Director, Credit - Trading Businesses

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

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