Director, Credit Risk

ABOUT US

At Oak North, 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.

At Oak North, 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.

As a Credit Director, you'll play a pivotal role in driving Oak North'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.

• 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

• 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

• 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

• 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