Shape the Future with the National Wealth Fund

At the National Wealth Fund, our mission is to swiftly and effectively mobilise trusted sector insights and investment expertise to unlock billions in private finance for projects across the United Kingdom. Providing £27.8bn of capital and an expanded mandate, we are ready to help the market invest with confidence, continue to drive forward the Government's growth ambitions.

We are looking for skilled and results oriented individuals who are motivated to help us build the National Wealth Fund into an industry-leading institution.

Job Purpose

The National Wealth Fund has a strategic mission to support net zero transition and drive local and regional economic growth. It’s £28bn capital is deployed through its Investment and Advisory (I&A) team, which includes sector-focused private investment and Local Authority (LA) functions.

The LA function supports local government to successfully implement technically complex, innovative and essential infrastructure financing with an ambitious aim to accelerate and improve how public infrastructure is delivered. Within the LA function, Directors work seamlessly across advisory and lending, which has £4bn of lending capacity, including close working with the private investment sector teams in the wider I&A team to deliver commercial opportunities through our Strategic Partnerships (SPs) with Mayoral Strategic Authorities (MSAs), City Regions and other local authorities undertaking Regionally Significant Projects (RSPs). Specific sector areas of focus for local authorities are building decarbonisation and heat networks (net zero), transport and place-based infrastructure & regeneration.

Location: Hybrid working with a minimum of 3 days per week in the Leeds office

Deadline to Apply: 7th July 2026. Early submission is encouraged, and applications will be reviewed on an ongoing basis.

The Director – Local Authority Lending role is a senior, client-facing, leadership position, and the role holder will bring together excellent origination and business development skills, delivery knowledge and financing excellence to enable local government to enter into successful commercial and financial arrangements with delivery partners and which are affordable to our client. He or she will proactively build relationships across the sector to identify lending opportunities and take a lead role in originating new lending opportunities for the Fund and taking those transactions through the NWF investment processes.

Working alongside the Lead Director to deliver NWF’s challenging LA lending targets of c£750m pa, the Director for Lending will take the lead on a portfolio of Local Authority debt transactions. He or she will help build and shape the debt products to evolving transaction structures in the local government sphere, influencing their development within the NWF and with the sponsor department. He or she will also assist in managing relationships with key operational and governance functions of the NWF.

Core Responsibilities:

• Work with the Lead Director to develop the annual-rolling Business Plan for lending and originate transactions for NWF, through an in-depth knowledge of local government infrastructure investment priorities and pipeline.
• Build relationships across the Local Authority executive community. Proactively network and engage with both internal and external senior stakeholders, to include investors, developers, advisers, banks and leading industry experts to create future commercial opportunities to enhance NWF’s reputation in the market.
• Represent the Fund - Cement the Fund’s reputation as a centre of excellence in local authority infrastructure financing. Act as an ambassador for NWF by participating at industry events and conferences, using these opportunities to influence the broader infrastructure agenda, and successfully showcase NWF’s mission and purpose.
• Support the Lead Director in shaping the LA lending business within NWF, helping to attract and retain high performing talent and expertise within infrastructure finance and delivery, and establish the NWF as market-leading in the provision of trusted, expert structuring advice on delivering infrastructure finance.
• Lead on a portfolio of LA lending transactions, structuring each deal for optimal financial metrics and affordability to NWF’s LA clients, overseeing technical and legal due diligence on complex and higher risk projects, and managing the LA deal team and working with other NWF teams including Risk, Impact, Legal and Portfolio Management through the NWF investment process.
• Provide structuring advice on projects as part of the LA function’s Strategic Partnerships or Significant Regional Projects advisory engagements.
• Post deal-close, assist NWF risk and portfolio management functions to ensure that the Local Authority loan book is managed in line with the Fund’s high standards and meets our oversight and accountability to our shareholder and the public.
• Manage members of the team in accordance with the NWF’s corporate values to deliver a high-quality lending service with an emphasis on the growth and development of junior team members.
• Interface in an open, constructive, and collaborative manner with senior colleagues across the NWF to share expert knowledge and experience, draft sector strategies and to fulfil our strategic mission.

Knowledge, Skills & Experience

• Significant experience in leading engagements and financing large-scale public sector infrastructure projects.
• Experience of managing a lending-team, including developing a business plan, origination, and overseeing a portfolio of transactions, and developing team members.
• Extensive experience of working in the local authority infrastructure financing market, with a good understanding of the funding challenges and constraints facing local authorities, familiarity with government finance (e.g. grant programmes and support mechanisms) and knowledge of institutional/commercial investor requirements.
• Substantial experience of managing formal lending processes; including negotiation, due diligence and review of project contractual documentation, including assessment of technical and commercial project risks, and liaison with a bank or fund’s internal functions such as risk, compliance, and legal as part of the deal shaping and approvals.
• Knowledge of NWF’s strategic sectors including net zero technologies, transport and regeneration investment characteristics is also desirable.
• Must be commercially astute and able to fashion solutions tailored towards the specific needs of complex public sector infrastructure delivery.
• Be a skilled communicator, comfortable operating at a senior level across all stakeholder groups and passionate about contributing to the positive culture of the organisation.
• Be able to act as an advocate for NWF and the support and financing it can provide through speaking engagements and contributions at conferences and events.

A career with us offers a unique opportunity to make a lasting impact and work on cutting-edge technologies that will drive the UK’s future. We value diversity in our people and inclusion is at the heart of what we do.

We offer competitive benefits and unique learning opportunities from combining both private and public sector skills and experience. Please note, referencing and background checks are carried out for all roles here at the National Wealth Fund.