Director, Credit - Trading Businesses

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.

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.

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.

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

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

opt-in to what matters to you

• Wellbeing and social events
• In-house Barista Bar
• Volunteering time off
• support causes that matter to you
• Salary sacrifice schemes
• cycle to work, nursery, gym, electric car scheme