- Job Title: Credit and Risk Manager
- Salary: £50,000 - £50,000 per annum
- Contract: Permanent
Job Title: Credit and Risk Manager
Location: Bristol, minimum one day/week in the office, open to flexible working
Reporting To: BBRC Board, line managed by BBRC Finance Director
Contract: Permanent full-time ( part-time/flexible working considered for the right candidate)
Salary: £50,000-£55,000 commensurate with experience
Date closes: Friday, 10th December, 2021
Role Purpose:
BBRC is looking for someone exceptional to support its growth and to help the organisation safely build on its track record of success to date. Working closely with the BBRC Board and senior management team, the Credit and Risk Manager will ensure that we are compliant with existing fund requirements and FCA regulations and ensure that risk and reporting is well managed. You will also support us to manage risk as we develop new funds and funding structures, helping to shape the future structure of BBRC as we grow.
This unique role requires an experienced professional, with strong commercial acumen, good attention to detail, and the ability to communicate effectively to a wide variety of stakeholders. Essentially, we are seeking someone who is inspired by our mission, with a commercial head and a social heart.
BBRC: Who We Are
Bristol & Bath Regional Capital CIC (BBRC) makes use of investment to address systemic inequalities in our region. We believe that an inclusive local economy just works better. When everyone plays their part, our regional economy will be more creative, resilient, and vibrant. We’re working to be the driving force behind this change.
BBRC is embarking on an exciting stage in its development. We have made a strong start having created and advised on our first-place based impact investment fund (www.bristolcityfunds.co.uk) which has received national recognition, and through our work we have been recognised by the NatWest SE100 index as one of the top 100 social enterprises nationally for the last two years running. We have an ambitious plan to deliver long-term impact in the West of England region.
BBRC is currently FCA regulated as an Appointed Representative of Investing for Good, and partners with a regulated Fund Manager and investors to achieve its aims. A long-term aspiration as we grow is to develop in-house FCA regulated status.
Key responsibilities:
Investment risk management – supporting fund deployment:
- Support the Investment Manager with structuring deals and preparation of proposals to Investment Committees.
- Represent BBRC as a voting member of Investment Committees.
- Maintain security and credit risk ratings to inform decision-making.
- Manage relationship with legal advisors, working closely with the Investment Manager to review legal documentation, arrange security, and manage legal cost budget.
- Review loan and equity agreements, including repayment schedules, from a credit risk perspective.
- Support Investment Manager with completion process for approved investments including anti-money laundering, credit and know-your-customer checks, dealing with client and third-party queries, ensuring appropriate risk management in place.
- Liaise with Fund Manager in investment pay out process, including collection of arrangement fees.
Portfolio monitoring and credit control:
- Keep documentation provided to clients and Fund Manager up to date, reflecting any revisions to drawdown dates and change requests.
- Monitor loan repayments and deal with credit control issues such as missing or late payments, errors, or requests to amend terms.
- Collect financial monitoring data from clients (such as quarterly accounts), review for any issues or indications of risk and recoverability of investments.
- Work with the Finance Director and Investment Manager to manage loss forecasts, tracking the use of underwriting provisions where applicable.
- Collect and review impact monitoring data from clients, contribute to impact reporting.
- Support the Investment Manager in taking appropriate action in managing existing investments as necessary.
Investor relations and reporting:
- Maintain investment policies and processes.
- Support Chair of Investment Committee with planning meetings and other matters.
- Produce quarterly investor reports and deal with investor queries.
- Deliver reporting to other funding partners, internal boards and committees, and other stakeholders.
- Prepare quarterly investment drawdown requests to investors.
- Track fund financial performance, working with the Finance Director to maintain fund models, analyse forecast investor returns, and advise the Investment Manager and the Investment Committees on strategies to deliver the required return.
Regulatory (FCA) compliance and governance:
- Lead relationship with the provider of Appointed Representative status (Investing for Good) and implement compliance requirements.
- Support BBRC to secure appropriate regulatory permissions for advising and managing new funds including leading the transition to becoming a fully-fledged FCA regulated fund manager if so required (with support from external sector experts and advisors).
- Manage compliance with the subsidy control regime and other regulatory compliance as applicable.
- Support Finance Director with ensuring appropriate policies and procedures are in place to comply with regulatory and funder requirements.
- Support directors of the General Partner to the Fund, arranging the Board meeting, taking minutes, and arranging other governance meetings as required (such as investor meetings).
- Provide wider regulatory advice and input to the BBRC business, covering legal, compliance and contract risk assessment in relation to funding agreements and contracts.
- Provide input and support with governance matters across the business as required.
Skills and experience:
We are seeking a commercially minded individual who would like to make a positive difference to society. Ideally, you will have a background in one of following fields – financial services, legal, or risk. We are looking for someone who is confident speaking to Boards, Regulators, and Investment Committees with suitable gravitas, while also willing to ‘muck in’ and deal with the day-to-day realities of working in a small growing business.
We believe our work will be stronger with greater diversity and welcome applications from those who bring difference to our team. BBRC welcomes the whole person to work, and we understand that each of us bring our experiences, our backgrounds, and our own unique perspective to what we do. We are committed to being a diverse organisation that is truly representative of the communities we serve; that said, we don’t appoint staff in order to represent specific groups or organisations. We aim to be an equal opportunities employer with an inclusive environment, where all team members are encouraged to contribute to their fullest potential. BBRC prohibits discrimination and harassment of any kind, on any grounds. We encourage applicants of all ages.
Essential:
- Demonstrable experience in credit risk management, security, and working with a lending or investment portfolio.
- Strong attention to detail, coupled with good interpersonal skills.
- Ability to communicate effectively with, and report to, a wide variety of stakeholders.
- Proven experience of delivery of results within a growing business environment.
- Strong commercial acumen that has been demonstrated in a successful investment business or similar transferable context.
- Exposure to regulated business environments, with a demonstrable track record of having managed risk in a proactive and pragmatic way.
- Proficiency in Excel, PowerPoint, and Word.
- Social values aligned with the vision and mission of BBRC.
Desirable:
- Social enterprise experience and/or understanding of social finance.
- Relevant investment qualifications.
- Experience of working within FCA regulations and the process of obtaining regulatory approvals for advising and managing investment funds.
More information about BBRC can be found here: www.bab-rc.uk.
Please let us know if you have any access needs, we will seek to make reasonable adjustments at interview and in the work environment to accommodate these where possible.
