Director of Credit

LHV Bank Limited is a UK-licensed bank operating across three core business segments: Retail Banking, SME Lending, and Banking Services (BaaS). The bank is a wholly owned subsidiary of LHV Group, a listed financial services provider headquartered in Estonia. LHV Bank operates under a full UK banking licence granted in May 2023.

The Bank supports over 200 fintech clients with embedded financial infrastructure, provides retail savings products via digital channels, and offers SME credit solutions across the UK. In line with its regulatory responsibilities and growth ambitions, LHV Bank is committed to maintaining a robust and proportionate financial crime control environment.

Expanding our services, LHV Bank now provides personal banking solutions. Our offerings include current accounts with competitive interest rates, fixed-rate bonds for long-term savings, and debit cards. Customers can conveniently access these services through the LHV App, enabling secure account opening and management.

Background

A well-established role, the Director of Credit reports directly to the Chief Risk Officer and is based in London and/or Manchester. A hybrid working arrangement is also offered.

As a key part of the second line of defence, the role holder will play a full part in the development of credit policy and strategy, and shape the way credit risk is managed, reflecting the Bank's long-term objectives. This position will Chair the Credit Risk Committee. As such, all aspects of second line Credit Risk Management, will be under the purview of the role holder, including:

• Advising (those charged with governance including the Board Risk Committee) and actively overseeing the Bank's credit risk profile including with respect to the Bank's risk appetite and its practical implementation;
• Maintaining sound underwriting processes: managing the assessment of credit applications.
• Making certain that systems and operating procedures support the lending, portfolio management, in life management, credit stewardship and arrears management processes; and
• Delivering appropriate measurement and management to ensure that credit risk performance remains within risk appetite including implementing all applicable second line credit risk management processes.

Role Purpose:

To lead and direct the Credit Risk Management function of LHV UK, ensuring that it is managed in line with Bank principles and policies and that it reflects the firm's risk focussed growth strategy through the management of the risk profile.

Responsibilities:

• Lead and direct the Credit Risk Management (second line of defence) function.
• Chair the UK Credit Risk Committee, establishing a robust underwriting process, reviewing all loan propositions, managing the portfolio risk, and when needed, overseeing the arrears management process.
• Direct, develop and motivate the Credit Risk team members to maintain and improve individual, functional and wider business objectives; ensuring that the culture, values and intentions of LHV Bank are embedded and understood.
• Significant contributor to the Bank's risk appetite setting process and associated with it, enhance and implement an effective Credit Policy (and associated rules and procedures) in line with the Bank's strategy, risk appetite and regulatory requirements.
• Prepare management reports concerning credit risk management activities, providing the required analyses and breakdown of the portfolio and provide relevant commentary, with a keen focus on forward looking and emerging risks.
• Ensure that adequate and robust credit controls and appropriate governance is maintained.

Required Skills:

SME Lending Expertise

• Extensive experience structuring and approving, property collateral backed, SME lending facilities — including working capital, asset finance, and term loans.
• In-depth understanding of SME business models, cash flow dynamics, and sector-specific credit risks.
• Skilled in designing lending frameworks tailored to SME clients, balancing agility with prudent risk controls.

Credit Risk Leadership

• Strong command of credit risk policies, approval processes, and portfolio performance management.
• Expertise in developing risk appetite statements and aligning them with regulatory and strategic priorities.
• Experienced in managing second line credit teams (including, but not limited to, credit underwriting) and setting consistent credit standards.

Strategic and Operational Leadership

• Experienced in setting and executing strategic objectives for credit functions, including automation and process efficiency.
• Skilled in mentoring and developing teams, fostering a culture of accountability and continuous improvement.
• Effective board and committee presenter, able to convey risk trends and strategic recommendations clearly.

Required Experience:

• Significant experience in banking or financial services, within a (property backed) SME Credit leadership role.
• Proven ability to enhance credit frameworks, financial resilience of the credit portfolio, and support sustainable portfolio growth.

Some of our benefits

• Competitive salary & progression

• Open and inclusive culture

• Hybrid working

• Fantastic offices and great working environment

• Vitality Health Plan (includes private health insurance, travel insurance, gym discounts)

• Medicash health plan (Level 3)

• 5% employer pension contribution

• Life assurance

• Income protection insurance

• 28 days holiday plus 3 additional days, bank holidays & further days for various key life events

• Team socials