Associate Director - Investment Risk

The Scottish National Investment Bank is seeking an experienced Associate Director - Investment Risk to play a critical role in providing independent, high-quality risk oversight across the Bank’s investment activities.

This is a senior opportunity within the Governance, Legal, Risk & Compliance (GLRC) function, operating as part of the Bank’s Second Line of Defence. You will work closely with colleagues across Investments, Portfolio Management and the wider Bank to support robust, well-informed investment decision-making that delivers lasting environmental, societal and economic impact for Scotland.

We welcome applications from candidates who believe they can excel in this role, even if you do not meet every single requirement. We value diverse experiences and perspectives and encourage applications from all backgrounds.

As an Associate Director in the Investment Risk team, you will provide independent and objective risk assessment and oversight of both new and existing investments. You will contribute directly to the quality of investment decisions through insightful risk analysis, modelling and reporting, while supporting effective ongoing portfolio risk monitoring.

You will act as a trusted risk partner to senior stakeholders, bringing strong technical expertise, sound judgement and the ability to clearly articulate complex risk issues in a pragmatic and constructive way.

• Deliver independent risk assessments of potential and existing investments, ensuring risks are clearly identified, assessed and appropriately mitigated.
• Provide ongoing risk oversight and monitoring of the Bank’s investment portfolio.
• Develop, implement and maintain investment risk data, modelling and reporting processes.
• Produce high-quality risk insights and analysis to inform investment and portfolio management decision-making.
• Lead and contribute to thematic risk reviews and provide subject matter expertise in investment risk modelling.
• Support the continuous enhancement of investment risk policies, frameworks and processes.
• Deputise for senior members of the Investment Risk team when required.

• Significant experience in investment risk or credit risk within a regulated financial services environment.
• Proven experience across private equity, venture capital, private debt, project finance or commercial lending, ideally spanning multiple industry sectors.
• Expertise in modelling and assessing investment risks across equity, debt and fund investments, at both investment and portfolio level.
• Experience in corporate credit analysis, equity and debt structuring, and distressed investment recovery (highly desirable).
• Excellent analytical, problem-solving and communication skills, with the ability to convey complex risk insights clearly to senior stakeholders.
• A good understanding of UK financial regulation, with an appreciation of operating at the public–private sector interface (desirable).
• Professional qualifications such as FRM, CFA or equivalent (highly desirable).

At the Scottish National Investment Bank, we offer a supportive culture that values your expertise and autonomy, encourages continuous learning, and provides opportunities for meaningful work. The salary range is £84-98k, depending on experience, with additional benefits including 30 days annual leave plus public holidays, a 12% non-contributory pension, volunteer days, and more. We operate a hybrid working model and are open to discussing flexible working patterns.

If you are eligible under the Disability Confident Scheme or need any adjustments to support your application, please reach out to us. We are committed to providing the support needed for you to participate