy objectives of addressing a proven gap in the market for funding innovative SMEs.
Person Specification:
Qualifications:
The candidate will have relevant experience in the field of SME credit and/or investment decisioning in a fund, banking or alternative finance environment and/or a good degree or professional qualification in a relevant discipline.
Experience:
Essential –
A firm grasp of specifying, developing and implementing credit systems in a fast paced environment
Experience in recommending and/or sanctioning non-credit scored corporate/commercial SME lending or equity investments either on the frontline or in a back office credit role
Proven financial analysis skills and/or experience in operating financial models to determine portfolio risk
Experience of making written and oral presentations to internal and external stakeholders
Experience in sourcing, reviewing and analysing financial information, in particular in the form of audited financial accounts and management accounts
Commercially aware, with a clear understanding of the drivers of business growth and the costs of delivery
Experience of leading deal generation from inception through to execution, including a firm grasp of industry standard practice around the prevention, identification and management of financial crimes
