Commercial Director - Transport

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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…