Head of Project Finance and Aerospace Restructuring

Job summary

The Restructuring, Claims & Recoveries Division (RCR) is part of Risk Management Group. It was formed in the summer of 2023 by the merging of a number of distinct restructuring teams with the claims and recoveries function. RCR incorporates:

• Sovereign Debt Sustainability & Restructuring (SDSR)
• Aero Post-Issue & Restructuring
• Corporate & SME Restructuring
• Large Corporates and Project Finance
• Claims, Recoveries & Impairments

Job description

The Head of Project Finance & Aerospace Restructuring will be responsible for managing a team of 6 (1x G7, 3x SEO and 2x HEO – exact composition may change) reporting to the Head/Deputy Head of Restructuring, Claims & Recoveries.

The role involves reviewing, analysing, presenting, negotiating, documenting and closing complex restructurings on UKEF’s project finance and aerospace (asset backed) portfolios, some of which include large-scale sophisticated insolvency workouts (Chapter 11 or equivalent). These negotiations are prolonged, detailed, intensive and complex involving sophisticated counterparties who are very well represented and advised. The role involves liaising with and marshalling the policy position of the finance parties such as the borrower, other obligors, covered banks (agents, trustee and lenders) and external lawyers and financial advisers. The role involves the articulation and presentation of the financier’s position (UKEF as guarantor of a portion of the underlying lending) in negotiation often in adversarial and hostile situations not just with the borrower but with intercreditor parties whose interests may and will diverge from UKEF’s. The role demands an ability to reconcile commercial positions as well as to lead, influence and persuade the negotiation and to make reasoned and justifiable decisions in time pressured circumstances where the postholder will be the ultimate decision-maker.

The team will develop the UKEF capability in this area where Project Finance. Aero and EDG (Export Development Guarantee) restructures are relatively rare but increasing. The responsibilities in project finance and aerospace restructuring require a blend of technical expertise , judgment-making, and professional development in the execution of complex restructuring in a pressurised and sensitive environments given counterparties and amounts at risk. Postholder will be expected to help junior team members understand intricate deal structures, credit dynamics, and stakeholder negotiations, while contextualising lessons from live transactions—such as restructuring processes, covenant negotiations, and multi-creditor dynamics—into a bank of practical learning and succession planning. Postholder will play a critical role in teaching and mentoring analytical rigour in reviewing models, challenging assumptions, and reinforcing best practices in risk assessment and documentation. In restructuring scenarios postholder will guide juniors through uncertainty, demonstrating how to manage distressed borrowers, navigate competing creditor interests, and maintain disciplined communication under pressure. Equally important is fostering soft skills—judgement, resilience, and collaboration—ensuring that SEO and HEO cohort can contribute effectively across cross-functional teams and engage confidently with senior stakeholders as their responsibilities grow.

The job holder is required to deal with and retain the trust and confidence of various external stakeholders such as borrowers, exporters, Agent banks, and external counsel.

The role also involves dealing with (persuading, influencing and leading) our counterparts in other Export Credit Agencies worldwide either in the capacity as lead insurer or re-insurer.

The role is the point person for UKEF on deal teams consulting with and leading internal stakeholders such as the underwriters (in UKEF’s Business Group), as well as colleagues form our Risk Divisions (Risk Assessment Division, Analysis Division and the performing Portfolio Management Division), Policy (UPP) and the LCD team.

Main Activities

1. Overseeing the restructuring of distressed PF /Aero cases.
   • Meetings with Banks/ECAs/Borrower/Sponsors/Financial and External Legal Advisers
2. Shadowing cases in the Performing portfolio showing initial signs of stress and providing advice to PMD.
   • Working in conjunction with PMD colleagues to shadow manage transactions that are showing signs of credit deterioration/distress.
3. Senior stakeholder engagement presenting restructuring proposals to ERiCC.
   • Leading on making recommendations to ERiCC on restructuring proposals and other internal and cross-government stakeholders including HMT.
4. Policy input, governance support, continuous improvement.
   • The jobholder will be responsible for providing input into UKEF policy on both new and existing products (from both a PF and Aero perspective) as well as other areas of governance including lessons learned on an iterative basis.

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

Person specification

UK Export Finance is looking for motivated individuals with a desire to learn about the business. Successful candidates will be provided not only with functional training to enable them to do well in their role, but also with personal development to help them to achieve their career ambitions. Please note that the person specification below outlines at which stage(s) you will be assessed on how you meet the criteria for the role(s) including:-

A = assessed at application stage I = assessed at interview stage = assessed at presentation stage

Essential

Qualifications

• Evidence of continued professional development in a relevant financial, legal, risk or restructuring discipline. (A)

Knowledge

• Detailed , including the restructuring and documentation commonly used in asset backed and project financings. (A, I)
• Knowledge and experience of big ticket restructurings including insolvencies. (A, I)
• Understanding of corporate balance sheets and the impact of analysis on UKEF as the ultimate risk (A, I)
• Knowledge of stakeholder environment and potential challenges, including reputational, commercial, legal and public relations risks. (A, I)
• Knowledge of UKEF financing products and internal and external commercial stakeholder (A, I)
• Detailed knowledge of our statutory obligations and mission statements so that decision making is always within appropriate parameters. (A, I)
• Knowledge of geopolitical, sector and macroeconomic risks affecting infrastructure, aerospace and export finance transactions. (A, I, P)

Skills/Ability

• Excellent written communication skills, particularly for preparing committee papers and restructuring recommendations. (A, I)
• Excellent leadership and people management skills, including coaching and developing high-performing teams. (A, I)
• Ability to analyse complex financial structures including subordinated lending, JOLCOs, tax structuring, mezzanine financing and how that drives the commercial positions of the counterparts to our deals as well as our own position as lead and intercreditor. (A, I)

Experience

• Demonstrable experience leading teams through complex restructuring transactions while developing organisational capability, mentoring junior colleagues and promoting high standards of analytical rigour, governance and decision-making. (A, I, P)
• Experience providing strategic advice and recommendations to senior executives, governance committees and government stakeholders on complex financial and restructuring matters. (A, I, P)
• Experience working with legal teams on contractual renegotiation, documentation and implementation. (A, I)
• Experience in leading negotiations with borrowers and covered lenders, intercreditor issues, and leading reinsuring Export Credit Agencies. (A, I)

Behaviours

We'll assess you against these behaviours during the selection process:

• Making Effective Decisions
• Leadership
• Managing a Quality Service
• Delivering at Pace

Technical skills

We'll assess you against these technical skills during the selection process:

• Presentation - a topic agreed by UKEF and provided to candidates in advance of the interview.
• Technical Question - You will be assessed across your technical expertise and acumen (Lead criteria in the event of tied scoring)

Benefits

• Learning and development tailored to your role
• An environment with flexible working options
• A culture encouraging inclusion and diversity
• A Civil Service pension with an employer contribution of 28.97%

Things you need to know

Artificial intelligence

Artificial intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance (opens in a new window) for more information on appropriate and inappropriate use.

Selection process details

This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Experience and Technical skills.

We are assessing candidates using Success Profiles and Line Management Standards (see Appendix 1) and across the whole process we will assess your Experience, Technical, and Behaviours and Line Manager Standards as highlighted below.

The application must be completed by 23.55 on the day of the closing date for it to be accepted.

Use of Artificial Intelligence (AI)

Artificial Intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance for more information on appropriate and inappropriate use.

Please ensure that you read through the Candidate Information Pack attached to this advert, before applying.

All applications will be sifted against our essential criteria outlined in the personal specification.

• Qualification
  • Evidence of continued professional development in a relevant financial, legal, risk or restructuring discipline. (A)
• Statement of suitability - you should fully articulate in 500 words how you meet the essential criteria outlined in the person specification within the Information Pack.

For the initial sift your application will be evaluated against:

1. Experience - CV / Application and Statement of Suitability

In the event of a high volume of applications, there will be a pre-sift on the following essential criteria:

• Detailed , including the restructuring and documentation commonly used in asset backed and project financings. (A, I)
• Excellent written communication skills, particularly for preparing committee papers and restructuring recommendations. (A, I)
• Demonstrable experience leading teams through complex restructuring transactions while developing organisational capability, mentoring junior colleagues and promoting high standards of analytical rigour, governance and decision-making.(A, I)

If you are successful following the sift stage, you will be invited to an initial interview, to be held onsite at 1 Horse Guards Road; this will include the following assessment:

1. Behaviours/ Experience - a formal panel interview where you will be interviewed across all four behaviours highlighted below and in Appendix 1.
   1. Behaviour - Making Effective Decisions
   2. Behaviour - Leadership (demonstrating the Line Management Standard - Decision)
   3. Behaviour - Managing a Quality Service
   4. Behaviour - Delivering at Pace
2. Technical - you will be assessed across your technical expertise and acumen, in relation to the essential criteria
   1. Presentation - a topic agreed by UKEF and provided to candidates in advance of the interview
   2. Technical Question - You will be assessed across your technical expertise and acumen (Lead criteria in the event of tied scoring)

Details of interview panel members will be e-mailed to all successful candidates who are invited for interview.

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a criminal record check.Successful candidates must meet the security requirements before they can be appointed. The level of security needed is security check (opens in a new window).

See our vetting charter (opens in a new window).People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

The Civil Service Code (opens in a new window) sets out the standards of behaviour expected of civil servants.

We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.The Civil Service also offers a Redeployment Interview Scheme to civil servants who are at risk of redundancy, and who meet the minimum requirements for the advertised vacancy.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see theCivil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).

Apply and further information

This vacancy is part of the Great Place to Work for Veterans (opens in a new window) initiative.Once this job has closed, the job advert will no longer be available. You may want to save a copy for your records.

Contact point for applicants

Job contact :

• Name : UKEF Recruitment
• Email : Recruitment2@ukexportfinance.gov.uk

Recruitment team

• Email : Recruitment2@ukexportfinance.gov.uk

Further information

Should you have a complaint or wish to raise any concerns regarding the recruitment process, please e-mail your complaint to the Head of Pay and Resourcing (UKEF) at Recruitment2@ukexportfinance.gov.uk and include “Complaint” in the subject heading. Should you remain dissatisfied following UKEF’s investigation then you can refer your complaint to the Commission - http://civilservicecommission.independent.gov.uk/making-complaint.

Attachments

Information Pack - Head of Project Finance and Aerospace Restructuring Opens in new window (pdf, 4435kB)