Head of Project Finance

Job summary
The principal role of the Department is to support UK companies exporting to foreign markets by providing insurance, loans and guarantees against non-payment or non-performance by UK exporters and overseas buyers. To perform its statutory function, UKEF must assume significant credit risks on behalf of UK exporters. Consequently, the financial success of the Department is crucially dependent upon sound credit risk assessment, particularly given the elevated default risks associated with emerging markets.

The Risk Management Group (‘RMG’), under the leadership of the Chief Risk Officer (‘CRO’) is responsible for the management of UKEF’s risk portfolio (c.£55bn), including new business credit risk assessments (c.£3bn p.a.). RMG operates via 5 Divisions, responsible for Enterprise Risk Management, Risk Assessment, Analysis (Pricing & Portfolio Risk, Operational Research & Analysis, and Economics & Country Risk), Portfolio Management, and Restructuring, Claims & Recoveries.

The Risk Assessment Division (‘RAD’) is responsible for providing probability of default (‘PD’) ratings and loss given default (‘LGD’) assessments on all non-sovereign risks assumed by the Department. RAD’s case work is split currently into three teams: Corporates and Strategic sectors; Project Finance; and Specialised Products Risk (Aerospace and Financial Institutions (banks & NBFIs) & APM).

Job description
About the role

The principal purpose of the Department is to support UK companies exporting to foreign markets by providing insurance, loans and guarantees against non-payment or non-performance by UK exporters and overseas buyers. To perform its statutory function, UKEF must assume significant credit risks on behalf of UK exporters and indeed overseas buyers of UK exports. Consequently, the financial success of the Department is crucially dependent upon sound credit risk assessment, particularly given the elevated default risks associated with emerging markets. The Risk Assessment Division (RAD) is responsible for providing the counterparty credit and transaction analysis of these deals including probability of default (PD) ratings and loss given default (LGD) assessments on all sovereign and non-sovereign risks assumed by the Department.

RAD’s case work is currently split into 3 teams: Corporates & Strategic Sectors, Aero & Financial Institutions Risk (from 1/10/2025 to be known as Specialised Products Risk team when the APM franchise joins it), and a Project Finance team. Whilst requiring a high “technical element” the successful postholder will also be responsible for the leadership, motivation and management of the Project Finance team within RAD as well as playing a key role in the stakeholder relationships with UKEF colleagues, at all levels, with our Business Group and Legal, Environmental & Compliance directorates

The role oversees the accurate credit assessment, analysis and due diligence of both new and existing exposures within their areas. The role holder has extensive practical knowledge and experience of these areas and is responsible for managing all transactions from start to finish that falls within them; the role holder leads meetings and discussions on complex cases which may include novel features and structures – including extensive negotiations with exporters and buyers - and oversees and is ultimately responsible for case work of the analysts within their team.

The role holder is also responsible for the credit risk approval of cases up to and including their delegated authority.


Main Activities

Leading, managing and motivating their team in the production of high quality and timely credit analysis. This may involve complex structures and transactions (including novel and unusual features).
Exercising credit approval – within the terms of delegation from CRO or Head of RAD. The role also includes the provision of high-quality recommendations to the Head of RAD where delegated authority is exceeded.
Responsibility, accountability and approval alongside Post-Issue Management Team for the ongoing monitoring from a credit risk and ratings perspective for the Project Finance transactions within UKEF.
Liaising with multiple stakeholders – most notably Business Group and external clients – but also numerous internal stakeholders including Legal Division and Underwriting Products and Policy Division.
Taking senior leadership roles within external meetings to ensure that new proposed business is optimally structured and firmly within UKEF’s predetermined risk appetite.
Ensuring that all submissions to Enterprise Risk and Credit Committee are succinct, well structured, coherent, logical and fit for purpose.
Identifying and providing solutions to credit training deficiencies both within RAD and UKEF more broadly.
Continuously demonstrating subject matter expertise in both Project and Structured Finance. Recognition as subject matter expert both internally, particularly by RAD and Business Group staff and externally.
At times deputising for the Head of RAD, where appropriate, including but not limited to, Senior Management Meetings and leading the internal Senior RAD Team Meeting.
Budget authority as above.
Continuing review of and improvements to policies and processes affecting Project Finance.

United Kingdom
England
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