About the job
At OakNorth, we are dedicated to empowering the most ambitious businesses across the UK. Since our inception in 2015, we have lent over $21 billion across the UK and US, facilitating the creation of more than 58,000 homes and 36,000 jobs, while supporting hundreds of thousands of personal savers , all contributing to the growth of the UK economy.
Team Mission
The Credit Risk team plays a critical role in ensuring OakNorth makes informed lending decisions. As the Director of Credit Risk, you will lead the credit recommendation process for new business proposals involving a diverse array of SMEs and trading entities. This pivotal role demands high judgment and visibility, significantly influencing the quality of OakNorth's lending portfolio and the outcomes we achieve for our clients.
Key Responsibilities
- Oversee the complete credit recommendation process for new business proposals: assess key risks thoroughly, draft clear written recommendations, and present findings to the Credit Committee in a concise and organized manner.
- Collaborate with Debt Finance Origination and Credit Analytics teams to enhance the quality of documentation and deal structures, ensuring that recommendations reflect sound credit judgment and favorable customer outcomes within the bank's risk appetite.
- Participate in Credit Committee meetings, engage directly with borrowers regarding their funding requirements, and ensure that Committee members are equipped with the information needed for informed decision-making.
- Effectively communicate Credit Committee decisions and manage all follow-up actions to resolution.
- Work closely with Legal and Loan Execution teams throughout the completion process, ensuring that all documentation, security requirements, and conditions precedent align with approved terms.
- Engage in client meetings alongside the Debt Finance team to provide early insights on appetite and deal structuring.
- Assist Portfolio Management with ongoing activities, including annual reviews, increases, extensions, restructures, and covenant resets.
- Review due diligence materials, financial accounts, and covenant models; clearly articulate the reasoning behind threshold-setting and definitions.
- Maintain data quality standards to ensure that the firm’s risk assessments are based on reliable and adequate information.
Success Metrics after 12 Months
- The credit papers you sponsor consistently exemplify high quality, requiring minimal revisions and are well-received by the Committee.
- Your challenges to deal teams foster respect and lead to improved outcomes; you are recognized as a constructive partner rather than a blocker.
- Committee decisions are communicated accurately and followed up without omissions.
- The loan completions you support close smoothly, with all security and documentation in order.
- You have established trusted relationships...
