Commercial Director - Transport

End Date

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Flexible Working Options

Hybrid Working, Job Share

Job Description

KEY ACCOUNTABILITIES

• Responsible for Transport FY30 strategic plan, setting an ambitious growth agenda and is pivotal in ensuring delivery of its core commercial Profit & Loss (P&L) targets across the business including income, Operational Loss Depreciation (OLDP), impairment, Costs and FTE metrics.  Ensure implementation of the north star target operating model to deliver the productivity gains to delivery group targets on Return on Tangible Equity (RoTE) and Cost / Income Ration (CIR).
• Leads on the definition, development, and overall performance of the Transport Ecosystem.  Leading the building & deploying of core capabilities, channels, and customer propositions to help unlock the strategy requiring strong collaboration across Transport, Consumer Lending and Consumer Relationships.  Key propositions on Light Commercial Vehicles (LCV), Service / Maintenance / Repair (SMR), Marketplace, Energy, Insurance, and Remarketing.
• Setting the trading volumes and pricing for the consumer and corporate businesses, balancing actions to achieve growth and returns in adherence to Board level risk appetite.
• Full lifecycle management of assets on the balance sheet, including the business-critical activity of setting Residual Values for new and used vehicles.  This covers the setting of Residual Values (RVs) on a quarterly basis and a full revaluation of the balance sheet every six months with the appropriate management controls and monitoring in place.  Stakeholder management on OLDP is critical to overall confidence in the business.  
• RV mitigation is key to the risk appetite of the business, the Commercial Director is accountable for implementing securitisations, insurance and risk sharing arrangements with Original Equipment Manufacturers (OEMs) to protect the business from market volatility were possible.
• Accountable for vehicle purchase and remarketing strategy across Transport. Ensure product life cycle management is in place with all manufacturer partners to support price stability and manage RV risk.  Implementing a more diverse and sophisticated set of remarketing capabilities to improve profitability through used leasing or disposal pathways direct to consumer, dealer, and OEM to minimise wholesale auctions.  Needs to work closely with Platform and Consumer Lending (CL) Data teams to build agentic AI capabilities to automate and scale remarketing solutions.
• Responsible for the leadership of the sustainability proposition. This is an integral part of the Group due to the critical role it plays in supporting Lloyds Banking Group’s journey to Net Zero and the Strategic Growth agenda. Stakeholder engagement extends to political leads with the support of Group Corporate Affairs, alongside UK think tanks and Industry experts.
• Lead on inorganic transaction activity mergers and acquisitions (M&A) and support Consumer & Corporate Managing Director (MD) with identifying and winning new OEM partnerships.
• Ensure compliance with the Group’s policies, procedures, and guidelines together with all relevant regulatory and statutory requirements, where appropriate implementing actions to always protect the Group’s business.
• This role is a Material Risk Taker (MRT) under the Senior Manager Certification Regime (SMCR) rules, as it will deputise for the MD of Transport. This includes:
  • Deputising in the Leadership role across the regulated Transport legal entities.
  • Supports the accountability for managing all areas within their business areas. This includes strategy, governance, financial performance, people performance, culture, day-to-day execution and the delivery of ‘run and change’ for technology and data. 
• The Commercial Director also holds the Executive Director function (“SMF3”) for the regulated entities; they act in the capacity of a director (other than a non-executive director) of the firm and is responsible for deputising the following: 
  • Providing effective oversight and challenge and helping to develop proposals within the Group strategy.
  • Promoting a customer-centric culture that is focused on providing excellent products, propositions, and services, whilst overseeing management’s operation within the agreed Board-approved Risk Appetite.
  • Satisfying yourself on the integrity of financial information, and that financial controls and systems of risk management are robust and defensible.
  • Being sufficiently and appropriately informed prior to taking part in discussions and decisions. 

KEY CAPABILITIES, KNOWLEDGE, SKILLS, AND EXPERIENCE

• Deep commercial understanding gained at an executive level in a complex environment.
• Ideally, a knowledge of the Motor Finance / Leasing sector would be desirable in this role.  This would include the Contract Hire industry, contract hire and motor finance business profitability, cash flow and returns, regulatory changes and pertinent economic and political factors which may impact on the group’s business and overall aims.
• Compliance with the regulatory system: high standards of conduct and behaviour, especially with regards to the interests of customers; a proven record of delivery on compliance issues; understanding and adherence to colleague fitness and propriety requirements; understanding of the importance of documentary evidence for key decisions. Responsible delegation of responsibility; understanding of corporate governance.
• Previous experience of working within a regulated environment – including FCA, PRA interaction and relationship. Ability to represent Transport LBG in the external environment including Regulators, Media, Trade Bodies, Government, external Partners and Industry experts.
• Openness and cooperation: strong sense of professional ethics and service to the Group and society; willingness to cooperate openly with all stakeholders, including peers, customers, and regulators; ability to communicate succinctly and effectively.
• Proven large scale colleague leadership ability across multi-site teams; including ability to influence colleagues and teams across the Group which are not within direct reporting line.
• Makes sound decisions; balances short term needs and long-term goals, takes account of the stakeholder agenda but knows the right thing to do, sets clear overall direction with simplicity, and manages ambiguity.
• Strong track record of building internal and external relationships and gaining trust at the most senior levels of leadership.
• Passionate about making a difference; relentlessly overcomes obstacles, has drive and determination to succeed, raises the bar and pushes for innovation, profound confidence in own abilities, emotionally resilient and energetic.
• Gains commitment: Knows self deeply and creates a complementary team, understands impact on others, and influences well, generates understanding and commitment from others, builds trusting and collaborative relationships through honest and open dialogue, and makes time to coach and develop others.
• Turns strategy into results; builds talent and capability, turns strategy into plans, and delivers, objectively measures, and manages performance and always delivers on promises.
• Uses a wide range of analytical tools and techniques, supported by comprehensive business experiences, to formulate and define business plans and strategies.
• Has a comprehensive understanding of the Group’s overall aims, structure policies, and culture together with a detailed knowledge of the policies, operations, systems, and key strategies in own business unit.
• A sound appreciation of the appropriate legal and technical procedural factors pertaining to contract hire and how these may impact on the business/customer relationships.

We know that great talent comes from many backgrounds. Whilst this job advert may reference specific years of experience, we recognise that skills are developed in many ways, so if you have relevant, transferable experience, we encourage you to apply.

This is a place for you:

• Our ambition is to be the leading UK business for diversity, equity and inclusion supporting our customers, colleagues and communities, and we're committed to creating an environment in which everyone can thrive, learn and develop.
• We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer Initiative.
• We offer reasonable workplace adjustments for colleagues with disabilities, including flexibility in office attendance, location and working patterns. And, as a Disability Confident Leader, we guarantee interviews for a fair and proportionate number of applicants who meet the minimum criteria for the role with a disability, long-term health or neurodivergent condition through the Disability Confident Scheme.
• We provide reasonable adjustments throughout the recruitment process to reduce or remove barriers. Just let us know what you need.

We also offer a wide-ranging benefits package, which includes:

• A generous pension contribution of up to 15%.
• An annual performance-related bonus.
• Share schemes including free shares.
• Benefits you can adapt to your lifestyle, such as:
  • Discounted shopping.
  • 30 days' holiday, with bank holidays on top.
  • A range of wellbeing initiatives and generous parental.
  • Leave policies.

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.

We keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks.  We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person. 

We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.