Head of Credit Risk

Vargo Group; Aberdeen City; Hybrid; GBP 150,000 - 200,000; Part time

Job summary

An energy sector client in Aberdeen (or Edinburgh) is seeking a Head of Risk to build and lead its enterprise-wide risk management function. The ideal candidate will have extensive experience in financial risk management within investment banking, with a strong focus on compliance with UK regulations. This role offers a hybrid working model and a competitive day rate of up to £950. Apply for a pivotal role in shaping the organization's financial governance.

Qualifications

• Extensive experience in financial risk management within investment banking or public institutions.
• Expertise in credit risk, market risk, and portfolio risk modelling.
• Strong knowledge of UK regulatory frameworks.

Responsibilities

• Design and deploy a comprehensive enterprise-wide risk management framework.
• Establish the internal risk function and manage external advisory support.
• Lead the identification and analysis of credit, market, liquidity, and counterparty risks.
• Provide oversight on new investment proposals and maintain the strategic risk register.

Skills

Financial risk management expertise

Credit risk analysis

Market risk modelling

Portfolio risk analysis

Strong understanding of UK financial regulations

Education

Professional qualifications (FRM, CFA, or PRM)

Job description

Job Description

Head of Risk

Aberdeen (or Edinburgh)

Hybrid (2 days on site)

12 Month Contract

Up to £950/Day Rate (Inside IR35)

Overview

Our energy client is looking for a Head of Risk to build, implement, and lead its enterprise-wide risk management (ERM) function. This foundational role will establish the organisation's risk capability, with a strong focus on governing financial and investment activities.

Key Responsibilities

• Strategic Development: Design and deploy a comprehensive ERM framework and risk appetite statements aligned with the Board's objectives.
• Capability Building: Establish the internal risk function, team, and systems; manage external advisory support.
• Financial & Investment Risk:
  • Lead the identification, monitoring, and analysis of credit, market, liquidity, and counterparty risks.
  • Oversee risk‑adjusted performance analysis for the entire portfolio (equity, infrastructure, loans, grants).
  • Conduct robust stress testing and scenario analysis.
• Governance & Oversight:
  • Provide second‑line oversight and challenge on new investment proposals and portfolio performance.
  • Maintain the strategic risk register and produce comprehensive reports for the Board and Audit & Risk Committee.
• Culture & Compliance:
  • Embed a risk‑aware culture through effective training and engagement.
  • Ensure all activities comply with UK financial regulations.

Essential Criteria

• Extensive experience in financial risk management within investment banking, infrastructure finance, or public investment institutions.
• Expertise in credit risk, market risk, and portfolio risk modelling.
• Strong knowledge of UK regulatory frameworks and public‑private investment structures.
• Professional qualifications such as FRM, CFA, or PRM.

Desirable Criteria

• Experience in renewable energy or infrastructure sectors.
• Familiarity with government reporting and assurance requirements.
• Experience in start‑up environments.
• Background in investment funds or wealth organisations.
• Knowledge of revaluation and economic capital modelling.