Head of Collateral Audit (Hiring Immediately)

Company Description

Shawbrook provides finance to a wide range of customer segments that value the premium experience, flexibility and certainly we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders.

We have a diversified offering, with our innovative lending propositions tailored to meet specific customer needs in carefully selected markets across SME, Real Estate and Personal. Our products range from complex structured credit facilities for growth-focused businesses to mortgages for professional landlords and property investors, as well as simple loans for consumers delivered digitally. We fuel our lending through customer deposits, which we attract by delivering a premium experience, choice and consistently great value to smart savers.

The business model we have created is unique and difficult to replicate, with our ‘best of both’ approach combining deep human expertise with advanced digital, tech and data capabilities. This combination not only allows us to deliver excellent customer experiences, but to do so efficiently and at scale. We are proud of our innovative and agile culture, which drives consistently high employee engagement scores and makes Shawbrook an attractive destination for the best talent. If you’re willing to roll up your sleeves, contribute new ideas and believe anything is possible, you’re our kind of person.

Work with us because you:

• Want to be part of a bank built for the dynamics of the modern world
• Relish a challenge and enjoy a fast-paced, innovative and hardworking culture
• Enjoy finding new and better ways to solve complexity and make things happen
• Want to belong to a diverse culture that stands shoulder to shoulder with minority and underrepresented groups
• Care about society and the environment and want to be part of a business that cares too
• Want to continue to grow professionally and be the best version of yourself

Job Description

The Head of Collateral Audit is accountable for establishing and leading a fully independent, Bank-wide asset and collateral risk audit framework across ABL, Block Discounting and Wholesale portfolios (c£1.5bn exposure). The role will deliver regular audits on clients with robust oversight designed to protect capital, detect fraud, identify systemic control weaknesses, and provide transparent executive insight. The role involves significant exposure to the Chief Banking Officer, Chief Business Risk Officer in the 1st line, and the 2nd Line Chief Risk Officer providing assurance that the collateral bases we are financing are suitable for ongoing funding and the controls in place in the team can effectively identify fraudulent activity.

The role operates independently of first-line credit and operations teams but is expected to be able to work constructively across the Bank to provide comprehensive audit outputs on the quality of collateral we are financing and identify underlying issues with our borrowers. The role holder has unrestricted access to systems, data, files, and personnel required to discharge their responsibilities. Scope, sampling methodology and review approach are determined independently and are not subject to first-line approval or amendment.
The role will be to manage and develop an in-house team, using if applicable external resources to supplement this where necessary. The primary delivery is a best-in-class internal team, with proven expertise and a desire to challenge the status quo and develop testing frameworks and deliver audits designed to identify any potential issues and provide suitable comfort on the customers’ performance and collateral quality.

The role has direct and unfettered escalation rights to the Chief Risk Officer on any material risk, fraud indicator, or control breakdown. Where first-line ownership or remediation accountability is required, findings will also be escalated to the Chief Business Risk Officer and Chief Banking Officer (or direct reports) to ensure timely corrective action. The role holder has authority to initiate thematic reviews, horizontal reviews, and deep-dive investigations across portfolios where emerging risks or anomalies are identified.
You will have direct access to senior leaders and the opportunity to influence a wide range of projects. Your expertise in audit and effective communication skills, and commitment to team development will make a real impact. Beyond the core aspects of the role, you will contribute to the growth and effectiveness of the broader risk function. Success will be measured by the quality of your insights, efficiency of processes, and ability to build strong relationships across the business.

Key Responsibilities

• Design and implement a single, Bank-wide asset and collateral risk assurance framework harmonising methodologies, standards, and reporting.
• Provide independent assurance over ABL, Block and Wholesale portfolios with focus on capital protection and fraud risk.
• Determine scope, sampling, and testing strategies independently, including stepping beyond standard templates where risk indicators arise.
• Provide insight to the 2nd line assurance teams, if necessary, to recommend horizontal and deep-dive reviews where systemic or emerging risks are identified, engaging with the Controls Testing team if appropriate.
• Engage with the 1st and 2nd line conduct and compliance teams to understand the regulatory risks in the portfolio’s being audited, e.g., Consumer Duty, Financial Crime and AML considerations.
• Escalate material findings directly to the CRO and, where appropriate, to the CBRO.
• Deliver a standing quarterly agenda item to Credit Risk Oversight Committee (escalating to the most appropriate committee if required) outlining themes, systemic risks, fraud indicators, and remediation progress.
• Embed data-led assurance techniques including portfolio analytics, anomaly detection, and trend analysis.
• Attend Credit Approval Committee where appropriate to provide additional insight into submissions.
• Build and lead a high-performing team combining audit expertise, commercial judgement, and advanced analytical capability.

Qualifications

Skills & Experience

• Experience in internal audit, asset-based lending audit, collateral monitoring, or credit risk oversight within financial services.
• Experience in auditing financial performance and/or forensic accounting may also be beneficial in the role. Strong technical knowledge of ABL structures, block discounting, and wholesale collateral models.
• Proven experience leading senior assurance or risk teams.
• Strong data literacy with experience applying analytics to risk identification and fraud detection.
• Deep understanding of the three lines of defence model and PRA/FCA expectations.
• Demonstrated ability to challenge senior stakeholders constructively and influence at Executive Committee level.

Education/Professional Qualifications

Relevant professional qualifications are desirable (e.g., ACA, ACCA, CIA or equivalent). Shawbrook is committed to providing opportunities to all candidates and understands that not all candidates may possess formal qualifications aligned to the role. We assess candidates on experience, skills, and impact.

Key Attributes

• Independent and courageous.
• Strong commercial and risk judgement.
• Analytically rigorous and data curious.
• Strategic and forward-looking.
• Credible and influential at Executive level.
• High integrity and professional scepticism.
• Forward-looking with a progressive view of assurance

Additional Information

Your Wellbeing - We take your health and well-being very seriously by providing a range of benefits to give you and your family peace of mind. These include:

• Market leading family friendly policies such as access to our Maternity, Adoption and Paternity policies from Day 1 of your employment
• Free access to Headspace, a mindfulness & meditation digital health app
• Free access to Peppy digital health app that offers personalised support through fertility treatment becoming a parent or menopause
• EAP (Employee Assistance Programme) - Offering you support on a wide range of subjects including financial concerns, mental wellbeing and more general queries around family, work, housing, and health
• Cycle to work scheme
• Discounts on gym membership
• Contributory pension scheme & death in service

Your Lifestyle - It’s important you strike the right balance between your work and personal life. We provide benefits to support you when at work and when you’re enjoying your leisure time.

• Minimum of 27 days holiday per year
• Option to buy or sell holiday days through our flexi-holiday scheme
• Discounts on gym membership nationwide
• Access to discounts on a range of high street and online brands
• Community support and charitable giving

Your Contribution - We’re focused on rewarding those that go the extra mile in helping us achieve our goals.

• Participation in our annual discretionary bonus scheme designed to reward your contribution to our success
• Proudly Shawbrook recognition scheme focused on recognising our role models and thanking our colleagues for a job well done