About the job

Job summary

UK Export Finance has recently undergone an internal consultation to review the current structure of its Business Group (BG) and a decision has been made to create two new distinct directorates.

This will enable us to fully focus on specific customer requirements and to aid product delivery for the respective markets in which UKEF provides support. 

Each new directorate will be headed by a SCS2 Director who will also be a member of UKEF’s Executive Committee (EC). In practice the co-Heads will work closely and collaboratively together in the interests of the whole Group to deliver a vision of “One BG”.

By creating two separate directorates each Director will be able to focus on key deliverables for their respective markets.

UKEF believes that the SME market will continue to expand and supporting SMEs is one of the government’s key priorities. This support will aid and stimulate continued economic growth within the UK. This new structure will enhance support for SME’s in particular to help drive support for businesses outside London and the South-East.

This directorate’s creation will send a strong signal to our SME customers, counterparties and key stakeholders about the importance of this sector to the future success of our business.

Of equal importance is the creation of the Large Corporates and International directorate; this will ensure that UKEF provides a sustained focus on larger corporates and international buyer financing transactions and that our products and services are actively promoted. Key to the success will be growing our international origination network so that UKEF’s presence and our impact is felt globally.

Despite the creation of two distinct directorates within Business Group, it is evident from current working practices that both directorates will continue to work together very closely in order to support a single opportunity.

Both roles report directly to the UKEF Chief Executive and sit on the department’s Executive Committee.

Job description

Director of Large Corporates and International (LCI)

 

• This newly formed directorate will consist of three teams, each of which is managed through direct reports, namely Civil, Infrastructure & Energy division (CIE), the Origination division, and the Aero & Defence division (ADSS).

• The Origination division also includes UKEF’s international network which sources many of our new buyer financing opportunities globally, with the underwriting teams who then execute those transactions. Currently UKEF has 23 members of staff providing coverage across the America’s, Asia, Africa and Europe.

 

• By aligning more closely the origination and underwriting division, this will allow the relationship to become more tightly focussed and will facilitate the desire to further deepen the interactions and promote more seamless cross-team working.

 

• The Export Development Guarantee (EDG) function which is a key part of UKEF’s offer to large corporates and international investors into the UK, will continue to report into the CIE and ADSS divisional heads.

 

• The Director of Large Corporates and International is primarily responsible for ensuring UKEF achieves its targets for business issued and exporters supported, and plays a central role in ensuring that UKEF delivers on its objectives as set out in UKEF’s Business Plan. As a result the Director of Large Corporates and International is a key party in translating the government’s export strategy into a working reality.

 

• To put this in context, in 2022/23 the current Business Group provided £6.5 billion in support. This included £2.4 billion support for sustainable deals.  The department generated premium income of £313 million against business issued. 

 

• The Large Corporate and International directorate issues and underwrites a suite of UKEF’s financial products to support UK exporters. These include:

 

• guarantees to banks, financial institutions and investors in the banking and debt capital markets;
• direct lending to overseas buyers of UK goods and services;
• political risk insurance;
• guarantees in respect of working capital and capex;
• reinsurance involving other Export Credit Agencies;

 

Director of Small and Medium Enterprises and Trade Finance

 

As Director of SME and Trade Finance you will play a critical role in ensuring that UKEF delivers on its ambition to increase the number of SME’s who UKEF support; by promoting growth within this key market sector you will be ensuring that UKEF is strongly aligned to one of the government key strategic priorities.  You will ensure that UKEF’s product offering is leveraged through our network of Export Finance Managers and that support is provided to SME’s across all regions of the UK.  Your focus will also be aimed at targeting business who are unserved, such as ethnic-minorities and women led businesses.

As Director, your role will be critical to ensuring that UKEF continues to develop its product and services to ensure that we are able to fully support the needs of the SME market; you will also work collaboratively with our banking partners to ensure that our products and services are fully promoted.

This is a senior leadership role within UKEF and has responsibility for the following teams.

• To lead the Strategic Sectors Division which encompasses Underwriting Teams engaged in Emerging Sectors and small buyer credit facilities as well as a team of Export Finance Managers, currently a team of 29, who are based regionally to deliver new customers to UKEF and source applications for UKEF’s products.
• To lead the Short-Term Business Division which is responsible for Underwriting and managing the case load generated from our Working Capital, Bond Support and EXIP products operated alongside our banking partners. Additionally the Division has a Business Group support team which provides administrative, research and Management Information services to the wider division, including Governance functions and onboarding new banking partners.
• Marketing & Communications Division - responsible for all External and Internal communications within UKEF as well as organising events, organising digital and paid media and generally promoting awareness of UKEF and its product range.

Both roles are exceptional by any standards.  The nature and quality of the corporate and SME businesses that UKEF manages, the strong social purpose underlying our business, and the range of geographies and sectors we cover are second to none. 

 

These roles are very commercially focused, but at the same time provide a public sector purpose. 

 

The demands of either role can be intense, but it is endlessly rewarding in terms of the support UKEF provides to UK businesses, the jobs which it helps create, the families and communities who rely on those jobs, and the overseas communities who benefit from the projects we underwrite.

 

Co-Heads of Business Group – key responsibilities

 

• Member of UKEF’s Executive Committee and Senior Leadership Team all of whom are responsible for translating government export strategy into a working reality. A key advocate in ensuring UKEF delivers the objectives set out in its ambitious Business Plan.
• As well as leading your directorate, being a visible departmental leader, helping shape the departmental culture based on strong values.
• The Co-Heads and Directors of Business Group are also members of UKEF’s Change Board as well as Enterprise Risk and Credit Committee (ERiCC).
• To transform the way in which UKEF addresses the market in line with its strategic ambitions, and in doing so to deliver real value for the UK economy through the companies, jobs and communities supported through greater export volumes.

• Use insight to continue to innovate, develop and enhance UKEF’s suite of products and delivery model to fill identified market gaps, making full use of UKEF’s statutory powers.
• Promoting UKEF’s vision for the future, including fostering a strong performance management culture with a clear focus on delivering results and correct behaviours in accordance with the Civil Service competency framework.
• Working in partnership with Risk Management Division, Chief Operating Officer’s Division, Legal and Compliance Division, back-office functions as well as other internal stakeholders.
• Ensure UKEF is engaged with other government departments, including DBT, HMT, UKGI and FCDO and to ensure that robust relationships are maintained to help support UKEF’s delivery agenda.

Applicants should refer to the candidate information pack for further information regarding the full range of activities and responsibilities for both roles.

Person specification

The successful candidates for both roles will demonstrate the following essential skills, abilities and experience;

 

Essential Criteria

• Proven track record of presenting at Board level within a financial environment combined with a strong understanding of credit and new product development.
• Demonstrable success at building effective teams, attracting and retaining talented individuals as well as taking an active role in developing and mentoring at all levels.
• Outstanding communication and interpersonal skills, applicable at all levels across the business and the ability to demonstrate a high degree of professional credibility in maintaining the confidence of UKEF’s Board, HM Treasury, Ministers, UK Government Investments, and external stakeholders.
• Proven experience of delivering through people by collaborating and leveraging relationships and building capability. Adept at building an internal as well as external network.
• An excellent problem solver, with the ability to create solutions. It is critical that the candidate can see through to the heart of issues.
• In-depth knowledge and understanding of environmental and social risk and how these can impact the development of new products as well as shaping the support of transactions.
• Prior experience of a range of developing market transactions.
• Prior knowledge and experience of operating within a regulatory environment and a strong awareness of good practice in Compliance.
• Experience of working in or having comprehensive knowledge of either:
  • capital markets with a broad product background including structured/ leveraged/ project finance transactions and asset backed lending (or)
  • corporate /commercial banking experience with a strong understanding of trade finance and the SME market.

Benefits

Alongside your salary of £97,000, UK Export Finance contributes £53,465 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

Things you need to know

Selection process details

This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Experience and Technical skills.

The recruitment process is being undertaken by Russell Reynolds Associates on behalf of UKEF.

Please submit your full application by email to responses@russellreynolds.com ensuring that you quote the role title and assignment code 2402-075L in the subject heading of the email.

All applications will be acknowledged. The closing date for applications is 23:59 on Monday 21st April 2024.

Please refer to the candidate information pack, this holds all the relevant information on how to apply, the assessment process and what documentation is required. 

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must meet the security requirements before they can be appointed. The level of security needed is developed vetting (opens in a new window).

See our vetting charter (opens in a new window). People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window). The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria. The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.