Lending Associate - Virgin StartUp
Job Title: Lending Associate
Term: Full Time (4 months fixed term to start in October 2016)
Reporting to: Head of Investment
Location: Central London
With decades of entrepreneurial adventures behind us, it's time we supported the next generation of British entrepreneurs that want to take the plunge and start something amazing. So, we're here, working on a not-for-profit basis, to support entrepreneurs that are looking for the advice, funding and mentoring needed to get their business idea off the ground. Virgin Start Up, by entrepreneurs, for entrepreneurs.
Do you love all things start up? Do you enjoy reading about new businesses trailblazing their way through the startup scene? Do you like getting to the heart of a business proposition and relish the opportunity to provide feedback and guidance to aspiring entrepreneurs? If so, this role could be for you!
Virgin Start Up (“VSU”) is The Virgin Group’s not-for-profit organisation established to provide Start Up Loans, business advice and mentoring support to budding entrepreneurs in the UK.
We are looking for a highly experienced and entrepreneurial professional, with a strong and demonstrative understanding of the challenges facing early stage start-up businesses. You will help us perform due diligence on business submissions and decide which ones are suitable for Start Up Loan funding.
As well as having strong business acumen and a passion for entrepreneurship, you should possess the range of skills and experiences described below.
Key Elements to the Role
- Assessing business plans and cash flow statements to evaluate the viability of start-up businesses across a diverse range of industries.
- Analysing the suitability of an applicant / business for loan funding, including their ability to repay the Start Up Loan.
- Ensuring all required data and information is obtained to make informed lending decisions and that complete submissions are retained in line with VSU requirements.
- Making final decisions on whether to approve or decline loan applications in line with current credit policy and VSU guidance.
- Providing clear, concise and constructive feedback to applicants where we’re unable to support a particular business and/or entrepreneur.
- Assisting in maintaining a high standard of applications across our network of partners by providing feedback / guidance to business advisors and partner organisations as required. This includes collating and sharing best practice between partners.
- Ensuring work conforms to the procedures and standards set out in VSU’s operations manual; and
- Any other tasks as required by the Head of Investment from time-to-time.
Knowledge and experience
- Strong experience of analysing business plans and financial forecasts
- Knowledge of key business processes and aspects that affect the success of a business start up
- Understanding the impact of economic and market conditions and how they impact on the viability of the business
- Proven understanding of commercial business gained through either SME management or experience of running own business would be desirable.
- Well-developed analytical skills including the ability to assimilate complex information, identify and prioritise key issues
- Accountancy qualification and / or experience in making lending decisions and assessing credit risk desirable
- Strong IT skills, proficient in Microsoft Office especially in Excel.
- Familiarity with the start-up eco system
Competencies and behaviours
- Excellent planning, organisational and communication skills, both written and verbal
- Ability to operate in a dynamic working environment, handling multiple tasks and deadlines
- Accustomed to delivering excellent results against targets and meeting deadlines
- Self-starter and strong team player
- Flexible and adaptable
- Resourceful and resilient
If you would like to apply please email a CV and covering letter to ‘firstname.lastname@example.org’ with the job role as the subject line.