Job Description

This is the Internal Only Recruitment Site for UK Research and Innovation Staff for roles within Innovate UK (UKRI).

Please apply for jobs via this site only if you are employed by UK Research and Innovation (employees with access to Innovate UK's Workday system may apply via the "Careers" application within the system)

If you are not a current UKRI employee you can view vacancies at the externally advertised stage at the links given in the "About Us information on the right". If you wish to apply for the position below, please ensure that you comply with the requirements of the recruitment process by submitting both a full CV and application letter. Ideally, you should also advise your manager of your application.

Applications must be submitted by

17-07-2026

Senior Credit Analyst

You will work within a team of Analysts providing support to a Credit Specialist in assessing new transactions and/or a Relationship Manager in supporting a portfolio of high risk, high need loan beneficiaries.

*Please note this advert will close on the 16th of July 2026 at 23.59pm.

Watch our video “Why Join Innovate UK?” here

Title: Senior Credit Analyst

Band: UKRI Band E (UKRI Ts & Cs)

Salary: £46,743 gross per annum

Reports to: Head of Credit

Location: Field based

Contract: Fixed Term (23 months)

Employees applying for any opportunity which may mean being away from your substantive role for a temporary period of time, please refer to the Recruitment Policy for further information in the first instance. If you are made an offer, please ensure you liaise with your Line Manager and the designated HR Team as soon as possible in order that implications of any move are clear and understood, prior to a move taking place.

Innovate UK recognises the importance of work-life balance and we will be happy to discuss any requests for flexible working arrangements.

Job Purpose:

You will operate within a team of Analysts, providing support to a Credit Specialist in the assessment of new transactions. Subject to experience and demonstrated capability, you may be assigned an individual caseload to facilitate your professional development.

We particularly welcome female applicants as women are under-represented within Innovate UK in this type of role.

Key Responsibilities and Accountabilities:

Origination – working with a lead Credit Specialist:

• Analysing the financial and non-financial strength of applicant businesses from information provided and verifying this against external sources where applicable, including sensitivity analyses, cashflow analysis and balance sheet tests (S&I)
• Engaging with applicants to source additional information to underpin your credit analysis (S&I)
• Supporting the Credit Specialists by producing sensitivity analysis, at the level of the transaction (S)
• Based on your analysis, presenting recommendations to the IUKL Credit Committee alongside the lead Credit Specialist on the outcome of the application, deal structure and conditionality (S&I)
• Oversee credit governance by ensuring accurate minute-taking, maintaining audit-ready customer and applicant files, and upholding the integrity of all credit documentation (S)
• Working alongside the Lending Operations team to move approved transactions through to execution, including quality assurance of legal documentation, satisfaction of conditions and perfection of security documentation (S)

Broader Activities:

• Working with the portfolio team and Relationship Manager to build an effective working relationship with portfolio companies. Regularly undertaking annual reviews, review credit risk exposures, monitor covenants, identify early signs of distress and/or make recommendations on interventions to address any issues. (S&I)
• Pursuing your continuous professional development to the benefit of the loans team and your future opportunities
• Participating in discrete projects in areas beyond your role to the benefit of IUKL and IUK as a whole

This is not an exhaustive list and you might be encouraged to undertake any other duties across the wider directorate, commensurate with the Band and level of responsibility of this post, for which the post holder has the key experience and/or training.

Shortlisting criteria

(S) – Assessed at shortlisting

(I) – Assessed at interview

(S&I) – Assessed at both shortlisting and interview

Person Specification:

Experience & Qualifications:

Essential –

• Qualified to degree level or equivalent relevant experience in working with and understanding businesses
• Financial qualification desirable, though not essential where suitable experience is evidenced
• The candidate may have relevant experience in the field of banking or alternative finance environment and/or a good degree or professional qualification in a relevant discipline.
• Sourcing, reviewing and analysing financial information, in particular in the form of audited financial accounts and management accounts and extracting key strengths and weaknesses from them
• Ability to collect, collate and present data with impact, including both written and verbal reports
• Building relationships and managing expectations both with our customers and colleagues across the business
• An understanding of how businesses work, key financial indicators and assessment of these, preferably within a credit context
• Process management and development, for example in cash management, forecasting and covenant review

Competencies:

All team members demonstrate compatibility with and capability against our Core Competencies such as:

Thinking and Problem Solving – Stakeholder management – Communication skills – Influencing – Self-awareness/self-management – Strategic awareness – Working with others– Project management

Some of the above competencies will be assessed at interview stage, in addition to the criteria’s listed in the person specification.

Travel Requirements:

Field-based: There will a requirement to travel, mostly national, and there is some flexibility in this. Innovate UK staff make extensive use of telepresence tools for meetings to minimise unnecessary travel.

Equality, Diversity and Inclusion:

Innovate UK is a diverse workforce of people. We believe that encouraging these differences and drawing the best from them will build a productive environment in which everyone feels valued, where talents are fully utilised and in which organisational goals are met. Underpinning this is a belief that it is a fundamental right for everyone to be treated equally, with fairness, respect and dignity. We will act directly and use our influence to ensure that this right is promoted and upheld; we encourage applications from all those who meet the criteria set-out in our role profiles.

Equal Opportunities:

We are an equal opportunities employer, committed to employing any person who meets the criteria for our roles. When undertaking recruitment we may require applicants to undertake certain tests or assessments, some of which will be online and others may be in-person. If you have a disability, heath condition or specific learning difficulty such as dyslexia then you may be entitled to support with undertaking this type of assessment exercise. Where you feel that reasonable adjustments are required to support you, we ask that you advise your recruitment point of contact in a timely fashion, providing further information. In confidence, Innovate UK will then review your application for adjustments and provide support as required.

UK Research and Innovation:

Innovate UK is partner organisation within UK Research and Innovation. If successful in securing the position, your employer will be UK Research and Innovation. More information can be found online http://www.ukri.org/

Employee Benefits:

We offer a benefits package crafted to provide an excellent work/life balance. This includes 30 days’ annual leave, 10.5 public and privilege days, flexible working hours, an exceptional defined benefit pension scheme, and access to a variety of support networks and discount schemes.

Benefits of working at UK Research and Innovation (UKRI)

Flexible Working:

We understand the importance of work-life balance, and are happy to discuss the possibility of flexible working with applicants.

Pre-employment Screening:

To enable us to hire the very best people we will conduct a comprehensive pre-employment check on successful applicants as part of the recruitment process.

The role holder will be required to have the appropriate level of security screening/vetting required for the role. UKRI reserves the right to run or re-run security clearance as required during the course of employment.

UKRI supports research in areas that include animal health, agriculture and food security, and bioscience for health which includes research on animals, genetic modification and stem cell research. Whilst you may not have direct involvement in this type of research, you should consider how this aligns with your personal values or beliefs. To enable us to hire the very best people we will conduct a full and comprehensive pre-employment check as a crucial part of the recruitment process on all individuals that are offered a position with UKRI. This will include a security check and an extreme organisations affiliation check.

Applications must be submitted by;

17-07-2026