Export Credits Guarantee Department
ECGD is located in Exchange Tower, Canary Wharf.
A department and a business
ECGD's mission is to benefit the UK economy by helping exporters of UK goods and services to win business, by providing financial guarantees and insurance for export contracts. It issues around £2.3 billion of guarantees every year, insuring UK banks and exporters against the risk of non-payment and enabling them to offer finance at fixed interest rates; overall we have around £12 billion of risk to manage. Uniquely ECGD operates within a commercial insurance and banking framework, but is subject to public sector goals and accountabilities.
Operational research in ECGD
The OR unit plays a crucial part in helping ECGD deliver the mission. The Operational Research Strategy and Change Division reports directly to the Chief Executive - a reflection of the value placed on OR by the organisation and the influence of OR analysis on decision making. OR staff work closely with managers and colleagues across the Department, and have built a reputation for providing high-quality, reliable and relevant analysis and advice. ECGD is currently undergoing enormous change as its cuts costs and implements leading-edge risk management techniques, and the OR programme of work reflects this.
Examples of OR work include:
- Using understanding of soft and hard complexity, together with mathematical, statistical and modelling skills, to develop new strategies and systems for managing a whole variety of financial and portfolio risks, for example: getting to grips with financial markets and financial engineering and helping develop ECGD's strategy for entering these markets; using Monte Carlo simulation to analyse the range of possible loss outcomes; or advising on exposure control systems.
- Using general research and consultancy skills, together with modelling expertise, to develop a long-term business model of ECGD and help ECGD's management to explore strategic alternatives.
- Using research, consultancy and analytical expertise to identify alternative performance indicators and understand how they will behave.
What to expect
We normally work interactively with colleagues, helping not just with providing quantitative analysis but also with problem-structuring, identifying and questioning assumptions, and setting objectives. Newcomers to the Department don't need a financial background, as training is provided; but an interest in finance and business, and in working with the people who provide ECGD's service, is essential.
The OR unit is a friendly and supportive group of 20 staff, based at ECGD's Head Office, in a modern building in London Docklands with splendid views over London and good staff facilities.
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