Description
We’re looking for a Senior Director, Credit Risk – Real Estate to play a senior role in shaping credit decisions across OakNorth’s UK real estate lending portfolio.
You’ll lead the independent assessment and challenge of opportunities across a broad range of SME real estate businesses, from investment and development finance to operational real estate.
This is an opportunity to bring deep property credit expertise and sound commercial judgement to transactions that matter.
Responsibilities
- Lead credit decisions: Own the independent assessment and challenge of new real estate lending opportunities, bringing clear judgement to decisions across the UK portfolio.
- Shape transactions early: Partner with Debt Finance Origination and Credit Analytics from the outset to identify key risks, test assumptions and develop structures that work for OakNorth and its customers.
- Set the standard for Credit Committee: Lead clear, well-reasoned recommendations and bring constructive challenge to senior credit discussions and decisions.
- Assess complex real estate: Apply your expertise across investment and development finance in residential, office, retail and industrial property, as well as operational real estate such as PBSA, BTR and co-living.
- Get beneath the numbers: Scrutinise cashflow models, Red Book valuations and Project Monitor reports where relevant, making sure each decision is based on reliable, relevant and robust information.
- Work directly with customers: Join borrower discussions with the Debt Finance team, providing an early view on credit appetite, structure and the risks that need to be addressed.
- Protect portfolio quality: Work with Portfolio Management on existing exposures, including loan increases, extensions, covenant resets, restructurings and emerging risks.
- Support strong execution: Review term sheets, security structures and key documentation, working with Legal and Loan Execution to ensure appropriate protections and good customer outcomes.
- Bring independent judgement: Take a balanced, pragmatic view , knowing when to support a transaction, when to challenge and when a proposal should not proceed.
- Help shape our approach: Contribute to strategic work that strengthens real estate credit and the wider team, including thoughtful use of data, technology and AI to improve assessment and decision-making.
Requirements
- At least 10 years’ experience in credit risk, with deep expertise in SME real estate lending or a strong track record of transferable experience
- Strong knowledge of real estate investment and development finance across sectors such as residential, office, retail and industrial
- Experience with operational real estate, including PBSA, BTR or co-living; experience in SME cashflow lending or lending at fund level would also be valuable
- Excellent financial analysis skills and the ability to assess complex transactions, business plans, cashflows, valuations, downside scenarios and debt capacity
- A strong track record of independent credit judgement, constructive challenge and influencing senior credit decisions
- Confidence leading Credit Committee discussions and engaging with customers, deal teams and senior stakeholders
- A good understanding of SME credit risk models and measures, including RWA, PD and LGD
- Strong experience with risk and control techniques, including setting effective covenants and managing portfolio risk
- The commercial judgement to balance disciplined risk management with backing ambitious businesses
- Clear communication, negotiation and stakeholder skills, alongside the ability to take ownership and manage competing priorities in a fast-moving environment
Nice to Have
- A broader understanding of risk across the SME product lifecycle, from origination and optimisation through to collections and recoveries
- Experience working directly with clients and deal teams on transaction structure and credit appetite
- Experience contributing to strategic projects or improving credit processes and decision-making
What We Offer
- Equity , we want you to have a stake in the business so our interests are aligned
- 25 days’ holiday plus personalised benefits , opt in to what matters to you
- Subsidised private medical insurance with Bupa
- Enhanced maternity and paternity leave
- Wellbeing and social events, plus an in-house Barista Bar in the London office
- Volunteering time off to support causes that matter to you
- Salary sacrifice schemes , cycle to work, nursery, gym and electric car scheme