Description
We are seeking an experienced Director, Credit Risk – Cash Flow Lending to play a key role in shaping credit decisions across OakNorth's UK lending portfolio.
The successful candidate will combine deep technical credit expertise with strong commercial judgement and enjoy being close to transactions, customers, and decisions that matter.
Responsibilities:
- Shape credit decisions: Lead the independent assessment and challenge of new lending opportunities across UK Trading Businesses, ensuring robust credit recommendations that balance risk and commercial opportunity.
- Influence deal structuring: Partner with Debt Finance Origination and Credit Analytics from an early stage to identify key risks, challenge assumptions, and help structure transactions that work for both OakNorth and its customers.
- Drive high-quality Credit Committee discussions: Prepare and present clear, well-reasoned credit recommendations to Credit Committee, providing constructive challenge and supporting informed decision-making.
- Assess complex transactions: Evaluate a broad range of cash-flow lending, acquisition finance, leveraged and sponsor-backed transactions, applying strong financial analysis and credit judgement.
- Engage directly with customers: Work alongside origination teams in customer discussions, providing an early view on credit appetite, transaction structure, and potential risks.
- Protect portfolio quality: Work closely with Portfolio Management on existing exposures, including loan increases, extensions, covenant resets, restructurings, and emerging risks.
- Support transaction execution: Review term sheets, security structures, and key legal documentation, working closely with Legal and Loan Execution teams to ensure appropriate risk protections.
- Provide independent judgement: Bring a balanced, pragmatic approach to credit risk, knowing when to support a transaction, when to challenge, and when to recommend declining an opportunity.
- Help shape how we work: Contribute to the continued development of our credit risk capabilities, using data, technology, and AI to improve the quality and efficiency of credit assessment and decision-making.
Requirements:
- Minimum 10 years' experience in corporate or commercial credit risk, ideally within a bank, challenger bank, or specialist lending institution.
- Strong understanding of UK cash-flow lending, with experience assessing complex corporate transactions, including acquisition finance, leveraged finance, M&A, MBO/MBI, and sponsor-backed lending.
- Excellent financial analysis skills, including the ability to assess business models, cash-flow forecasts, debt capacity, covenant structures, and downside scenarios.
- A strong track record of exercising independent credit judgement, challenging deal structures, and influencing senior credit decisions.
- Experience preparing and presenting complex credit recommendations to senior Credit Committees, with the confidence to challenge proposals and engage with senior stakeholders.
- Strong understanding of credit risk frameworks, including covenant setting, portfolio risk management, and key credit risk measures such as RWA, PD, and LGD.
- Commercial awareness and the ability to balance disciplined risk management with supporting ambitious businesses.
- Strong communication, negotiation, and stakeholder management skills, with the ability to build effective relationships across origination, credit, and wider business teams.
- A pragmatic, entrepreneurial mindset , someone who can cut through complexity, take ownership, and operate effectively in a fast-moving environment.
- An interest in how technology, data, and AI can improve credit risk management and lending decisions.
Nice to Have:
- Experience across sectors such as healthcare, hospitality and leisure, manufacturing, financial intermediaries, or other specialist lending markets.
- Exposure to restructuring, recoveries, or managing complex credit situations.
- Experience working directly with business owners, management teams, private equity sponsors, or financial advisers.
Benefits:
- Equity , we want everyone 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 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