Business Development Manager

Virgin Money; Watford; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading UK financial institution is seeking a Credit Risk Manager to oversee the design and implementation of credit standards for its Business Banking portfolio. The ideal candidate will have extensive experience in business banking lending and a strong track record in credit risk management. This role involves collaboration with various stakeholders to ensure compliance with lending criteria and regulatory requirements, as well as monitoring adherence to established credit policies. Excellent communication skills and attention to detail are essential.

Qualifications

• Extensive experience in business banking lending with responsibility for lending criteria.
• Strong track record focused on credit risk and lending standards.
• Deep knowledge of business banking products and regulatory environment.

Responsibilities

• Manage and support design and implementation of credit standards.
• Oversee credit standards design and governance.
• Monitor adherence to credit policies and escalate gaps.

Skills

Business banking lending

Credit risk analysis

Stakeholder engagement

Leadership

Attention to detail

Job description

Overview

Business Credit Risk Insight & Innovation supports key activity across the organisation to ensure end-to-end credit risk is managed effectively. Our function covers business credit automation decisioning, lending standards, credit strategy, and portfolio analysis and insight. We work collaboratively across the 1st and 2nd Lines of Defence, supporting robust credit risk management and standards compliance.

What You’ll Be Doing

• Reporting to the Head of Business Credit Insight and Innovation, you’ll manage, maintain, and support the design and implementation of credit standards for the Business Banking portfolio.
• Lead the development, maintenance, and review of business banking credit standards and delegated authority frameworks, ensuring alignment with risk appetite, strategic objectives, and regulatory requirements.
• Oversee credit standards design, governance, and related education initiatives through CCO, Credit, and relevant committees and forums.
• Drive the effective implementation of credit standards changes, ensuring clear communication and consistent application.
• Monitor adherence to credit policies, frameworks, and standards, escalating gaps or control weaknesses as needed.
• Build and maintain strong relationships with key stakeholders across Risk, Business Banking, and Operations.
• Act as a key contact for regulatory bodies and internal audit, supporting responses to reviews and audits.
• Regularly assess and update credit policies and education programmes to reflect changing requirements.
• Prepare and present standards updates, compliance insights, and trend analysis to governance forums.
• Contribute to the simplification of credit policies and decisioning authorities, supporting digital transformation and operational efficiency.
• Design and deliver bank-wide credit education and training strategies.
• Ensure controls and risk log are maintained for all matters relating to Business Credit Insight & Innovation (BC I&I), working across the function and organisation to ensure adherence to the enterprise-wide control framework.
• Support governance adherence within the agreed governance framework as required for all BC I&I matters.

Qualifications

• Extensive experience in business banking lending, ideally with direct responsibility for developing, implementing, or maintaining lending criteria across a range of sectors and customer segments.
• A strong track record in roles focused on credit risk, lending standards, or credit policy – demonstrating a clear understanding of how lending criteria underpin sound credit decisions.
• Deep knowledge of business banking products, customer needs and the regulatory environment affecting lending criteria.
• Proven ability to translate complex regulatory and strategic requirements into clear, actionable lending criteria and standards.
• Excellent communication skills, with the ability to engage, influence and educate stakeholders at all levels on the rationale and application of lending criteria.
• Strong leadership and people‑management skills, with experience building high‑performing teams and fostering a culture of continuous improvement.
• A collaborative approach, working effectively across functions to ensure lending criteria are consistently applied and understood.
• High attention to detail and a commitment to maintaining robust controls and governance in all aspects of credit risk management.

Bonus Skills

• Experience writing or overseeing lending criteria for multiple business banking sectors and segments, including specialist or complex lending areas.
• Demonstrated success in simplifying and streamlining lending criteria and related processes, supporting digital transformation and operational efficiency.
• Experience engaging with regulators, auditors and industry bodies on matters relating to lending criteria, credit policy or standards.
• Familiarity with delegated credit authority frameworks and their application to business banking portfolios.
• Successfully held a Credit Lending DCA.

Equal Opportunities

As a Disability Confident Leader, we’re committed to removing any obstacles to inclusion. If you need any reasonable adjustments or support making your application, contact our Talent Acquisition team at [e-mail]. Please note: If we receive a high volume of eligible applications, we may need to prioritise candidates whose skills and experience most closely align with the role, while still ensuring fair and equitable consideration for all applicants.

Legal Notice

We’re in the process of bringing Virgin Money and Nationwide together which, subject to Court approval, will happen on 2 April 2026. You can find out more about what this means at https://uk.virginmoney.com/nationwide-transfer. If you're successful in securing a role with us, your employment will move automatically to Nationwide when this transfer goes ahead. Some roles allow you to be based anywhere in the UK, but we’ll need you to confirm you have the right to work in the UK. Upon selection, you’ll need to complete credit and criminal record checks and provide three years’ worth of satisfactory references. If the role is part of the Senior Manager Regime and Certification Regime, enhanced pre‑employment checks will be required.