Head of Mortgage Portfolio Management
Salary: National - £130,000 - £140,000, London - £140,000 - £150,000
We have an exciting opportunity to join our Equity Release (ER) business. We are looking for an established leader with strong analytical experience who will build detailed knowledge of the UK residential property market and has strong collaborative leadership skills to optimise the value of our existing £12bn Mortgage book as well as the type of property we accept as New Business.
A bit about the job:
As the Head of Mortgage Portfolio Management, you will manage a team of 5-10 individuals that range in skill from Property Surveyors, Underwriters, Economists, and Actuaries. You will also be responsible for decisions on:
1. Property Lending Criteria: Ensuring that the properties Aviva Equity Release accepts as security for its Lifetime Mortgages represent an acceptable risk, focusing on their future saleability and value, influencing Funders, both internal and external, on the optimisation of this criteria.
2. Portfolio Management: Monitor and manage the performance of the Equity Release Mortgage back book (c£12bn in existing loans and >£30bn in property values) including cases where the No Negative Equity Guarantee (NNEG) bites, cases in default, cases in possession, litigation cases, and potential professional indemnity claims. This will require close collaboration with the funders, IWR Legal, operations, and second line Risk.
3. Property Experience Analysis: Work with our operations and Actuarial teams to build and maintain predictive analysis of property experience (e.g. Property Dilapidation) that will impact the value of the £12bn book of loans.
4. Economic Scenario Setting: Collaborate with Economists within the team and wider Aviva (e.g. Aviva Investors) to build and maintain a view of future Housing Market Economic Scenarios that are critical for influencing and building business plans for both Equity Release and the wider Aviva business, influencing the UKER Board, CIO, and wider Aviva on this outcome.
5. Sustainability: Own the model to monitor the climate impacts of residential property on Aviva's climate outcomes, influencing the position to drive the right balance between Equity Release business outcomes and Aviva's climate ambitions. Influence the Equity Release Director and HOF propositions on options to minimise the impact through proposition design options.
Skills and experience we're looking for:
1. Strong leadership influencing and relationship management skills.
2. Strong written, verbal, and analytical skills with the ability to interpret complex data and engage at all levels.
3. Effective cost management, budget planning, and resource management experience.
4. Ability to find opportunities to build mutual outcomes and mobilise resources to deliver and influence at board level both within and external to Aviva.
5. Experience in senior finance, underwriting, surveyor, or pricing roles.
In this role, you'll be 'Certified' under the Financial Conduct Authority / Prudential Regulation Authority's Senior Managers and Certification Regime (SMCR). This means that we'll need to complete some regulatory background checks on you before you take up your role, and we'll need to ask you some questions on an annual basis to ensure you remain 'fit and proper' to carry out your role. We'll provide training on what holding a SMCR role means when you join us and annually thereafter.
What you'll get for this role:
1. National salary £130,000 - £140,000 - London salary £140,000 - £150,000 (depending on location, skills, experience, and qualifications).
2. Bonus opportunity - 25% of annual salary (actual amount depends on your performance and Aviva's).
3. Generous pension scheme - Aviva will contribute up to 14%, depending on what you put in.
4. 29 days holiday plus bank holidays, with the option to buy or sell up to 5 days.
5. Up to 40% discount on Aviva products, and other retailer discounts.
6. Up to £1,200 of free Aviva shares per year through our Matching Share Plan and share in the success of Aviva with our Save As You Earn scheme.
7. Brilliantly supportive policies including parental and carer's leave.
8. Flexible benefits to suit you, including sustainability options such as cycle to work.
9. Paid volunteering days to help others.
10. Wellbeing support and resources.
Aviva is for everyone:
We're inclusive and welcome everyone - we want applications from all backgrounds and experiences. Excited but not sure you tick every box? Even if you don't, we encourage you to apply. We also consider all forms of flexible working, including part-time and job shares.
We flex locations, hours, and working patterns to suit our customers, business, and you. Most of our people are smart working - spending around 50% of their time in our offices every week - combining the benefits of flexibility with time together with colleagues.
To find out more about working at Aviva, take a look here.
We interview every disabled applicant who meets the minimum criteria for the job. Once you've applied, please send us an email stating that you have a disclosed disability, and we'll interview you.
We'd love it if you could submit your application online. If you require an alternative method of applying, please contact Guv Johal at 0750 008 7919 or via email at Guv.Johal@aviva.com.
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