Innovate UK has the following secondment opportunity available for employees of Innovate UK Business Connect: Applications must be submitted by 02-12-2024 Vacancy for Senior Relationship Manager - Credit The Innovate UK Loans Portfolio Management team is responsible for the ongoing credit and operational oversight of the IUK loan book. The portfolio is made up of highly innovative, growth-oriented businesses at the cutting edge of new technologies in the UK. Please note this advert will close on the 1st December 2024 at 23.59pm. Watch our video “Why Join Innovate UK?” here. Title: Senior Relationship Manager - Credit Band: UKRI Band F (UKRI Ts & Cs) Salary: £54,043 gross per annum Reports to: Head of Portfolio, Lending and Investments Location: Field based Contract: Permanent Innovate UK recognises the importance of work-life balance and we will be happy to discuss any requests for flexible working arrangements. Context: The Innovate UK Loans Portfolio Management team is responsible for the ongoing credit and operational oversight of the IUK loan book. The portfolio is made up of highly innovative, growth-oriented businesses at the cutting edge of new technologies in the UK. We particularly welcome female applicants as women are under-represented within Innovate UK in this type of role. Job Purpose: The role encompasses two key elements: Management and Review : You will be responsible for the development of a number of Relationship Managers including direct line management, reviewing of credit committee papers, working with other members of the team on particularly challenging or unusual requests and taking the lead on key client relationships. You will work with the Head of Portfolio to improve, develop and maintain key Portfolio processes such as analysis, requests, monitoring, arrears and tracking. You have a delegated authority to exercise at your discretion. You should be comfortable making decisions within a defined risk framework for complex or urgent transactions as well as knowing when to escalate. Delivery : You will be responsible for an allocated portfolio of 25-40 customers which will comprise of the most complex and challenging cases particularly cases on the watchlist and default list. You will also assist on urgent transactions and insolvency cases. You will present cases to the correct delegated authority, or credit committee, and will be required to write clearly articulated, appropriately detailed credit review papers in order to make a strong recommendation to the approver. This will include an analysis of performance against loan obligations, key industry/market trends, historical and future financial performance, management, shareholders/investors and other facilities the company may have. Spotting early signs of distress and finding ways both to support the customer and protect public money will be central to the role. Identifying opportunities to promote and praise success will be equally important. The role will require a highly proactive and partnership approach with both internal and external stakeholders to protect the existing exposures. A key aspect of the role is to grow and develop relationships with existing customers while successfully onboarding new customers into the portfolio. Given the early-stage nature of companies in the portfolio there is a significantly higher risk profile than that of a commercial lender. As a result, there is an expectation that a number of borrowers will default on their loan obligations and the appropriate recoveries process will need to be managed by the Senior Relationship Manager – Credit. You will benefit from the support of the Lending Operations team and more junior colleagues, and you will be expected to help develop the Analysts and Relationship Managers within the team to foster a culture in which opportunities for continual improvement and innovation are welcomed. Key Responsibilities and Accountabilities: Line manage responsibility for Relationship Managers within the team Reviewing credit papers, assisting on complex transaction and providing support to team members on urgent transactions Manage and develop sustainable relationships with an allocated Innovate UK Loans portfolio Complete periodic assessments of portfolio risk profile, reviewing quarterly management information and reporting any changes required to customer credit grading. Work in conjunction with external Monitoring Support Providers to ensure loan funds are being appropriately utilised on designated projects, facilitating any Project or Drawdown Change Requests required. Manage default and recovery scenarios, working with third party professional services firms as appropriate, including lawyers, accountants, and administrators. Responsible for ongoing reporting to the Head of Portfolio on performance, progress, and issues Work collaboratively across the wider IUK Loans function including Origination, Credit and Lending Operations teams Contributing to the continuous improvement cycle for all portfolio management activities, exemplifying a culture of self-reflection, critical analysis and action Undertake training and development to support your personal growth within Innovate UK This is not an exhaustive list and you might be encouraged to undertake any other duties across the wider directorate, commensurate with the Band and level of responsibility of this post, for which the post holder has the key experience and/or training. This is not an exhaustive list and you might be encouraged to undertake any other duties across the wider directorate, commensurate with the Band and level of responsibility of this post, for which the post holder has the key experience and/or training. Person Specification: Qualifications: Educated to degree-level and/or equivalent experience in a relevant discipline Experience: Essential – Experience in the financial services sector, with an understanding of both operational processes and the delivery of lending/investment activities Experience of managing effective client relationships Experience of complex and/or urgent transactions relating to loan or equity exposures including acquisitions/mergers/equity raises, breach remediation, restructurings or consents/waivers. Understanding of key financial metrics and ability to analyse financial statements including balance sheets, P&L and cash flow statements, preferably from a credit risk perspective. Experience in managing to KPIs within in a tightly controlled environment. A team player, with the ability to lead by example and collaborate effectively Desirable – Experience of insolvency and recoveries processes. Experience in line management. Interest/background/experience in innovation or research, business competitiveness and technology policy or delivery Experience of working with public funds, including managing public money contexts Skills: Line management Decision making, including under a defined delegated authorities framework Management of complex, urgent financial transactions relating to loan/equity exposures Credit paper writing and financial analysis Spotting and mitigating credit risks Implementing appropriate arrears and forbearance approaches Sound judgement, knowing when to make clear decisions and when to seek advice from those around you Financially-minded and risk aware Ability and willingness to thrive in a changing environment, taking a flexible-approach to working Competencies: All team members demonstrate compatibility with and capability against our Core Competencies such as: Thinking and Problem Solving – Stakeholder management – Communication skills – Influencing – Self-awareness/self-management – Strategic awareness – Working with others– Project management Travel Requirements: Field-based: There will a requirement to travel, mostly national, and there is some flexibility in this. Innovate UK staff make extensive use of telepresence tools for meetings to minimise unnecessary travel. Equality, Diversity and Inclusion: Innovate UK is a diverse workforce of people. We believe that encouraging these differences and drawing the best from them will build a productive environment in which everyone feels valued, where talents are fully utilised and in which organisational goals are met. Underpinning this is a belief that it is a fundamental right for everyone to be treated equally, with fairness, respect and dignity. We will act directly and use our influence to ensure that this right is promoted and upheld; we encourage applications from all those who meet the criteria set-out in our role profiles. Equal Opportunities: We are an equal opportunities employer, committed to employing any person who meets the criteria for our roles. When undertaking recruitment we may require applicants to undertake certain tests or assessments, some of which will be online and others may be in-person. If you have a disability, heath condition or specific learning difficulty such as dyslexia then you may be entitled to support with undertaking this type of assessment exercise. Where you feel that reasonable adjustments are required to support you, we ask that you advise your recruitment point of contact in a timely fashion, providing further information. In confidence, Innovate UK will then review your application for adjustments and provide support as required. UK Research and Innovation: Innovate UK is partner organisation within UK Research and Innovation. If successful in securing the position, your employer will be UK Research and Innovation. More information can be found online http://www.ukri.org/. Employee Benefits: We offer a benefits package crafted to provide an excellent work/life balance. This includes 30 days’ annual leave, 10.5 public and privilege days, flexible working hours, an exceptional defined benefit pension scheme, and access to a variety of support networks and discount schemes. Benefits of working at UK Research and Innovation (UKRI) Flexible Working: We understand the importance of work-life balance, and are happy to discuss the possibility of flexible working with applicants. Pre-employment Screening: To enable us to hire the very best people we will conduct a comprehensive pre-employment check on successful applicants as part of the recruitment process. The role holder will be required to have the appropriate level of security screening/vetting required for the role. UKRI reserves the right to run or re-run security clearance as required during the course of employment. UKRI supports research in areas that include animal health, agriculture and food security, and bioscience for health which includes research on animals, genetic modification and stem cell research. Whilst you may not have direct involvement in this type of research, you should consider how this aligns with your personal values or beliefs. To enable us to hire the very best people we will conduct a full and comprehensive pre-employment check as a crucial part of the recruitment process on all individuals that are offered a position with UKRI. This will include a security check and an extreme organisations affiliation Applications must be submitted by; 02-12-2024