Active Portfolio Management Analyst, Specialised Product

The principal role of the Department is to support UK companies exporting to foreign markets by providing insurance, loans and guarantees against non-payment or non-performance by UK exporters and overseas buyers. To perform its statutory function, UKEF must assume significant credit risks on behalf of UK exporters. Consequently, the financial success of the Department is crucially dependent upon sound credit risk assessment, particularly given the elevated default risks associated with emerging markets.

The Risk Management Group (RMG), under the leadership of the Chief Risk Officer (CRO) is responsible for the management of UKEFs risk portfolio, including new business credit risk assessments. RMG operates via 5 Divisions, responsible for Enterprise Risk Management, Risk Assessment, Analysis (Pricing & Portfolio Risk, Operational Research & Analysis, and Economics & Country Risk), Portfolio Management, and Restructuring, Claims & Recoveries.

The Risk Assessment Division (RAD) is responsible for providing probability of default (PD) ratings and loss given default (LGD) assessments on all non-sovereign risks assumed by the Department. RADs case work is split currently into three teams: Corporates and Strategic sectors; Project Finance; and Specialised Products Risk (Aerospace and Financial Institutions (banks & NBFIs) & Active Portfolio Management (see below)).

About Active Portfolio Management

The APM Branch identifies packages and transfers UKEF risk with financial intermediaries. Once transactions have been approved, APM monitors risk concentration and explores methods to reduce portfolio risk. APM works closely with all aspects of the business to develop a co-ordinated strategy to optimise UKEFs use of funds. APM delivers two key benefits: increases capacity under country limits; and reduce the likelihood of cash-calls on the exchequer. APM supports UK exporters and ensures this is carried out in the most cost-efficient way.

To undertake diverse tasks as directed in providing support to the Senior Manager (APM), covering all functions carried out by the team. This will include:

• Portfolio Management: Monitoring and Analysing Portfolio Data and Risk Concentrations, Executing Risk Transfers and Management of Existing (Re)Insurance Tranches.
• Assist with Relationship Management (Brokers and (Re)Insurance counterparties)
• Develop relationships with financial services companies
• Policy development, Training and Project work

The role currently does not involve line management, however in future, line management responsibilities could be added to the remit, including, ensuring that all regular staff management, reporting, and training requirements are met and standards complied with.

1. Portfolio Management (50%)
   • Monitoring and analysing portfolio Data and Risk Concentrations:
     • Data handling, presentation & analysis
     • Detection of risk concentrations
     • Prepare and attend pipeline meetings with Business group, Post Issue Management and other divisions with UKEF as appropriate
     • Assist in determining target assets for risk transfer
   • Risk transfer:
     • Private Insurance Market:
     • Transaction structuring
     • Presentation to the Insurance market
     • Preparation of ERiCC and HMT papers
     • Liaising with Analysis Division and wider RAD ensure pricing calculations are run optimally
     • Operational execution/assistance of front-to-end insurance placement
   • Alternative Risk Transfer solutions:
     • Support in conducting research and setting up of potential new routes to market to enhance APMs offering
     • Support in the development of technical papers for ERiCC and HMT
   • Liaise with UKEF Commercial and observe relevant policies and standards
   • Management of Existing Insurance Tranches:
     • Assist with Amendments; payment delays and claims and recoveries handling liaising with relevant colleagues where appropriate.
2. Assist with Relationship Management (Broker and (Re)Insurance counterparties) (10%)
   • Attend Meetings with Broker and (Re)insurance counterparties to follow changes in risk appetite and general market developments
   • Resolve queries with respect to existing (re)insured assets
   • Develop new appropriate counterparty relationships
   • Monitor utilisation against ratings and counterparty limits when executing new transactions
3. Attend relevant conferences and develop relationships with financial services companies (5%)
   • Benchmark UKEF portfolio initiatives against peer ECAs other UK Government departments and private sector best practice.
   • Join in meetings with banks, investment funds and other peers/counterparties
4. Policy development, Training and Project work (15%)
   • Contribute to policy improvement and ongoing operational efficiencies within APM
   • Assist peer divisions across UKEF with policy developments involving APM
   • Responsibility & ownership for a key strategic project(s)
   • Remain up to date with compulsory training and attend career development training
5. Systems, processes and procedures (10%)
   • Ensure that APM-related case data is entered into UKEF corporate systems in an accurate and timely manner and kept up to date over time
   • Liaising with internal colleagues as necessary to diagnose and correct any potential data discrepancies with existing contracts as well as determine the optimal method for recording new transactions on UKEFs corporate systems
   • Ensure APM governance process maps are up-to-date
6. Corporate Contributions (10%)
   • Support in wider RMG BAU and project activities, in conjunction with the relevant segment head.

This list is not exhaustive, and you may be required to carry out additional duties according to business needs.