Director of Credit Risk, OVO
Customer Receipts and Vulnerability
More information about location
Powering human progress with clean affordable energy for everyone
Be an early applicant
Powering human progress with clean affordable energy for everyone
1001+ employees
Be an early applicant
More information about location
1001+ employees
Company mission
We're on a mission to lower carbon emissions to zero by 2035, helping our customers reduce theirs at the same time - we call this Plan Zero.
Role
Who you are
- Enterprise mindset- Operate with a Company & Customer first mindset, even when it challenges functional priorities
- Industry Experience: In depth experience in the Energy Industry and in delivering transformational change
- Strategic Thinking: Capability to develop and implement strategies for consolidating resources, reducing costs, and improving overall efficiency, in alignment with company goals
- Collaboration: Strong interpersonal skills to work effectively with across all business areas
- Problem-Solving Abilities: Able to identify issues, propose solutions, and implement changes to improve performance and cost-effectiveness
- Communication Skills: Clear and effective communication to present insights, recommendations, and strategies to various stakeholders
- Attention to Detail: Keen eye for detail to ensure accurate tracking of performance activity and budget management
- Adaptability: Flexibility to adjust strategies and approaches based on changing organisational needs
What the job involves
- Team: Customer Ops & Balances
- Experience: Expert
- Working pattern: Full-Time
- Reporting to: VP of Customer Ops & Balances
- At OVO, we understand that a one size fits all approach doesn’t work for everyone. That’s why we created the OVO Way of Flexibility
- All our roles are hub based (Bristol, Glasgow or London), providing a dedicated space for collaboration, connection and teamwork. You’ll also have the flexibility to work from home
- The Director of Credit Risk, Customer Receipts and Vulnerability will lead a team of technical and operational specialists, and work closely with OVO’s senior Retail leaders to ensure the timely collection of revenue (circa. £5.5bn 2024) through effective and efficient cash and revenue strategies, reducing the annual bad debt charge from 2.4% to circa 1% of revenue
- Supporting our customers is at the heart of everything we do and as we know energy can be expensive, so you will also be behind delivering industry leading support for our vulnerable customers to help them break the debt cycle
- You'll be leading the Credit Risk and Collections team, making sure OVO gets paid on time while also making sure those customers that need support have the right options to support them when they really need it!
- As Director of Credit Risk & Customer Receipts, Collections, you will be:
- Leading a multi-functional area, with over circa 200 people onshore and an extended team of approx 140 offshore
- Influencing strategy at an enterprise wide level - the role will require a wide range of financial, technical and operational expertise, leading multi functional teams and working with our technology teams to deliver the capabilities our customers need
- Defining the strategic direction for Credit Risk, Vulnerability & Collections in line with company goals, translating high level strategy into actionable plans and priorities
- Leading the team who is accountable for effective revenue collection which includes cash, debt collection, and ultimately bad debt write off. The team is required to execute strategies and effective operational performance resulting in an industry leading bad debt charge of circa 1%
- Leading a team of Operations leads (including outsourced and offshore ops), data-driven strategy development and adherence, quality and performance adherence, credit risk and fraud specialists , credit management and collections specialists, third party contract management specialists
- Making sure OVO's cash flow is healthy - accountable for the cash flow strategy, credit risk strategy, and collections strategy, which spans all areas of the Retail operation e.g. policy decisions regarding cash management at portfolio level, customer acquisition strategy and ‘in life’ customer management to ensure timely and efficient revenue collection
- You will be part of the COO leadership team and work closely with other functional leaders in the operation team, bringing energy, collaboration and great ideas to drive the function
- Attract, retain, develop and engage top talent to build future leadership capability
- Shape and lead change, driving value creation via POD and Scale teams, leading continuous improvement and efficiency initiatives as well as large scale transformation
- Anticipating market and Industry trends to ensure strategic, forward looking positioning of department and wider COB function
- Accountable for risk mitigation plans and wider regulatory oversight for Credit Risk & Collections areas, including internal and external audit and regulatory relationships
- Working closely with the Regulation and Compliance Teams to ensure all relevant risks are identified, shared and tracked
Our take
On average, home energy represents 26% of our carbon footprint. Ovo Energy wants to bring this to zero by providing cheaper, greener and simpler energy to customers. They are analysing meter data to deliver easy, personalised actions, turning electric vehicles into power stations with clever chargers, and building energy-efficient heaters. For households, their offering is organised into four different energy plans. that include interest rewards on energy credit balance.
In 2020, OVO completed the acquisition of SSE Energy Services' retail arm for £500 million, meaning that the challenger brand now has around 4 million customers in the UK.
While helping Ovo members halve their carbon footprints, the company is also working towards becoming a net zero carbon business by 2035. The challenges ahead for the company include encouraging consumer behaviour change, shifting towards subscription models for home energy use.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Employee endorsements
Inspiring mission
"The mission to provide Green energy to all customers, and to enable all our customers to start on a journey towards zero carbon living is written in..."
Funding (last 2 of 3 rounds)
Jul 2023
$271.4m
GROWTH EQUITY VC
Feb 2019
$271.4m
GROWTH EQUITY VC
Total funding: $584.9m
Company benefits
- Annual Discretionary Bonus
- 9% Flex Pay - extra on top of your core pay to use as you like. You can take it as cash, use as your pension contribution, or choose to spend it on a huge range of flex benefits (tech schemes, EV leasing and more!).
- Flexible / Remote Working
- Personal Development Allowances and Free Access to OVOLearn - our very own training platform
- 34 Days Holiday (including bank holidays)
- Health Insurance
- £400 OVO Energy Discount
Company values
- Find a better way - We always look for a better way, whether that’s by delivering a better service, employing brilliant people or improving our products and processes
- Do what's right - Being open, honest and fair is one of the values which applies to everything we do. We take pride in talking to our customers and delivering exceptional work
- Build something great - Simple solutions aren’t quick or easy to find. They take time and tenacity. Our people work to find an answer that helps us ‘build something great’
Leadership
David Buttress
(CEO)CEO of OVO, the UK’s 3rd largest energy supplier. Joined in May 2024.
Diversity, Equity & Inclusion at OVO
Alessandro Storer (Head of Inclusion & Belonging )
- We run inclusive training and unconscious bias workshops for employees and interviewers
- We provide mental health support, through different networks, having mental health first aiders within the business and running initiatives like our "wellbeing Wednesdays" to promote this.
- We have dedicated Early Years programmes with a focus on underrepresented groups, offering different training opportunities within the business.
- We invest in tools, like Textio, and focused I&D job boards to help us reduce bias in our job postings and recruitment activity.
- Commitment in improving diversity across our Tech Teams and working with companies to improve the tech ecosystem as a whole, specifically have committed to 25% Women in Tech at OVO by 2025
- We've signed up to numerous charters, like the Tech Talent Charter, Race at Work Charter and Trans in the City, to show our continuing commitment to improving I&D within OVO and the wider community
- Within OVO we have multiple belonging networks and communities set up, to offer support and forums for everybody
- Read more about our commitments to improving Diversity & Inclusion at OVO in our linked belonging report
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