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 Credit Specialist Reporting to the Head of Credit, the role is two-fold, covering both leadership of key parts of the credit function and line management of individuals within it; and delivery of loan casework from application to credit decision. Please note this advert will close on 1st December 2024 at 23.59pm. Watch our video “Why Join Innovate UK?” here. Title: Senior Credit Specialist Band: Innovate UK Band 2 (UKRI Ts & Cs) Salary: From £62,000 - £65,000 gross per annum Reports to: Head of Credit Location: Field based Contract: Permanent This position includes Performance Related Pay of up to 15% per annum Subject to Pay & Reward policy Potential for a Specialist Allowance per annum is also available for this role (dependent on skills and experience). Innovate UK recognises the importance of work-life balance and we will be happy to discuss any requests for flexible working arrangements. Job Purpose: Reporting to the Head of Credit, the role is two-fold, covering both leadership of key parts of the credit function and line management of individuals within it; and delivery of loan casework from application to credit decision. You will be a senior member of the Credit team of Innovate UK Loans Limited, a wholly owned subsidiary of UK Research and Innovation, and of the wider Innovation Finance team within the Innovate UK Products & Services Directorate responsible for: 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. 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: 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 Desirable – Politically aware and with proven interest in Innovation policy and practice demonstrated through your professional or personal experiences Experience in working directly with clients, managing expectations and providing constructive feedback on credit decisions Knowledge of process management and development, including cash management, forecasting and covenant review Experience in managing and reporting on a portfolio of loans or investments Skills: Self-motivated and proactive, ability to work within agreed parameters and deliver to tight timescales in a highly pressured environment Strong quantitative and qualitative analysis skills Proven team working and project management skills Self-organisation skills and a demonstrable ability to manage and prioritise a workload in order to meet tight deadlines Strong communication (both written and oral) skills and the ability to produce clear, concise and accurate presentations and written documents Strong attention to detail 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 check. Applications must be submitted by; 02-12-2024