Senior Credit Manager
SENIOR CREDIT MANAGER
HOUSING GUARANTEE SCHEMES
DEPARTMENT FOR COMMUNITIES AND LOCAL GOVERNMENT
An experienced Senior Credit Manager is sought for a flagship Government programme to expand the provision of large scale professionally managed rented accommodation, whilst attracting institutional investment into the rented sector and boosting UK economic growth. The successful candidate will play a key role in delivering Government’s aim of a bigger and better rented sector, leading the credit analysis and scrutiny work on the £10 billion Housing Guarantee Schemes (Affordable and Private Rented) and driving their successful implementation.
Background to the role
Government’s Housing Guarantee Schemes are intended to help expand the provision of large scale professionally managed rented housing and support economic growth. The schemes will use the Government’s fiscal credibility to reduce the cost of borrowing for housing providers. They will also attract investment from fixed income investors seeking a stable, long term return on their investment without exposure to residential rental property risk.
There are two guarantee schemes: one to support the delivery of large scale professionally managed purpose built accommodation for private rent and a second to support delivery of additional affordable homes. Government will guarantee up to £10 billion of housing providers’ debt through the two schemes, for up to 30 years.
Role outline
The Department for Communities and Local Government (DCLG) is putting in place a specialist professional credit team with the commercial expertise to deliver the schemes effectively on behalf of taxpayers while managing the risk to Government.
The Senior Credit Manager of the team will (i) have responsibility for getting the credit team up and running, ensuring that its processes are effectively integrated with other relevant functions within the Department and with the external delivery partner; (ii) oversee the credit analysis and due diligence work of the credit team at the inception of each transaction and as required on an ongoing portfolio monitoring basis; and (iii) sit as a member of the DCLG Investment Committee, making recommendations on which applications for guarantee support should be approved.
Candidates will benefit from working in an intellectually exciting environment and gaining exposure to Government policy-making processes.
Person specification
We seek a senior financier with relevant credit and lending management experience at senior level, including experience of setting up new credit teams. Knowledge of the Registered Provider sector, cash flow based finance and residential property markets is necessary. Experience of capital raising through the bond and banking markets is desirable although not essential.
Location
London (Victoria)
Appointment terms
The post is initially for a fixed term until March 2015, subject to review.
Remuneration is £90,000.
Secondments will be considered.
DCLG is an equal opportunities employer.
How to apply
For further information, including details of how to apply, please email housinggrowth@communities.gsi.gov.uk
Closing date for applications: 12 noon on Monday 19 August 2013
Interview dates for shortlisted candidates: Weeks commencing 26 August 2013 and 2 September 2013
Contact for additional information
For additional information, please email housinggrowth@communities.gsi.gov.uk or call 0303 444 2851.
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