Risk Director

  • Type: Full Time
  • Location: Reigate, Surrey
  • Posted: 26 days ago


Hyundai Capital UK Ltd (HCUK) is a joint venture company established by Santander Consumer UK (SCUK) and Hyundai Capital Services (HCS) Korea in 2012. It operates under the Hyundai Finance and Kia Finance brands, providing funding solutions for both Dealers and customers.

Job Purpose

Act as Chief Risk Officer (CRO) for HCUK. Reporting to the Managing Director as a member of the Senior Management Team, with additional reporting lines into the SCUK CRO and HCS CRO.

Responsible for the identification, monitoring, management and reporting of key businesses risks, including conduct and operational risk. Primary responsibility for all credit related risk, including customer, asset and residual values as well as dealer wholesale risk. Manage and develop HCUK’s Quality Assurance and Improvement Programme.

The CRO will set, recommend to the Board and monitor the Risk Charter and Risk Appetite Statement, along with related risk policies, procedures and controls.

This role is considered a Senior Manager Function (SMF) under the FCA Senior Manager and Certification Regime (SMCR).

Key Accountabilities

1. General strategic

Responsible for the identification, management and control of HCUK’s conduct, operational, credit and asset risk and other business wide risks as agreed.

  • Develop, gain Board approval and maintain HCUK’s Risk Charter, Appetite and Register and associated KPIs and Quality Assurance (QA) programme.
  • Chair, lead or delegate authority to lead the Risk Control Committee, Operational Risk Committee and conduct Risk Committee where policies, procedures, key risk indicators and internal controls relating to credit, residual value, operational and conducts risk are reviewed and monitored.
  • Assess, continuously monitor and effectively manage all related risk aspects of the operation in line with agreed KPIs.
  • Set, manage, develop and comply with the related risk and QA policies, procedures, controls and reporting.
  • Participate in setting company strategic objectives for the following year and monitor performance against these objectives.
  • Develop bad debt numbers for budgets and forecasts, participate in setting these for the wider company. Set plans, budgets, related KPIs and measures
  • Manage the operation in line with the agreed plans, budgets and KPIs.
  • Own, develop and update bad debt related provisioning policies, in line with Joint Venture Agreement and governance requirement from SCUK, San UK and HCS.
  • Develop, validate, implement and monitor the internal RV forecasting model.
  • Proactively identify opportunities for the business and product development.
  • Manage and develop the Risk Managers and their teams.
  • Develop close, effective senior working relationships with our OEM partners, HCS, SCUK’s relevant departments, internal and external auditors and other related 3rd party suppliers and organisations.
  • Ensure compliance with all related polices regulations and mandates.
  • Model and monitor the risks and associated portfolios in accordance with Hyundai Capital policy and procedures.
  • Identify, sponsor and deliver specified projects as a part of the strategic and operational plans.
  • Champion and demonstrate an effective TCF culture and ethics.

2. Senior Manager Function

The Senior Manager Function allocated to this role is SMF4.

  • As a Senior Manager of HCUK and holder of Function SMF4 the role holder is expected to; demonstrate the highest level of integrity; lead by example to influence the corporate culture and strive to ensure impeccable standards of conduct across the organisation; comply with the Statements of Principle, Codes of Conduct and Codes of Practice issued by the FCA and contained within the regulator’s versions of APER. In addition, ensure all UK legislation and regulatory requirements are respected and complied with at all times and ensure an open and transparent relationship with all regulatory bodies as amended from time to time.
  • Adhere to the both the Individual Conduct Rules and the Senior Manager Conduct Rules as they apply to the role as amended from time to time.
  • Adhere to all the SMCR regulatory requirements as amended from time to time.
  • The prescribed responsibility is: Managing the firms internal stress tests and ensuring the accuracy and timeliness of information provided to the FCA for the purposes of stress testing (Risk only).
  • The statement of responsibilities is set out in Appendix 1 to this job description.

3. Planning and budgetary control

  • Set an annual business plan and budgets in-line with HCUK’s overall objectives, including timings and high-level deliverables, based on the strategic goals established for the department. Deliver the plan in-line within the prescribed timings.
  • As a project sponsor, plan and manage any associated expenditure within agreed budgets.
  • Underwrite mandates to a company level.

4. Technical knowledge

  • Be able to demonstrate a competent knowledge and understanding of the FCA regulations, the principles and application of a TCF culture.
  • Maintain and demonstrate an up-to-date awareness of all enterprise-wide risks, compliance, QA and regulatory requirements, and market best practice. Work with the business and related partners to continually refine HCUK policies and processes. Act as a risk and QA subject matter expert within the organisation
  • Previous experience in Consumer Credit Analytics, Underwriting and/or model management governance would be beneficial.

5. Stakeholder engagement

  • Establish a sound senior working relationship with all areas of the business, including external key stakeholders, in particular HCS, SCUK, and related group companies, Kia Motors UK and Hyundai Motor UK.

6. People management and development

  • Actively support and develop the risk team through agreed tangible training and development programmes aligned to the responsibilities, experience, qualifications and competencies as defined in their job specification, in accordance with HCUK policies and procedures. Where applicable agree progression targets and routes, along with objectives and timescales.
  • Monitor performance through clear and tangible objective setting in-line with HCUK’s policies and processes.
  • Actively identify and support talent management and progression.
  • Provide formal and informal coaching and mentoring to all staff.

7. Communication and reporting

  • Demonstrate effective communications with all related regulatory and compliance bodies, SCUK, HCS services head office departments, our OEM partners and other key stakeholders.
  • Identify, develop and maintain high quality MI reporting suites and dashboards, risk models and other tools to effectively control the business in line with the Risk Charter, Appetite and Agenda and established KPIs.

8. Insight and continuous improvement

  • Establish an on-going review process to continually improve and refine the company’s QA, controls and performance to ensure continued adherence to legislation, regulation and internal policy, as well as a continuous improvement approach and culture.

9. Risk and compliance

  • In line with the company’s risk and compliance statement of responsibility and objectives, is responsible for the control of risk and compliance in line with the risk charter, appetite and related limits triggers and thresholds, the risk framework, role profile responsibilities and adherence to the compliance manual.

10. Other

  • Deputise for the Managing Director and Deputy Managing Director as well as other SMT members as required.
  • Carry out CRO duties at Board level.
  • Any other tasks from time to time as may reasonably be requested.

Key Competencies

- Planning

Must be capable of developing and delivering coherent and effective high-level (strategic) plans, as well as project plans and detailed learning and development plans.

Effectively deliver agreed plans and budgets with the ability to re-assess and re-plan to meet objectives.

- Communication

Must possess excellent written and verbal communication skills and be able to effectively communicate with and present to both internal and external stakeholders across all business levels and maintain an effective role at Board level.

- Teamwork

Must be an excellent team player, able to establish strong working relationships with stakeholders, colleagues and business partners, both internally and externally.

- Time Management

Must display sound time management skills by delivering activities within prescribed timeframes through the effective prioritisation of actions across multiple projects and on-going programmes.

- Influencing and negotiating skills

Must be able to engage with internal and external stakeholders at senior levels in order to reach mutually beneficial business outcomes.

Required Experience

Given the scope of this position within an FCA regulated environment, the SMF status, combined with the related responsibilities, it is essential that the job holder has the following experience:

  • Significant demonstrable and evidenced risk, credit and QA management experience within regulated financial services, preferably automotive related, together with the required soft skills
  • Demonstrable competence in the broader areas of financial services operations including:
    • Risk appetite and policy setting and control
    • Financial controls and underwriting
    • Sales processes and channels
    • Risk modelling and data analytics
    • Conduct and operational risk management and delivery
    • An appreciation and experience of wider business risk management
  • Has an evidenced understanding of relevant credit risk policies, controls and modelling techniques, processes, measures, related MI/reporting and associated technical knowledge.
  • Has an evidenced knowledge of policies and procedures within financial services regulated and compliant environments.
  • Is able to produce effective working documentation and presentations, including business case proposals and requirements, briefs and presentations.
  • Has an evidenced experience and competence in legal, regulatory and compliance issues relating to the provision of consumer and corporate credit products. Can demonstrate a high level of understanding of the principles encapsulated within ‘Treating Customers Fairly’ and operational/conduct risk.
  • Significant experience of the use of risk modelling/stress-testing and the use of data to analyse and forecast customer and asset-based risks.
  • Is able to demonstrate experience of managing and developing a high performance team within a TCF, credit and asset risk related environment.

In addition to the above it is expected that any candidate is able to display a good understanding of the general market sector, can exhibit sound business acumen, have excellent interpersonal skills and is comfortable and confident when dealing with internal and external Board-level management.


  • Appropriate level of education and a recognised credit risk management qualification as identified in the SMCR framework.

Other Information

  • The position may require international as well as domestic travel from time to time.
  • HCUK employees are currently hybrid working [mixture of home/ office]. HCUK’s head office is in Reigate, Surrey.

Remuneration Package

  • Competitive salary package, in line with experience.
  • Eligibility for annual bonus, based on company and individual performance.
  • Company car / car allowance.
  • 30 days holiday per annum, plus bank holidays, and option to take part in flexible holiday scheme.
  • Company pension scheme with generous employer contributions.
  • Company sponsored individual private medical healthcare insurance.
  • Benefits supporting you and the family, such as private medical insurance, death in service benefit, income protection.
  • Voluntary healthcare benefits at discounted rates such as private medical insurance for family, dental insurance, health care cash plan and health assessments.
  • Employee car scheme (through salary deductions).
  • Employee assistance programme.
  • Enhanced family friendly policies.
  • Flexible working opportunities.

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