Assistant Director - Fund Management

Assistant Director - Fund Management

Homes England - National Housing Bank (NHB)
£85,862 - £114,417 | Permanent | Hybrid (50/50)
Location: Hybrid (Birmingham, Leeds, London, Manchester)

Homes England is launching the National Housing Bank, a new government-backed investment platform to accelerate housing delivery across England.

The National Housing Bank is a new government-backed financial institution within Homes England. With £16bn in capital, it will unlock private investment, support regeneration and accelerate housing delivery across the UK. Joining now offers a rare opportunity to shape a major new national investment platform from the ground up.

As Assistant Director - Fund Management, you will play a central leadership role in how the Bank governs, allocates and optimises its capital, ensuring billions of pounds are deployed strategically, efficiently and with maximum impact.

The opportunity

Responsibilities include:

* Lead the design and implementation of NHB's capital governance, allocation methodology and portfolio optimisation.
* Oversee Virtual Economic Capital usage, limits, monitoring and reporting to Executive and Board.
* Drive portfolio‑wide analysis, including stress testing, scenario modelling and forward‑looking capital planning.
* Produce high‑quality, decision‑focused reporting that informs strategy, risk appetite and capital deployment.
* Build scalable fund‑management operating frameworks, controls and processes.
* Provide senior leadership to the growing team, including future line management of the Head of Fund Management.
* Collaborate closely with Loans, Equity, Guarantees, Finance, Risk (incl. Quant Modelling), Operations and Regional teams.
* Represent Fund Management in cross‑NHB governance forums and champion continuous improvement.

This is a rare chance to build a critical function from scratch within a national institution.

Candidate profile

You bring:

* Significant senior experience in fund management, banking, investment or treasury functions.
* Strong understanding of capital frameworks (Basel III/CRR), stress testing and capital forecasting.
* Advanced financial modelling and portfolio reporting capability.
* Proven ability to design, implement and optimise investment‑management processes and controls.
* Strong leadership and experience developing senior specialists and high-performing teams.
* Excellent communication, influencing and negotiation skills, including engagement at Executive and Board level.
* A strategic mindset with the ability to build structure and clarity in a fast‑moving, ambiguous environment.

Desirable backgrounds include: regulated investment environments, portfolio risk, capital management, structured finance, or public‑sector financial institutions.

Why join?

* Shape a national institution at a defining moment in its creation and growth.
* High-impact work - directly influence how billions in government capital are deployed.
* Competitive salary & benefits - including 33 days' annual leave, hybrid working and wellbeing support.
* Career growth - lead a critical function in a collaborative, mission-driven organisation.

This is a unique opportunity to shape the future of housing investment and deliver long-term impact for communities across England.

Contact point for applicants

Name : Ciara Lynn

Email :

Recruitment team

Email :

Closing date: 15th April 2026

Right to Work in the UK is required.