Associate Director, Savings & Deposits

OakNorth; London; On-site; GBP 80,000 - 120,000; Full time

Job summary

Join OakNorth as an Associate Director in Savings & Deposits, leading the strategy for our commercial deposits business. This role is pivotal in supporting high-growth businesses in the UK, requiring strong commercial acumen and a passion for innovative banking solutions.

Benefits

Equity

25 days holiday

Personalized benefits

Subsidised Private Medical Insurance

Enhanced maternity and paternity leave

Wellbeing and social events

In-house Barista Bar

Volunteering time off

Salary sacrifice schemes

Qualifications

• Proven track record in a commercial role.
• Experience growing commercial deposit portfolios.
• Strong network in venture capital and private equity.

Responsibilities

• Drive the commercial deposits strategy and identify high-growth opportunities.
• Act as a strategic advisor to commercial clients.
• Co-create innovative deposit solutions with product teams.

Skills

Commercial acumen

Relationship building

Strategic thinking

Communication

Innovation

Job description

This job is brought to you by Jobs/Redefined, the UK's leading over-50s age inclusive jobs board.

Since 2015, we've backed entrepreneurs with over £13bn in funding, helping create 56,000+ jobs and 34,000+ new homes across the UK and US. We're dedicated to helping trailblazing businesses thrive and our Savings and Deposits team are integral to our growth.

This is a fantastic opportunity to join a fast-paced, growing bank with a reputation for doing things differently. We don't want another cog in the machine, we're looking for self-starters and bold thinkers who want to pave their own career paths and are passionate about supporting the UK's best and brightest businesspeople.

As Associate Director, Savings & Deposits at OakNorth, you'll take part in leading the strategy, growth, and execution of our commercial deposits business - playing a critical role in shaping our funding strategy and expanding our relationships with the UK's most ambitious and high-growth businesses. Sitting at the intersection of relationship banking, treasury, and product innovation, you'll drive scalable, customer-centric deposit solutions tailored to the evolving needs of SMEs, mid-market companies, and fast-scaling ventures wishing to offer these services to their customers.

This is a high-impact role where you'll bring a sharp commercial mindset, a passion for challenging the status quo, and the ability to thrive in a dynamic, founder-led environment - where success is measured through bold thinking, strong execution, and real commercial results.

Are you ready to step up to the challenge?

Responsibilities:

Strategy & Leadership

• Part own and drive the commercial deposits strategy, aligning with the bank's broader liquidity, balance sheet, and commercial goals.

• Identify high-growth opportunities across sectors including healthcare, tech, professional services, and real estate.

• Work in and drive a high-performing team focused on acquisition, retention, and deepening deposit relationships.

• Serve as a thought leader and internal champion for deposit-led growth, collaborating across product, treasury, risk, and technology.

Client & Market Focus

• Act as a strategic advisor to commercial clients, understanding and solving for their cash, liquidity, and funding needs.

• Develop tailored propositions (e.g. escrow, notice accounts, structured deposit products) that appeal to CFOs and treasurers of growth companies.

• Leverage your existing network to originate new relationships and embed us within the venture ecosystem.

• Monitor market trends and competitor activity to ensure our deposit offering remains relevant and differentiated.

Product & Innovation

• Co-create innovative, tech-enabled deposit solutions in partnership with product and engineering teams.

• Ensure seamless onboarding, servicing, and digital UX that meet the expectations of modern business customers.

• Explore opportunities to integrate cash management, treasury, and ESG-linked features into deposit propositions.

• Utilizing Generative AI: Leverage GenAI tools to increase productivity and enhance decision-making processes within the role.

Commercial & Financial Ownership

• Drive and exceed targets across deposit balances, NIM, customer acquisition, and cost of funds.

• Develop commercial models and pricing frameworks in close alignment with Treasury and Finance.

• Influence and support ALM strategy through effective management of term structure and deposit mix.

Governance & Risk

• Ensure compliance with PRA, FCA, and internal governance standards including KYC/AML for commercial deposit clients.

• Work with Compliance and Risk to maintain robust frameworks as we scale.

Requirements:

• Proven track record in a similar commercial or sales role.
• Demonstrated success growing commercial deposit portfolios and building product-led customer propositions.
• Deep understanding of the needs of growth businesses, particularly in terms of banking and financial services.
• A strong network of relationships within the venture capital and private equity communities.
• Strong commercial acumen with the ability to balance client needs and sustainable unit economics.
• Demonstrated ability to build new and leverage existing relationships to achieve business targets.
• Excellent communication and interpersonal skills, with the ability to influence and persuade senior stakeholders.
• A passion for innovation and a drive to challenge the status quo in banking.
• Comfortable working in a hyper-growth, founder-led, entrepreneurial environment where success is demonstrated through commercial results.

Benefits & Perks:

• Equity. We want people to have a stake in the business so that all our interests are aligned.
• 25 days holiday
• Personalized 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 in London office
• Support causes that matter to you - Volunteering time off
• Salary sacrifice schemes (Cycle to work, nursery, gym, electric car scheme)