About the Role
Salary: From £102k pa dependent on experience
Location: Milton Keynes
Hybrid Working: Our current hybrid working policy requires a minimum of 60% of working time to be based in the Milton Keynes office and flexibility is expected to meet the needs of the business and the role.
Hours / Contract Type: Full Time Permanent – 35 hours per week
We are seeking an experienced and strategic leader to join our team as Head of Direct Banking Operations & Outsourcing. This is a pivotal role responsible for overseeing the end‑to‑end operations of our Direct Banking division, ensuring exceptional service delivery, operational efficiency and compliance across all outsourced partnerships and intra‑group service arrangements, while meeting our obligations under Consumer Duty.
Lead a high‑performing team, manage critical third‑party relationships and drive operational excellence to support our customers and business objectives. This role requires a strong blend of leadership, operational expertise and supplier management skills, with a focus on continuous improvement, innovation and a clear accountability for operational resilience.
This role holds Senior Manager Function (SMF24) responsibility under the SMCR and therefore obtaining and maintaining regulatory approval is a mandatory requirement.
What you’ll be doing
* Lead and manage the Direct Banking Operations function, ensuring the delivery of high‑quality, efficient and customer‑focused services.
* Oversee outsourced operations, taking full responsibility for managing third‑party providers and intra‑group service delivery.
* Drive operational excellence through continuous improvement initiatives.
* Ensure compliance with regulatory requirements and internal governance standards.
* Manage operational risk effectively and implement risk management frameworks.
* Build and maintain strong relationships with key stakeholders, including outsourced partners, internal teams and senior leadership.
* Develop and implement strategies to enhance customer experience and operational efficiency.
* Provide leadership and direction to the operations team, creating an environment that promotes accountability, engagement and high performance.
Essential experience & skills
* Extensive experience in managing third‑party and outsourced relationships, including acting as a Material Outsource for a UK Bank or Building Society.
* Experience of overseeing intra‑group service relationships.
* Experience of managing and developing savings operational functions.
* Deep familiarity with the regulatory regime applicable to UK savings operations, including PRA and FCA requirements and the Consumer Duty framework.
* Customer‑centric mindset, with demonstrable knowledge of customer outcomes in all operational decisions.
* Exceptional relationship‑building skills.
* Understanding of and experience managing first‑line risk functions.
* Ability to manage data governance effectively.
* Proven track record in delivering change, both through internal teams and external partners.
* Experience of successfully leading a team, achieving results through people by providing clear direction, motivation, and support.
* Ability to drive performance through effective coaching and mentoring.
What’s in it for you
* Discretionary 25% on‑target bonus (based on personal and Group company performance).
* Employer pension contribution of 9% (based on employee contribution of 3%). VWFS will pay 6% if employee chooses a 2% employee contribution.
* Choice of Employee Car Ownership (ECO) scheme for petrol/diesel and hybrid vehicles plus car insurance and fuel card.
* Company Car scheme for Battery Electric Vehicles (BEVs) plus car insurance cover for you and a partner/eligible family member.
* Private medical insurance, access to our loan car scheme for up to 2 cars for your partner or eligible family members (subject to scheme restrictions) and during our annual benefit window you can purchase critical illness cover and dental cover.
* Income protection, life assurance (4x salary), retail discount vouchers, access to Care Concierge, and other salary sacrifice options including a will writing service and cycle to work (subject to scheme restrictions).
* LinkedIn Learning via our Degreed platform and a host of professional development programmes.
* Mentoring schemes and reciprocal partnerships recognising that we can all learn from each other.
About Us
Why join VWFS UK?
You’ll have the opportunity to make a difference by helping us to achieve our mission.
Our mission is straight forward; we want to be 'The Key to Mobility'. That means we make getting from A‑to‑B as easy and simple for as many people as possible. To truly meet the mobility needs of people in a changing world, our offering goes beyond traditional vehicle financing. We do this by providing a range of finance and aftersales products on Volkswagen Group vehicles, as well as developing innovative mobility products designed to solve real problems and support our customers.
No candidate will meet every single desired qualification. If your experience looks a little different from what we've identified and you think you can bring value to the role, we'd love to learn more about you!
VWFS is proud to be an inclusive employer and encourages applications from a diverse range of candidates. Diversity, Equity & Inclusion isn’t just a statement for us, we encourage and aspire for all our colleagues to be their 100% self. If you need any reasonable adjustments to assist you with the application and/or recruitment processes, please contact our Resourcing Team.
The Head of Direct Banking Operations & Outsourcing role is a ‘Certified’ / Senior Manager role under the SMCR and the role holder is required to comply with the FCA’s Conduct Rules. A mandatory requirement of the SMCR is for VWFS to certify that the role holder is fit and proper to perform the duties on an ongoing basis.
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