About this role
ABOUT US
At OakNorth, we're on a mission to empower ambitious businesses and the communities they serve. Since 2015, we've lent over $21 billion across the UK and US, helped create more than 58,000 new homes and 36,000 new jobs, and supported hundreds of thousands of personal savers — all while driving economic growth in the markets we serve.
ABOUT THE TEAM
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. We work closely with Debt Finance Origination, Credit Analytics, Portfolio Management, and Legal teams to deliver high-quality credit decisions with real commercial impact.
ABOUT THE ROLE
As a Credit Director, you'll play a pivotal role in driving OakNorth's mission forward. You'll critically assess and challenge new lending opportunities across a diverse range of SME and trading businesses, crafting high-impact recommendations to our Credit Committees. This is a highly visible role — you'll engage directly with borrowers, shape key lending decisions, and fuel real economic impact at one of the UK's most innovative banks.
WHAT YOU'LL DO
Key involvement in shaping loan proposals through sighting new lending opportunities with deal teams at an early stage
Work with and professionally challenge the Debt Finance Origination and Credit Analytics teams to deliver high-quality Credit recommendations to Credit Committee(s), including suggestions to improve deal structure
Quickly grasp transactions and focus on key risks, presenting findings in a concise yet focused manner
Collate and distribute committee decisions on new loan requests and be responsible for any follow-up actions
Review and input on term sheets, balancing the relative risks of the deal with customer outcomes
Support the internal Legal/Loan Execution team through close scrutiny of the bank's security requirements and documentation
Meet clients with the Debt Finance team from time to time, providing guidance on structuring and early steer on credit appetite
Support the Portfolio Management team post-drawdown with in-life loan increases, extensions, restructures, or covenant resets
Review all key information supporting credit decisions, including Financial Due Diligence, financial accounts, and covenant models
Ensure data used to assess risk is fit for purpose in terms of quality, quantity, and breadth
Undertake strategic projects as requested by the Head of Credit Risk
YOU'LL BE A GREAT FIT IF YOU HAVE…
A working knowledge of SME cash flow based lending and financial analysis, with a detailed understanding of key sectors such as Healthcare, Hospitality and Leisure, Financial Intermediaries, Manufacturing, and Structured/Leveraged Finance including M&A, MBO/MBI, and Financial Sponsors. Knowledge of Real Estate lending is a plus
Minimum 5 years in a credit risk function, or demonstrable transferable skills
A good knowledge of credit risk models associated with SME clients, including RWA, PD, and LGD
Strong experience of risk and control techniques, including covenant setting, as applied to SME credit processes
Strong negotiation skills, tenacity, pragmatism, and a drive for quality outcomes for both the bank and its customers
The ability to manage multiple deliverables in a fast-paced, high-volume environment with effective time management
Nice to Have
Understanding of the wider risks associated with the full SME product lifecycle, including origination, optimisation, collections, and recoveries
Experience engaging directly with clients and deal teams on structuring and credit appetite
WHAT WE OFFER
25 days holiday
Personalised 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 — London office
Volunteering time off — support causes that matter to you
Salary sacrifice schemes — cycle to work, nursery, gym, electric car scheme