Group Credit Risk Manager

Benefact Group plc; Cranham Gate; On-site; GBP 50,000 - 75,000; Full time

Job summary

A leading group in the financial services sector is seeking a Group Credit Risk Manager to enhance its finance team. The position involves agency relationship management and the monitoring of credit risks in the insurance market, ensuring compliance and strategic insights into market trends.

Benefits

Hybrid working

Group Personal Pension - up to 12% employer contribution

Generous annual bonus scheme between 7.5% and 30%

28 days annual leave plus bank holidays

Health and wellbeing benefits including private healthcare

Full study support for professional qualifications

Qualifications

• Strong understanding of credit risk principles.
• Experience monitoring payment performance and overdue policies.
• Ability to assess financial health of brokers and agencies.

Responsibilities

• Provide advice and support to agency management.
• Conduct financial assessments and handle credit applications.
• Monitor brokers’ credit performance and ratings.

Skills

Credit risk principles

Financial analysis

Communication skills

Negotiation skills

Stakeholder management

Education

Relevant financial qualifications

Job description

Working hours: 35 hours per week, Monday to Friday

Duration: 12 month FTC

Location: Gloucester

Job Ref: 204023

About the role

Benefact Groupare looking for a Group Credit Risk Managerto join our finance team based in ourGloucesteroffice.

The role provides agency relationship management to the insurance business in the UK and Ireland. The role supports broker distribution, underwriting and finance teams and ensures brokers and agencies meet financial and regulatory standards, and that credit risk is monitored and mitigated.

Why join us?

Join a collaborative and inclusive culture that’s committed to making a difference and building a more sustainable future. Ranked amongst the UK's top 50 Best Large Companies to Work For in 2024, we offer fantastic career and development opportunities within a rapidly growing, innovative Group—where all profits go to charity and good causes.

What you'll be doing

Agency advisory

• Provide advice and support to the agency management function for the UK and Ireland businesses.
• Support business units, broker distribution, regional offices, schemes and managed companies.
• Embed agency and related advisory services into the business.

Agency and credit account processing

• Handle agency and credit account applications
• Conduct financial assessments, verify banking arrangements and review trust deeds.

Broker financial reviews

• Review brokers with Supplemental Business Agreements (SBAs) for credit risk.
• Provide financial assessments of accounts for brokers and customers to support with reviews and deteriorating performance
• Investigate overdue policies with significant financial exposure.

Credit monitoring

• Monitor brokers’ credit performance and ratings, informing the business of deterioration or improvements to mitigate and manage credit risk and exposure.
• Identify and take action on brokers with low or deteriorating credit ratings or limits.

Terms of business agreements

• Lead periodic refresh and updates of broker terms of business agreements ensuring regulatory compliance
• Handle terms of business agreement related queries by providing advice and support to the business and shared service functions whilst maintaining suitable terms

Market analysis and governance

• Monitor market trends and developments.
• Make recommendations and escalate issues to governance boards

What you'll need to have

• Strong understanding of credit risk principles.
• Experience monitoring payment performance and overdue policies.
• Ability to assess financial health of brokers and agencies.
  
• Experience managing agency applications, TOBAs, and commission structures.
• Familiarity with agency governance and compliance processes.
  
• Knowledge of relevant regulatory requirements.
• Experience of ensuring compliance with regulations.
  
• Strong financial analysis experience.
• Ability to use credit reference data to assess and mitigate risk.
  
• Effective communication, negotiation and stakeholder managementskills.

What makes you stand out

• Sector and function experience - Experience or familiarity of insurance financial services and shared services functions.
• Change – Ability to lead and support change and continuous improvement initiatives
• Strategic - Ability to provide insights with the monitoring of market trends
• Policy Development - Experience contributing to or maintaining group-wide credit policies.

What we offer

• A competitive salary - let's discuss it
  
• Hybrid working
  
• Group Personal Pension - up to 12% employer contribution
  
• Generous annual bonus scheme between 7.5% and 30%
  
• 28days annual leave plus bank holidays, and a holiday buy and sell scheme
  
• An array of health and wellbeing benefits, including private healthcare, income protection and life assurance
  
• £200 annual personal grant to a charity of your choice
  
• Encouraged to take at least one volunteering day per year
  
• Employee Assistance Programme
  
• Full study support to gain professional qualifications
• Access to virtual GP
• Enhanced maternity and paternity pay

Hear from the hiring manager

"We have an exciting opportunity to support our insurance businesses and intermediaries as part of the Credit Risk team in Group Finance. The role provides an important part of how we look after the relationships with the intermediaries of our insurance businesses. It also plays a key role in supporting new business, ensuring terms of business arrangements are fit for purpose and compliance with regulation."

About us

Benefact Group is a unique international financial services Group made up of over 30 businesses. We are owned by a charity and have been the 3rd largest UK corporate donor over a decade*, having given away £250 million since 2014. We have ambitious plans to become the UK’s number one corporate donor, with strategic objectives in place to double the Group’s size.

We believe it’s essential to attract, empower, grow and reward talented people, offering fantastic opportunities for career and personal development. Our giving ethos, 135-year history and the diversity of what we do, has enabled us to build a culture of kindness, great ambition, and of passionate people driven to do better and be better.

At Benefact Group, we are committed to creating an inclusive culture and building an environment where each and every one of us feels valued and respected. We are a community made up of people with a range of different backgrounds, abilities, perspectives, beliefs and interests and we value the strength this brings to us as a Group. We welcome applications from everyone.

If you need any additional support during the recruitment process, then please let us know.

*Directory of Social Change’s UK Guides to Company Giving 2017-26