Insurance Expert presso Oaknorth.ai

The Insurance Expert is responsible for providing comprehensive insurance guidance, analysis, and strategic support to OakNorth and its borrowers. This role encompasses setting and maintaining insurance policies across all lending products, performing risk assessments, analysing policies, and ensuring full regulatory compliance. The Insurance Expert will act as OakNorth’s central authority on insurance, delivering tailored solutions that minimise risk, maximise coverage, and align with both commercial objectives and compliance requirements.  Key Responsibilities 1. Policy Setting and Governance Set and oversee OakNorth’s insurance requirements across all lending products, including: Real Estate Investment Real Estate Development Trading businesses (e.g., hotels, care homes, and other corporates) Loan-on-loan facilities Develop, update, and maintain OakNorth’s internal insurance templates, policies, and review checklists for sign-off. Own all insurance products required or procured by the bank, ensuring adequate and appropriate coverage at all times.  2. Insurance Consultation and Advisory Provide expert advice and consultation to OakNorth and its borrowers on all insurance matters. Assess borrowers’ insurance needs to recommend suitable and cost-effective policies. Advise the Credit team on ongoing market positions, standard coverage expectations, and acceptable risk levels. Offer guidance on insurance terms, coverage limits, exclusions, and conditions across various lending structures.  3. Policy Review and Analysis Review and analyse insurance policies to ensure they align with OakNorth’s credit requirements and risk appetite. Identify coverage gaps or deficiencies and recommend policy amendments or additional protections. Evaluate complex insurance positions in live transactions, providing actionable advice to internal stakeholders.  4. Risk Assessment and Mitigation Conduct thorough risk assessments to identify potential exposures faced by OakNorth and its borrowers. Develop and recommend risk mitigation strategies through appropriate insurance solutions. Support the workouts and recoveries team by assessing insurance positions and claims on deals in distress or restructuring.  5. Compliance and Regulation Stay fully up to date with UK insurance industry regulations, market practices, and compliance requirements. Ensure that all insurance policies and internal practices adhere to applicable laws and regulatory frameworks. Maintain awareness of regulatory changes to proactively adjust OakNorth’s insurance policies and frameworks.  6. Market Engagement and Relationship Management Build and maintain a strong network of brokers, insurers, and underwriters to ensure access to competitive and high-quality insurance products. Manage relationships to secure advantageous terms and enhance OakNorth’s position in the market. Collaborate effectively with internal teams — including Credit, Legal, and Risk — to ensure smooth communication and alignment on insurance requirements.  7. Claims Management Support OakNorth and its borrowers throughout the claims process, providing technical guidance and coordination with insurers or adjusters. Facilitate efficient and timely claims resolution to protect OakNorth’s interests and maintain borrower relationships.  8. Market Research and Horizon Scanning Monitor emerging trends, new insurance products, and shifts in the UK insurance market. Conduct research and analysis to identify competitive offerings, pricing movements, and innovative coverage options. Anticipate market developments to ensure OakNorth remains ahead of the curve in managing insurance-related risks.  9. Documentation and Reporting Maintain accurate and up-to-date records of all insurance policies, communications, risk assessments, and recommendations. Prepare comprehensive reports and summaries for internal stakeholders, including Credit, Legal, and Executive teams.  

Key Skills and Experience:

Technical Expertise: Strong legal and technical knowledge of insurance documentation and requirements across banking and finance transactions. 

Financial and Transactional Insight: Experience advising on insurance in a broad range of financial products and structures. 

Attention to Detail: Exceptional precision in reviewing documentation and assessing commercial implications. 

Commercial Acumen: Strong understanding of insurance risk levels for both OakNorth and its clients, with the ability to advise Credit on acceptable exposure. 

Stakeholder Management: Ability to build trust and add value across internal teams, borrowers, brokers, and insurers. 

Communication and Collaboration: Excellent written and verbal communication skills, with the ability to convey complex insurance concepts clearly. 

Calm Under Pressure: Demonstrated ability to work effectively in fast-paced or high-pressure environments. 

Continuous Learning: Commitment to staying informed about evolving insurance regulations, products, and market trends. 

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