Head of Portfolio

Context:

Innovate UK Loans Limited is a wholly-owned subsidiary of UKRI tasked with delivering Innovate UK’s new innovation finance offer, bringing together debt, investment, credit and operational expertise from within Innovate UK and the wider commercial finance sector. The interventions delivered by the team are designed to enable businesses to bring their innovations to market, through addressing the finance gap facing innovative companies and supporting later stage experimental development through to commercial success.

We particularly welcome female applicants as women are under-represented within Innovate UK in this type of role.

Job Purpose:

Reporting to the Deputy Director of Credit and Portfolio, the Head of Portfolio Management, will have overall responsibility for the ongoing performance management and tracking of the IUKL loan portfolio, currently around 270 businesses and £260m. This role will require proven leadership experience to lead a team of Relationship Managers and Portfolio Analysts ensuring fair treatment of borrowers.

You will take on responsibility for continually developing and refining the Portfolio team’s policies, processes and systems to contribute to Innovate UK’s strategic aims while limiting operational and reputational risk and deploying an excellent customer experience.

You will also have overall responsibility for ensuring compliance with internal investment parameters, corporate governance requirements and appropriate management of public money, also ensuring the team strives for a quasi-regulated approach and standard - especially around treating customers fairly (TCF) and responsible lending.

In addition, the Head of Portfolio Management will be involved in wider Innovate UK working groups and committees to help assess current processes and deliver process improvements. You will also have a significant role in overseeing and managing the outsourced service providers such as legal firms, administrators and rating agencies.

Key Responsibilities and Accountabilities:

• Responsibility for leading and developing the portfolio team and ensuring effective delivery of workflow to ensure tasks are prioritised and actioned within a timely manner.
• Overseeing the onboarding of new team members, ongoing review of team member performance and training needs, encouraging cross training, and acting in a mentoring capacity to encourage upskilling within the organisation.
• Identify opportunities to improve process efficiencies and lead initiatives to improve policies and procedures within the Team and for the wider organisation
• Working closely with Head of Credit and Head of Operations to ensure continuity of services across the organisation
• Part of Innovate UK Loans Senior Leadership Team and contributing at a strategic level
• Re-procure, select, and agree contracts with external partners for the legal services and insolvency practitioners, overseeing their performance.
• Ensure compliance across the function with all relevant legislation and best practice, reviewing, revising and updating policies, procedures, and controls as appropriate and ensuring that this knowledge is reflected across all team members
• Manage and develop strong client relationships for IUKL, ensuring the fair treatment of the customer and that their feedback is gathered, assessed, and addressed as appropriate.
• Leading the management of complex, urgent financial transactions relating to loan/equity exposure, being the sole point of contact for stakeholders.
• Create and deliver a successful portfolio management strategy
• Member of the Credit Committee providing decision making on new exposures and autonomy to review and approve loan change requests in line with delegated authority
• To determine where precedents are being set and provide accounting officer assessment to IUKL Board.
• Provide thought leadership in key public forums and expert representation in key government forums as part of the Innovate UK senior management team and in line with Innovate UK policy.
• Being the liaison point for relevant audits, including both internal and external audit and responsible for implementation of audit recommendations relevant to Portfolio Management.
• Acting as a point of escalation for direct reports alongside a point of contact for our customers for post award.
• Presenting key issues/updates to IUKL Board, Credit Committee and Audit and Risk Committee to assist with decision making.
• Creating and maintaining strong and evolving partnerships internally and externally.

Person Specification:

Experience & Qualifications:

Essential –

• Educated to degree-level or equivalent experience in a relevant discipline (S)
• Direct Banking/Financial Services experience in managing strong customer relationships and/or of business turnaround / recoveries (S&I)
• Previous credit analysis experience in a corporate and commercial setting (S)
• Strong understanding of key financial metrics and ability to analyse financial statements including balance sheets, P&L and cash flow statements. (S&I)
• Proven experience in leading a high-performing team in a remote fast paced environment covering a range of activities and with multiple clients/transactions simultaneously (S&I)
• The ability to perform effectively in a multi-function team environment. (I)
• A track-record of delivery to an exceptional standard against rigorous governance and regulatory standards with a clear consideration of public accountability (S&I)
• Knowledge of the arrears, defaults and recovery processes including working with insolvency practitioners and facilitating key decisions relating to the management of insolvent companies. (S&I)
• Independent thinker and proven ability to make decisions (I)

Desirable –

• Qualified accountant (ACCA/CIMA/ACA) with experience in audit, corporate finance, or FP&A. (S)
• Interest/background/experience in innovation or research, business competitiveness and technology policy or delivery; (I)
• Experience of working with public sector stakeholders, including managing public money contexts (S)

• Learning and development tailored to your role
• An environment with flexible working options
• A culture encouraging inclusion and diversity
• A Civil Service pension with an employer contribution of 28.97%

Job contact :

• Name : Recruitment Team
• Email : [email protected]

Recruitment team

• Email : [email protected]