Job Title:	Head of Department – Credit Risk
Reference:	CP08/48
Salary:	£100k+ subject to experience
Location(s):	London, London East, London North, London South, London West, Middlesex, City of London
Industry(s):	Banking
Advertiser:	FSG Ltd Executive Search & Selection
Employment Type:	Permanent
Posted:	14-07-2008

Description:

My client is a leading organisation in the UK Financial Services Sector. They are seeking a Head of Department to establish their new Credit Risk Department which will be responsible for delivering credit risk management resource and firm specific, thematic and analytical reviews on credit risk and structured finance to supervisors and other stakeholders within the organisation.

What does this job involve?
• Leading the organisation’s credit risk resources arranged across three areas of expertise, Corporate Credit, Retail Credit and Structured Finance. This will require close collaboration with all other areas of Prudential Risk Division, Credit Risk Policy and with supervisors
• The Credit Department will be responsible for expert evaluation of credit processes including governance, loan origination, approvals, collections, collateral, management of bad debt and provisioning
• Will also be responsible for reviewing securitization of pools of mortgages
• Developing structures that facilitate pan-risk evaluation of the prudential position of firms
• Lead and contribute to reviewing credit portfolio risks in high impact financial services groups
• Overseeing the provision of credit skills in support of IRB recognition
• Lead, recruit, coach and manage a department of about 25 staff most of whom will be highly qualified and experienced professionals in their own right, help develop their skills and realise their full and very valuable potential, lead them in making the cultural and other adjustments needed to achieve the success of the Supervisory Enhancement Programme
• Being part of the Prudential Risk Division's senior management team, ensuring that the Division works effectively and efficiently and builds and maintains strong relationships with its internal and external stakeholders. Helping to realise the Divisional goals of an integrated approach to firm-specific review

Essential Skills required:

Experience: 10+ years experience in credit management including responsibility for both qualitative and quantitative elements
Broadly-based analytical knowledge and skills. Familiarity with a broad range of financial economics with emphasis on risk measurement methodology, including economic capital economic value added, valuation and disclosure of transactions as a held on the banking book. Should also have a solid knowledge of special purpose vehicles, CDOs, securitization and credit derivatives
Excellent Negotiating and Networking Skills. Developing and maintaining strong internal and external relationships, creating trust and rapport with a wide range of stakeholders, ensuring delivery of focussed review outputs that help the organisation meet its objectives
Ability to Think Strategically. Excellent judgement, based on a strong intellect and sharp analytical ability, coupled with sensitivity for other peoples' views and an understanding of the motivations of stakeholders within and outside the organisation. A good understanding of the internal management structure of financial firms, including the interplay between business incentives and regulatory incentives within regulated firms
Clear Action and Outcome Focus. Track record of delivering results against business priorities, with considerable energy. Enthusiastic approach to the challenges ahead. Proven abilities to organise others and use organisational skills to channel the work of others productively
Strong Leadership Capabilities. Strong people management capabilities, building and leading a successful and motivated team. Getting the best of a wide range of internal stakeholders through successful cooperation and thought leadership. Candidates should have regard to the 'Making a Real Difference' leadership capabilities
First-Class Communicator. Ability to communicate effectively both internally and externally, orally and in writing, with strong influencing skills
Good understanding of Financial Services Review. Preferably, a broad understanding of specialist supervisory review work and approach and a good understanding of how that specialist review work dovetails with that of the policy and relationship management areas
Drive and stamina. To ensure that complex deliverables are produced on time in the face of shifting circumstances