Director, Credit - Trading Businesses en Oaknorth.ai

At OakNorth, our Credit Risk team is at the heart of what we do – empowering ambitious businesses to grow while protecting the strength of our portfolio. As a Credit Director, you’ll play a pivotal role in driving that mission forward.You’ll critically assess and challenge new lending opportunities across a diverse range of SME and trading businesses, crafting high-impact, insightful recommendations to our Credit Committees. Your analysis and judgement will directly influence key decisions, ensuring we deliver the right outcomes for our customers while staying true to OakNorth’s credit appetite.This is a highly visible role – you’ll be centrally involved with Credit Committees, engage directly with borrowers to understand their funding ambitions, and help shape decisions that fuel real economic impact. If you thrive on intellectual challenge, commercial thinking, and meaningful responsibility, this is your opportunity to make a tangible difference at one of the UK’s most innovative banks.

Key Responsibilities:

Key involvement in shaping loan proposals through sighting new lending opportunities with deal teams at an early stage

Work with and professionally challenge our Debt Finance Origination team and Credit Analytics team to achieve high quality Credit papers and deliver high-quality Credit recommendations to Credit      Committee(s) including suggestions to improve the deal structure to      facilitate positive outcomes for our customers while remaining within the Banks Credit appetite 

Strong ability to quickly grasp the transaction and focus on the key risks, presenting findings in a concise yet focused manner.   

Collate and distribute the committee decision to new loan requests in a concise yet clear fashion and be responsible for any follow up actions

Review and input on terms sheets balancing the relative risks of the deal with customer outcomes

Support the internal Legal/Loan Execution team in the loan completion process through close scrutiny over the bank’s security requirements, documentation and ensuring bank has complied with all controls, as agreed at Credit Committee  

From time to time, meet clients with our Debt Finance team, providing guidance on structuring and early steer on credit appetite

Support Portfolio Management team post facility drawdown with any in life loan increases or extensions, restructure or covenants resetting

Review all key information in supporting the credit decision and be instrumental in ensuring deal teams satisfy conditions precedent. This may include Financial Due Diligence, overview of financial accounts and understanding of covenant models. Ability to explain and deliver rationale behind setting thresholds and definitions.

Ensure that the data used by the firm to assess its  risks is fit for purpose in terms of quality, quantity, and breadth

Undertake any strategic projects as necessary, as requested by the Head of Credit Risk

What we are looking for:

A working knowledge and experience of SME cash flow based lending and financial analysis. A detailed understanding of certain key sectors is preferred e.g. collateralised lending in Healthcare, Hospitality and Leisure and typically non-collateralised sectors such as Financial intermediaries, Manufacturing; Assets classes such as Structured/Leveraged Finance including M&A activity, Financial sponsors, MBO/MBI. A strong grasp of working capital mechanics is also required. Ideally (but not essential) knowledge of Real Estate lending, primarily residential property development but also investment and commercial property too

Ideally a minimum 5 years in a credit risk function or be able to demonstrate transferable skills.

A good knowledge of credit risk models associated with the analysis of SME clients, such as RWA, PD, LGD

A focus on achieving beneficial outcomes for the Bank and our customers. Tenacity yet pragmatic and strong willingness to strive for quality

Understanding of wider risks associated with full SME product lifecycle, including origination, optimisation, collections, and recoveries

Strong experience of risk and control techniques, including covenant setting, as applied to SME credit processes, including both the theory and application in practice

Strong negotiation skills and ability to deal with challenge in a professional manner

Ability to relate well to customers and colleagues

Ability to handle multiple deliverables in a fast-paced, high-volume environment

Effective time management is key

Benefits and Perks:

Equity. We want people to have a stake in the business so that all our interests are aligned.

25 days holiday

Personalized benefits – opt-in to what matters to you

Subsidised Private Medical Insurance with Bupa

Enhanced maternity and paternity leave

Wellbeing and social events

In-house Barista Bar in London office

Support causes that matter to you – Volunteering time off

Salary sacrifice schemes (Cycle to work, nursery, gym, electric car scheme)

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