Head of Credit Risk Management

3 days ago

Manchester, United Kingdom THC Recruitment Ltd Full time
Head of Credit Risk

THC Recruitment Ltd is seeking an experienced Head of Credit Risk to join our team. As a key member of our leadership team, you will play a pivotal role in shaping our risk management strategy and ensuring the responsible underwriting of loans.

Key Responsibilities:
  • Develop and implement a comprehensive risk management strategy aligned with our business objectives.
  • Establish and enforce risk policies, procedures, and standards to ensure compliance with regulatory requirements and industry best practices.
  • Collaborate with our executive leadership to communicate risk tolerance and risk appetite across the organisation.
  • Support our business aspirations for asset growth with a balanced approach to asset quality and risk reward.
Underwriting Oversight:
  • Oversee the underwriting process to ensure thorough evaluation and assessment of loan applications.
  • Ensure that the risks of lending proposals submitted are properly identified, assessed and mitigated appropriately.
  • Implement and enhance underwriting models, analytics, and decision-making tools to optimise risk-adjusted returns.
Credit Risk Management:
  • Develop and maintain credit risk models to assess the creditworthiness of borrowers.
  • Establish risk-based pricing strategies to balance profitability with risk exposure.
  • Collaborate with our credit risk team to monitor portfolio performance and initiate proactive measures to mitigate credit losses.
  • Be accountable for credit decisions and identify signs of stress to minimise the company's exposure to bad and doubtful debt.
  • Proactively review and recommend improvements to credit policy.
Scorecard:
  • Develop, build and manage our credit risk scorecard.
  • Refine the credit risk model through the scorecard lifecycle.
  • Develop champion challenge models in life to ensure continued 'best customer outcomes'.
Compliance and Regulatory Affairs:
  • Stay abreast of relevant regulatory changes and ensure our lending business is following all applicable laws and regulations.
  • Maintain a deep and thorough understanding of Consumer Duty, notably delivering good customer outcomes and fair value.
Stress Testing and Scenario Analysis:
  • Conduct stress testing and scenario analysis to assess the resilience of our lending portfolio under various economic conditions.
  • Develop contingency plans and risk mitigation strategies based on stress test results.
Cross-functional Collaboration:
  • Work collaboratively with other business units such as finance, operations, and technology to integrate effective risk management strategies and controls into business processes.
  • Provide risk insights and recommendations to support strategic decision-making.
Team Leadership and Development:
  • Train our 1st line team and oversee their competency, including talent development.
  • 2nd line defence responsibilities, including periodic 1st line audit.
Vendor management and selection:
  • Manage lending operations, including application processing, customer onboarding, customer checks, proposal generation, underwriting (including affordability assessments), pay-outs, arrears and forbearance management, and bad debts.
  • Manage the risk of lending in accordance with our risk appetite, and the associated frameworks.

Requirements:

  • Analytical thinker, with deep understanding of credit profiles, experienced in underwriting with the ability to run a team of UW, ability to build and maintain complex credit scorecards.
  • Ability to run a risk-based pricing model.
  • An inclusive, transparent, mentor, who strives for continuous improvement.

Contact Vicky for more information.

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